Bitcoin has been the talk of the crypto town for the past couple of months. It has by far turned out to be one of the most successful cryptocurrencies with a record-breaking adoption rate among national and international institutions. Bitcoin witnessed a massive price rally last year in 2021. In fact, Bitcoin ATM service providers also reported exponential growth by the end of 2021. BTC, the digital gold of the crypto market, is considered a top celebrity among the vast number of tokens in the crypto sphere. But Bitcoin's massive success was short-lived when the crypto plunged deep. Indeed, the prices could climb up in the near term, given its strong price momentum, the potential for further institutional adoption, huge media and social media adoption, along the mindset that limited supply will translate into higher prices. But for some investors, Bitcoin's success has lost its charm and they are looking for other coins or tokens for investment. In this article, we have listed the top cryptocurrencies that investors can try out in 2022 if they have missed the Bitcoin rally.
The crypto that is most closely following Bitcoin's trajectory to the top is Ethereum. For the entire crypto market, Ether crypto accounts for more than 20 percent of the crypto market cap and is looking to make moves to the higher ground. ETH works for DeFi, and has become the go-to platform for developers who wish to create decentralized apps. The coin is also a platform for new technologies, such as smart contracts. Due to several other reasons, experts have concluded the fact that Ethereum might not be a bad option for long-term investment.
The superfast crypto of the industry is one of the favourite cryptos of market critics and analysts. Solana's market ranking as part of the top cryptocurrencies by market cap was one of the greatest incidents for the crypto market in 2021. Experts believe that Solana is a perfect choice for investment in place of Bitcoin because it provides several facilities like agility in conducting transactions, low transaction fees, and smart contract options that are not available on Bitcoin.
Tezos is a blockchain network that is based on smart contracts. Tezos' functionality is quite similar to Ethereum. It aims to offer infrastructure that is more advanced, which means it can evolve and improve over time without the possibility of becoming a hard fork. This is something that both Bitcoin and Etghereum have suffered since their inception. This open-source platform claims itself to be more secure and upgradable and claims that its smart contracts can provide the accuracy that is required for high-value use cases.
Cardano is a smart contract platform that is powered by the ADA platform. The Cardano development is known to possess a more evidence-based approach to development than any other blockchain project. Not only are several new innovations and developments constantly being submitted to academic journals, but the blockchain also features the industry's first peer-reviewed industry protocol.
Avalanche is a smart contracts platform that is powered by the AVAX token. The network is secured by snow protocols, a novel PoS consensus mechanism in which each node verifies transactions by repeatedly sampling a small subset of nodes until all are in agreement. This is a primary reason why the AVAX network is exponentially fast. The coin can process 4,500 transactions per second, but that figure could reach 20,000 transactions per second.
Dogecoin has become one of the most regarded coins in the crypto market. Primarily this coin was created as a joke, out of a coin, so, critics and analysts named it as a memecoin. But amazingly this coin has attracted several crypto investors, including tech celebrities like Elon Musk, who has taken to social media platforms to support Dogecoin and encourage other investors to invest in it. Even though Dogecoin slumbered deep, its market rankings have gone up recently.
Raking is the third-largest cryptocurrency by market volume, Tether surely makes up for a good investment option in 2022. USDT has portrayed stability in its value and has been consistently tracking the dollar. This is one of the major reasons why investors who are willing to invest in less volatile cryptocurrencies can opt for Tether. This stablecoin is a good investment for both long and short-term investments.
Launched in 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. It aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind creating Binance was to create a new paradigm in global finance. The coin is an integral part of the functioning of several Binance sub-projects.
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. Terra blends the price stability and the wide operation of fiat currencies with the censorship resistance of Bitcoin and offers fast and affordable settlements. LUNA can be used to stabilize the price of the protocol's stability. The holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.
Polkadot is an open-source sharded multi-chain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types. DOT also provides the foundation to support the decentralized web, controlled by its users, and to simplify the creation of new applications, institutions, and services.
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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.