These Are The Top 9 Cryptocurrencies That Could Explode In 2022

Dren.H

2 years ago

Cryptocurrencies have become one of the best investments of the 21st century. Recently, it has aroused attention for investors because they see a leverage point in investing in various coins that are present in this market. On the other hand, this market is characterized by its volatility, so price predictions are not always easy and certain for cryptocurrencies. However, traders, speculators, and investors, who are the main stakeholders, make this crypto market grow at a fast speed and predict some of the top cryptocurrencies that might explode in 2022. Below is the list of these cryptocurrencies with great potential.

1. Bitcoin (BTC)

Bitcoin (BTC) Logo

We all heard about Bitcoin and its popularity during the last few years. It is the first and the most globally known cryptocurrency. Bitcoin is not governed by any government or third party, and it supports peer-to-peer transactions through decentralized protocols. Due to its liquidity, Bitcoin is a good choice of cryptocurrency to buy. It’s also in high demand, so it won’t be hard to sell if you want to.

In the upcoming years, it is expected that Bitcoin will reach even a higher mass adoption, and as the demand for Bitcoin increases, its price may rise as well.

El Salvador is the first country to make Bitcoin a legal tender, announcing the decision in June of 2021. Currently, Bitcoin is an internationally traded financial asset, with daily volumes exceeding tens of billions of dollars.

2. Ethereum (ETH)

The Ethereum blockchain technology is the second generation of blockchain technology. Ethereum is a platform that was built on smart contracts, and it enables applications to run autonomously without human involvement. The cryptocurrency of the Ethereum platform is called ‘Ether’, and this token is used for trades on cryptocurrency exchanges. Blockchain-based software platforms such as Ethereum are unique because their code cannot easily be altered or hacked. This makes this platform much more secure.

The way Ethereum works is through smart contracts. There is no central authority for smart contracts, but they are directly associated with the decentralized blockchain network. These lines of code form the agreement between buyer and seller. There are more than 5.3 million users holding this coin. It is considered one of the best opportunities for investing in Ethereum since its price is predicted to increase.

3. Cardano (ADA)

Cardano is a blockchain platform that was created through research and scientific methodology, which makes it more special. On the technical side, it is developed by the programming language called Haskell and is built on a consensus protocol called Ouroboros proof-of-stake. It enables Cardano to secure the network, validate transactions, and earn newly minted ADA.

How Does ADA Work?

Unlike Bitcoin, Cardano works through validators. These stakeholders own the majority of the ADA currency, and they have the responsibility to validate a transaction on the block. They do this by betting on the level of confidence that all transactions are valid. Following this, the Blockchain verifies the validator’s block. If the block is approved by the blockchain, the validator wins the bet and is rewarded in ADA.

In addition to being an open-source project, its core purpose is to provide an infrastructure for financial and social applications, which in turn could be inclusive, fair, and robust. Besides, another main goal is to give accessibility for secure financial services to those people who currently cannot have access to these kinds of services.

Furthermore, like any other cryptocurrency, ADA can be bought, traded, and used for transactions on the blockchain. To be able to make all the services on Cardano such as transactions, participate in governance and earn a share of fees, users should buy ADA.

There are a number of factors that affect the cryptocurrency market which include regulatory crackdowns and comments by high-profile individuals. According to the history of Cardano’s price movement, Cardano is considered a great investment.

4. Solana (SOL)

Solana is a new participant in the cryptocurrency market. Its goal is to make transactions faster than they currently are. So, in simple words, Solana is a programmable blockchain that seeks to facilitate high-speed transactions. To ensure all of the requirements are met, Solana uses smart contracts. Proof-of-history is the technical term for Solana’s network, and the token is used to pay transaction fees. Through deeper analysis, Solana is considered to be a direct competitor to the Ethereum network. The special features that define Solana so fast are :

Proof-of-History
Tower BFT
Gulf Stream
Turbine
Sealevel
Pipelining
Cloudbreak
Archivers

When these features are all combined and work together, it is possible to improve the speed of transactions. Proof-of-history contributes to the network making it more efficient and faster, and by having recorded history, it is easier for the system to keep track of the ordering of events. Each of the above characteristics plays an important role to make Solana capable of high-speed transactions.

5. AlgoVest (AVS)

The AlgoVest ecosystem provides one of the best trading systems in the market, with AI-based strategies and algorithms that make it stand out from the rest of the market. AlgoVest has a unique protection system for the AVS holders, which prevent sprice dumps through buyback strategies and keeps the price increasing.

Furthermore, AlgoVest excels at the passive income opportunities that it provides to its users. The latter can stake either AVS or USDC and have huge returns as a result. Moreover, through the burning mechanism that AlgoVest has, the token has deflationary properties. Because of that and the limited supply of 10 million AVS, the price of AVS may keep increasing as the demand increases.

As a DeFi-focused cryptocurrency, the AlgoVest community has been increasing at larger rates in the past few weeks.

