Bitcoin is the parent cryptocurrency with huge demand in the world of digital currencies. However, new investors often prefer to find coins with low prices and big profit margins. There are hundreds of cryptocurrency projects in the market with varying degrees of appeal. If you want to purchase cryptocurrencies other than bitcoin then here are the top 05 best cryptocurrencies for 2022 according to our analysis.
Cryptocurrencies are digital currencies. The nature of coins varies depending on the project they are associated with. Some coin projects solve real-life problems. While others are just a way to make money for the developers also known as rug pulls.
Here are some of the good projects that you should look out for in 2022.
1. Solana (SOL)
Solana or SOL is among is ranking fifth on the coin market cap. It had a meteoric rise in price this year to reach $259. Solana blockchain is highly functional and open source. It was launched by the Solana foundation in March 2020. It has a market cap of around
Solana allows the creation of Decentralized apps also known as DAPPS. It is in completion with the ethereum blockchain. In order to improve the scalability, Solana blockchain uses a proof-of-history (PoH) consensus coupled with Proof-of-Stake (PoS) consensus system.
Solana foundation is supporting some of the game-changing Defi projects. They are also meddling in the world of NFTs that can give the blockchain a beaming success in the coming year. If you are interested in a progressive crypto project then Solana is among the top 05 best cryptocurrencies for 2022.
2. Ethereum (ETH)
Ethereum has come a long way. With the supervision of geniuses like Vitalik Buterin, the Ethereum blockchain is improving and evolving at a rapid pace. Ethereum 2.0 is just around the corner.
ETH is second only to Bitcoin on Coin Market Cap. It reached its all-time high after the Ethereum Improvement Proposal (EIP) 1559 this year. EIP 1559 has turned ethereum into a deflationary asset. A portion of the Ethereum transaction fee is now burnt which reduces the circulating supply. According to academic research, this feature of Ethereum has made it a better store of value than Bitcoin.
ETH is also known as “Ultrasound Money” as compared to Bitcoin being the ‘Sound Money’. The proponents of the currency also say that Eth has the potential of flipping Bitcoin at some point. Therefore, I think that ETH is one of the currencies you should look out for investment in 2022.
3. Terra (LUNA)
Terra blockchain was founded in 2018 with the intention to power a global payment system with Stablecoins. The project launched its own cryptocurrency, LUNA, in 2019. The unique nature of the Terra blockchain protocol makes it a project interest for investors.
LUNA’s price made a splash with a price rally from $38 to $61 within weeks this year. While the price targets for the coin in 2022 are not clear, but its continued diversification looks good for success.
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Terra has secured the 12th spot on the coin market cap with a market cap of $22 Billion and a 24-hour trading volume of $7.22B. It is at the moment trading at $57. If you are looking for the top 05 best cryptocurrencies for investment then LUNA is one to be considered.
4. Decentraland (MANA)
Decentraland is a Metaverse project making headlines in 2021. On this platform, you can buy/sell virtual lands, arts, or other projects using cryptocurrencies. The interesting part is that you make money in the virtual world and then use it in the real world.
Decentraland platform was launched in 2017. It has its own crypto token called MANA. In the first 3 years after the launch, MANA was relatively unknown. However, it is now among the favorite tokens of crypto investors. MANA reached an all-time high of $5.9 on 25th November.
The metaverse buzz is not dying out anytime soon. Therefore, projects like Decentraland are good for consideration. You can buy MANA from all popular crypto exchanges. It currently has a daily trading volume of $628 Million with a market cap amounting to $5.78 billion.
5. Polkadot (DOT)
Polkadot blockchain provides a scalable solution for faster transactions. It is an open-source multichain protocol. You can transfer data, assets, and tokens on Polkdot’s parachains at the same time. The interoperability and decentralized nature of Polkadot have made it unique and scalable.
The blockchain has its own token known as DOT. Initially, the total supply of DOT tokens was limited to $10 Million. However, now it is raised to $1 Billion. With a total market cap of $25.94, Polkadot is currently at the 9th position among all cryptocurrencies on the Coin Market Cap.
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In November, DOT reached the all-time high value of $54. At the time of this writing, DOT is trading at $26. The constant growth and development success of the project makes it promising for 2022. That’s why it is on our list of the top 5 best cryptocurrencies for 2022.
The cryptocurrency market is expanding in a multitude of ways. The number of projects is increasing and with that the options of investments. The Crypto market is highly volatile. Any type of good/bad news can have a huge impact on the price of crypto tokens. This list is made in light of the current market situation. Do your own research when you decide to make an investment.
Staying safe and protecting your portfolio from losses is the best money management strategy in the crypto market. Use stop loss to minimize damage. Moreover, you can also consult a financial advisor for helping you in making the right decisions.
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The top 05 best cryptocurrencies are analyzed on the basis of the numbers (such as price, market cap, and trading volume) and project strengths. Watch out for their news and development in 2022 for getting in at the right time.