Altcoin day trading madness: 100% rebound in hours for Polygon, Maker


TL;DR breakdown

  • Altcoins records rebound.
  • Day traders to trade altcoins.

Last week was a tough week for the digital assets as there was a drop in the entire crypto market. Almost all the digital assets were red except a few altcoins, with a slight percentage increase on Sunday. 

The crypto space volatility repeated itself on Sunday when most altcoins slipped; however, the all-time digital currency Bitcoin (BTC) dominance continued.

On Monday, things were different in the crypto world. Small digital assets have recorded a double increase in their prices, with this sudden surge astonishing many crypto supporters. The investors in the crypto sphere are pleased, and they hope that the digital assets continue surging. 

Altcoins values increase in double digits

 Monday was a day that started well for the Polygon (MATIC) and Maker (MAKER) investors, where the coins posted a double increase to over 100% increase from yesterday’s values.

crypto values double source: pixabay

In the morning hours of Monday, the value Polygon (MATIC) had recorded a significant increase. On Sunday afternoon, the value of the coin had slipped to $0.75. Therefore the coin surged by more than 100%. 

The rise came as the digital asset suffered a massive drop from over $2 to less than a dollar in just seven days.

Maker also rose by more than 100% in less than 12 hours. The coin had also posted an almost 63% loss in the last one week before it recorded a double-digit increase.

Day traders on altcoins 

Small digital assets have recently alarmed the day traders. The day traders believe that the small digital assets can double their money within a day. On Monday, after many days of consecutive market losses, traders are delighted about the rebound in many of the digital assets.

The top two digital assets have also recorded an increase, although by small percentages. BTC had recorded a rise of only 17% and Ether a surge of 32%. The two coins that have been close competitors have experienced less volatility throughout the recent market pump. Their subsequent losses proved to be less severe, with BTC and ETH losing 51% and 60%, respectively, since their recent all-time highs.

Many traders rejoice in such volatility, yet the harsh fact remains that day trading is a full-time job, and according to some estimates, as little as 1% of day traders actually turn a profit.

Mark Donald

Mark Donald

Mark Donald, hailing from the Blockchain Island Malta, is someone you can trust to deliver exactly what is needed for the job, the very definition of blockchain. He breathes life into innovative ideas while working with talented people who are eager to share their knowledge and skills. With a team player like Mark, it's a cinch Cryptopolitan will reach its highest goals.

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