Axie Infinity (AXS) is currently leading that charge and could triple investors’ money in 2022. That’s hitting the send button, validation, and settlement faster than most people can walk to their fridge. And Stellar can handle up to 3,000 TPS, per developers, which blows most blockchain-based networks out of the water. From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrencies, making it overwhelming when you’re first getting started in the world of crypto. To help you get your bearings, these are the top 10 cryptocurrencies based on their market capitalization or the total value of all the coins currently in circulation. Now, as interest in crypto has exploded, we’re discovering that Ethereum is too slow, too.

BNB, the native token for the Binance exchange, is another promising cryptocurrency for 2022 on many investors’ watchlists. The asset has struggled for the past few months, although many of these struggles have been related to Binance itself. Regardless of whether ETH recovers today or not, it has the best long-term prospects of pretty much any coin in the cryptocurrency market. It’s awaiting its transition to a proof-of-stake consensus mechanism in either Q1 or Q2 of this year. This will increase its scalability considerably, while also reducing the high fees that helped its rivals gain market share in 2021. Over a decade ago, Satoshi Nakamoto created Bitcoin, the first-ever cryptocurrency and decentralized digital coin.

  • Moreover, TIKKA will be compatible with all standard crypto wallets, such as Coinbase, Binance, etc.
  • The thing is, many meme coins sputter out shortly after they moon in price.
  • Simon is a professional blockchain, cryptocurrency and tech journalist who writes in depth analysis about the latest developments in the cryptocurrency and blockchain space.
  • MCADE serves as Metacade’s native token, used to pay out rewards and all forms of value exchange that happen on the platform.

In 2021, nearly 25% of all VC funding rounds or 428 deals worth about $1.9 billion were concentrated in DeFi, he noted. By all indications, 2021 has been a wild year for cryptocurrencies, which have seen their total market value surge to $2.3 trillion from just under $800 billion at the start of the year. Cryptocurrency has grown tremendously from its earlier days, so extrapolating past price data to now is a tricky business. In many ways, Solana is already what Ethereum supporters hope it becomes with the planned upgrade. The key difference is that Solana uses a proof-of-history protocol that increases its scalability.

The program has already attracted established crypto projects like Aave and Curve, Sotiriou notes. Since the announcement of Avalanche Rush, the total value locked (TVL)—the cumulative value of assets staked on the avalanche protocol—has jumped from US$250 million to a whopping US$13 billion. Its native AVAX coin is used both as part of the avalanche consensus mechanism (a method of verifying transactions) and for paying network transaction fees. “Renewed impetus from the Federal Reserve to take away the punch bowl, and declining bond yields may point to a macroeconomic environment in 2022 that favors top cryptocurrencies bitcoin and ethereum,” he continued.

However, chasing greater potential profits comes with a greater risk of losing some or all of their capital. In contrast to traditional betting platforms that rely on betting markets and odds defined by a centralized bookmaker, Chancer allows users to bet on virtually any event they see fit to create. From casual bets among friends to more conventional bets on sports, political, and entertainment events, Chancer supports them all. And that’s why Polkadot looks like a fantastic cryptocurrency to buy in September 2023. The coin is poised for several types of long-term wins if only the global economy can get over the inflation flu. That should open the floodgates for Web3 progress and active development of Polkadot-powered decentralized finance and content management systems.

Why Are There So Many Cryptocurrencies?

However, black-hat hackers had already stolen over 800,000 tokens, leaving Polygon on the hook for about $1.4 million. The fraud case has dogged XRP, with several leading exchanges delisting the asset since December 2020. Despite that, XRP rode last year’s bull market to deliver a healthy 279% gain. Next is a possible plan between the Dogecoin Foundation and Ethereum co-founder Vitalik Buterin to bring staking to the asset. If this works, more investors are sure to pile on and purchase DOGE.

  • And yet, in spite of extreme periods of volatility, opportunity is still knocking for investors to make money — assuming they stick to digital currency projects that offer differentiation and competitive advantages.
  • As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers.
  • Its 30-day average, save for a blip yesterday, has been rising steadily above its 200-day.
  • Utility token AVAX has borne the brunt of the bear market and is currently trading at $79.21, down 0.22% in the last 24 hours.
  • As a “layer two” solution, it expands Ethereum into a multi-chain system, improving transaction and verification speed.

