Top 10 Cryptocurrencies that Increased Investors’ Wealth by 30% in 2022
Here are top cryptocurrencies that can be considered ideal for investments, know why
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, and Cardano 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 that increased investors’ wealth by 30% in 2022.
Bitcoin
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
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.
Binance Coin
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
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’.
Cardano
Cardano is one of the fastest-growing projects in the cryptocurrency space. The team behind its open-source blockchain conducts extensive research and regularly publishes its results in peer-reviewed academic papers. Their research is focused on building a scalable, secure, and efficient decentralized network by taking a systematic approach to blockchain research and development.
Avalanche
Among the largest cryptocurrencies by market cap, the one that excites me the most and has a realistic chance of tripling in value this year is Avalanche. Avalanche is a smart contract-driven blockchain network that offers incredible speed and compatibility, which makes it a logical choice with which to develop decentralized applications (dApps). Smart contracts are the protocol that helps with verifying, facilitating, and enforcing the negotiation of a contract between two parties.
Solana
Solana is a functional open-source project that utilizes blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. Although the idea behind the Solana project began five years ago, the official launch of Solana was in March 2020. SOL is the native cryptocurrency that oversees all transactions on the Network.
USD
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.
Polygon
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
Tether is another Ethereum token that encounters less volatility. Also called a top stable coin, 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.
