Price volatility is a major part of cryptos that causes huge losses for investors
In the past couple of years, the crypto market has proved that it is one of the best-performing asset classes to invest in currently. Moreover, the emergence of the Covid-19 pandemic also encouraged investors to adopt digital currencies at a much faster rate than anticipated before. The year 2021 brought with it some astronomical gains, as well as other defining moments that proved its worth to aspiring and emerging investors. But the crypto market is not just about profits and revenues. The primary characteristic that defines a crypto market is its volatility. Major cryptocurrency investors like Bitcoin and Ethereum have suffered terrible losses due to the volatility of cryptocurrencies. In this article, we have listed 10 cryptos that have failed to showcase a breakthrough yet in 2022.
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Loopring is an Ethereum-based cryptocurrency that is an open protocol designed for the building of decentralised crypto exchanges. The crypto is facing a dive in value for the past several weeks. Loopring’s purported goal is to combine centralised order matching with decentralised on-blockchain order settlement into a hybridized product that will take the best aspects of both centralized and decentralized exchanges.
Internet Blockchain is the world’s first blockchain that runs at web speed with unbounded capability. It represents the third major blockchain innovation, alongside Bitcoin and Ethereum. Through this, crypto enables the complete reimagination of software, providing a revolutionary way to build tokenized internet services. But despite its major advantages, crypto is facing a fall in value from 2021.
Zilliqa is a public, permissionless blockchain that is designed to offer high speed throughout to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and the speed of employing sharding as a second layer scaling solution. Even though crypto is home to several decentralized applications, it has dived down deep due to investor preferences and market conditions.
Dogecoin, the largest memecoin on the internet, has fallen below the levels it was trading before the tweet made by Elon Musk where he announced that Tesla would accept payments for Tesla merchandise in DOGE. Dogecoin has received great support from Elon Musk previously and also from its growing community.
Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through its decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events, and payments methods. Even though LINK is one of the most popular cryptocurrencies, for the past couple of weeks, it has plunged down and has not broken through its records in January 2022.
Quant was developed in 2018 with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is one of the first cryptocurrencies that focuses on solving the problem of interoperability by creating the first blockchain operating system. However, the price of Quant was higher by 570% over a year ago, and since then, the crypto has failed to break its previous records, but still remains a potential player like all other cryptos.
Nem is an ecosystem of platforms that use blockchain and cryptography to provide solutions for businesses and individuals. Crypto works in a very similar way that Bitcoin works. These nodes are designed to contribute their time and computing resources and remain incorruptible through transaction fee rewards.
Revain is an online platform for Ethereum-based token reviews, designed to allow developers to receive constructive feedback about their projects. The crypto’s ultimate aim is to create a legitimate and genuine feedback structure for all global products and services.
Celcius is an all-in-one banking and financial services platform for crypto investors. It offers rewards by depositing cryptocurrency, along with services for loans and wallet-style payments. Users of the platform receive regular payouts and interests on their holdings.
EOS is a popular cryptocurrency in the market that allows developers to build decentralized applications. Mainly known due to its affordability, EOS is yet to show its full potential in 2022.
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