There are plenty of reasons why retail and institutional investors buy crypto. The common denominator between individuals and institutions is that cryptocurrencies offer much more potential to generate higher returns on investment compared to traditional savings and investment products. However, it must be mentioned that projects with anonymous founders and developers aren’t necessarily a bad thing. After all, the founders and teams behind some of the biggest crypto projects like Bitcoin and Monero are anonymous. Presale opportunities provide a fantastic opportunity for investors to gain early exposure to some of the best crypto to buy on offer. Presales or ICOs share a lot of characteristics with IPOs in the TradFi scene, offering participants an unparalleled advantage to invest at the very beginning of promising projects at the most favorable prices.

The next big thing in crypto isn’t what you think. Here’s an absolute gem that many investors are overlooking.

In fact, Bitcoin’s dominance over the asset class shrank considerably during the year. Of the total market capitalization of the collective crypto market, Bitcoin accounted for 70% on Jan. 1, 2021, and best days to trade forex by Dec. 31, that figure had dropped by 40%. Sure, Bitcoin did well … but its smaller share of the market means “altcoins” (other cryptocurrencies that aren’t Bitcoin) performed much, much better.

Risks of Investing In Ethereum

Cryptocurrencies are various forms of digital money that are usually based on blockchain technology. Blockchain technology allows most cryptocurrencies to exist as “trustless” forms of transactions. This means there is no centralized authority overseeing the transactions on a cryptocurrency’s blockchain. Somewhat later to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation.

Cryptocurrencies That Can Triple Your Money in 2022

However, things can change quickly and dramatically, as unforeseeable risks could emerge in the cryptosphere. As well, disruptive technologies, new trends and regulatory moves could have a significant impact on the fortunes of specific digital coins and the Ev stocks to watch cryptocurrency market in general. “Cosmos is a safer bet as it is one of the most adopted smart contracts platforms, second only to ethereum,” asserts Sotiriou, adding that there are currently 250 blockchains, apps and services in the cosmos ecosystem.

Looking at their 52-week highs, Bitcoin and Ethereum are available at an 18% and 25% discount, respectively. There’s no doubt that the market is still in a largely bearish mood despite the remarkable recovery Bitcoin and other crypto mainstays like Ethereum have made after the torrid crypto winter of 2022. Every entry on this list of the top crypto to buy in 2023 features use cases that strengthen each token’s staying power and relevancy over the long run.

The digital token has also been added to the crypto lending platform Nexo. The Etheeum-based protocol has since become the premier DEX and automated market maker (AMM) platform allowing investors to swap or exchange tokens easily and in a trustless manner. Near Protocol is a flourishing smart contract protocol and is out to address the pain-points blockchain users and developers streaming stocks alike experience. Launched as a direct rival to the Ethereum network, Near Protocol has since garnered much interest from the blockchain community globally. The asset is based on the Ethereum protocol and enables the creation, sharing, and monetisation of in-game assets. The protocol is out to revolutionise and redefine the gaming industry with blockchain technology.

If the crypto loses its value, you won’t receive anything after the fact. While you can invest in cryptocurrencies, they differ a great deal from traditional investments, like stocks. When you buy stock, you are buying a share of ownership of a company, which means you’re entitled to do things like vote on the direction of the company. If that company goes bankrupt, you also may receive some compensation once its creditors have been paid from its liquidated assets.

Best cryptocurrencies to buy in 2022

Solana seems likely to remain a top choice for developers who don’t want to wait for Ethereum to catch up. Furthermore, Axie is generating some cold, hard green with its game. Data from TokenTerminal.com shows that Axie Infinity has brought in $1.24 billion in protocol dApp revenue over the trailing-90-day period. Imagine you have U.S. dollars in your pocket and you want to send money to a friend or family member in the U.K. Going through traditional banking routes, today’s existing infrastructure could take a full week to validate and settle this transaction.

This transition will help Ethereum retain its place as the top blockchain if successful. After having spats with multiple regulators throughout last year, Binance became the poster child for unregulated crypto exchanges. The company has vowed to change this narrative in 2022, and it has not taken the wrong step so far. The market remains vibrant with strong fundamentals, and there’s a lot of hope that it will be able to break out of this bearish slump into the green zone. That said, here are some of the best cryptocurrencies to buy in 2022 to enjoy maximum gains. There are numerous reasons to think SAND will be one of 2022’s best-performing coins.

Solana (SOL)

While the crypto market is battling with the bears, here are 10 cheap cryptocurrency to invest for a bargain before the bull season kicks off. At the moment, the Avalanche platforms supports 4,500 TPS compared to Ethereum’s around 12 TPS. The Avalanche mainnet launched a little over 12 months ago and already has some top decentralized apps (dApps) running on the platform including Trader Joe (exchange), NFT Trade (marketplace) and Aave (DeFi).