by Aratrika Dutta
February 5, 2022
With differing degrees of utility, adoption, and promise, the market of cryptocurrencies has managed to garner attention
Cryptocurrencies are trending worldwide. It seems like ages when only a select range of investors was keen on investing in crypto. In present times, there is hardly any person remaining who hasn’t thought about investing in cryptocurrency. With differing degrees of utility, adoption, and promise, the cryptocurrency market has managed to garner attention from every corner of the globe. The attention and popularity that the digital currencies enjoy have surely made investors decipher as to which are the best cryptocurrencies to invest in. On that note, here is the list of the top 10 cryptocurrencies gainers to buy and hold throughout 2022.
Avalanche, along with Solana, is another example of a crypto that has a clear purpose, as opposed to meme coins like Dogecoin, which have no purpose at all. Avalanche is one of the many projects seeking to “unseat Ethereum,” as one of the most widely used blockchain platforms, according to the cryptocurrency exchange Gemini. A US$220 million fund was just launched to fund the development of Avalanche, which boasts of much faster transactions than Ethereum (4,500 transactions per second versus Ethereum’s roughly 13 per second).
As the oldest cryptocurrency, Bitcoin is continuously keeping its place as the first cryptocurrency with the best growth potential in 2022. Financial institutes as well as other industries have started accepting payments in Bitcoin through crypto-wallets.
Ethereum has launched Ethereum 2.0 to be the fastest-growing cryptocurrency in the volatile cryptocurrency market. Ethereum 2.0 is here to solve the remaining problems and concerns of Ethereum to win against multiple competitors and attract crypto investors towards crypto wallets.
Binance Coin is maintaining its position as one of the fastest-growing cryptocurrencies in crypto wallets owing to its world-famous Binance Exchange platform. It helps to establish a competitive peer-to-peer cryptocurrency trading business since its launch in 2019. It is gaining popularity for its zero trading fees, multiple payment methods, and escrow service protection.
Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.
LUNA tokens are used for staking and mining stablecoins by burning, depending on the current rate of the cryptocurrency. Terra uses seigniorage which provides flexibility thanks to algorithms. Stablecoins in Terra are not backed by anything and are produced only when the equivalent amount of LUNA is burnt. This allows not only creating stablecoins, but also hedging assets. For example, if the LUNA rate grows by 50% against the dollar, then 1.5 times more TerraUSD coins will be issued. Likewise, if the LUNA rate drops by 25%, then you can redeem more coins for UST.
Fetch.ai is a decentralized machine learning platform for applications like asset trading, according to CoinBase. For example, one of Fetch.ai’s applications helps users of the crypto exchange Uniswap automate their trading. FET is an Ethereum-based token that powers Fetch.ai. It’s gained more than 1,500% in the last year. Fetch.AI is using its technology to back real-world applications, says Ahmed Shabana, managing partner for Parkpine Capital.
XRP is one of the shiniest tokens sitting at the top of the altcoin pyramid and has shown an increase of 377% all around the year. Even though it is one of the few tokens that has seen massive growth rates, investors have high hopes for this crypto’s future.
Cardano is an ‘Ouroboros’ proof-of-stake cryptocurrency that was created with a research-based approach by mathematicians, engineers, and cryptography experts. It is one of the top cryptocurrencies that aims to be the world’s financial operating system by establishing Defi products similar to ETH as well as providing solutions for chain interoperability, legal contract tracing, and voter fraud.
Solana is one of the cryptocurrencies with the best growth potential in 2022. Solana is known as one of the competitors of Ethereum with the capability of processing over 50,000 transactions per second. It is also known for offering smart contracts to crypto wallets.
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