Cryptocurrency trading is extremely widespread today. Estimates show that more than $100 billion worth of cryptocurrencies are traded daily, and volumes are even higher in derivatives and futures markets. In this article, we review some of the best cryptocurrencies for day trading in 2022. Coins were selected based on trading volume and broad availability across major brokers.
Cardano (ADA)
Cardano is a blockchain project founded by Charles Hoskinson in 2015. Hoskinson, a co-founder of Ethereum, set out to build a blockchain that would be faster, more reliable, and more cost-effective than Ethereum. In 2021 Cardano introduced smart contract capabilities, and its ecosystem has grown since. Several applications now run on Cardano, including SundaeSwap and MinSwap, with a combined total value locked (TVL) of over $300 million. Cardano is well suited for day trading due to its low price and relatively mild volatility.
Learn more about how to buy Cardano.
Shiba Inu (SHIB)
Shiba Inu is a prominent cryptocurrency launched in 2021 as an alternative to Dogecoin during that token’s surge in popularity. Since listing, Shiba Inu’s price has risen and its market capitalization has grown to over $13 billion. Its ecosystem has expanded with the ShibaSwap platform, which has a TVL exceeding $130 million, as well as an NFT marketplace and metaverse initiatives. Shiba Inu is attractive for day traders because of its low nominal price and noticeable volatility.
Ripple (XRP)
Ripple is one of the oldest and most recognized cryptocurrencies. Developed by fintech company Ripple Labs, XRP is designed to help businesses move money efficiently and plays a role in the On-Demand Liquidity (ODL) service. XRP remains popular with investors and traders: a single token trades at a modest price (for example, $0.64 at certain times), and the token often receives significant media attention—particularly regarding the legal case between Ripple and the U.S. Securities and Exchange Commission (SEC). Ripple also continues to form partnerships with companies and may pursue a public listing in the future. These factors make XRP an appealing option for day trading.
Learn more about how to buy Ripple.
ApeCoin (APE)
ApeCoin is a relatively new cryptocurrency launched in 2022. Soon after its release the token saw a rapid price increase and climbed into the top 30 by market capitalization, reaching over $6 billion. ApeCoin was created by Yuga Labs, the team behind the Bored Ape Yacht Club, and aims to facilitate payments and support the platform’s ecosystem. The project team has announced plans for a metaverse that will operate using APE. ApeCoin is highly liquid and has delivered strong results for many traders.
Find out more about how to buy ApeCoin.
Chainlink (LINK)
Chainlink is a blockchain project that many people use indirectly even if they do not know it by name. Rather than offering consumer-facing products, Chainlink provides oracle services that feed off-chain data to smart contracts—services widely adopted by DeFi developers. When you use platforms like AAVE, Abracadabra, Anchor, or Uniswap, Chainlink often supplies price and data feeds. It is the largest oracle network, with a total value serviced (TVS) exceeding $55 billion. Chainlink is attractive for traders because it is volatile and listed by most exchanges.
Learn more about how to buy Chainlink.
Stellar Lumens (XLM)
Stellar is a blockchain focused on cross-border payments and digital asset issuance. The Stellar Foundation, led by one of Ripple’s co-founders, oversees the project. Stellar enables the creation of digital forms of money that can move quickly between parties and has formed notable partnerships—most prominently with Circle. That collaboration helped support the development of USD Coin (USDC), the world’s second-largest stablecoin. Stellar also works with companies like MoneyGram and Flutterwave, making it a recognized option in the payments space.
Learn more about Stellar Lumens.
Dogecoin (DOGE)
Dogecoin is the largest meme token by market capitalization, exceeding $18 billion at times. Created in 2014, Dogecoin gained widespread popularity and attention, in part due to high-profile mentions from figures like Elon Musk. Thousands of holders around the world own DOGE, and most major exchanges—including Coinbase and Binance—list the token. Its low unit price (for example, $0.13 at certain times) and high volatility make Dogecoin a popular instrument for traders looking for short-term moves.
Learn more about how to buy Dogecoin.
Litecoin (LTC)
Litecoin is one of the longest-standing and most popular cryptocurrencies. It uses a proof-of-work consensus and was developed using many of Bitcoin’s design concepts. Often described as a lighter, faster alternative to Bitcoin, Litecoin offers lower transaction costs and quicker confirmation times. It appeals to day traders who want exposure to a Bitcoin-like asset without the high price of BTC. Litecoin is volatile and widely offered by brokers for trading.
Read more about Litecoin.
Ethereum (ETH)
Many consider Ethereum the most important blockchain project after Bitcoin. Some analysts argue it has greater utility than Bitcoin because of its smart contract capabilities, which power a vast range of decentralized applications. Ethereum underpins projects such as Uniswap, Curve, and Decentraland. ETH remains a strong candidate for trading in 2022, especially as the network prepares for its transition from proof-of-work to proof-of-stake.
Learn more about Ethereum.
Bitcoin Cash (BCH)
Bitcoin Cash emerged from a hard fork of Bitcoin and today has a market capitalization of over $5.7 billion. Like Litecoin, BCH is often viewed as an alternative to Bitcoin, offering faster block times and a less congested network. It is also quite volatile and tends to follow Bitcoin’s price movements. These characteristics make Bitcoin Cash a viable option for day traders in 2022.