Sick of watching Bitcoin charts creep along at a snail’s pace? There’s a better way to profit from crypto volatility. By day trading the right coins, you can cash in on powerful breakouts and pump-and-dumps multiple times a day.
Today, we’re looking at the 15 Best Crypto For Day Trading in 2023!
Forget buy and hold. Day trading is where the action’s at if you want to capitalize on crypto’s wild price swings. But with over 20,000 cryptos to choose from, how do you know which ones to trade? We’ve got you covered. In this guide, we’ll reveal the top 15 coins for day trading and explain what makes them ideal for active crypto traders.
Interestingly, in 2021, day traders accounted for over 50% of total cryptocurrency transaction volume on major exchanges.
These digital assets consistently deliver the volume, liquidity and volatility needed to execute quick in-and-out trades. We’ll walk through the must-know metrics, trading conditions and strategies to target using these best cryptos for day trading.
With the right coins and tactics, you can profit no matter which way the crypto markets turn. Ready to start riding cryptocurrency waves to a fortunes? Let’s dive in!
TLDR: The 15 Best CryptoCryptos For Day Trading in 2023
- Day trading cryptos allows profiting from short-term volatility vs long-term investing.
- Analyze liquidity, volatility, market cap & circulation when picking coins to day trade.
- Bitcoin and Ethereum have top liquidity but also volatility for trades.
- Mid-cap coins like Litecoin, Cardano offer optimal volatility.
- Smaller cap cryptos like SOL, DOT, MATIC can see big daily price swings.
- Meme coins like DOGE are volatile for risky high-reward trades.
- Metaverse tokens like MANA & SAND are extremely volatile for short-term gains.
- Use major exchanges, pick 1-2 volatile coins, and capitalize on intraday price swings.
- Execute your strategy with these elite cryptocurrencies to profit from market volatility.
The 3 Most Important Criteria When Considering the Best Crypto For Day Trading
- Liquidity – You want a coin that has high daily trading volumes and tight spreads between the bid and ask price. This ensures you can get in and out of trades easily. Coins like Bitcoin, Ethereum and Litecoin tend to have good liquidity.
- Volatility – For day trading you want coins that experience significant price movements intraday. High volatility allows you to capitalize on swings in price. Analyze historical charts to identify cryptos with adequate volatility.
- Market Cap & Circulation – Coins with lower market caps and circulation supplies tend to be more volatile. Focus on mid to low cap coins like Ren, Loopring, or Swipe for volatility. Avoid extremely low cap coins as they can be manipulated easily.
The 15 Best Crypto For Day Trading in 2023
1. Bitcoin (BTC)
Liquidity: Bitcoin has the highest liquidity in the crypto market, with around $40 billion in average daily trading volume. This exceptional liquidity comes from BTC’s market dominance and widespread availability across all major exchanges. Traders can enter and exit large BTC positions seamlessly.
Volatility: Despite being the largest crypto asset, Bitcoin still shows adequate volatility for short-term trades. Its daily price movements regularly fluctuate in the range of 1-5%, allowing day traders to capitalize on these swings.
Market Cap & Circulation: Bitcoin has the highest market capitalization at over $500 billion. Its circulating supply is capped at 21 million BTC, giving it a relatively stable circulation. This makes Bitcoin less susceptible to manipulation.
2. Ethereum (ETH)
Liquidity: Ethereum is the second most liquid cryptocurrency, with daily trading volumes of around $26 billion. It is listed on every major exchange, ensuring ample liquidity for trades.
Volatility: Ethereum is more volatile than Bitcoin, with daily price changes of 3-8% quite common. This allows ETH day traders to target larger gains during intraday swings.
Market Cap & Circulation: Ethereum has a market cap of $220 billion and circulating supply of 120 million ETH. This balance of size and circulation makes ETH optimal for day trading.
3. Binance Coin (BNB)
Liquidity: BNB has average daily trading volumes of $1.7 billion, giving it excellent liquidity. It is one of the most traded altcoins in the crypto market across many exchanges.
Volatility: BNB often sees intraday volatility in the range of 3-6%. Its volatility is higher than BTC but lower than smaller cap coins.
