In the constantly changing environment around cryptocurrencies, investors are actively seeking shares that will bring them high profits as soon as possible. Some of the investments are long-term, but who does not love getting big returns within a short time in the crypto market? In its very nature, the market is full of potential opportunities for a shrewd trader to exploit price swings. Here, let us look at the most popular two cryptocurrency pairs that are now trending and which one should consider for short-term traders.
Without a doubt, the Bitcoin (BTC) and Ethereum (ETH) pair still continue to be one of the favorites in the crypto market. They are the leading coins with large market capitalizations to provide relative stability amid the cryptocurrency market. Because of its high liquidity and acceptance among various merchants, Bitcoin is still used as a trading instrument for gaining profits in a short period, which is why it is often called digital gold. Ethereum, as the home of smart contracts as well as the launching pad of the DeFi and NFT industries, offers a volatile trading space for high-frequency traders eager to make a fast buck.
Solana appears to be one of the competitors now, and it has the outstanding characteristic of super-fast transactions at a meager fee. Combining it with Binance Coin (BNB), the in-house token of the Binance exchange forms a compelling pair for traders. Holding Binance Coin within the Binance platform, combined with the constant expansion of its use cases, puts it on the list of assets suitable for short-term trades.
The Meme Coin Phenomenon: Currently, Dogecoin and Shiba Inu can be distinguished as popular cryptocurrency assets
The meme coin sector has been on an uptrend, especially DOGE and the relatively recent SHIB. These coins may have existing social media trends and influencer promotions, which can bring about rapid changes in the prices in the short term. However, they also have relatively high levels of risk mainly because they are regarded as speculative assets.
Polkadot (DOT) and Cardano (ADA) are two digital assets that share the vision of bringing scalability to Blockchain technology and creating compatibility between different blockchains. Due to their up-and-coming technologies and environments, they are becoming attractive industries for traders. There are short-term investment prospects in Polkadot’s cross-chain capabilities, as well as the Defi integration and Cardano’s secure and scalable blockchain.
Two such currencies that have been making the rounds are Chainlink (LINK), a decentralized oracle network, and Avalanche (AVAX), a cryptocurrency with high throughput and low latency. These currencies promise high returns in the short term owing to their specific value propositions and growing popularity in different blockchain-related initiatives. These pairs remain popular, and investors are carefully monitoring their progress in their respective fields of application.
All in all, the cryptocurrency market remains relatively diverse, which makes it perfect for getting a quick buck. Starting from the leaders of the crypto world, such as Bitcoin and Ethereum, moving to the new stars and even bating coins, there is a great variety of pairs suitable for different risk tolerance and tactics. Similar to any stock purchase, one has to engage in research and be up-to-date with the market situations that may affect the price of the stocks. However, all the top two cryptocurrency pairs discussed above could yield good short-term returns if approached carefully.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.