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The year 2021 was an eventful year for cryptocurrencies and the crypto market was glorified, but 2022 has brought more challenges to the sphere. At present, competitive cryptocurrencies are gaining the attention of crypto investors as they are continuously leaning towards the highly volatile venture to gain profit in crypto wallets with extensive research. Despite the market's volatility, the overall sentiment about crypto currencies is still positive. With so many ups-and-downs there are few cryptocurrencies that are ruling the market. This article features the top 10 best performing cryptocurrencies of January 2022.
Bitcoin has been the oldest and the largest cryptocurrency. BTC runs on a blockchain or a ledger logging transaction distributed across a network of thousands of computers. It is speculated that Bitcoin can show new ways to unlock competitive crypto assets efficiently. Bitcoin is one of the best performing cryptocurrencies of January 2022.
Tether is another Ethereum token that encounters less volatility. So far, Tether is one of the best performing cryptocurrencies of January 2022. Tether is pegged to the US dollar. Therefore, you can buy a Tether coin with just a dollar. Many crypto investors find it weird, but even they agree that Tether is a cryptocurrency of the long run.
Centcex is one of the best performing cryptocurrencies of January 2022. Many crypto investors are getting attracted to Centcex because the team is working on enhancing the user experience and security functions in multiple applications. The staking is providing 100% APY of the revenue with its wide range of products.
Bitgert is a cryptocurrency that offers the first-ever gasless blockchain in the financial sector to solve concerns regarding expensive gas issues. Which makes Bitgert one of the best performing crypto currencies with its powerful DeFi or blockchain-based project than the other blockchain exchanges present in the crypto market.
Avalanche is surely one of the best-performing crypto currencies in the crypto market. It is the fastest smart contracts platform in the blockchain industry. Avalanche is extremely agile, has low transaction fees, and is also environmentally sustainable. The AVAX token is hard-capped and can be used as a model for conducting payments.
Ethereum is different from Bitcoin because it is not only a cryptocurrency but a network that allows developers to create their own cryptocurrency utilizing the Ethereum network. While Ethereum is far behind Bitcoin in value, it's also far ahead of the other competitors. Many crypto investors consider Ethereum as one of the best performing cryptocurrencies of January 2022.
The Binance Coin or BNB is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest cryptocurrency exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance's exchange platform. It is one of the best performing cryptocurrencies in January 2022.
USD coin anchors its value to the dollar and operates on various blockchains like the Algorand, Ethereum, Solana, and more. It works on CENTRE technology, which appeared as a joint effort by Coinbase and Circle. Additionally, it is a crypto-backed stablecoin. Its fund reserves remain in the FDIC-insured US banks. Looking at the other cryptocurrencies, the performance of USD coin has been remarkable.
The Cardano network has a smaller footprint, which is appealing to investors for several reasons. It takes less energy to complete a transaction with Cardano than with a larger network like Bitcoin. This means transactions are faster and cheaper. Last year, Cardano launched a "hard fork," an upgrade that increased functionality — in this case, enabling smart contract deployment. It is one of the best performing cryptocurrencies of January 2022.
Terra is a blockchain payment platform for stablecoins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the Terra platform and is used to mint more Terra stablecoins. Terra is one of the best performing cryptocurrencies in January 2022.
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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.
