February 19, 2024 (Investorideas.com Newswire) A new study reveals the most and least stable cryptocurrencies, with Tether and BitTorrent being the safest bets for traders and Bonk and Bitcoin being the most volatile.
The research by online crypto casino Bombastic analyzed data of the largest 100 cryptocurrencies by market cap, according to CoinGecko, and ranked each based on year-on-year (YoY) price changes to determine the ranking.
The most bullish cryptocurrencies
Injective (INJ) experienced the greatest, with a 1,587% difference – its price rocketed from $2 at its earliest value to $33.77 at the time of writing.
Kaspa (KAS) follows with 1,420% growth from $0.006 to $0.098.
Bonk (BONK) has seen values rocket by 813% YoY from $0.00000115 to $0.0000105.
Akash Network (AKT) experienced a 765% positive YoY change.
Celestia (TIA) and Conflux (CFX) rank fifth and sixth with over 500% growth in price.
Stacks (STX), Render (RNDR), and Siacoin (SC) grew by over 300%.
Roning (RON) ranks tenth most bullish, with a 267% change from $0.6 to $2.25.
The most bearish cryptocurrencies
GALA’s price has sunk the most, with a 58.3% negative YoY growth from $0.053 at its earliest value to $0.022.
Flare (FLR), The Sandbox (SAND), and Axie Infinity (AXS), in second, third, and fourth place, saw values drop by over 40%.
Decentraland (MANA), EOS (EOS), 1000SATS, Aptos (APT), Flow (FLOW), and Algorand (ALGO) experienced average YoY drops of over 35%.
A spokesperson from Bombastic commented on the findings: “Now, with years of historical data, these findings offer traders an insight into the riskiest coins to invest in. Among the most bullish coins are ones attached to games networks such as Gala, Axie Infinity, and The Sandbox. It could signal that market sentiment towards these gaming ecosystems is downward or in favor of other coins”.
All data was gathered from CoinGecko.com
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