Wider Adoption Of Cryptocurrency – What Will Be The Best Coin To Watch On In 2022?
2021 went into the records as the tremendous year in the archive of crypto since it managed to strike the mainstream. This record doesn’t focus only on some cryptos that made enormous yields, that is, Binance Coin yielding a monumental 1,300%, Bitcoin going up by 60%, and Ethereum rising by over 400%. This record also covers the broader adoption of cryptocurrency by big companies, institutional investors, and countries. 2021 showed EI Salvador accepting Bitcoin as their legal currency. Besides this, the Metaverse, NFT & Defi spaces recorded integration & innovation in 2021. Add to that record the cryptocurrency adoption by several highly known big names like Eminem and Elon Musk. Also, there are countless reasons why 2021 went into history as the most fruitful cryptocurrency year ever. But, what will be the best cryptocurrencies to watch in 2022? Worry no more! There are plenty of crypto coins that are worth watching this year. These include:
Bitcoin is the cryptocurrency coin that has been in this field for the longest. You can quickly see why the currency is the leading one, with a market cap and price that’s significantly higher than other cryptocurrency investment options. Several businesses have already accepted Bitcoin as one of their payment methods, making this coin an intelligent investment. For instance, Visa transacts with this cryptocurrency. Besides this, top-rated companies have started allowing Bitcoin transactions in their offerings. In November last year, Bitcoin hit its all-time high mark of $69000. With this record, this cryptocurrency outshined S&P 500 and gold for three consecutive years, even doing excellent than the gold price in 2020. Besides this, crypto space predictions show that Bitcoin will likely hit the $100000 mark by the middle of this year.
Next on this list is Bitcoin’s gold’s silver, Ethereum. It’s an open-source & decentralized blockchain featuring smart contract serviceability and Ether as its native coin. Ether takes the second position after Bitcoin because of its market cap compared to several other cryptocurrencies in the market. Most investors take Ethereum as a ‘smart’ investment choice, especially traders in the cryptocurrency niche who’re starting from scratch. Ethereum token’s strength correlates with the network scale, meaning ETH’s value is likely to increase as several other ‘dApps’ & projects are set in motion on the network. Even JP Morgan has started taking notice of Ethereum’s demand, hence why it recently published a report covering the crypto markets’ future outlook. This report includes Etherum’s upgrades and more.
Undeniably, the best coin in the crypto market, XRP, entered this market in 2012 but has won many hearts. Several banks use this payment protocol & payment system to process global transactions. It features speedy transactions that take around 4 seconds, solving Bitcoin’s initial problem. Furthermore, Ripple demands minimal energy and provides a cross-border payment system to top-rated banks & financial institutions. This cryptocurrency coin may have surged over $3 previously, but that value decreased to the present one of $0.84. However, since XRP solves the problem involving costly, inefficient & slow transactions currently occurring worldwide, it makes sense to conclude that this coin is a reliable investment choice for this year and the future. Besides this, Ripple has recorded vast applications in various storefronts & services, and this progress seems to continue growing going forward. As a result, XRP remains one of the crypto coins to watch in 2022. 2017-2018 made most individuals feel the climax of the cryptocurrency bubble. However, crypto coins have severally shown their capability to withstand new challenges, even after significant dips. Therefore, digital currencies may be a reliable investment this year and in the coming days. By the end of last year, it’s explicit that most fund managers are starting to realize huge profits in the crypto market. Besides this, central bank and government support measures indicate that the crypto market is a reliable investment option. However, note that the crypto market is a high-risk field. However, this risk comes with profits when everything gets cheerful in the time ahead. As a result, you only need to make intelligent decisions and enjoy your crypto investment.