Lastly, since the market cap of AlgoVest is still relatively low and at around $6.4 million, it means that there is plenty of room for the price of AVS to grow.

6. Cronos (CRO)

One of the top cryptocurrencies that are expected to have a boom in the upcoming year is CRO, which is a cryptocurrency from Crypto.com. It’s a platform that integrates Visa payments, so customers can purchase tokens easily. The goal of Crypto.com is to encourage cryptocurrency usage using a variety of payment methods, including Visa cards. They do not require any fees or other requirements, thus making it a good place to buy crypto.

There are 22 exchanges supporting CRO globally, with the Asian region having the largest market. CRO is also predicted to keep increasing in the longer run.

Currently, the CRO market cap is $10 billion, and the supply in circulation is 25.2 billion CRO.

7. Enjin Coin (ENJ)

Enjin is a platform that helps people to create and trade their NFTs. Similar to Axie, Decentraland, and Sandbox, Enjin is based on NFTs. What’s more, they allow users to use the same item in various games, or they can sell it on the market. This is dependent on the choice of the user. NFTs are unique.

Enjin platform is known as the largest online platform for gaming communities, with a record of 250,000 gaming communities registered. The Enjin coin is designed for the purpose of gaming and its usability for the cryptocurrency world. What makes the Enjin platform special is that it facilitates the process where the user now has ownership of the item, regardless of what occurs in the game. Contrary to the past, before the invention of NFTs, if a user bought an asset or item for a specific game and quit playing, then the item was lost. So, Enjin contributes to this process making it more efficient and beneficial for all users.

Enjin’s devotion to sustainability is another intriguing feature. It has already ratified the Crypto Climate Accord and intends to launch carbon-neutral NFTs by 2030.

8. Axie Infinity (AXS)

Axie Infinity plays an important role between the two worlds: gaming and cryptocurrency. Its goal is to make blockchain technology fun through gaming to the people who are excited to be part of this community. The core idea is to play and earn crypto on the Ethereum network.

To earn an AXS token, there are different ways that users can approach it. There is also another in-game like Smooth Love Potion (SLP). To earn these kinds of tokens, players need to breed, raise, and battle Axis in this Pokemon world, while investors who do show an interest in investing in such a game can buy these tokens on decentralized exchanges.

Axies are non-fungible tokens (NFTs) that can be bought and sold. To join the game, you need to buy three Axies. By market capitalization, Axis is one of the top crypto games, and one crucial thing if you want to buy this coin is to understand crypto gaming.

Some advantages of Axie Infinity are as below:

It is one of the top gaming cryptocurrencies in terms of market value, and its senior team has experience with blockchain and games.
It has a white paper with a clear plan and objectives.
Mark Cuban, a billionaire, and cryptocurrency enthusiast, invested in Axie’s most recent round of funding, which raised $7.5 million.

9. Avalanche (AVAX)

Another open-source, which is scalable, and interactive blockchain is called Avalanche (AVAX). It allows decentralized apps and smart contracts in the same way that Ethereum and Polkadot do, but at a faster rate, for a lower cost, and with less energy use. You can build your blockchain and Dapps on Avalanche that are faster and better than those built on Ethereum.

The coin of Avalanche is called Avalanche Coin (AVAX). It fulfills a variety of functions on the network, including network security, transaction fee payment, validator reward, platform governance, and peer-to-peer payment currency. Contrary to other coins, AVAX is burned in a variety of ways, including transaction fees, blockchain generation, and subnet formation. As a result of this feature, the total amount of AVAX is reduced, making it rarer over time, where 360 million of the total supply were released during the main net launch.

The way Avalanche works is through combining two consensus mechanisms:

Nakamoto consensus that uses proof of work (POW)
The classical consensus that uses proof of stake protocol (POS)

Some of the beneficial features of Avalanche are:

High speed of transaction
Advance interaction
Energy efficient
A low fee of the transaction

What makes Avalanche promising is that it does support Solidity and the ability to interact with Ethereum. This is a good point that contributes to the potential for the growth of Avalanche.

We could see all the above-mentioned coins reach new highs at relatively large rates in 2022.

Takeaways

Cryptocurrency is a very attractive field with a great potential for growth for investors.
The way Ethereum works is through smart contracts.
Cardano is a blockchain platform built on the Ouroboros proof-of-stake consensus protocol and developed using the Haskell programming language.
Solana is a programmable blockchain that seeks to facilitate high-speed transactions
Decentraland is a virtual world that includes land, spaces, artwork, bars, casinos, and also events like parties, exhibitions, poker games, etc.
CRO is a payment platform, in which they have integrated the Visa payment, making it easier for their users to purchase tokens.
Enjin is a platform that helps people to create and manage their NFTs.
Axie Infinity plays an important role between the two worlds: gaming and cryptocurrency.
Avalanche (AVAX) is another open-source, scalable, and interactive blockchain.