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Ethereum Most Volatile Crypto in New Year - TheStreet

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Date: 2022-01-18 22:28:34

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Mark Twain once said that if you don't like the weather in New England now, just wait a few minutes.

The same might be said of cryptocurrency.

Cryptocurrency is almost synonymous with volatility as the market is still the new kid on the blockchain.

But there are degrees of volatility within the crypto jungle and it pays to know some of the wilder cards in the deck.

As a new year begins, ethereum platform, which native cryptocurrency is ether, was found to be the most volatile cryptocurrency, based on its standard deviation in the last 20 days. 

The second largest cryptocurrency after bitcoin reported an average volume of 18.70 billion over the last three months, according to Yahoo Finance.

In January 2021, ethereum’s price was just a little over $1,000. The price then soared to reach an all-time high of $4,878.26 on November 10. But since then, it has not stopped falling. It was trading at $3,165.58 at the time of writing on Tuesday.

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Solana, a public blockchain platform, was second, with an average volume of 2.70 billion. Its internal cryptocurrency is SOL.

Dogecoin came in third with an average three-month volume 1.90 billion. Dogecoin is considered to be the first "meme coin" and the first "dog coin" It was created as a joke by two software engineers.

Ethereum classic was third on the list with an average three-month volume of 713.8 million. Ethereum classic maintains the original, unaltered history of the Ethereum network.

Ethereum, meanwhile is the blockchain that resulted from a hard fork of the network that happened in July 2016.

Hard forks happen when miners vote for a significant change to the blockchain protocol. Hard forks create new blockchains and after a hard fork, both the old and new versions of the blockchains persist, separate and side by side.

And finally, Filecoin was the fifth most volatile cryptocurrency with an average three-month volume of 626.1 million.

Filecoin was launched in August 2017 and raised over $200 million within 30 minutes.

Original Source: https://www.thestreet.com/investing/cryptocurrency/ethereum-most-volatile-cryptocurrency-in-new-year