Cryptocurrencies are on the rise. With new coins being introduced every day, it can be difficult to decide which one is best for you. There are so many new coins, but some have already emerged as the top 10 cryptocurrencies. If you’re looking for a good investment for 2022, here are the top ten cryptocurrencies that will likely lead the pack in the coming years.
With the cryptocurrency market constantly changing, it is hard to say which will be best for investment in 2022. There are many factors that come into play such as popularity, scarcity, and ease of use. Here is a list of the top 10 cryptocurrencies according to CoinMarketCap with some background on each one.
Crypto trading can be confusing if you’re new to the game, but with some research into its nuances, you’ll soon start developing an eye for these things.
Related Post: 20+ Free No Deposit Bitcoin Mining Sites
Crypto Market History
The world of cryptocurrency and blockchain technology has been through a lot. The first Bitcoin transaction happened back in 2009, and people at that time were not sure what to make of the idea. In the following years, as more cryptocurrencies were created and began being used, people started to take them more seriously. In 2017, Bitcoin reached a high point as its value skyrocketed up to nearly $20,000 per coin.
The Current State of Affairs
The current state of affairs is interesting. It has shaped the potential future of crypto in a few different ways. Long-term holders are battling to maintain their positions with the volatility while new investors are attracted to the market because of the gains they can see. The state of affairs also created an environment where new investors are able to buy into the market by investing in ICOs at discounted rates.
Top 10 Cryptocurrencies Best for 2022
The top 10 cryptocurrencies to help a new investor get started with investing are Bitcoin, Ethereum, Litecoin, Monero, Dash, Zcash, Ripple, Golem, IOTA, and NEM. These are the most popular cryptocurrencies that have been introduced for investors to use. Investing in cryptocurrency is a good way to make money because the price of these coins can fluctuate on an almost daily basis. The types of investments you choose will affect your risk level and your options for maximizing profits. Some of the Future profitable currencies are given below.
Filecoin is a decentralized, blockchain-based storage network. The team was created when Protocol Labs launched the Filecoin Initial Coin Offering in September 2017. The ICO raised US$255 million in Bitcoin or US$52 per coin. Filecoin reached its all-time high of US$237.24 on November 2nd, 2018, before dropping to about US$20 per coin on November 6th, 2018 after the project’s white paper was released publicly.
Binance Coin (BNB)
Binance is a cryptocurrency exchange platform founded in July 2017 by Changpeng Zhao. BNB is the native token of the platform, which currently trades on the exchange at $69,900.00. The coin reached its all-time high of $64,000 in April 2018 before following suit in May reaching $690.93, according to CoinMarketCap.
Enjin Coin (ENJ)
Enjin Coin (ENJ) is a cryptocurrency that offers a decentralized ecosystem of virtual goods. ENJ is a relatively new token, first going live on October 31 2017 at a price of $0.13 and by April had reached $4 — a truly astonishing 2021.
The company was founded in 2009 as Enjin Network – an online community for gamers that allows people to customize their virtual creations from dedicated forums, wikis, to chat rooms.
Cardano’s price jumped from $0.18 to $2.20 in a matter of days, going from an initial value to a high value. This rapid change is a direct result of the market expecting to see a future increase in the value of Cardano as well as an increased interest in cryptocurrency throughout 2018.
The cryptocurrency world is currently in a state of decline. Crypto prices have been plummeting since the beginning of the year, with many coins trading at half their peak value. One unfortunate example is Uniswap (UNI), which peaked at $44.97 in May before settling down. UNISWAP is an initiative to create a decentralized exchange protocol for trading ERC20 tokens on the Ethereum blockchain.
Polkadot is a blockchain and cryptocurrency which aims to enable inter-chain and cross-chain technologies and connectivity. Polkadot was the first implementation of the idea of a para chain. The ICO for Polkadot sold out in three hours, with tokens selling for $0.0274 per token (around one-third of what Ethereum – at the time – was selling for). The total supply is set at 1 billion DOTs, with 100 million to initially be distributed.
Polygon (MATIC) is a Polygonal shape-based gesture control system that can be used to control any application on a computer. It was created in order to help people with disabilities interact with devices more easily. MATIC wants to change the world by making it easier for everyone to use computers and other touch screen devices. The price of MATIC went from $0.018 in January 2021, up to $1.62 on December 31, 2021.
Ethereum is a cryptocurrency that hit highs of $4,297 in mid-May. It then spiraled down to $1,700. The fluctuations may be due to a hacking of one of Ethereum’s biggest exchanges.
Ethereum is a blockchain-based distributed computing platform. Ethereum allows the creation of smart contracts, which are applications that run as programmed without any possibility of downtime, censorship, fraud, or third-party interference. They can be customized to suit many different purposes, with some transactions taking place automatically without end-user intervention. Ethereum has its own internal currency (Ether), but it can also be exchanged for other cryptocurrencies like Bitcoin. The value of ETH increased from $735.
In the technical world of cryptocurrencies, there have been a few noteworthy changes in the past few weeks. One such event was when Ethereum saw outflows of $14 million while $12.5 million was withdrawn from Solana. In cryptocurrency, what this means is that people are either selling their coins or trading them for an alternative cryptocurrency. The recent dip in Ethereum has been pinned on structural problems with how it handles transactions and the amount of power necessary to maintain a network in a decentralized fashion.
Bitcoin refers to a form of electronic cash that is decentralized and relies on cryptographic algorithms. Bitcoin can be broken down into smaller units as well as used as a medium of exchange. The price of bitcoin varies, reaching $100k BTC in April, but dropping to $66k in October before surging back up to $64k in April. This is likely due to an intense period of volatility following the identification of a weakness in the system.
In conclusion, the only way to know which cryptocurrency is best for investment in 2022 is to research each cryptocurrency thoroughly. It is important to understand the business model, the people involved with the company, and what they are trying to do. Finally, it is vital that you see if the crypto’s market cap is something that interests you.
Researching which cryptocurrency will be best for investment in 2022 can be difficult because there are so many options.