Day trading crypto is very easy these days. The crypto market is after all filled with lots of derivatives. It is estimated that the daily volume in the crypto derivatives market is more than $3 trillion. With these numbers, it’s no wonder many traders are using these assets. Here is why day trading crypto makes sense:
The market offers very high volatility daily.
You do not need a huge account to day trade crypto.
There is a massive variety of crypto assets to day trade.
Well, in case you are not sure which assets are perfectly ideal for an active crypto day trader, the suggestions below should help:
As far as volatility goes, very few can measure up to DogeCoin (DOGE). As one of the leading meme coins, DOGE also has massive trade volume thanks to its market cap of around $17 billion.
Data Source: Tradingview
With that in mind, the price action on DOGE will always fluctuate by a large extent on a regular basis. This gives active day traders a huge range of entry points to profit from DOGE. But there are of course, certain risks that come with highly volatile assets. Make sure you employ proper capital management.
ThorChain (RUNE) is not nearly as big as DOGE, but it still has excellent volume. This is a coin that has a market cap of $1.2 billion. Therefore, RUNE typically exchanges hands a lot of times on any given day, making it a decent target for a day trader. The coin is also known for high volatility as well.
Ethereum Classic (ETC)
With a daily market cap of around $3.7 billion, incredible name recognition, and significant circulating supply, Ethereum Classic (ETC) is also a great fit for active day traders. It is a bit expensive though, since one coin right now sells for around $27. But it should be worth it.