The phenomenon of cryptocurrencies is enabling people to, for all intents and purposes, create their own money. Coin value and levels of seriousness may fluctuate between entries on this list, but the inescapable fact is that each was created for and serves a community. Here are the top 10 unfamiliar cryptocurrencies that are gradually growing fast.
Decentraland (MANA) is a virtual reality platform where users can create and monetize their own experiences. It is part of the metaverse scene and users can burn the MANA token to acquire NFTs called LAND where they can build their experiences. The MANA token has been around for a few years now to some moderate success. However, this all accounted for very little until the 2021 bull run which saw MANA pass above $1 for the first time and then past $1.50. In 2021 huge news broke that Facebook's parent company Facebook Inc will be rebranding to Meta Platforms Inc and that it will begin to focus on building a metaverse. On the back of this news, as CryptoBriefing reports, Decentraland rocketed in value, increasing by approximately 340% in a few short days. Price forecasters are rather bullish on Decentraland's prospects, all suggesting it might be able to retain its new highs well into 2022.
Algorand (ALGO) is a permissionless 'pure' proof-of-stake cryptocurrency and is often believed to be one of the most efficient around today. It was primarily designed to be a faster and more efficient Bitcoin. Up until recently, Algorand's price performance has been a little awkward. After it started trading in June 2019, it lost a lot of value, dropping from $2.16 down to $0.19 in October, losing initial investors a lot of money. Since then, it has worked hard to return to its original highs, recuperating much of this value in 2021, first hitting $1.71 in February and then $2.37 in October, showing a return to form. ALGO's ATH is $3.28 on the 21st of June 2019. Algorand continues to garner the attention of the public as it forges partnerships, a trend we will likely see continue into 2022. In September 2021, Algorand signed a $100 million deal with the Drone Racing League, as told by Matthew De Saro of BeInCrypto.
Enjin Coin (ENJ) is the cryptocurrency used by the Enjin Network, a network of blockchain games, and is used to give value to tradable in-game items in the form of NFTs. ENJ was super successful in 2021 just like many of the other coins in this list, partially because of the increased interest in NFTs. From rather low prices before 2021, ENJ breached $1 for the first time in March and continued up to $4.00 in April 2021, and then reached its ATH $4.85 in November. Since then, it has been trading far higher than at any point before its existence. Enjin Coin has been very experimental in how NFTs can be used which could impact its value in 2022. For example, in March 2021 dance moves were turned into animated NFTs which could be purchased by players and used as in-game 'emotes', as reported by Sebastian Sinclair of CoinDesk. Furthermore, and perhaps more importantly, Enjin Coin partnered with Microsoft to create cross-platform NFTs for Minecraft in February 2021 to celebrate International Women's Day, also reported by Sebastian Sinclair. This is massive news and could lead to further partnerships between the two in the future.
Binance Coin is one of the largest cryptocurrency exchanges and altcoin crypto exchanges in the world by volume. This is compatible with any smart device and lets crypto investors start trading safely with convenience. Binance Coin is set to have great potential in 2022 with 2.0 billion average daily volume and more than 1,400,000 transactions per second. It offers a lot of different products in this exchange platform that is beneficial for crypto investors in the nearby future.
MarketMove is one of the top cryptocurrencies with the best potential in 2022 for its issue with AI-driven contract audits. This cryptocurrency in 2022 is set to introduce different features from the rules of decentralized exchange for attracting the eyes of crypto investors. The initial supply of MarketMove was one trillion and is known for being hyper-deflationary. It is observed that this cryptocurrency is worth holding for long-term crypto investors in their digital wallets.
inSureDeFi is well-known for the world's first insurance ecosystem to protect crypto investors from scams, frauds, and devaluations. Crypto investors are instigated to buy this token to apply for insurance in the nearby future and the token is enabled after seven days post-purchase in digital wallets. The more demand for insurance protection, the more will be the demand-supply quantities. Thus, this is one of the top cryptocurrencies with the best potential in 2022.
Polygon (MATIC) has absolutely transformed Ethereum, helping turn it into a network of multi-chains where developers can build their own applications and infrastructure. In 2021, Polygon became one of the top must-have cryptocurrencies. As you probably expected, 2021 saw Polygon reach new heights after trading at relatively low prices in previous years (typically at fractions of a cent). Keeping up with the rest of the crypto market, MATIC was already breaching new ATHs by February, surpassing $0.50, $1 in April, and $2 in May before hitting its ATH of $2.92 on the 27th of December 2021. Polygon's ascent to the top is not surprising at all when you know that its number of unique addresses recently topped 100 million, Francisco Memoria of CryptoGlobe reports. Breaching 100 million was an ATH for Polygon and brings it a step closer to catching up with Ethereum, which has approximately 175 million unique addresses, according to data from Etherscan.
Cardano has the eyes of crypto investors for being one of the top cryptocurrencies with great potential in 2022. It has a market capitalization of US$55 billion in 2021 with a good climb up the ladder of the cryptocurrency market. 2022 is a make-or-break year of this cryptocurrency with its trading at around US$1.60.
TrumpCoin was created on 20 February 2016, a few months before Donald Trump's ascension as the Republican Party's official nominee in that year's presidential election. The token's creators call TRUMP (the coin) a "worldwide fundraiser and support tool" for non-distinct beneficiaries labeled 'Patriots', as well as generally supporting the former president's political aims. Trump himself was not officially affiliated with the coin which bears his digital visage.
Presumably also a reference to a fictional substance from the 2009 sci-fi movie Avatar, Unobtanium is appropriately named because of its purposefully low supply; the website states that only 250,000 can be mined over the next 30 years. Although it does not pretend to entirely circumvent price volatility, UNO's creators claim that this rarity has facilitated "an unparalleled history of growth and value retention" and bill it as a potential store of value equal to "precious metals." While every effort has been made to keep the altcoin's distribution "fair", the verdict on whether UNO's rarity will make it genuinely interesting as a digital 'gold standard' or merely a curiosity of the crypto boom remains to be seen.
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.