Top 10 volatile cryptocurrencies investors should know
by Sayantani Sanyal
November 24, 2021
Cryptocurrencies are catching the attention of many investors, but their volatility still keeps many out of the market. Experts believe that one of the many reasons for crypto volatility is their novelty. All new concepts take a long time to settle and gain acceptance, and the same goes for cryptocurrencies. Digital currencies have gained prominence around the world in recent years, but it is still not convincing for investors to choose them as assets like gold or stocks. Given the lack of understanding and rules, currently crypto trading is highly speculative. Investors should always be on high alert before investing in these volatile cryptocurrencies. In this article, we’ve listed some of the more volatile cryptocurrencies that investors should always know before buying.
• Bitcoin: Even though bitcoin is the oldest cryptocurrency on the market, it is also one of the most volatile. Over the past two months, after its market value skyrocketed, BTC not only benefited its investors, but also increased the value of the global crypto market. Still, let’s not forget that BTC remained one of the most volatile cryptocurrencies for almost half of the year.
• Ethereum: Ether is ranked as the second largest cryptocurrency in terms of market capitalization. But the crypto has had a bumpy road and has seen fluctuations in its process. ETH has already outperformed its biggest rival Bitcoin in the 2021 price hike. Starting from over US $ 730 per currency unit in early January, it rushed forward and posted further growth, unlike several other cryptos. .
• Ripple: Ripple was created to provide a cheaper and faster payment option for international transactions. But its value is considered volatile because its price oscillates quite often. In November 2020, the crypto jumped 170% amid growing concerns over the SEC case against the network. But that might have kept crypto from reaching impressive highs this year. But we also should not rule out positive changes after successful treatment of ongoing problems.
• Litecoin: The price volatility of this bitcoin companion is also worth mentioning. Although LTC prices have fallen significantly from the record high of US $ 412 reached in May. But the crypto managed to grow after this dive. Even after its volatility, many investors still view LTC as a suitable altcoin for long-term investments.
• Shiba inu: Previously, SHIB was only popular as a coin, but over the years it has gained a pretty dedicated fan base. Shiba Inu launched in the middle of 2020 and has an extremely low price. Its growth potential is therefore enormous. Initially, crypto rose to prominence after being listed in some of the top crypto exchanges. Recently, in early October 2021, oddly after a tweet from Musk about his new pup Shiba Inu, the crypto rose 300% on the first day of the month.
• Dogecoin: Dogecoin was launched in 2013 after the dog Shiba Inu went viral. Its price volatility created a rebound of 9530% in one year. The coin owes its rapid success to Elon Musk’s tweets, as well as its listing in Coinbase. It has also been accepted by several sports clubs for fan tokens, which has further increased its popularity in the market. DOGE is very volatile because its price depends on its influencers and investors.
• ash: Dash is popular among investors as an alternative to bitcoin. Crypto focuses on improving financial transactions and ensuring that banking services reach the poor and unbanked. The crypto volatility index in 2021 is 1251%. The coin rose from $ 66 in January to $ 440 in May 2021. Right after this rally, its prices fell to $ 120 and stayed around $ 160.
• Bitcoin Cash: This is a bitcoin fork created to increase the block size. Crypto aims to improve transaction speed and make investors look beyond bitcoin. The value of the crypto hit US $ 340 in early January of this year. In 2021, its volatility index reached 1030%.
• Solana: SOL’s recent price rally has made it one of the top five cryptos in the global market. In 2021, its volatility index reached 7183%. Crypto is having a strong year as it has risen over 12,000% since 2020. Its record was set in September 2021. SOL offers several advantages, including low transaction fees, which attract most of its investors.
• Celo: Celo is a blockchain ecosystem focused on increasing the adoption of cryptocurrency among smartphone users. By using phone numbers as public keys, the crypto hopes to entice the billions of smartphone users around the world to transact without access to banks and regulations. Even though it has high targets, it is one of the most volatile cryptocurrencies on the market.
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