Crypto of 2022: What Cryptocurrencies Will Reach New Heights This Year?
By Space Coast Daily // January 25, 2022
It’s safe to say that 2021 was a big year for the crypto industry even as the world dealt with the Covid-19 Pandemic. With total capitalization reaching more than $3 trillion in November 2021, many crypto investors are wondering what the best cryptocurrencies to invest in this year are.
From Bitcoin, Dogecoin, Binance to Ethereum, it might be overwhelming to know which cryptocurrency to go with. The good news is that there are many trustworthy investment regulatory platforms such as Naga that are waiting to help you choose the right cryptocurrency for your financial need.
So, with no further ado, let us look at the cryptocurrencies that will reach new heights this year.
Having been in the crypto industry for over a decade, Bitcoin still maintained the number one position in the market cap ranking in 2021 despite being highly volatile. With a market cap of over $791 Billion, Bitcoin runs on a blockchain distributed across a network of thousands of computers making it secure and safe from fraudsters.
Making its mark in the crypto industry, Bitcoin has grown rapidly over the years. That is from buying Bitcoin for about $1 in February 2011 to over $41,000 as of 7th January 2022. Though up to now the true identity behind Bitcoin invention remains anonymous, the cryptocurrency has become a popular method of payment with businesses, banks, and even educational institutions.
Ethereum is the second-largest digital currency after Bitcoin in the market cap. Having experienced tremendous growth since it was conceived in 2013, Ethereum became a household name in 2021 when it reached over $4,800.
This shows that Ethereum has almost doubled its current market valuation enabling it to be a major competition to Bitcoin. Gunning for the top spot of the market cap ranking, Ethereum is meant to reach new heights in 2022.
Also known as DOGE, Dogecoin is one of the most lucrative cryptocurrencies to look for in 2022. Founded in 2013 by Bill Marker and Jackson Palmer, the cryptocurrency has grown immensely enabling it to reach the top 10 crypto assets by market cap in 2021.
Standing at $ 23.37 billion and having gained over 3100% in 2021, Dogecoin has accumulated a loyal fan base with big major companies like SpaceX, Dallas Maverick accepting it as a form of payment.
Another top cryptocurrency to look for, Solana definitely did not disappoint in 2021. Launched in March 2020, Solana’s price started at a low price of $0.77, only to soar in January 2021 by more than 13,300%.
Developed to help power decentralized finance (DeFi) users, decentralized apps (DApps), and smart contracts, Solana is known to be the fastest cryptocurrency on the block making it a big attraction to crypto investors.
Apart from that, Solana ranks at number 5 of the market capitalization thus making it a cryptocurrency to reckon with in the year 2022.
Polkadot was developed by Gavin Wood, a former Ethereum administrator, and other two co-founders Robert Habermeier and Peter Czaban. A unique cryptocurrency, Polkadot allows chains to work simultaneously. This simply means, unlike other cryptocurrencies, it allows direct swaps between investors.
Nicknamed “the Ethereum Killer”, Polkadot has enjoyed impressive growth since it was launched in 2020. This excellent performance of the Dot coin has brought in more investors thus making Polkadot a cryptocurrency to watch out for in 2022.
A brainchild of former Ethereum c0-founder Charles Hoskinson, Cardano did well in 2021 that in August it became the third-largest cryptocurrency by market cap.
Although it lost the crown in September 2021, it has kept its place in the top 10 with a market capitalization of over $44 billion in January 2022. Who’s to say it won’t reach the third position again in 2022.
There you go the best cryptocurrencies predicted to reach new heights in 2022. Yes, cryptocurrency investment can be risky and extremely volatile as the price keeps going down and up respectively. Nonetheless, that should not stop you from trading in the crypto market. All you need is to take the time to learn everything about cryptocurrencies before taking the next step on your financial journey.