Cryptocurrency trading is a common activity these days. In fact, it is estimated that cryptocurrencies worth more than $100 billion are traded every day. The figure is much higher in the derivatives and futures market. In this article, we will look at the best cryptocurrencies for day trading in 2022. The criteria are coins of reasonable volume and those offered by most brokers.
Cardano is a blockchain project started in 2015 by Charles Hoskinson. Hoskinson co-founded Ethereum, the second largest cryptocurrency in the world. His goal was to create a blockchain project that was faster, more reliable and more profitable than Ethereum.
Cardano rolled out smart contract features in 2021 and has seen its ecosystem grow ever since. Today, several apps have been built using Cardano’s technology, including SundaeSwap and MinSwap. In all, they have locked in a total value (TVL) of over $300 million. Cardano is a good cryptocurrency for daily trading due to its low price and volatility.
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Shiba Inu (SHIB)
Shiba Inu is a top cryptocurrency launched in 2021. Back then, it started to become an alternative to Dogecoin, which was gaining popularity back then. Today, the price of the Shiba Inu soared above its rating, pushing its market cap to over $13 billion.
The ecosystem also grew when the developers launched ShibaSwap, an ecosystem valued at over $130 million (TVL). They also launched an NFT market and a metaverse platform. Shiba Inu is a good cryptocurrency to trade due to its low face value and the fact that it has some volatility.
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Ripple is one of the oldest and most popular cryptocurrencies in the world. It was developed by Ripple Labs, a fintech company that helps companies move money. It is an important part of the so-called On-Demand Liquidity (ODL) network.
Ripple is a popular cryptocurrency for investors and traders. First, a single XRP token trades at $0.64, making it a very attractive cryptocurrency. There are also many headlines about Ripple, such as that of the ongoing case between Ripple and the Securities and Exchange Commission (SEC).
In addition, Ripple is still making deals with companies and will likely be made public soon. All this makes XRP a very attractive currency for day-to-day trading.
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ApeCoin is a relatively new cryptocurrency that was launched in 2022. Shortly after its launch, the coin’s price soared and its market cap reached over $6 billion. It is now the 25th largest cryptocurrency in the world with a market cap of over $6.15 billion.
ApeCoin was founded by Yuga Labs, the founder of Bored Ape Yacht Club, one of the biggest names in the NFT industry. The purpose of the coin is to facilitate payments in the network. This is also part of the growth of the platform’s ecosystem. For example, they have already announced plans for a metaverse powered by APE. ApeCoin is a highly liquid cryptocurrency that works well for traders.
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Chain link (LINK)
Chainlink is a blockchain project that many people don’t know about, but it is one that most people have used indirectly. It is not well known because it has no consumer product. Instead, it is used by most DeFi builders to bring off-chain data to the blockchain.
Therefore, when you use products like AAVE, Abracadabra, Anchor and Uniswap, you use Chainlink. It is the largest oracle network with a Total Secure Value (TVS) of over $55 billion. Chainlink is a good cryptocurrency to trade due to its volatility and the fact that it is offered by most exchanges.
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Stellar lumen (XLM)
Stellar is a blockchain project that helps companies in the money transfer industry. It is operated by the Stellar Foundation, which is led by one of the founders of Ripple Labs. The core platform allows users to create digital representations of money. By doing this, they can move it faster. Stellar is known for his collaboration with Circle.
The partnership helped Circle build USD Coin, the second largest stablecoin in the world. Stellar also partners with other companies such as MoneyGram and Flutterwave.
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Dogecoin is the largest meme coin in the world with a market cap of over $18 billion. Launched in 2014, the coin has become extremely popular among investors due to its close association with Elon Musk. Data from the chain shows that DOGE is owned by thousands of people around the world. It is also offered by most exchanges such as Coinbase and Binance. The fact that a single DOGE sells for $0.13 and is highly volatile makes it a good cryptocurrency to trade.
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Litecoin is one of the most popular cryptocurrencies in the world. It is a proof-of-work cryptocurrency created with the same concepts as Bitcoin. The coin is often considered a better version of BTC due to its low transaction costs and the fact that it is fast. Litecoin is popular among day traders who fear the very high cost of bitcoin. It is also very volatile and is offered by most brokers.
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Ethereum is often considered the most important blockchain project in the world. Some analysts believe that it is actually more useful than Bitcoin. This is mainly due to the smart contract features that allow users to build decentralized applications. For example, it has been used to build apps like Uniswap, Curve, and even Decentraland. ETH is a good cryptocurrency to trade in 2022 due to the impending transition from proof-of-work to proof-of-stake.
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Bitcoin Cash (BCH)
Bitcoin Cash is a cryptocurrency from a hard fork of Bitcoin. Today, the coin has a market cap of over $5.7 billion. Like Litecoin, BCH is often considered a better alternative to Bitcoin. It is also a bit faster and the network is not so congested. It is also very volatile as it follows the movement of Bitcoin. Bitcoin Cash is a great currency to trade in 2022.