The cryptocurrency market has always grabbed eyeballs and the rising number of crypto investors says it all. Considering the current scenario, there cannot be a better time than now to sell cryptocurrencies. As major cryptocurrencies like Bitcoin and Ethereum continue to plummet, more and more investors wish to flee the market, which is adversely affecting daily trading volumes and reducing the overall crypto market cap. According to experts, the primary trigger for the current crypto crash is heightened inflation fears and service pausing by several crypto exchanges. Here is the list of the top 10 cryptocurrencies with the potential to sustain inflation in 2022.
Binance is the world's largest cryptocurrency exchange that hosts a variety of trading functions. The firm burns its native BNB token every quarter through buybacks utilizing its operational profits and BNB reserves. As this burning continues, the value of its tokens is expected to significantly rise in the upcoming years. This makes it a perfect hedge against inflation.
Avalanche is a blockchain platform designed to support decentralized applications, which use self-executing smart contracts to offer services on the network. But is different from other cryptos due to its lightning transaction speed and its distinctive burning protocol. The platform is created to maximize investments through its burning protocol, which aims to boost the price of its native token, aiding its value in the long run.
ALGO, founded by noted computer scientist Silvio Micali, has positioned itself as a competitor to the Ethereum blockchain. Hundreds of companies use it, according to Securities.io, and it got a huge lift last year when El Salvador said it would establish its blockchain infrastructure using Algorand. More recently, the venture capital firm Borderless Capital launched a US$500 million fund to invest in digital assets that power decentralized applications on Algorand, Blockworks reported.
XRP is a good investment during inflation because while mining the token, investors need to pay fees for every transaction. These charges are not sent to any central authority or even as a reward to validators. Instead, the developers burn them, making them a deflationary coin.
CRO is the native token of the crypto.com platform. Before the launch of this platform, the developers burnt nearly 70 billion CROs, estimating around US$10 billion. This integrating burning protocol makes it an efficient deflationary token and favorable crypto to buy during inflation.
Polygon introduced its version of the Ethereum Hardfork, which makes its pricing more predictable, eventually making MATIC deflationary by burning coins. Its purpose is to avoid over-flooding the market with token circulation, eventually improving the overall value of the token.
Decentraland is a virtual reality game on the Ethereum blockchain that uses the MANA token as an in-game currency. Users can purchase goods and services, buy land and visit other players, as well as create and monetize their own content. MANA's price of US$0.8424 as of July 1 represents about a 71% increase from its 52-week low of US$0.4649 and an 85% decrease from its 52-week high of US$5.90.
Litecoin is quite similar to Bitcoin and hence would prove as a good investment during inflation. Its supply is designed to dip in the coming years, which will make its existing coins rise in value in the future.
EOS focuses on making blockchain operations more efficient and easier to handle. Its network uses a delegated proof-of-stake consensus mechanism, which deploys delegates for its governing protocol. EOS can also burn its tokens, given its community proposes to do so to curb inflation.
Bitcoin Cash's supply is capped at 21 million coins. It also reduces the rate of mining by almost 50% every four years, which indicates that its circulating supply also keeps decreasing. Due to coin burns, its market value has witnessed a price hike.
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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.