Ethereum ( ETH 0.25%), the second-largest cryptocurrency, has more uses than Bitcoin because of its smart-contract capabilities. But its success so far has also made it popular as a way to hedge against inflation, so they have that in common. Let's see which of these top cryptocurrencies is more up to that task.

The volatility in the crypto market led to more than $900 million in liquidations over the past 24 hours, according to Coinglass data.

A sharp upside surprise in U.S. producer price inflation triggered a $420 million wipeout in crypto markets on Wednesday, exposing lingering vulnerabilities in market leverage during macroeconomic data shocks.