These are the ten cryptocurrency projects to watch in 2022.
There are dozens of cryptocurrency currencies available now, and many of them have bright futures in the market. However, several coins have continued to increase and fall in value throughout the course of 2022, making it difficult to determine which cryptocurrencies have the most promising futures. Therefore, today we'll talk about the currencies to watch for in 2022 and why.
Top 10 Crypto Coins to Look Out For in 2022
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1. XRP (XRP)
You may be familiar with XRP because it is a well-known cryptocurrency with a sizable market share. With a 24-hour trading volume of more than $1 billion, XRP is now the ninth most popular cryptocurrency in the world. But why is this specific coin so valuable?
Ripple introduced XRP in 2021 with the goal of enabling quick, scalable, and cost-effective platform-to-platform transactions. XRP transactions are processed in roughly 3-5 seconds and typically cost $0.0002. XRP has substantially faster transaction speeds and lower transaction costs than other well-known cryptocurrencies like Bitcoin, which makes cryptocurrency more widely available.
Even if XRP will only be worth a fraction of a dollar in 2022, this does not imply that the coin will fail. Instead, because of its capacity to provide speedy and inexpensive transactions to its consumers, it has what appears to be a promising future in the market.
2. Elrond (EGLD)
Elrond has had highs and lows since first hitting the cryptocurrency market in September 2020. However, the cost increased gradually throughout 2021, peaking at $490 in November. Unfortunately, Elrond's worth has substantially dropped since then and is currently just about $50. Although this may seem worrying, it's crucial to remember that several cryptocurrencies, including Elrond, have struggled during 2022.
Elrond can provide lightning-fast transactions, just like XRP. To do this, this particular network employs a process called sharding, in which a single blockchain is divided into a number of "shards," or separate chains, each of which has a distinct purpose. One may manage commerce, while another might be for governance. Blockchains become more scalable and enable faster transaction processing because to this workload division.
Additionally, Maiar, a well-known cryptocurrency wallet and staking program, supports Elrond. Maiar may be staked through a variety of providers, where you can earn some respectable payouts, to get Elrond.
3. Ethereum (ETH)
You've most likely heard about Ethereum if you're interested in cryptocurrencies. It's now the second-most popular and valuable coin available (although there is a sizable price differential between the two) in the market.
The market capitalization of Ethereum, which is presently close to $200 billion, is also rather astounding. It boasts an equally impressive $18.7 billion in 24-hour trading volume. Therefore, despite the fact that this cryptocurrency suffered a setback in the first half of 2022, it is still a major player with a lot to offer, particularly in light of the Ethereum blockchain. It is possible to create tokens, dApps, NFTs, and other DeFi services using this blockchain, which is now the most well-liked blockchain in the whole globe.
Additionally, Ethereum has started rolling out ETH 2.0, a hard fork to a new proof-of-stake blockchain that will enable transactions that are more efficient and environmentally friendly. This is fantastic news for Ethereum and the cryptocurrency industry as a whole, making Ethereum a wonderful choice for individuals looking to get into crypto without harming the environment.
4. BNB (BNB)
You might be familiar with Binance because of the hugely well-known cryptocurrency exchange. However, Binance has also created a cryptocurrency called BNB (commonly known as Build'N'Build). As a result of its present popularity, BNB today has a significant 24-hour trading volume of approximately a billion dollars. Originally known as Binance Coin, the name was changed when Binance determined that the coin had grown to be more than just a representation of the company.
The ecosystem of the BNB Chain uses BNB as its native currency. The BNB Beacon Chain and BNB Smart Chain make up this. As a top-tier blockchain for dApp, NFT, and token creation, the BNB Smart Chain today competes with Ethereum and is extremely well-liked. Because BNB's costs are often minimal, you won't pay a lot more money every time you make a transaction.
