7 Cryptocurrencies That Have Extreme Volatility
If you’ve been into the crypto world over a long period, you perhaps know that the crypto-investment journey is no different from a roller-coaster ride. The undeniable fact about cryptocurrencies is that they’re highly volatile. It’s often referred to as the fastest emerging market.
You’ll find hundreds and thousands of digital currencies in the current era, from Bitcoin to Dogecoin. Despite their extreme highs and lows, investors are still attracted to these digital currencies. A few bitcoins gave immense gains, while others buried all your hopes at one go.
Choosing the right cryptocurrency is even overwhelming when you’re just entering the digital currency world. So, let’s dive in. Here’re a few highly volatile cryptocurrencies you should know. However, if you’d like the latest prices and other details of cryptocurrencies, head over to OKX right now.
Ether Has Become The Highest Volatile Crypto In The New Year
Before getting into the details of the top volatile digital currencies, let’s discuss the highest volatile cryptocurrency in this new year– Ether. According to the standard deviation of the previous 20 days, the experts have found ether as the most volatile cryptocurrency.
Ether is the most popular crypto after bitcoin. As per Yahoo Finance records, it’s known that this highest volatile crypto’s average volume has risen to 18.70 billion.
- January 2023- Ethereum’s value is around $1,000.
- November 2023- Ethereum’s value is around $4,878.26.
However, after that, the price of this digital currency has dropped to $3,165.58. Yet, ether has grabbed the #1 position in the list of highest volatile cryptos.
7 Highly Volatile Cryptocurrencies
Here are the 7 highly volatile cryptocurrencies. These include bitcoin, Ethereum, Tether, stellar, polka dot, gala, US dollar coin, Binance coin, Solano, Terra, avalanche, and more. So, let’s discuss each of them in detail.
Bitcoin was built in 2009 by Satoshi Nakamoto(pseudonym). It’s the original cryptocurrency with a market cap of $880 billion. This cryptocurrency leverages blockchain technology and ensures the highest security.
It has a specialized ledger logging transactions distribution system over tons of computers. Most significantly, it’s verified by a unique and complex cryptographic puzzle. This process is also known as “Proof of Work.”
In 2016, the value of bitcoin was $500. Later in 2023, the bitcoin’s price will grow to $46,300(Over 9000% growth!).
Ethereum is one of program developers’ most loved crypto platforms because of its immense applications. Like bitcoin, it also has enormous growth from April 2016 to April 2023. One of the most popular applications includes automated smart contracts.
The market cap of Ethereum is $415 billion. Initially, these cryptos are valued at $11. In 2023, these are valued at $3,450. This means the price has increased by over 31,000%.
3. Binance Coin
Binance coin is adopted by one of the most famous and extensive crypto exchanges, Binance. The Binance coin is used in trading and payment processes on the Binance platform. It has a market cap of over $68 billion.
It was launched in 2017 for trading, processing payments, and booking various travel necessities. The value of the Binance coin in 2017 was a mere $0.10. Yet, it has grown to $445 by April 2023. So, the investors who invested in the Binance coin have gained vast profits of 445,000%.
The market cap of Solano is $44.5 billion, which was launched in 2020. It was launched to support the various DeFi(Decentralized Finance) applications, smart contracts, and more. The best part of Solano is the safe and quick payment processing.
The whole platform is powered by its native token SOL. Initially, the SOL’s price was a mere $0.77. However, by April 2023, it has grown by over 17,500% and is now trading at $136.
Cardano has become one of the most popular cryptocurrencies in the present era. It attracted tons of investors with its unique applications and features. Cardano has grown by 6600% in just four years. The best part about the Cardano is its volatility. It usually reduces energy usage and processes the payments within no time.
Terra is another well-renowned blockchain payment platform. It’s specially built for stablecoins payment processing and maintains an equilibrium between two kinds of cryptocurrencies. This platform is powered by Luna, which helps to mint terra stablecoins.
Luna and Terra create a supply and demand ecosystem. For instance, if the Terra stablecoin price has risen, the investors can immediately burn the Luna and convert them to Terra stablecoin. Meanwhile, when its value decreases, the investors can burn and convert them to Luna.
In Jan 2023, the price of this digital currency was $0.64. Later, the price grew by 16,400%, and now it’s been trading at $106.
Have you ever wished for the stability of cryptocurrencies? Tether is one such coin with utmost stability as it’s suported by the US dollars and euro. This is why it’s often known as stablecoin. This is suitable for investors who are cautious about extreme volatility. The market cap of Tether is more than $79 billion.
Cryptocurrencies have become a trending topic in the current era because of their extreme volatility. A few highly volatile cryptos include Bitcoin, Ethereum, Binance coin, Solano, Cardano, Terra, and Tether.
Each of these cryptos has its set of unique features and highlights. However, Ethereum is considered the highest volatile cryptocurrency in this new year after measuring its standard deviation over the past 20 days.
Why are cryptos volatile?
Digital currency is still the newish market that’s created using developing technology. The speculations, decentralization, and media contribute to the volatility of cryptocurrencies.
What’s the #1 volatile cryptocurrency as of April 2023?
As of April, Tether is the #1 volatile cryptocurrency.
Which is more volatile: Bitcoin or Ethereum?
Ethereum has higher volatility than Bitcoin in April 2023. The volatility percentage of Ethereum and Bitcoin are 0.63 and 0.50, respectively.