Investors are expecting the cryptocurrency market-dominating 2022 given the popularity of a new asset class. Thousands of cryptocurrencies are entering the market to attract the eyes of investors Here are the top 10 cryptocurrencies that could dominate market 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 could hit new highs in 2022.
Ethereum (ETH), is a decentralized software platform that enables smart contracts and decentralized applications (dApps) to be built and run without any downtime, fraud, control, or interference from a third party. The goal behind Ethereum is to create a decentralized suite of financial products that anyone in the world can freely access, regardless of nationality, ethnicity, or faith. Crypto investors are expecting Ethereum to take over Bitcoin in the future in the cryptocurrency market.
Binance Coin is the cryptocurrency issued by Binance exchange and trades with the BNB symbol. Binance coin initially ran on the Ethereum blockchain with ERC 20 standard but has since become the native coin of the Binance chain. Binance is compatible with any smart device and lets crypto investors start trading safely. It is one of the best cryptocurrencies expected to reach new highs in 2022.
Polkadot (DOT) is a unique PoS cryptocurrency aimed at delivering interoperability among other blockchains. Its protocol is designed to connect permissioned and permissionless blockchains, as well as oracles, to allow systems to work together under one roof. Polkadot’s core component is its relay chain that allows the interoperability of varying networks.
Solana is one of the top cryptocurrencies that could touch new highs in 2022 in the digital wallets of crypto investors. This cryptocurrency is known for effective, fast, and censorship-resistant blockchain for global adoption. It is expected to have a long-term increase in the cryptocurrency price in 2022 with a promising future. Solana has been a top performer in 2021, rising through the ranks of altcoins to become the fifth-most-valuable cryptocurrency in the world.
Cardano (ADA) is an “Ouroboros proof-of-stake” cryptocurrency that was created with a research-based approach by engineers, mathematicians, and cryptography experts. The project was co-founded by Charles Hoskinson, one of the five initial founding members of Ethereum. After having some disagreements with the direction that Ethereum was taking, he left and later helped to create Cardano.
Tether is a cryptocurrency that is hosted on the Ethereum blockchain with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. Tether is well-known for being a stable coin without providing that high volatility like the usual cryptocurrency market. It tethers the value to the price of the US dollar or the Euro and is one-to-one pegged to the dollar. Thus, crypto investors can buy this cryptocurrency today to gain profit without worrying about incurring a massive loss.
Investors who want to explore the crypto space without taking on excessive risk would prefer a stable cryptocurrency such as USD Coin. USDC is a great option for traditional investors looking for a low-beta investment that can generate returns better than CDs. This cryptocurrency does have immense growth potential and it could reach new highs in 2022.
Dogecoin seen by some as the original “meme coin,” caused a stir in 2021 as the price of the coin skyrocketed. The coin, which uses an image of the Shiba Inu as its avatar, is accepted as a form of payment by some major companies, including the Dallas Mavericks, Kronos, and—perhaps most notably—SpaceX, an American aerospace manufacturer owned by Elon Musk.
XRP allows financial institutions to transfer money with affordable fees and minimum delay, attracting many major banks from around the world. Even though XRP has remained on the sidelines, for the most part, its price value started surging around April 2021. XRP is one of the best cryptocurrencies expected to reach new highs in 2022.