5. Decentraland (MANA)
Decentraland is an intriguing platform that stands out from many others in the blockchain industry. In this 3D virtual environment, gamers use cryptocurrency-based assets to buy or sell real estate and other items. Additionally, this network has created its own coin, called MANA.
MANA was first introduced to the cryptocurrency market in 2017, but significant price increases didn't occur until 2021. (which makes sense, given the huge boost in crypto popularity over the past year). With a market valuation of more over $1.4 billion, it currently has a daily trading volume of over $120 million. It is a fascinating cryptocurrency to follow in 2022 due to its innovative VR platform and reliable coin.
6. Solana (SOL)
A well-known cryptocurrency, Solana (SOL) is now ranked ninth among the most popular cryptocurrencies, behind industry heavyweights like Bitcoin and Ethereum. It has a market valuation of over $11.5 billion and an astounding 24-hour trading volume of over 800 million.
Several DeFi services may be developed using Solana's blockchain. Although slower than the other cryptocurrencies described here, it can execute transactions rapidly and offers its users the benefit of extremely cheap transaction costs.
If you're interested in Solana, you should also look at the variety of DeFi projects they sponsor, the beginner-friendly Rust modules they offer, and the financing rounds they participate in.
7. Shiba Inu (SHIB)
This is not Dogecoin, no. Shiba Inu was developed instead to completely replace Dogecoin. Shiba Inu is a meme coin similar to Dogecoin that is based on the well-known "Doge" internet meme. Shiba Inu, on the other hand, is a token created on the Ethereum network, unlike Dogecoin. With a market valuation of $6.7 billion and a 24-hour trading volume of over $300 million, this cryptocurrency has undoubtedly established itself in the market.
Shiba Inu has gained a lot of popularity as a result of the hoopla around its plan to displace Dogecoin. It even earned the moniker "Dogecoin killer" and gained a lot of devoted supporters utilizing this strategy.
There is no denying the extremely low value of a single Shiba Inu coin. But in order to make a large profit, speculators frequently purchase big quantities of this currency. The price of the cryptocurrency is now rising overall, albeit it constantly changes.
8. Tether (USDT)
The fact that Tether is a stablecoin that is linked to the value of the US dollar sets it apart from the other cryptocurrencies on our list. This is excellent for individuals who are interested in DeFi since it makes it far less sensitive to price drops and crashes. It is the first stablecoin in the world and the third-most used cryptocurrency at the moment.
Tether, on the other hand, isn't the sort of cryptocurrency where you buy low and sell high. It is not ideal for individuals hoping to earn large gains quickly because its pricing is intended to stay at one US dollar.
9. Avalanche (AVAX)
With a market valuation of more than $1.4 billion and a 24-hour trading volume of more than $121 million, Avalanche, or AVAX, has established a strong reputation for itself within the cryptocurrency sector. Avalanche's blockchain network and the services it provides customers are what make it noteworthy, though.
Subnets are used by the Avalanche network to improve scalability and speed up transactions. These subnets are sub-blockchains that are able to control the transactional load of a specific project without overwhelming the main chain. Because of its extremely cheap transaction and gas costs and ability to execute 4,500 transactions per second, Avalanche is a cryptocurrency that anybody can use.
10. The Sandbox (SAND)
The Sandbox is a gaming metaverse where users may make cryptocurrency by playing games. In other words, it enables crypto games that may be played to profit. SAND, the native money of the platform, is a part of the Ethereum blockchain.
Within The Sandbox, users may generate and sell NFT assets and develop original metaverse games. SAND is the currency that drives the ecosystem's economy, and it may be obtained through games and asset transactions.
The Crypto Market Is Full of Potential
Unpredictability is one of the most noticeable traits of the bitcoin market. However, this isn't always a terrible thing. The volatile nature of the cryptocurrency market and its potential to instantly turn investors into billionaires make it very fascinating. Although it is difficult to predict where every one coin will go next, it is still helpful to know which ones are the most promising and provide something unique.