The cryptocurrency market is undeniably one of the most volatile and fast-moving markets globally. Based on its standard deviation over the last month, Ethereum has been the most volatile cryptocurrency, with several fluctuations in Ethereum price.

Because the crypto market is still regarded as new on the block, crypto is closely associated with volatility. However, the crypto market has varying degrees of volatility. Based on its regular deviation in the early days of 2022, the Ethereum platform, whose cryptocurrency is ether, has been proven to be the most volatile cryptocurrency with massive fluctuations in Ethereum price.

Ethereum, the second-biggest cryptocurrency behind Bitcoin, had an average volume of 18.70 billion in the last three months. Ethereum’s price was trading over $1,000 in January 2021. On November 10, the price rocketed to an all-time high of $4,878.26. But it hasn’t stopped dropping since then.

Ethereum is a favorite among programmers due to its potential applications, such as so-called smart contracts. This coin has exhibited incredible growth over time in this turbulent cryptocurrency market. Its value increased from roughly $11 to over $3,700 between 2016 and 2022, demonstrating its volatility and will remain in 2022 and beyond.

As November 2021 continued, Ethereum price volatility increased, with percentages roughly twice as high as they were at the start of the month. Ethereum price variations are due to proposed tax restrictions revealed in a US infrastructure bill that could impact crypto investors. The percentages presented below reflect how much Ethereum prices in US dollars varied historically during ten days, as measured by a statistic called volatility. Changes can be positive or negative, with increased volatility indicating a riskier asset because price changes are more difficult to forecast and can swing in any direction.

Other Cryptocurrencies With High Volatility

Solana

With an average volume of 2.70 billion, Solana, a public blockchain platform, came in second. SOL is the company’s proprietary cryptocurrency. Solana was created to support decentralized apps (DApps) and smart contracts in decentralized finance (DeFi). This coin has procedures in place that allow it to perform transactions swiftly and safely. Its price was roughly $0.77 when it was first released, and it is currently around $170.

Dogecoin

With an average three-month volume of 1.90 billion, Dogecoin came in third. Dogecoin is widely regarded as the first “meme coin” and “dog coin.” Two software programmers made it up as a joke.

Ethereum Classic

Ethereum classic preserves the Ethereum network’s original, unaltered history. Boasting an average three-month volume of 713.8 million, Ethereum classic is number three on the list. Meanwhile, Ethereum is the blockchain that emerged from a network hard fork in July 2016.

A hard fork occurs when miners decide on a significant change to the blockchain protocol. Hard forks produce new blockchains, and both the old and new versions of the blockchains exist side by side following a hard fork.

Bitcoin

It’s no surprise that Bitcoin is popular among investors worldwide. This cryptocurrency is highly volatile, but what keeps investors interested is the notion that Bitcoin can return to normalcy, if not beyond normalcy, and provide massive profits for its investors.

Polkadot

Polkadot, founded to integrate blockchains by building a cryptocurrency network, has seen rapid growth since its inception. S price increased by 925 percent in just four months, demonstrating its unpredictability.

Cardano has attracted attention for various reasons, including lower energy use, faster transaction times, and steady growth despite the cryptocurrency market’s volatility. This cryptocurrency has grown by nearly 6600 percent in the last four years.

Ripple (XRP)

XRP can be used to facilitate trades of various currency kinds, including fiat currencies and other major cryptocurrencies, on Ripple, a digital technology and payment processing company. From the beginning of 2017 until the present, this digital currency has grown by around, 13700 percent. All of these demonstrate how volatile this coin is.

Binance Coin

Binance currency has grown tremendously since its introduction in 2017. It may now be used for trading, payment processing, and even booking trip reservations, in addition to enabling deals on Binance’s exchange platform. It has grown from $0.1 in 2017 to over  50000 percent presently.

Filecoin

Finally, with an average three-month volume of 626.1 million, Filecoin was the least, most volatile cryptocurrency. In August 2017, Filecoin was established, and within 30 minutes, it had raised almost $200 million.