It is easy to identify some of the notable cryptocurrencies that survive a crash, and when a crash occurred.
Price volatility is a major concern in the cryptocurrency market. The stock market is also subject to some fluctuations, but the cryptocurrency market is too new to be understood well. Among all the experts, analysts have noted the recent trends – crypto crashes that usually happen over the weekend. Stephen McKeown, Professor of Finance and Associate at Collab + Currency, explained in an interview that it is a crypto-focused investment fund that requires research to supply buyers and sellers of liquidity. If there are fewer buyers than there are sellers, or vice versa, volatile transactions will cause spikes or breakdowns. A good place to start is the top 20 most traded cryptocurrencies. In the event of a crypto market crash, it is easy to spot the notable survivors on this list.
Bitcoin price dropped to $43,030 from a high of $47,700 on Jan 1, 2021. The drop in cryptocurrency prices dampened the festive mood of individual crypto investors. But the price drop in the cryptocurrency market is nothing new, so it comes as no surprise to hardcore crypto enthusiasts. Bitcoin was the original cryptocurrency and quickly emerged as a store of value. The blockchain and its token base have also created derivatives such as Litecoin and Bitcoin Cash. Both are hunting to become the preferred cryptocurrency in daily transactions.
Ethereum, the second largest cryptocurrency by market capitalization, has also fallen sharply. The Ethereum-based cryptocurrency has seen a fall of 8.3% in the past 24 hours after a healthy start to the year. However, the world of Ethereum decentralized applications or Dapps is gaining momentum and is responsible for many tokens like Populous that are generated from the platform.
XRP is an open source cryptocurrency that uses an open source distributed ledger called the XRP Ledger. This is the original coin of Ripple, an enterprise blockchain company that facilitates global transactions. The authors claim that XRP is designed for payments and can settle transactions more securely and efficiently than most other cryptocurrencies.
Cardano is a research-based cryptocurrency created by engineers, mathematicians, and crypto experts. It is open source, decentralized and uses proof of stake to reach consensus. You can also facilitate peer-to-peer transactions using ADA tokens. Cardano is one of the cryptocurrencies that are recovering from the 2022 crash.
The platform aims to address many of the issues facing the Ethereum blockchain while providing decentralized solutions. In short, the platform attempts to create an “Ethereum blockchain internet” by interconnecting Ethereum-compatible blockchain networks and integrating scalable solutions on top of Ethereum. It is also one of the cryptocurrencies that are recovering from the crash.
As one of the first digital currencies, Litecoin is increasingly being adopted for practical use and has become one of the fastest growing digital currencies. The team is constantly improving its network to speed up, reduce costs and increase security, making Litecoin one of the most attractive payment platforms. The latest update relates to Litecoin’s increased acceptance in the real world. More organizations are adopting LTC, most recently NetCent, Bitpay and Verifone. Litecoin holders can now purchase goods and services from these stores. Litecoin Gaming is another recent development as the team has updated the community. More is coming from the team.
Chainlink is designed to make smart contracts more convenient. This is Oracle’s decentralized network, which allows you to bring real data to any blockchain network. Chainlink is the largest and most popular orchestral network. The ability to integrate real-world data will increase the demand for Chainlink Oracle in the future.
Polkadot was created based on research that identifies the obstacles that blockchain networks will face in the future as cryptography becomes more widespread and drives some of the innovations in the industry. One of the obvious advantages of DOT is that it works on networks that can connect to other blockchain networks.
The fact that Dogecoin is still going strong after not being taken seriously is a statement in itself. First, Redditors raised prices to new highs in early 2021 as a way to prevent short-term speculative sales of Dogecoin by several Wall Street hedge funds. Elon Musk called himself “Dogefather” and promoted this cryptocurrency. While many claim the legitimacy of this coin, Dogecoin continues to gain a share of the market capitalization.
The appearance of Shiba Inu, which was launched in August 2020, in such a short period of time is truly mysterious. At one point, Dogecoin remained the number one currency on the memetic without much competition. However, another coin name, SHIB, was created from an online joke that was popular in 2013.