The year 2021 was a record year for cryptocurrencies as people saw the global crypto market value rise briefly to US$3 trillion. Bitcoin, being the largest cryptocurrency by market value, witnessed repeated bullish price rallies, including other major altcoins and meme coins which gained huge traction. Other digital currencies like NFTs are sold at millions of dollars alongside fine art in major virtual auction houses. The top cryptocurrencies continue to gain traction in several facets of government, business, and personal financial activities. Our society is increasingly becoming digitally driven, with financial service providers looking for the best-performing cryptocurrencies to create a digital currency model and ascertain that the companies can provide financial services economically and efficiently. Here, we list down the best-performing cryptocurrencies to buy before Holi.
The Cardano network has a smaller footprint, which is appealing to investors for several reasons. It takes less energy to complete a transaction with Cardano than with a larger network like Bitcoin. This means transactions are faster and cheaper. Last year, Cardano launched a "hard fork," an upgrade that increased functionality in this case, enabling smart contract deployment. It is one of the best performing cryptocurrencies to buy before Holi.
Algorand uses the advantages of both centralized and decentralized blockchain projects. It is efficient and effective, like a centralized platform and governance model of decentralized projects which ensure accountability. It is also one of the best performing cryptocurrencies to buy before Holi.
Hedera looks to stand apart from the rest of the crypto industry. It is a hashgraph, an algorithm partly created by Dr. Leemon Baird. This helps to provide more efficient usage of its bandwidth and as a result, can process a huge number of transactions in a short amount of time. For this reason, HBAR has the potential to be far more sustainable than many of its competitors.
Fantom has been down by 13% since the crypto made its way at the beginning of the year. But the crypto rose almost 3000% with an 18,000% increase in transaction growth in 2021. Currently, most developers are flocking towards Fantom to build decentralized platforms and applications. Also, some experts believe it is one of the most undervalued cryptocurrencies in the market.
Polkadot is one of the most popular cryptocurrencies on the crypto market. The low fees and higher speeds than the Polkadot network offer, when compared to other cryptocurrencies, make it a number one choice for crypto investors. Polkadot is perhaps the best of the rest when it comes to scalability. It is one of the best performing cryptocurrencies to buy before Holi.
Bitcoin crossed US$65,000 back in 2021, but the success was quite short-lived after the BTC dived down and fell back into a deep slumber. It fell as low as US$40,000. But presently, BTC is fighting back from its bearish mode and is currently revolving around US$43,000. Experts believe that BTC's price value will plummet and will continue to rise in the future.
Near is another crypto project worth considering for investment in 2022. A look at the token's performance in the market since its launch in mid-October 2020 shows a coin that has consistently maintained an upward growth. This is an indication that investors have confidence in this project.
Cosmos is another blockchain developed to address the limitations of the proof-of-work consensus protocols. The major problems are expensive, unscalable, and environmentally harmful. These limitations are common with Bitcoin, Ethereum, and other PoW blockchains. The project started in 2014, and the team has so far built a PoS blockchain that addresses major Ethereum problems such as low throughput.
Helium is a decentralized global network that rewards users for providing connectivity to new types of Internet of Things (IoT) devices. Helium allows anybody to earn cryptocurrency, HNT, by becoming a network operator and offering connections for a new breed of IoT gadgets. The project has raised over US$53 million in seed, series A, series B, and Series C funding.
Ethereum is both a cryptocurrency and a blockchain platform and is also one of the favorite programs for developers since its potential applications like smart contracts can automatically execute the required conditions and NFTs. Since its inception, Ethereum has witnessed major price volatilities but has continued to steadily increase in value.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.