Cryptocurrencies are used for various applications globally and are becoming increasingly popular. In 2021, the leading cryptocurrencies such as Bitcoin and Ethereum experienced many highs and lows, reaching an all-time high price of more than $65,000 in October and $4,400 in November, respectively. Several other altcoins and stablecoins also achieved new records and increased their market capital.
But which are the best cryptocurrencies to invest in 2022? In this post, we bring to you four of the best cryptos that have shown signs of growth based on market capitalization this year. Keep reading to find out more about these digital coins.
Bitcoin was the first cryptocurrency to be made available to the public; therefore, it holds an advantage over other cryptos. In fact, it is the most widely used cryptocurrency globally and is starting to be used in a variety of industries. This includes the entertainment industry and online casino games such as new live casino games at Casumo. In 2022, it continued dominating the other digital assets with a present market capitalization of $728 billion as of February 2nd, according to CoinMarketCap.
This pioneering digital currency experienced plenty of volatile periods in 2021, reaching a low of $40,000 in September 2021 and an all-time high of $65,000 in October.
Still, there is an unwavering belief among investors and cryptoneurs in Bitcoin, making it a cryptocurrency to watch in 2022. Several major banking institutions such as JPMorgan and Deutsche bank have hailed it as an inflation hedge or digital gold.
Besides Bitcoin, Ethereum is another crypto that has withstood the test of time to retain its position as the second-best cryptocurrency in 2021. With a present market capitalization of more than $330 billion as of February 2nd, it looks set to keep its place and even improve its market cap.
Ethereum is currently migrating from Proof of Work (PoW) to Proof of Stake (PoS), a move that will enhance its scalability to give it more economic -sustainability in 2022. What makes ETH one of the most promising cryptos is its application in running blockchain-based apps such as non-fungible tokens (NFTs).
NFTs were greatly successful in 2021 and will keep expanding into 2022. This reality makes Ethereum quite an attractive crypto to purchase this year.
The main reason why Solana has made it to the list of the best cryptocurrencies to buy in 2022 is due to its extremely transaction speeds of 65,000 transactions per second (tps), smart contract functionalities, and DApps capabilities.
Solana belongs to a group of Ethereum killers, and it employs a Proof of History (PoH) and a hybrid consensus model of the Proof of Stake. Presently, SOL has a market capitalization of more than $35 billion, which is remarkable for a relatively new entrant to the crypto space.
Within two years, SOL’s value has increased by nearly 22,000% from when it was first introduced with a price of $0.77 to $109 as of February 2nd.
Currently, USDT is the biggest stablecoin with a market capitalization of $77 billion as of February 2nd, according to CoinMarketCap. The reason why you should buy Tether in 2022 is that it’s pegged to the US dollar the euro – which significantly reduces volatility.
That said, USDT is a popular crypto option for cryptoneurs and traders who’re interested in investing in cryptos but are hesitant to face volatility.
Final Thoughts
There are many cryptocurrencies in the market today, and finding the right one for you to buy can be a daunting task. These are four of the best cryptos you can buy in 2022 and enjoy reasonable returns. However, don’t be limited by this list – feel free to explore other genuine cryptos in the market such as Cardano (ADA), Binance Coin (BNB), Ripple (XRP), Dogecoin (DOGE), and more.
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