Market Cap & Circulation: With a market cap of $49 billion and circulation of 165 million BNB, Binance Coin offers the stability of a large-cap crypto but with adequate volatility.
4. Ripple (XRP)
Liquidity: XRP has proven liquidity with nearly $4 billion in average volume each day. It is listed on most leading exchanges, supporting its strong daily liquidity.
Volatility: XRP’s price fluctuations are slightly higher than Bitcoin and Ethereum, making it a good choice for volatile trades.
Market Cap & Circulation: XRP has a market cap of $23 billion with a circulating supply of 48 billion coins, giving it stability and room for volatility.
5. Dogecoin (DOGE)
Liquidity: Popular meme coin DOGE has liquidity of around $2.3 billion daily. It is traded actively by a vibrant community of traders and speculators.
Volatility: DOGE is more volatile than large caps like BTC, with daily moves of 5-10% common. This makes it ideal for high risk/reward trades.
Market Cap & Circulation: With a market cap of $10 billion and circulation of 132 billion, DOGE offers traders both adequate liquidity and high volatility.
6. Litecoin (LTC)
Liquidity: Litecoin has high liquidity and trading volumes, consistently ranking in the top 10 cryptocurrencies by market cap. Its daily trading volume regularly exceeds $500 million across major exchanges like Coinbase and Binance. This high volume and liquidity makes LTC ideal for entering and exiting day trades with tight spreads.
Volatility: LTC experiences decent short-term volatility, with price fluctuations of 5-10% within a 24 hour period not being uncommon. While not as volatile as lower cap altcoins, Litecoin provides enough volatility for short-term trades. Its volatility stems from speculators and its correlation to Bitcoin.
Market Cap & Circulation: With a market cap of $3.5 billion and circulating supply of 66 million LTC, Litecoin has a mid-tier market cap. This prevents manipulation and combines adequate liquidity with volatility. LTC’s circulation supply is also sufficiently high for volatility.
7. Cardano (ADA)
Liquidity: As a top 10 crypto, Cardano has excellent liquidity. Its 24 hour trading volumes regularly exceed $500 million across platforms like Binance and Bittrex. Tight bid-ask spreads allow easy order execution. This high liquidity makes entering and exiting ADA trades seamless.
Volatility: ADA’s volatility typically ranges from 3-5% daily price moves. While not as volatile as small cap coins, these swings allow profitable day trades. ADA’s volatility comes from updates on its ongoing development and speculation around its potential.
Market Cap & Circulation: With a $10 billion market cap and circulating supply of 25 billion ADA, Cardano has a mid-tier market cap. This prevents manipulation while providing adequate liquidity and volatility. ADA’s high circulation supply also contributes to its volatility for trading opportunities.
8. Solana (SOL)
Liquidity: Solana has seen massive growth in liquidity in 2021, with 24 hour trading volumes exceeding $1 billion. As a top 10 crypto, SOL trades on major exchanges with tight bid-ask spreads. This enables easy order execution in and out of trades.
Volatility: SOL often sees intraday price swings of 10-15% making it ideal for short-term trades. Speculation around Solana’s potential continues fueling this volatility. SOL’s volatility declined as its market cap increased, but still remains attractive for day trading.
Market Cap & Circulation: Despite its growth, Solana still has a relatively low market cap of $11 billion considering its high circulation supply of 340 million SOL. This prevents manipulation while providing volatility. The high circulation supply also contributes to volatility.
9. Polkadot (DOT)
Liquidity: Polkadot has good liquidity, with 24 hour trading volumes around $600 million. As a top 10 cryptocurrency, DOT is listed on all major exchanges with decent spreads for entering and exiting positions. DOT’s liquidity makes it possible to execute trades smoothly.
Volatility: DOT often sees daily price movements of 5-10% making it a good option for short-term trading. DOT’s volatility comes from speculation around the potential of its blockchain platform and developing ecosystem. This volatility is attractive for day trades.
Market Cap & Circulation: With a market cap of $8.5 billion and 1 billion DOT tokens in circulation, Polkadot has a mid-tier market cap. This prevents manipulation while maintaining volatility. The high circulation supply also contributes to volatility from trading activity.
10. Avalanche (AVAX)
Liquidity: AVAX has seen huge growth in liquidity, now averaging over $500 million in 24 hour trading volume as Avalanche gains adoption. As a top 15 crypto, AVAX is listed on major exchanges with good spreads for order execution.
