These cryptocurrencies are some of the most profit-bearing assets this month

The cryptocurrency market is in a bearish cycle this February 2022. The total market cap hit over $2 trillion on February 8 but dipped again to under $1.9 trillion. Except for Bitcoin and a few stableccoins, most of the top 20 cryptos are down over the last 7 days. 

But not all is bad. Some coins with recent merchant partnerships, developments and strong fundamentals are strong despite a market dip. These include Bitcoin, the world's largest cryptocurrency, as well as memecoin Shiba Inu, and utility-linked coins from Avalanche and XRP. We also look at EverGrow Coin, the only altcoin not in the top 20, but which is growing with strong fundamentals and exciting new developments in 2022.

Bitcoin (BTC)

Bitcoin has had a bullish February 2022 so far. After seeing a dip in January to fall to $33,000, prices have risen to over $45,000 in the last week. BTC is currently trading at $42,422 according to CoinMarketCap. 

Many analysts are predicting a strong 2022 for cryptos as inflation hits a 40-year high and is currently at 7.5% in the US. Investors looking to diversify portfolios and hedge funds into cryptocurrencies to beat inflation are likely to buy up crypto like Bitcoin in February 2022. This could see price rises, and it's worth bearing in mind prices hit $68,780 back in November last year.

Avalanche (AVAX)

Avalanche is up 3.73% over the last 7 days, as prices rose to nearly $95 on February 10. AVAX is currently trading at $81.12 according to CoinMarketCap. 

Avalanche is the fastest smart contracts platform in the crypto industry. Avalanche offers the development of smart contract-enabled applications that can outperform the competition and has secured over 400+ projects since launching in 2020.

AVAX is the native token of Avalanche, and is used to pay for fees, staking, and is a basic unit among the subnets created on Avalanche. This digital currency is a great example of linking tokens to strong fundamentals and is one of the only crypto coins to see growth at this point.

EverGrow (EGC)

EverGrow is the baby of this list, as it was only launched in September last year. But the EGC crypto token quickly neared a $1 billion market cap and attracted over 130,000 investors. The price has fallen to $0.0000005762 but with a suite of new developments in the pipeline, analysts are suggesting EverGrow could be the next breakout crypto gainer in 2022.

With a recent partnership announced with SafeMoon, Ever Grow Coin has positioned itself as one of the world's top rewards tokens. The developers and finance professionals behind the project have built-in passive income generation, redistributing over $34 million to investors without them doing anything with their EGC tokens. 

EGC's social media is also popular with videos of its upcoming social media platform Crator – the world's first social media platform that integrates both cryptos as well as fiat payments. The team also has a P2E game in development, staking pools, and a wallet for 2022. 

Projects like EverGrow are part of a new crypto breed attaching tokens to strong utilities and could be a great investment for 2022.

Shiba Inu (SHIB) 

Shiba Inu is up 24% over the last seven days, according to CoinMarketCap. This memecoin has a market cap of $15 billion and is the 14th largest cryptocurrency after having a bullish run last year. 

But as a memcoin Shiba Inu needs to develop either more hype or new utilities to see a similar 2022.

And that's what the team has done. Shiba Inu's rise in February can be linked to a number of announcements, like Welly's fast-food chain accepting Shiba Inu as payment. Bigger Entertainment also announced 162 million SHIB tokens will be burnt on Valentine's Day, driving up scarcity and price. In early February the blockchain solutions firm Unification announced development on the Shibarium. This layer-2 solution will be optimised for gaming.

XRP (XRP)

XRP has seen strong 25% growth over the last seven days. With a market cap of more than $38 billion, XRP is the fastest growing in the crypto top 10 this week. The XRP token is currently trading at $0.8404.

XRP is the token that runs on the RippleNet digital payment platform. This platform is a real-time gross settlement (RTGS) system aiming at instant monetary transactions across the world. RippleNet can process payments in 3-5 seconds. XRP is the native token of the XRP Ledger but you can use any currency to transact on the platform. 

This project is another example of cryptocurrencies linked to wider real-world technological objectives. The crypto coin has been going since 2013 and saw a spike in 2018 where it hit $3.38. XRP is seeing another rise and a top coin for February 2022 investment.