Top-10 Cryptocurrencies For Day Trading

Experienced traders love cryptocurrency for its volatility, which can lead to both significant profits and losses. They also appreciate the round-the-clock commerce, making crypto ideal for certain strategies, such as scalping, as cryptocurrencies provide excellent opportunities for long and short positions. In this article, we’ll explore the top 10 best digital players of the old guard. Also at the end you’ll find a list of new crypto coins with great potential.

How To Pick Crypto For Day Trading?

To begin, a few words about day trading. This type involves buying and selling virtual funds within 24 hours. The goal is to profit from the daily market movements. Strategies can be diverse, and one could talk about them endlessly. However, the most important thing everywhere is to choose the right coin for trading. Let’s take a closer look at the key factors to consider when selecting an asset.

Volatility

First and foremost, for successful purchase, cryptocurrency must have high volatility, as important short-term fluctuations increase the potential for profit. Cryptocurrencies exhibit varying levels of volatility, but we recommend choosing tokens with a small market capitalization. These coins often experience sharper fluctuations compared to larger counterparts. We also advise against trading stablecoins, as they are the least volatile.

Liquidity

The next essential factor is the asset's liquidity, since highly liquid currencies enable faster trades. It’s better to pick coins that you can easily sell for fiat, stablecoins, or other tokens. Also, be careful when selecting an exchange. For instance, Cryptomus P2P offers an ideal platform for buying highly liquid coins and day trading.

Trading volume directly affects liquidity, as higher volumes show more active markets. This makes it easier to buy and sell quickly without large price swings and helps traders find the best entry and exit positions.

List Of The Most Volatile And Profitable Cryptocurrencies For Day Trading

Today, we have gathered the 10 best crypto assets, whose use will help you maximize profits. Enjoy!

• Bitcoin (BTC)
• Ethereum (ETH)
• Solana (SOL)
• Ripple (XRP)
• Tron (TRX)
• Binance Coin (BNB)
• Dogecoin (DOGE)
• Chainlink (LINK)
• Avalanche (AVAX)
• SUI

Bitcoin

• General Market Rank: 1
• Market Cap: $1,218.69B
• Daily trading volume: $44.37B

BTC–the decentralization pioneer and the largest coin by market capitalization. It stays the best variant for day traders due to its high volumes and liquidity. Bitcoin offers predictability, which translates into profits.

Compared to altcoins, BTC jumps less in price and still leads the market. In addition, it is important to remember that Bitcoin has a huge popularity and is a market trendsetter, which is crucial for day trading.

Ethereum

• General Market Rank: 2
• Market Cap: $298.30B
• Daily trading volume: $23.32B

ETH–the second-largest crypto and another preferred choice. Its trusted ecosystem supports a lot of DeFi apps and tokens on its net. Also, don’t forget about its platform for smart contracts. Ethereum offers liquidity and significant trading volumes. Fluctuations in its price are often so volatile, making it an attractive option for traders and investors.

Binance Coin

• General Market Rank: 4
• Market Cap: $81.16B
• Daily trading volume: $2.00B

BNB is the native token of the chain, developed by Binance, the famous crypto exchange. It is primarily interesting for its wide range of benefits, including discounts on commissions and participation in exclusive offers. Thus, the day trading method enhances BNB’s popularity and makes it a suitable variant for sellers who are looking for short-term benefit potential. Thanks to growing demand and the still-developing Binance ecosystem, BNB has greatly increased trading volume.

Solana

• General Market Rank: 5
• Market Cap: $69.15B
• Daily trading volume: $3.27B

SOL is a cutting-edge cryptocurrency well-known for its rapid operation speed and low gas fees. It is possible due to a combination of two intense consensus mechanisms: Proof of Stake (PoS) and Proof of History (PoH). They allow efficient processing of thousands of TPS while maintaining user commissions cheaply. In addition, SOL has a rich ecosystem of dApps and many web projects, including financial and NFTs. So, since its inception, Solana has evolved into a powerful competitor to ETH.

Ripple

• General Market Rank: 7
• Market Cap: $34.02B
• Daily trading volume: $1.99B

The next–XRP. The oldest digital asset with fast, secure, and cheap transactions. It has a large market cap and is widely available on different digital platforms. It makes XRP an appealing option for day traders. Numerous partnerships and collaborations often influenced the price movement of Ripple, providing opportunities for earnings from short-term swings in the value.

Dogecoin

• General Market Rank: 8
• Market Cap: $15.82B
• Daily trading volume: $1.22B

DOGE is the first meme coin with a reputation as a worthy rival in the world of cryptocurrencies. In fact, Dogecoin has no real functionality, being developed as a joke project. It has experienced many ups and downs in its little history. A lot of day traders favor DOGE for its wild cost swings. Dogecoin is also a great option because of its active community, which creates short-term profit opportunities.

TRON

• General Market Rank: 10
• Market Cap: $13.36B
• Daily trading volume: $425.81M

TRX is a good choice due to its liquidity, allowing users to quickly enter and exit positions. Tron also shows stable price fluctuations throughout the day. It provides opportunities to profit in the short time a position changes. In addition, cheap operations make TRX convenient for those who want to transact frequently.

Avalanche

• General Market Rank: 12
• Market Cap: $10.78B
• Daily trading volume: $557.15M

AVAX is a cryptocurrency that works on a complex ecosystem consisting of three separate chains. Due to its high scalability, the network processes a large volume of transactions without delay. So, the popularity of Avalanche in DeFi creates a dynamic market with high liquidity and volatility. As you can see, this is a great opportunity for short-term trading.

Chainlink

• General Market Rank: 15
• Market Cap: $7.02B
• Daily trading volume: $390.81M

LINK—an oracle system that connects Bitcoin to the real world through cross-chain interactions. For day traders, Chainlink is particularly attractive due to its strong market position, frequent price changes, and its important role in the crypto ecosystem. Additionally, its volatility gives excellent opportunities for speculation in a short time.

SUI

• General Market Rank: 20
• Market Cap: $5.17B
• Daily trading volume: $1.50B

SUI—an excellent option for day trading primarily due to its strong liquidity and trading volume, which indicates robust interest from market participants. The significant trading volume minimizes the risk of sharp price fluctuations, making it advantageous for frequent transactions. Additionally, the coin has an active community, which is a positive indicator for day trading.

Honorable Mentions

Lastly, we would like to introduce you to a list of other cryptocurrencies that perform well on exchanges. They are also great for day trading:

• PEPE. Market Cap: $4.1B, daily trading volume: $1.85B. This digital asset cartures users with its strong community and meme culture, which ensures continued interest.
• FET. Market Cap: $3.7B, daily trading volume: $409M. The coin is a great option for day trading due to its artificial intelligence-based technology, which creates opportunities for high liquidity.
• Render (RNDR). Market Cap: $2.9B, daily trading volume: $584M. The coin is attracting attention for its unique decentralized rendering model, which creates investment opportunities in the growing digital content and visualization market.
• Dogwifhat (WIF). Market Cap: $2.3B, daily trading volume: $1B. The coin featuring a wonderful dog in a hat on the cover has a strong community-oriented culture and continued interest in the asset.

Thus, today we reviewed the best crypto assets for day trading in 2024. Don’t forget to keep an eye on market trends, as everything can easily change. To stay updated with the latest news, we recommend creating an account on Cryptomus and following our blog. You can also buy or sell most of the cryptocurrencies on the P2P platform.

Which coins will you choose for day trading? Let us know in the comments.