Welcome to “Top 5 Cryptocurrency Movers” where I look at all the major crypto coins on the market and choose the five that made the biggest move (either positive or negative) on this day, explaining my thoughts why the move happened, as well as the historical significance of the particular crypto. Here are my top five cryptocurrency movers for January 2, 2021:
#5: Bitcoin (BTC) ($32,726.14, +11.18%)
The Bitcoin train keeps charging to new all-time highs on a daily basis, as it broke the $30,000 barrier today, reaching $33,200 as its newest milestone. The oldest and most popular cryptocurrency continues to be on a historic and improbable bull run, doubling in price the last 37 days, and nearly quadrupling in value since the start of 2020. Only time will tell if this BTC run continues to more record highs or if we are in a bubble and a crash is next.
#4: Ripple (XRP) ($0.2193, -7.47%)
Although Ripple continues to fight allegations made by the United States Securities and Exchange Commission, the value of XRP keeps falling, in wake of the latest news that a total of 26 crypto platforms have announced plans of delisting the cryptocurrency, including the giant exchanges: Coinbase, Bittrex, Bitstamp, eToro, Crypto.com, and OKCoin. In other related Ripple news, supporters have filed a petition for the White House to declare XRP a currency.
#3: Decred (DCR) ($48.80, +17.59%)
The innovative cryptocurrency Decred had one of its best days, surging more than 17%. The reason for the increase in price was in part due to the delisting of privacy coins (Monero, Dash, Zcash, and Ripple) on many major exchanges the past few days, and those users are turning to DCRDEX, which is Decred’s first zero-fees decentralized exchange, which is completely private and KYC free. The percentage increase for DCR is on-par with Bitcoin, growing in value over 55% in the past 30 days.
#2: Polkadot (DOT) ($8.89, +7.93%)
Polkadot is having a banner six months since debuting on the market in August 2020. Not only is DOT near all-time record highs but is now the sixth-most valuable crypto coin per market cap, surpassing Bitcoin Cash today. The Polkadot ecosystem has big plans for 2021, adding parachain features and allowing developers to create apps on the DOT platform. BINANCE also announced a $10 million fund to support projects on the DOT network earlier this week.
#1: Dogecoin (DOGE) ($0.0097, +50.63%)
Dogecoin is reaping the rewards of this Bitcoin bull run, as investors looking for an affordable and dependable cryptocurrency option that can grow exponentially and multiply in price, are flocking to DOGE, resulting in an amazing 50% increase in one trading day! Dogecoin is no longer seen as just a memecoin that it was back in 2013, with many experts calling for the crypto to reach $1 by the end of 2021.
Note that these prices are as of 9:00 PM EST/6:00 PM PST on the given day, and might not reflect the current price of the coin at the time of viewing this post.
