Top 5 Cryptocurrencies for Day Trading in 2024
Login

Top 5 Cryptocurrencies for Day Trading in 2024

Estimated Reading Time: 4 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more



Crypto-day trading is a fast-paced investment technique involving buying and selling cryptocurrencies within the same day, usually multiple times. Unlike long-term investing, this short-term strategy needs less capital, which makes crypto trading more accessible to those with restricted funds.

Day traders’ goal is to profit from the crypto market’s short-term price fluctuations by taking advantage of falling and rising markets. Making the most of day trading requires you to choose the best digital currencies for this strategy. Outlined below are the top five cryptos for day trading in 2024.

Crypto Inflows Surge as Broader Market Sentiment Improves

Bitcoin

Introduced in 2008, Bitcoin is the oldest crypto and has gained a lot of popularity over the years. It’s the largest digital token by market capitalization and is available on major crypto exchanges. Bitcoin prides itself in its high liquidity, meaning there are many buyers and sellers ready to day trade at any time. This ensures fast selling and buying of orders. Bitcoin’s price movements are highly volatile, which allows you, the day trader, to benefit from the short-term price changes. Its volatility makes it quite risky as well.

If you intend to sell and buy Bitcoin, ensure you have an effective risk management strategy that can help minimize risk when trading. The fact that Bitcoin trading pairs are available on many crypto exchanges makes it easily accessible to day traders. The crypto’s consistent market structure also makes it ideal for day trading.

Binance coin

Binance coin, one of the biggest digital coins in the crypto market, is one of the largest crypto exchanges by trading volume. Statistics indicate that Binance coin had a daily trading volume of $76 billion as of August 2022. Binance coin’s high trading volume signifies that the crypto has an active market participation, making it perfect for day trading as it’s easier to exit and enter trades. BNB is highly volatile. Its price keeps fluctuating, allowing day traders to benefit from the short-term price movements.

Ethereum

Ethereum, the second-largest crypto by market capitalization, is another crypto popular among day traders. Its high liquidity and availability on major crypto exchanges make it attractive to day traders. Ethereum’s smart contract capability and dominance in the DeFi (decentralized finance) space make it a preferred choice by day traders. Thanks to its price movements, the crypto has excellent volatility, which traders can leverage to gain significant returns quickly. Ethereum’s high daily trading volume also makes it suitable for day trading.

Solana

Solana has continued to gain popularity in the crypto world and ranks fifth on the list of largest cryptocurrencies by market capitalization. The crypto integrates Proof of Stake and Proof of History to provide low-cost, high-speed transactions. This capability makes Solana, popularly known as Ethereum killer, one of the best cryptos to day trade. Day traders find Solana attractive due to its high daily trading volume and high liquidity on key trading platforms. Its significant volatility enables day traders to benefit from the frequent price shifts.

Ripple

Ripple, a popular crypto with a large market cap, offers cost-effective, cross-border transactions. Besides offering quick transaction confirmation times, XRP is supported by major crypto exchanges. Ripple’s high speed and low transaction cost make it perfect for day traders looking for fast trades. The high volatility the crypto experiences enables traders to take advantage of the market falls and rises to make a profit quickly.

Endnote

Crypto-day trading is perfect for traders seeking to profit from short-term price movements. Familiarize yourself with the cryptos for day trading in 2024. 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News