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The crypto market has had a tough start to the year. The total market cap dropped below the US$2 trillion mark for the first time since September, and many major cryptocurrencies have lost around 15% or more. In 2021, Bitcoin hit multiple new all-time high prices over the past year — followed by big drops — and more institutional buy-in from major companies. Ethereum, the second-biggest cryptocurrency, notched its own new all-time high late last year as well. U.S. government officials and the Biden administration have increasingly expressed interest in new regulations for cryptocurrency. Cryptocurrencies in 2022 have immense potential to thrive even more than 2021. Thousands of cryptocurrencies to invest in in 2022 are entering the market to attract the eyes of crypto investors. This article features the top 10 cryptocurrencies that will make a big impact in 2022.
Bitcoin is still by far the most popular cryptocurrency, and its price movement has a strong impact on the rest of the crypto market. It is considered the original crypto, and its launch in 2009 is what started the whole cryptocurrency movement. The exposure to Bitcoin has instigated crypto investors to realize that Bitcoin is one of the top cryptocurrencies that will make a big impact in 2022.
Ethereum is another option for the most popular cryptocurrency to buy in the market, as many believe it has a higher price potential than Bitcoin. The platform offers dApp developers a medium to build their projects and implement smart contracts, potentially revolutionizing many industries. The imminent upgrade to Ethereum 2.0 is set to make waves, as it'll see the platform transition to a Proof-of-Stake mechanism – significantly boosting speed and lowering fees.
Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it's backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether's value is supposed to be more consistent than other cryptocurrencies, and it's favored by investors who are wary of the extreme volatility of other coins. It is one of the best cryptocurrencies that will make an impact in 2022.
Somewhat later to the crypto scene, Cardano is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin.
Solana is easily one of the best-performing cryptocurrencies this year and has become a hot topic among crypto investors. It has grown more than 15,000 percent on a year-to-date basis. It is one of the best cryptocurrencies that will make an impact in 2022. Any asset that expands from less than US$1 billion in market capitalization to more than US$70 billion in a few months, should certainly be one to keep your eyes on.
Ripple is a money transfer network aimed at financial institutions. It is in the midst of a legal battle with the Securities and Exchange Commission, which has ramifications for a number of other cryptocurrency projects. As a result of the ongoing legal skirmish, XRP has been delisted from most U.S. cryptocurrency exchanges. It is one of the best cryptocurrencies that will make an impact in 2022.
If you buy Polkadot, you might not be aware that it's a project called Web 3.0. The network is known for growing, and when compared to Ether, it is better at charging low fees and having fast speeds. DOT can be the market leader and head the decentralized because of its top spot in the rankings and steady rise in market value. Crypto investors have a lot of faith in this cryptocurrency that it will make an impact in 2022.
Binance Coin is the cryptocurrency issued by Binance, among the largest crypto exchanges in the world. While originally created as a token to pay for discounted trades, Binance Coin can now be used for payments as well as purchasing various goods and services.
Dogecoin is an open-source, peer-to-peer cryptocurrency. It's classified as an altcoin and a snarky meme currency. The Shiba Inu dog serves as the emblem for Dogecoin, which was launched in December 2013. Even though it was developed as a joke, Dogecoin's blockchain still retains value. The technology that underpins it is based on Litecoin. It is one of the best cryptocurrencies that will make an impact in 2022.
USD Coin is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by US$1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.
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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.
