Cryptocurrencies made a lot of money this year. Dogecoin became a social media sensation, and Bitcoin continued to shine and break records with an all-time high of $68,000. El Salvador even adopted Bitcoin as its national currency, becoming the first country to do so. Let’s hope for 2022 to be an even crazier year. Today, I’ll go over the top 5 cryptocurrencies to look for in 2022.
1. Bitcoin (BTC):
Bitcoin needs no introduction, even if you aren’t a crypto expert, holding BTC is the safest bet. 2021 began on a high note, with a value of $29 thousand. On October 20, it hit a new high of $66,930.39, and many feel this is just the beginning of the bull run’s second leg. It goes without saying that you should own Bitcoin, but what about optimising earnings and diversifying your portfolio? Check out our predictions on which altcoins will be the next big thing in 2022!
2. Avalanche (AVAX):
Avalanche has a one-layer, three-chain design. It is fast and scalable because it separates exchanges, contracts, and subnets into specialised chains. AVAX started from $3.3 to $86.72 at the time of writing. The specific intentions for 2022 are currently unknown, but at this rate, AVAX will remain one of the best cryptocurrencies to own in 2022.
3. Polygon (MATIC):
Matic Network, a Plasma Ethereum scaling solution, became Polygon in 2021, expanding its network. Developers can leverage Optimistic rollups and ZK chains, which are different sorts of scaling solutions for different applications, using the Polygon SDK. Matic has grown by 10,011 percent after its rebranding.
Scaling solutions like Polygon are the only way to use Ethereum at faster transaction speeds until the Proof-of-Stake switch. Polygon will either provide an opportunity for bear traders to profit, or it will adjust and continue to provide value to holders. In either case, it’s a win-win situation!
4. Ethereum (ETH):
Ethereum is ranked 2nd after Bitcoin, in terms of Market Capitalization. Smart contracts enable a massive network of use cases: tokens, stablecoins, Defi and NFT’s. In 2021 Ethereum has beaten its all-time high reaching $4,366.09. Its valuation increased by 470.71%.
Aside from the organic growth that can fuel long-term appreciation, there is a merger with Ethereum 2.0 coming this year. The merger will switch the network from Proof-of-Work to Proof-of-Stake algorithm. This will change the economics, transfer governance from miners to stakers, as well as help make Ethereum more sustainable.
5. Binance Coin (BNB):
Prior to 2021, it was difficult to imagine Binance Coin becoming one of Ethereum’s key competitors. Binance Smart Chain revolutionised the market by giving a network fee-free alternative to Ethereum. The success of Defi on BSC was reflected in the price, it even surpassed its prior high of $690.93.
Binance’s workforce is growing, indicating that the company is committed to the long haul: they’re adding top-tier AML and compliance experts. It is apparent that it will continue to expand, providing BNB with new applications.
(Disclaimer: This material is not intended to provide financial advice. Remember that crypto is an extremely volatile and high-risk investment. Investments should only be made after due research and analysis, and at your own risk.)