In the cryptocurrency market, price volatility is a significant source of concern. There is some volatility in the stock market, but because the cryptocurrency market is relatively new, there is less understanding. Analysts have noticed a recent trend out of all their knowledge – cryptocurrency crashes usually occur on weekends. In an interview, Stephen McKeon, a finance professor and partner at Collab Currency, a crypto-focused investment fund, explained that liquidity necessitates a study of the supply of buyers and sellers. If fewer buyers than sellers or vice versa, fluctuating transactions will result in a spike or crash. The top 20 most-traded cryptocurrencies are an excellent place to start. If and when the cryptocurrency markets crash, it is simple to identify some prominent survivors in this list. For more inf visit cryptosmarty.com
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If and when the cryptocurrency markets crash, it is simple to identify some prominent survivors in this list.
Bitcoin
Bitcoin’s price has dropped to US$43,030 from a high of over US$47,700 on January 1st, 2021. Retail cryptocurrency investors’ joy has been dampened by falling cryptocurrency prices. However, the downward price movement in crypto markets is nothing new, and it should come as no surprise to die-hard crypto enthusiasts. Bitcoin is the original cryptocurrency, and it is quickly gaining popularity as a store of value. Its blockchain and codebase also gave rise to forks like Litecoin and Bitcoin Cash. Both are vying to be the most popular cryptocurrency for daily transactions.
Ethereum
Ethereum, the second-largest cryptocurrency by market capitalization, also experienced a significant drop. After a solid start to the year, the Ethereum-based cryptocurrency has dropped 8.3 per cent in the last 24 hours. However, Ethereum’s world of decentralized applications, or Dapps, is rapidly gaining traction and is responsible for a slew of tokens built on its platform, such as Populous.
XRP
XRP is an open-source cryptocurrency that employs the XRP ledger, an open-source distributed ledger. It is the native coin of Ripple, a company that uses blockchain to facilitate global transactions. According to its creators, XRP was designed for payments and can settle transactions faster and more securely than most other cryptocurrencies.
Cardano
Cardano is a cryptocurrency developed by engineers, mathematicians, and cryptography experts. It is open-source and decentralized, with proof-of-stake used to achieve consensus. It can also help with peer-to-peer transactions involving the ADA token. Cardano is one of the cryptocurrencies that has recovered from a 2022 crash.
Polygon
This platform aims to address many Ethereum blockchain’s issues while also providing Defi solutions. The platform aims to build “Ethereum’s internet of blockchains” by connecting Ethereum-compatible blockchain networks and aggregating scalable Ethereum solutions. It is also one of the cryptocurrencies on the mend after a crash.
Litecoin
Litecoin, as one of the first digital currencies, is increasingly being used in real-world transactions, making it one of the fastest-growing digital currencies. The team has constantly improved the network to increase speed, lower costs, and increase security, making Litecoin one of the most appealing payment platforms. The most recent update discusses the growing acceptance of Litecoin in the real world. LTC is being adopted by more companies, the most recent being NetCent, Bitpay, and Verifone. Litecoin holders can now purchase goods and services from these stores. Another recent development that the team has informed the community about is Litecoin Gaming. More information is on its way from the group.
Chainlink
Chainlink was created to increase the utility of smart contracts. It is a decentralized network of oracles that can integrate real-world data into any blockchain network. Chainlink is the most extensive and widely used oracle network. Chainlink oracles will be in high demand in the future due to their ability to integrate real-world data.
Polkadot
Polkadot was created based on research identifying the challenges that blockchain networks will face in the future as cryptocurrency becomes more mainstream and promotes several industry innovations. One of the distinguishing characteristics of DOT is that it operates on a network that can connect to other blockchain networks.
Dogecoin
The fact that Dogecoin is still alive and well despite not being taken seriously as a statement in and of itself. First, in early 2021, Redditors pushed the price to new highs to prevent the rumoured short-selling of Dogecoins by many Wall Street hedge funds. Then Elon Musk dubbed himself the “Dogefather,” further promoting this cryptocurrency. While many people question the coin’s legitimacy, Dogecoin still has a market value.
Shiba Inu
Shiba Inu debuted in August 2020, and its meteoric rise in such a short period is nothing short of astounding. Dogecoin was once the most popular meme currency, with little competition.
However, SHIB, another namecoin created from online jokes that went viral in 2013, entered the fray. Click hare for more detail