10 Cryptocurrencies that Will Fight for Bitcoin’s Spot in 2022

These cryptocurrencies have shown impeccable growth and have a solid chance of overtaking Bitcoin.

A few years ago, cryptocurrencies seemed more like an academic concept rather than a reality. But all these ideas revolving around digital currencies changed when Bitcoin rose to record-highs in 2017. Since then, the crypto market is being recognized through Bitcoin. Since its inception in 2009, it has become one of the most trusted and widely accepted cryptocurrencies in the market. But it is safe to say that the crypto market is constantly evolving with fascinating developments taking place almost every other day. These rapid developments have led to the emergence of various cryptos that can replace Bitcoin and its legacy in the near future. Here, we have listed the best cryptos of 2022 that will fight for Bitcoin’s spot.

• Ethereum: Ethereum is one of the biggest competitors of Bitcoin and is the most probable to replace BTC in the future. It is a decentralized platform that enables smart contracts and decentralized applications to be built on its network and run without any downtime, fraud, control, or interference. The goal behind creating a platform like Ethereum is to build a suite for financial products that can be accessed by anyone.
• Cardano: Even though some investors complain about Cardano’s slow growth rate, others admire its rigorous step-by-step examination of the recent developments by its community members. The crypto was created with a research-based approach by engineers, mathematicians, and cryptography experts. Due to its rigorous peer-reviewed research, Cardano stands apart from the rest of its fellow competitors.
• Solana: Where Bitcoin can process about 7 transactions per second, Solana can process about 50,000 transactions per second. It is well-renowned for bringing one of the fastest cryptocurrencies in the market, with an unprecedented growth rate. SOL is a programmable blockchain that runs smart contracts like Ether but is much more scalable than Bitcoin and any other cryptocurrencies.
• Terra: Terra is a rising star in the crypto market and has shown an impeccable performance over the past couple of months. It is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. It combines the price stability and the wide adoption of fiat currencies with the censorship resistance of Bitcoin.
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• Binance Coin: Binance Coin is the token that is used within Binance’s blockchain-powered world that comprises a leading crypto exchange, i.e., Binance. Even though the Binance exchange faced several ups and downs in its existence, it is still one of the most widely used exchanges and the most popular crypto in the world.
• Avalanche: Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. It is not only exponentially fast but it also charges low fees and is environmentally sustainable. Even though AVAX is a newcomer among the list of the top cryptos, it surely has proved its potential over the past couple of months.
• Polkadot: Polkadot is a unique PoS cryptocurrency that aims to deliver interoperability among other blockchains. Its protocol is designed to connect permissioned and permissionless blockchain networks, as well as oracles that allow systems to work together under one roof.
• Shiba Inu: Recently, Shiba Inu launched a beta version of the decentralized autonomous organization that aims to give users more authority to decide on crypto projects. This has definitely spiked the interest of SHIB and other crypto enthusiasts. Shiba Inu creators are developing several advanced innovations to establish the crypto’s authenticity, which might give SHIB a fair chance to fight for Bitcoin’s spot.
• Axie Infinity: Axie Infinity is a blockchain-powered game that also provides NFT features. In the virtual world of crypto, gamers compete to win combats and find AXS crypto utility. Recently, Facebook’s metaverse move can act as a catalyst to promote a heightened interest in Axie Infinity and other blockchain-based gaming cryptos.
• Tether: Tether is one of the first stablecoins in the market that aim to peg their crypto value to a real-world currency standard, like the US dollar. Because most digital currencies especially Bitcoin have faced major volatilities in their course of existence, Tether may have a solid chance of fighting for Bitcoin’s spot due to reduced risks of volatility.

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