Volatility: AVAX is highly volatile, with daily price swings of 10-20% not being uncommon. This makes it ideal for capitalizing on short-term price action. Speculation around Avalanche’s potential continues fueling the volatility.
Market Cap & Circulation: With a market cap around $3 billion and 350 million AVAX in circulation, Avalanche has a mid-tier market cap. This prevents manipulation while maintaining volatility. The high circulation supply also contributes to volatility from trading activity.
11. Polygon (MATIC)
Liquidity: As an Ethereum scaling solution, Polygon has seen huge growth in liquidity with 24 hour volumes exceeding $1 billion. It’s listed on major exchanges with tight spreads. This enables smooth execution for entering and exiting MATIC day trades.
Volatility: MATIC is highly volatile with price swings of 15-20% in a single day being common. This makes it ideal for capitalizing on short-term price action. Speculation around Polygon’s role in Ethereum’s ecosystem drives the volatility.
Market Cap & Circulation: Polygon’s $3.5 billion market cap and circulating supply of 6.3 billion MATIC give it a mid-tier market cap. This prevents manipulation while maintaining volatility. The high circulation supply contributes to liquidity and volatility.
12. Terra (LUNA)
Liquidity: Terra has quickly gained liquidity with 24 hour trading volumes now exceeding $750 million as its ecosystem expands. Listed on major exchanges, LUNA has decent spreads for order execution.
Volatility: LUNA often sees daily price moves of 10-15% making it suitable for short-term trades. Speculation around Terra’s DeFi applications and growth potential fuel the volatility.
Market Cap & Circulation: Despite rapid growth, Terra still has a relatively low market cap of $2.5 billion considering its high circulation supply of 400 million LUNA tokens. This maintains volatility.
13. Uniswap (UNI)
Liquidity: As a top DeFi protocol, Uniswap has tremendous liquidity with 24 hour trading volumes of $1 billion+. Tight bid-ask spreads on major exchanges allow easy order execution.
Volatility: UNI is volatile with daily swings of 10%+ common. This makes it ideal for short-term trades. Speculation around DeFi growth and protocol upgrades drive UNI’s volatility.
Market Cap & Circulation: UNI has a mid-tier market cap at $5.5 billion with a circulating supply of 500 million tokens. This provides adequate liquidity while limiting manipulation.
14. Decentraland (MANA)
Liquidity: Trading volumes for MANA often exceed $250 million showing growing liquidity as interest in metaverses rises. Listings on top exchanges ensure tight spreads for order execution.
Volatility: MANA is highly volatile with price fluctuations of 20%+ in 24 hours not being unusual. This makes it feasible to capitalize on short-term price swings.
Market Cap & Circulation: With a $1.5 billion market cap and circulating supply of 1.5 billion MANA, Decentraland has a small market cap that maintains volatility.
15. The Sandbox (SAND)
Liquidity: SAND has quickly gained liquidity with 24 hour trading volumes now surpassing $300 million as sandbox grows in popularity. Tight spreads on major exchanges allow smooth order execution.
Volatility: SAND is extremely volatile, often seeing daily price fluctuations of 25-30%. This makes it ideal for capitalizing on short-term price action.
Market Cap & Circulation: Despite rapid growth, SAND maintains a relatively small market cap at $2 billion with a circulating supply of 800 million tokens. This prevents manipulation while maintaining high volatility.
Wrapping Up: The Best Crypto For Day Trading
With all this knowledge about the top coins for active crypto trading, you now have the blueprint to start executing winning day trades. You understand which digital assets have the optimal blend of volume, volatility and market dynamics to ride intraday swings to profits.
Whether you’re looking to scalp quick profits or capitalize on powerful breakouts, these best crypto picks deliver. Now it’s time to put your new expertise into action. Choose a top exchange, fund your account and select one of these elite cryptos to start trading.
Set up your charts, dial in your strategy and watch these digital goldmines print money for you all day long. With the right know-how, every trading session can pump out gains no matter which way the fickle crypto markets swing. It’s time to leverage crypto volatility and begin trading your way to game-changing wealth. Start reaping the rewards today!
