Cryptocurrencies might have started out as a revolution in the traditional financial and economic markets, but since their adoption into the mainstream markets, this investment class has made it to the top of the investment pyramid. Institutional investors and centralized banks are also considering adopting digital assets to gain profits when they surge and offer their customers safe crypto transaction means. Despite the volatility, several cryptocurrency investors are staying on the lookout for the next big cryptocurrency, in other words, the next Bitcoin contender. By the end of the year 2021, cryptocurrencies surged massively and even declined to their lowest points. But crypto fanatics did not lose hope. Instead, they held onto their crypto investments, until Terra Luna blew up the reputation of the crypto ecosystem. Currently, investors are wondering which digital coin will accumulate the biggest potential return. Well, even though, it might be quite hard to intercept the next cryptos to invest in, there are certainly several contenders that have made their position in the market amid this tumultuous state of the market. Here, we enlist the top cryptocurrencies that might turn into profitable investments in 2022.
Ethereum surely is one of the top contenders that might overtake Bitcoin in the near future. Since Terra's massive blow, major cryptocurrencies like BTC and Ether have remained stagnant and have been unable to recover their values. But not all hopes are lost! The ETH 2.0 upgrade is still due and is expected to become a catalyst that will surge Ethereum's market value soon.
Recently, Cardano is hitting the headlines as the next big cryptocurrency. The ADA network is one of the most popular and fast-growing blockchains that follows secure and sustainable use cases in the real world. The ADA token has recently acquired extended attention as a proof-of-stake blockchain. Investing in Cardano might be a wise investment choice in the second half of 2022.
Binance Coin is another cryptocurrency that should be on your watchlist in 2022. Binance is the world's largest cryptocurrency exchange based on trading volumes and the number of users. Its native coin BNB can be used for investing, payment processing, and booking travel arrangements. BNB also supports the Binance Smart Chain, which is home to a range of other cryptocurrencies.
This is quite a known fact that Tether sits at the top of the stablecoin pyramid. Even though stablecoins have lost the trust of the investment community after UST depegged from the dollar, Tether still continues to be a favorable investment option. It might not be blindly trusted, but its nature is not as volatile as the rest of the cryptocurrencies.
Decentraland is a virtual reality game based on the ETH blockchain which uses the MANA tokens as the in-game currency. Users can purchase goods and services, buy land and visit other players in the game. The Decentraland platform enables these gamers to create and monetize their content on the internet, also providing alternate means of income. DEcentraland has risen lately due to its massive role in developing metaverse gaming.
The Sandbox is a metaverse cryptocurrency that has been soaring lately. Even though the crypto market is in a vulnerable state right now, the SAND token has maintained a consistent reputation of being a profitable investment due to the rising popularity of the metaverse.
Algorand has positioned itself as one of the biggest competitors of Ethereum. The crypto gained massive attention from the crypto community when El Salvador declared that it would establish its blockchain infrastructure using Algorand. One of ALGO's biggest advantages is that it uses the 'proof-of-stake' algorithm that offers extensive security and scalability, and is also more sustainable.
Like ETH, Polkadot was also designed to support an ecosystem of decentralized applications and decentralized finance services. Polkadot is quite famous among Web 3.0 fanatics. DOT generally aggregates multiple blockchains. Its core blockchain uses the proof-of-stake consensus protocol which makes the platform extensively secure.
XRP is the native token of Ripple. It proposes a cheaper and more efficient alternative to the popular SWIFT system to process international transactions. XRP Ledger is Ripple's open-source blockchain with the XRP coin as its native asset. It runs independently of the Ripple economy, and investors can use it for various purposes.
Apecoin made its way to the top in 2022. It is indeed a new cryptocurrency and represents the Bored Ape Yacht Club NFT collection. Since the crypto market meltdown, investors are moving towards the NFT market and, hence, Apecoin has been performing extremely well. Due to its present popularity, experts believe that in the future, APE will gain the potential to overtake major cryptocurrencies.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
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.