Top 7 Cryptos to Day Trade in April 2022

When it comes to interacting with cryptocurrencies, there are several ways in which you can choose to approach them. People who do not have the time or the patience to constantly keep an eye on the market behavior and new events typically turn to long-term investing. Those who want to see profits in a shorter timeframe might choose to trade over a somewhat longer period of time, such as a few days.

However, there are also those who wish to engage with the market regularly, make trades daily, or even multiple times per day. These day-traders will have to keep a watchful eye on the market, however, and especially on what is going on and how it might impact the prices. But, at the end of the day, chart behavior is their main tool, as they are showing all that you need to know in order to make the right move.

Now, all you need to do is figure out which coins to day trade, and you can begin. This is actually something that we can help with, as we created a list of top 7 cryptos to day trade in April 2022.

1. Bitcoin

The first on our list is Bitcoin, and that is really not surprising anyone, given how volatile the coin is, how quickly and suddenly it can move, and how massive jumps it makes. On March 27th, 2022, the coin was sitting slightly above $44,000, only for it to jump to $48,000 in mere hours, as the new week started.

However, it is also important to remember that things can quickly go the other way around. In November 2021, Bitcoin saw the kind of growth that it never saw before, even reaching a new all-time high, before it started a crash that took away nearly 50% of its price in a matter of two months.

Simply put, Bitcoin sees a lot of activity, which is not surprising, given that it is the first and largest cryptocurrency, the most dominant coin on the market, and the trend-setter for the entire industry. Its brand alone is so massive that, for a lot of people, it is synonymous with the term cryptocurrency itself.

To learn more visit our Investing in Bitcoin guide.

2. Ethereum

The second coin on our list is Ethereum, which is almost as well-known as Bitcoin at this point. Ethereum is the largest altcoin, and the second-largest cryptocurrency based on market cap. It is also considered by many to be the second-most important coin that was ever created, thanks to the fact that the Ethereum network revealed the true potential of blockchain technology. Until then, blockchain was simply used to record transactions. Ethereum revealed that it can store massive quantities of information, including code, which led to the invention of smart contracts, dApps, DeFi, NFTs, and more.

Ethereum may be subject to Bitcoin’s dominance too, but that doesn’t mean that the coin doesn’t see massive movements when it does decide to move. The problem with Ethereum, however, is that it has quite high fees, due to its inability to scale and process transactions as they emerge. This leads to long waiting periods, and those who wish their transactions to be processed faster typically offer a higher fee. This, in turn, raises the average fee size, and it makes Ethereum an expensive coin to trade daily.

You can, of course, still do it, but it is only recommended for those who work with higher amounts.

To learn more visit our Investing in Ethereum guide.

3. Cardano

In the third spot, we have Cardano. Now, Cardano is relatively new to the high volatility list, as it has been fairly stable before 2021. Over the last 15 months, however, the coin has seen massive surges and crashes, as it got sucked into the rally as soon as the last year started.

From that point forward, it has followed the market trends quite strongly, and its own development — specifically the completion of the Shelley Era in October 2021 — caused a major surge. Most of it happened in anticipation of the launch of smart contracts, and now that this happened, ADA is receiving new utilities, while the network is becoming richer with projects all the time.

In other words, Cardano’s days of stability are most likely over, and that is always great news for traders.

To learn more visit our Investing in Cardano guide.

4. Solana

Halfway down the list, we have Solana. This is another blockchain project that aims to work as a development platform, where its native cryptocurrency, SOL, will have various utilities. In fact, Solana is considered to be one of the biggest competitors to Ethereum. It learned from Ethereum’s mistakes and it made its own chain in accordance with that knowledge.

Now, Solana is one of the fastest and most scalable blockchains in the industry, with extremely cheap transaction fees, and a growing ecosystem. Will it actually overtake Ethereum someday? Maybe, and maybe not. Perhaps another project does it first, or maybe Ethereum’s upgrade, ETH 2.0, gives the original development network a competitive edge that it desperately lacks.

The fact is that Solana sees a lot of activity, and that it is a much more beneficial chain that is attracting new projects, as well as existing projects that have found Ethereum’s ecosystem to be too difficult for them to keep operating in. As a result, SOL is seeing an increased amount of activity, and with that comes volatility and price jumps that day traders need in order to make successful and worthy trades.

To learn more visit our Investing in Solana guide.

5. Dogecoin

Moving on to number 5, we have Dogecoin. The famous meme coin that emerged as a joke back in 2013 certainly saw its fair share of popularity over the years, somehow managing to survive to 2022, even when its own developers did not expect it to survive more than a few weeks, or months at best. But, DOGE remained, and in 2021, it exploded yet again.

Thanks to wave after wave of support and investments by its ever-growing community, as well as countless mentions and references by Elon Musk, Dogecoin has seen massive quantities of attention last year, which eventually led to a major surge in its price. Day traders had a lot of fun with this coin. Even now, it is making great moves, going both up and down. In other words, there are plenty of opportunities for those who are willing to buy it and sell it within a single day.

To learn more visit our Investing in Dogecoin guide.

6. Gnosis

Nearing the end of the list, we have Gnosis. This is a project that was launched in mid-2017, it participated in the bull run of 2017/2018 and then crashed to a bottom, even lower than its starting price. The coin spent half of 2018, the entirety of 2019, and another half of 2020 rather. After that, the token’s price skyrocketed from $30 to nearly $600 in a matter of one year.

And, naturally, like most other cryptocurrencies, it has seen growth and losses, as the bulls and bears continued to switch in dominating the market. But, that only means that the project entered the period of massive fluctuations that now come daily.

The project itself is the associated execution-layer EVM chain for stable transactions that uses xDai token, but it also has its native cryptocurrency, GNO. Its mission was and still is to focus on experimentation and the creation of a decentralized infrastructure for the Ethereum network.

7. Zilliqa

Finally, we have Zilliqa, which has a fairly similar story as Gnosis. After launch in 2018, its price crashed, only to skyrocket later on during a May 2018 surge, that many confused with a recovery rally. The project then crashed, and for two full years, it has been relatively calm. That changed with the arrival of 2021, when ZIL exceeded its own past records, and after dropping in mid-May 2021, it did not mirror the market’s autumn surge as strongly as other cryptos.

However, it did start to see more and more activity, and in late March 2022, it skyrocketed by around 150% in a single day, going from $0.048 on March 26th, to $0.1193 on March 27th.

This explosive growth was every ZIL day trader’s dream come true, and while things like these do not happen every other day for Zilliqa, it is clear that the project has massive potential for growth.

To learn more visit our Investing in Zilliqa guide.

Conclusion

While long-term investments certainly have their benefits, those who wish to see results quicker — even if that means that their profits will be smaller per round and that they will have to be significantly more active — can definitely find what they need in day trading. Day trading is a great way for those seeking excitement to enjoy themselves, and during the particularly volatile periods, they can also make quite a bit of money, too.