The total market cap for cryptocurrencies as at the end of 2021 was $2.5 Billion. Irrespective of the current dip and bearish market action, that has seen crypto assets like Bitcoin(BTC) drop down to over 10%, Several other top Altcoins like Ethereum, BNB and more have also experienced their fair share of dips. But there's still a huge possibility for cryptocurrencies this year to reach new levels. Cryptocurrencies like Bitcoin continue to grow in value, popularity and is still being adopted. But with almost 16,000 crypto assets on Coinmarketcap currently, This means the dominance and dependence on Bitcoin has been reduced drastically. Traders and investors are now looking to new markets, to catch the next big wave in Altcoins that promise high returns.
Let's explore the best 5 cryptocurrencies you should consider buying in 2022.
Launched in 2020, Solana has grown to become a very popular and profitable digital currency and blockchain within a short period. It's one of the most scalable blockchains. it operates through a Proof-of-history consensus. This allows the network to be incredibly fast, secure, efficient and censorship resistant. Solana uses blockchain technologies permission-less nature to provide a very effective decentralized finance(Defi) solutions.
The TPS(transactions per second) of Solana is currently the fastest in the crypto industry at over 60,000 TPS, it's already ahead of VISA, and with much more improvement expected in the coming years.
In August 2021, Solana developed it's NFT(Non-fungible tokens) market-place which led to a significant increase in it's price and made it an attractive digital asset for investors to add to their portfolio. Solana is presently seen as the Ethereum killer because it offers very high speed and low fees 'almost no transaction fees', Unlike Ethereum's unpredictable high fees and slow network. With Solana's adoption consistently growing, It's price may reach new highs and become even much more valuable.
Terra is a blockchain protocol that offers stable priced universal payment systems, by applying fiat-pegged Stablecoins. Terra connects the price stableness and huge adoption of paper(fiat) money with the censorship resistance of Bitcoin. therefore enabling affordable and fast settlements. LUNA, the native token of Terra is used to stabilize the price of the protocols Stablecoins.
Terra Luna reached an all-time price high of $103 on the 27th of December in 2021, unexpectedly taking the crypto world by storm. The performance of this cryptocurrency has attracted investors globally. Terra was created in 2018. As at the time of this writing, it's in the top 10 on 'coinmarketcap'. A number of crypto assets can offer a safe-guard against and out-perform in bearish markets. Terra and it's native token Luna happen to belong to this special group.
You no longer need to go to a centralized lottery location. You can simply have access to play lottery games or online gambling activities from any location of your choice. The Lucky Block protocol decentralizes lotteries and gambling with it's unique blockchain technology.
All gaming activities are carried out and governed by smart contracts. Lucky block creates a safe space for these gaming platforms by providing convenience, transparency, fairness, integrity legitimacy and not restricting gaming or bet placements to geographical locations and traditional financial systems. Outcomes(Internal and external) cannot be manipulated using Lucky Block, And it's based on the Binance smart-chain. This Cryptocurrency has the potential to make lots of gains this year.
It's powered by the Ethereum network. It's a virtual reality platform that allows buying of virtual Real-estate(plots of land) by it's users to construct and monetize contents easily. MANA is an ERC-20 token used by the decentraland platform.
Launched in 2020, It's seen success in the building and creation of 3D scenes, games and other virtual reality experiences. Decentraland has a marketplace and MANA is used to pay for the diverse experiences, Avatars and so on. There's a lot of buzz around this crypto because it promises the shift to the metaverse. It's considered an innovative project with lots of potential for investors.
Launched in 2019, Cosmos is a Proof-of-stake blockchain that will facilitate interoperation, scaling, sharing and communication between independent networks through inter-blockchain communication protocols. The ultimate goal of cosmos and it's native token ATOM is to build the internet of block-chains, Where users will ostensibly switch between blockchains and profit from each networks strength while eliminating weaknesses.
This Cryptocurrency already has about 255 applications running on it's network including crypto.com and binance smart chain. it solves an important problem in the crypto industry.
Cosmos(Atom) has reached an all time price high of $44.72 and it's one of the best cryptocurrencies expected by analysts to explode in 2022.
As an investor looking to make above average profits in the market. It can be a challenge to find the best and top new Performing cryptocurrencies to buy because the crypto landscape is getting super-crowded. it's vital that you do your own research and due diligence before you choose the digital currency or asset that will meet your financial goals with minimal risks.