Top 5 Altcoins to Look Out For in 2022
Cryptocurrencies have taken the world by storm over the past decade. They went from being an interesting experiment to carving a place for themselves as a high-return asset class. Bitcoin, the first-ever cryptocurrency, had a solid run, as it saw an ATH of over $68,000 in November 2021. Ethereum, the second-largest cryptocurrency, and other newly-launched altcoins also experienced immense mainstream success in the past year as people branched out and started paying more attention to altcoins.
As of January 2022, there are more than 6000 cryptocurrencies in circulation. Moreover, cryptocurrencies, especially altcoins, have more potential in 2022 than they did in 2021. And investors are eagerly looking forward to what this year holds for cryptos and what the top altcoins in 2022 will be.
So, let’s look at the Top 5 Altcoins presumed to take the crypto markets in 2022.
Ethereum continues to remain the most popular altcoin of all time. It is the second-largest cryptocurrency globally and is among the top altcoins to look out for in 2022. It is a type of blockchain network that is used to build decentralized apps and smart contracts that can operate without any third-party interference. Ether is the digital currency associated with Ethereum.
A large percentage of NFTs (non-fungible tokens) are based on the Ethereum network, making it arguably the most useful and functional blockchain in the world. Ether is currently trading at $2,200 per coin. With the growing trend of NFTs and the rollout of Ethereum 2.0 in 2022, Ethereum is expected to fall among the top altcoins to look out for in 2022.
Binance Coin (BNB)
Binance Coin (BNB) is the native currency of the Binance Smart Chain (BSC) and is ranked as the fourth-largest cryptocurrency after Bitcoin, Ethereum and Tether. Binance coin surged nearly 1,300% in the past year and is expected to be one of the top altcoins to look out for in 2022. Binance Coin is used on Binance, which is the biggest crypto exchange by volume in the world.
Between BNB’s low-network fees, ATH of $690, and the success of DeFi on Binance Smart Chain have rocketed the coin’s value in 2021. Considering these factors and the fact that Binance is a stable platform that enables swift transactions where several cryptocurrencies can be sold or bought ensures that it would fall among the top altcoins to watch out for in 2022. BNB is currently trading at $342.
XRP is the virtual currency of the Ripple digital payments network. Although it has remained on the sidelines, XRP’s value started surging last year and is one of the top altcoins to look out for in 2022.
Built specifically for digital payments, XRP enables financial institutions to conduct global transactions with minimal delays and affordable fees, and it is expected to grow more popular in 2022. XRP is currently trading at $0.5646 and is the seventh-largest crypto by market cap.
Litecoin, an early bitcoin, was created in 2011. Despite having lagged other altcoins for years, it is still seen as a better and faster alternative to Bitcoin with its faster rate of block generation, permitting shorter times for transaction confirmation. Given its age, Litecoin has a higher degree of credibility as compared to many of the newer altcoins. It is predicted to grow even more popular in the coming year and is definitely among the top altcoins to look out for in 2022. LTC is currently trading at $100.
Dogecoin is the original memecoin, based on the Japanese Breed hunting dog Shiba Inu, and is another one of the top altcoins to look out for in 2021. Although it was launched in 2013, it came to the limelight in 2021 when its price peaked in summer earlier this year. While it does represent a joke more than anything else, this coin is accepted as a form of payment by some major brands like Kronos, Dallas Mavericks, and Elon Musk-owned SpaceX. Elon Musk, Tesla’s CEO, has been at the forefront of promoting DOGE and has also claimed to be working with developers to improve the Dogecoin system efficiency, which has helped drive its rise of value and popularity. DOGE is the tenth-largest crypto and has a market cap of $17 billion. It trades at $0.12
Altcoins are great alternatives for crypto investors interested in diversifying their portfolios. They represent the potential cryptocurrencies have in reshaping the modern finance ecosystem.
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