Sunday, June 23, 2024

Ten Cryptocurrencies to Watch Out for in 2022

In the past year, 2021, Cryptocurrencies have witnessed a roller coaster ride due to their high volatile nature. Some cryptocurrencies made incredible gains, whereas some busted massively. However, financial experts are assuming a bright future for this fast-moving market of cryptocurrencies in 2022. The Allied Market Research states, “The global cryptocurrency market size was valued at $1.49 billion in 2020, and is projected to reach $4.94 billion by 2030, growing at a CAGR of 12.8% from 2021 to 2030”.

Cryptocurrencies have exploded in popularity, and this market is currently the most lucrative one, and thus, many investors have started trading in this, taking advantage of unpredictable swings in their prices. But, it can be difficult for those who haven’t entered this market yet to decide how to enter it with such high prices. In addition, knowing which cryptocurrency to buy can be challenging as there are thousands of well-established tokens in the crypto markets. To help you out with this, we have come up with a list of top cryptocurrencies to watch out for in 2022 in this article.

1. Bitcoin

Bitcoin is undoubtedly the king of cryptocurrencies ruling the entire market for years. Often regarded as volatile due to many abrupt price drops, Bitcoin is still worth adding for those who can afford it because it consistently rises to higher levels than its previous peaks. Moreover, as per the experts, Bitcoin is a smart bet for long term holding thanks to its global appeal and high liquidity. Bitcoin runs on a blockchain like the other cryptocurrencies, a network of thousands of computers that verifies transactions in real-time without interference from intermediaries.

Cryptocurrencies

2. Ethereum (ETH)

Ethereum (ETH) is the second-largest digital token in the world behind Bitcoin, with a market capitalization of about $500 billion. Further, many financial experts believe it has a higher potential than bitcoin because of its widespread use with decentralized apps. In addition, it uses an open-source, public blockchain, enabling the end-user to run a custom code with its innovative contract feature. This platform potentially revolutionizes many industries by offering dApp developers, which is a  medium to build their projects and implement smart contracts. Over the past few years, its constant growth has intrigued investors to purchase and trade more.

Ethereum

3. Lucky Block (LBLOCK)

Another top pick for 2022 to keep an eye on is Lucky Block (LBLOCK), which seeks to revolutionize the lottery industry. This platform uses blockchain technology to improve standard lottery systems. Users can purchase lotto tickets using the platform’s native token LBLOCK, and the entire process is digitized and fair. Another fantastic feature of the Lucky Block roadmap is that there will be no jurisdictional restrictions on who can play its lottery games. Using Lucky Block, one can make pay-outs much faster and execute multiple prize draws every day. This revolutionary cryptocurrency currently has a total market capitalization of more than $200 million with its high popularity.

4. Shiba Inu (SHIB)

Shiba Inu (SHIB) is another new cryptocurrency that shot to fame in the past year with some of the enormous gains ever seen in the market. It is also one of the best-performing and most inexpensive crypto assets. Crypto investors keep high hopes for SHIB as the token has already exploded to a multi-billion dollar top-20 digital asset by market capitalization. Moreover, they consider it one of the most promising cryptocurrencies with hype on social media.

Ten Cryptocurrencies to Watch Out for in 2022

5. Stellar (XLM)

Stellar is another worthy choice for those who want to buy cryptocurrency this year. Its native cryptocurrency is the Lumen (XLM), and the network allows fast payments to be sent anywhere with low fees, regardless of the currency worldwide. In addition, it is designed with an open network for storing and moving money, allowing people to create, trade, and send digital money. This year, it is one of the best choices as it significantly alters the traditional banking system.

6. Cardano (ADA)

Cardano is lauded as an environment-friendly and more sustainable cryptocurrency. It aims to avoid the mining process’s energy-intensive parts, and its open-source blockchain network does have excellent prospects. Additionally, its system is designed by experts with a technology called Ouroboros, a peer-reviewed blockchain protocol. Thus it gives a safer option giving it a superiority over other blockchain networks. It also allows owners to stake coins and create their validator nodes.

Ten Cryptocurrencies to Watch Out for in 2022

7. Decentraland (MANA)

The next one up on the list is Decentraland. It has its cryptocurrency token, called MANA. Decentraland offers a 3D virtual world hosted on the blockchain. Users can create their characters, communicate with other players, buy land, and build real estate with the MetaVerse-Esque gaming platform. All game items are structured as NFTs, and one can monetize in-game exploits through the marketplace. Its value has increased in leaps and bounds over the past year. This cryptocurrency is expected to expand with stellar price gains with the expansion of Metaverse in 2022.

8. Binance Bitcoin

Binance coin (BNB), backed by the world’s largest exchange, is amongst the best cryptocurrencies for trading in 2022 with its increasing popularity. Most crypto exchanges accept BNB, and it is the third most valuable cryptocurrency in the world. In addition, BNB lets users of Binance reduce trading commissions through two independent blockchain networks, Binance Chain and the Binance Smart Chain. Because of this, the overall circulating supply is reduced, increasing the value of the token.

9. Dogecoin

Dogecoin (DOGE) was created as a meme or parody of cryptocurrency. Nonetheless, it is still very famous for its constant price jumps. Moreover, many crypto investors are betting on DOGE with Tesla CEO Elon Musk’s constant tweets and TV appearances mentioning Dogecoin in 2021.

10. Solana (SOL)

Last but not least, the final cryptocurrency with great potential is Solana (SOL), approaching as a significant rival to Ethereum. Thanks to its smart contracts technology, it has experienced a tremendous surge in 2022. In addition, SOL has an efficient blockchain and a unique hybrid of proof-of-stake and proof-of-history mechanisms. Thus, it processes transactions quickly and securely.

This article has summarized numerous cryptocurrencies that have exceptional price potential. Yet, cryptocurrencies are highly unregulated and risky, and there may not be any regulatory alternative for any loss from such transactions. Therefore, for investing in such a market, you should conduct thorough research and even take guidance from a professional financial expert for decision making. Nevertheless, after more than a decade of growth and maturation, the cryptocurrency market offers various benefits if strategized well. Hence determine your investment goals for 2022 and see how cryptocurrency could fit into them.

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