Crypto Market is a hot topic around the globe. Many people are still unsure whether investing in cryptocurrency is a good financial choice in these uncertain times. While there is no definitive answer, it is certain that some coins will perform better than others as the industry recovers.
The growth of the crypto market continues to be evident day by day. Bitcoin, the most widely used cryptocurrency, has seen a 70% increase in its popularity over the past year. Already, the capitalization of crypto markets has surpassed $2.2 trillion. Some of the world’s most powerful investment funds actively invest in crypto assets. The cryptocurrency market can be volatile. Even cryptocurrencies that are successful may become shitcoins within a few weeks. Some crypto tokens and coins manage to remain on top.
Which Cryptocurrency is Set to Explode?
You might be curious about which cryptocurrency will give you the best return if you decide to buy it. While bitcoin is the most obvious option, it may not be the best in 2022. You might have a better chance of getting a large payoff if you choose a smaller coin than bitcoin that has not been pumped up by institutional investors like bitcoin.
Here are four main cryptocurrencies that might still have high ceilings in 2022.
1. Ethereum (ETH)
Ethereum, also known as ether is the second largest cryptocurrency in the world after bitcoin. Sometimes, it even surpasses bitcoin. Ethereum implemented a major upgrade last year that saw the supply of Ethereum drop to 121.8 million coins, as of August 2. This upgrade allows Ethereum to process more transactions per second, increasing its scalability as well as lowering transaction fees.
Ethereum is experiencing a severe slump. It has lost over 35% since the start of the year. This is roughly on par with major cryptocurrencies. Analysts believe that the low price of Ethereum makes it a great time to buy if you’re looking for the perfect moment to explore the cryptocurrency market. Current investors who purchased high-quality coins might find the coin appealing. They would also benefit from dollar cost averaging.
2. Bitcoin (BTC)
Bitcoin doesn’t require much introduction. Bitcoin is the most widely used cryptocurrency in the world and serves as an industry standard. It’s easy to see how Bitcoin has changed the way we view digital assets. BTC was worth $1 in February 2011, and by November 2021, it had surpassed $68000. The Bitcoin price dropped to $23,670 by mid-2022. This drop was a major headache for many but it can also offer great opportunities for those who are willing to take the chance.
Bitcoin is still experiencing a storm. Its current value does not mean that it cannot go lower. One of the reasons why Bitcoin is a promising cryptocurrency investment is its increased use. Even El Salvador and the Central African Republic have given Bitcoin legal tender status. Experts believe that the Bitcoin price will explode, surpass $100,000 by 2022, and then grow tenfold to break $1 million by the end.
Pro Tip: Use Kucoin (the most popular cryptocurrency exchange) to trade, buy, and sell cryptocurrencies. The platform provides basic trading options as well as margin, futures, and peer-to-peer trading (P2P). Kucoin is a more attractive alternative to other competitors because it charges very low trading fees.
3. Algorand (ALGO)
Algorand’s price has been rising since the second half of March. It shows great promise. This crypto asset supports a self-sustaining, decentralized blockchain network that is working to become one of the largest dApp (decentralized app) hubs in the globe. The bridge will bring Ethereum compatibility to Algorand’s blockchain. This will provide liquidity that is much needed.
Algorand appears to have a lot of partnerships in place for the future and is on the verge of the next ALGO price rise. Algorand will only be the next cryptocurrency to explode, but it is possible to invest in it and any other coins on this list.
4. Decentralized (MANA)
Decentraland, a virtual reality platform on Ethereum blockchain, uses the MANA token to make in-game payments. You can buy goods and services, visit other players and purchase land, and create and monetize your own content. MANA’s current price of $0.96 on Aug. 2 is a 60% increase over its 52-week low of $0.6018 and an 84% drop from its 52-week high of $5.90.
MANA is the second largest gaming cryptocurrency by market capitalization. It faces competition from ApeCoin and The Sandbox, but it also has some advantages that could help the token move forward. Blockee recently listed land parcels at $3,000 and land parcels are currently listed on Blockee starting at $3,000 each. Users can also convert the digital assets created in Decentraland to other cryptocurrencies, and retain ownership.