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The global cryptocurrency market has always enjoyed a lot of attention ever since it came into existence. At present, there are thousands of cryptocurrencies in circulation. But the past few months have been a nightmare for the market due to many reasons. But right now, the Crypto market is in the recovery phase. Bitcoin is the king of cryptos, but coins like Ethereum, Cardano, Dogecoin, and Shiba Inu are also popular. Now, things can be confusing and overwhelming for first-time users to know exactly which cryptocurrencies are ideal for investment. Having said that, the potential that cryptocurrencies hold leaves us with curiosity as to what the future picture looks like. This article features the top 10 cryptocurrencies to buy as we enter the second half of 2022.
There's absolutely no surprise whatsoever that Bitcoin still reigns as the world's most popular cryptocurrency. Its market cap currently stands at nearly US$1.3 trillion. If Bitcoin were a company, it would be bigger than Meta Platforms (formerly known as Facebook) and Tesla. Bitcoin continues to enjoy the advantage of being the first cryptocurrency. It's more widely accepted than any other digital coin, mainly because it's been around longer.
Ethereum is the second-most popular cryptocurrency in the global cryptocurrency market among the community of crypto investors. It has launched Ethereum 2.0 to drive the improvement and better customer experience in financial transactions. It is known as the first cryptocurrency to launch smart contracts before other cryptocurrencies. Ethereum is one of the top cryptocurrencies to invest in before it hits another bullish run.
Binance Coin is the native token of one of the world's largest cryptocurrency exchanges. Binance focuses on bringing cryptocurrency exchanges to the forefront of financial and economic markets. Even though the Binance Coin seems to suffer currently because almost all crypto exchanges are suffering due to the plummeting crypto values, Binance Coin might prove to be a more profitable investment than several other cryptocurrencies in the market.
XRP was created by the founders of the digital payment processing company Ripple. The crypto serves as a platform for allowing exchanges between both crypto and fiat currencies. Ripple is investing heavily in the NFT projects that use the XRP ledger, which is a public blockchain. Experts believe that this investment indicates that the crypto is positioning itself as another 'Ethereum killer'.
Litecoin is a cryptocurrency that was designed to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology. It is one of the hottest tokens in the industry today. Since its inception, Litecoin has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence.
USD Coin (USDC) is a type of cryptocurrency that is referred to as a stablecoin. You can always redeem 1 USD Coin for US$1.00, giving it a stable price. On Coinbase, eligible customers can earn rewards for every USD Coin they hold. Each USDC is backed by one dollar or asset with equivalent fair value, which is held in accounts with US-regulated financial institutions.
Dogecoin is the first meme cryptocurrency that started with a joke that trended on the internet a long time back. After keeping a position of safety for some since its commencement in 2013, Dogecoin showed potential in 2020 when it was acknowledged as a payment model among sports teams and entered the AMC theaters. In addition, enormous names like Elon Musk and Mark Cuban prefer Dogecoin over other cryptocurrencies. A single tweet from them could make the DOGE price go berserk.
Polygon is a futuristic platform that has Ethereum compatibility. Its token called 'MATIC' is being utilized for governance, staking, and gas costs. The network creates interlinking blockchains and also helps investors overcome some complex Ethereum problems. The Polygon architecture is secluded by Ethereum, security, Polygon networks, and execution layer.
Tether is another Ethereum token that encounters less volatility. Also called a top stablecoin, Tether is pegged to the US dollar. Therefore, you can buy a Tether coin with just a dollar. However, the stablecoin might look weird to some investors. The whole point of many cryptocurrencies is to reap big benefits for buyers. On the other hand, Tether is here to profit long-term token holders.
Polkadot is a one-of-a-kind cryptocurrency that aims to make blockchain interoperability accessible to the general public. Polkadot is a decentralized internet that allows different blockchains to share data and information in a trustless manner via the Polkadot relay chain. Its protocol connects permissioned and permissionless blockchains and also oracles, enabling systems to communicate in a single environment.
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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.
