Most Promising Altcoins to buy before 2022?
As we approach 2022, everyone focuses on what’s next in the crypto world. Blue-chip tokens like Bitcoin and Ether are already well-known to anybody with even a passing interest in “hodl.”
With Bitcoin lately selling around $60,000 and Ether nearing $4,000, some investors may be looking for less established cryptocurrencies that may give higher profits. Fortunately for them, there is no lack of altcoins—cryptocurrencies other than Bitcoin—that have the potential to become the next household brand.
Shiba Inu (SHIB)
This meme-coin phenomenon exploded into public awareness in 2021, riding on the popularity similar to Dogecoin to become the newest decentralized cryptocurrency, Shiba Inu. Shiba Inu, worth fractions of a penny, reached an all-time high in late October, nearing a market price of about $40 billion.
Besides, there’s more to Shiba Inu than meets the eye. To begin with, unlike Dogecoin, whose supply is constantly increasing, SHIB’s quantity has been decreasing over time. Since the project’s inception, more than half of the entire supply has been removed from circulation. While it is still a meme coin, and anything may happen between now and 2022, there is reason to believe it can maintain momentum.
SafeMoon launched in March 2021 and took off quickly, with prices rising within weeks of its inception. SafeMoon was created to encourage long-term investing while limiting short-term trading.
According to the project’s designers, SafeMoon was built for long-term investment. The 10% transaction fee was purposefully set high to prevent users from selling the currency and promote long-term HODLers. SafeMoon is regarded as one of the riskier bets in the cryptocurrency sector. Safe moon, like Shiba Inu, has no specific utility and gets its value exclusively from other investors purchasing in, which is why some have dubbed it a “shit coin.”
SafeMoon has a market capitalization of around US$1.9 billion since its introduction on March 8, 2021. In contrast, Bitcoin has a market capitalization of approximately US$1.1 trillion. Traders are required to pay a ten percent fee for each transaction.
Ripple is an open-source digital currency developed by Ripple Labs Inc., enabling payment providers, market makers, and institutions to access source liquidity. It is one of the finest cryptocurrencies to invest in since it allows financial institutions to be speedy and trustworthy sources of liquidity on demand.
The cryptocurrency’s token is pre-mined and trades under the ticker sign XRP. The firm and network are known as Ripple, and the cryptocurrency coin is known as XRP. The goal of XRP is to act as a form of interim settlement layer denomination, acting as an intermediary mechanism of trade between two currencies or networks.
Although the Ripple network is slightly more sophisticated than this example, it highlights the fundamentals of how the Ripple system operates.
Ripple addresses some of the shortcomings of traditional banks. On the Ripple network, transactions are settled in seconds (even though the platform handles millions of transactions frequently).
In contrast, banks may take days or weeks to process a wire transfer. The transaction price on Ripple is similarly low, with the minimum transaction cost for a typical transaction set at 0.00001 XRP compared to the enormous costs imposed by banks for making cross-border transfers.
Avalanche was created to assist financial markets. It comes with native support for quickly developing and trading digital smart assets with complicated custom rule sets that specify how they are managed and exchanged to maintain regulatory compliance.
One of the most popular lending protocols today, AAVE requires borrowers to provide collateral worth more than the loan smart contract value. Throughout the life of the loan, the smart contract securely stores collateral in escrow, eliminating the need for a trusted middleman.
AAVE can represent equities, bonds, debt, real estate, or anything else. They offer the most sophisticated environment to construct DeFi apps and the traditional financial industry, where the derivatives market alone is worth $800+ trillion. With all these points, AAVE is one of the best altcoins to buy before 2022.
Investors seeking the next great thing are flocking to Solana. The network is seen as a competitor to Ethereum. It is proving to be a worthy adversary to the monolithic project. Its entrance into NFTs and its significant profits have aided in demonstrating its usefulness, and, as more people get interested in blockchain technology, its scalability will become more desirable. SOL’s price was $0.77 when it was first introduced in 2020. Its value had risen to over $213.42 by November 30, 2021, a gain of more than 26,500 percent.
Because of its deep-pocketed VC funding, the Solana blockchain is sure to see a considerable amount of innovation regardless of the outcome. Sam Bankman Fried and the FTX team have embraced Solana. They indeed have the finances to assure the blockchain’s success.
Solana has a market capitalization of $65 billion and a daily transaction volume of more than $1 billion. In terms of daily volume, it is one of the top ten currencies. In November, it hit an all-time high of $260.06, and it is now trading at $215.54. Indeed SOL is one of the best altcoins to buy before 2022.
This list includes some of the most promising cryptocurrencies to watch in 2022. They’re also safe picks for inexperienced investors. Most of these cryptocurrencies have their ecosystem, which increases their prospects of increasing value shortly.
However, please keep in mind that investing in cryptocurrency entails several dangers. Take some time to study the potential drawbacks and benefits of cryptos if you’re contemplating diversifying your portfolio with them.