There is no doubt that the digital currency market will experience a major transformation this year. The number of global cryptocurrency wallets has more than tripled in the past year, and many believe that the virtual currency market is already worth as much as $200 billion. With so many new investors coming into the investment game, there are plenty of opportunities for those who are looking to make a buck. Here’s a cryptocurrency overview of some of the most potential digital assets in 2022.
Bitcoin
Bitcoin has done everything that it can to remain in its top spot, and it’s managed to do so with aplomb. The world’s leading cryptocurrency has seen tremendous growth in the past few years. The value of one bitcoin in June 2018 was $19,000, which is up nearly 1,000% over the same period a year earlier. If you want to buy a single bitcoin now, you will need to spend more than the US $8 million or buy a large stake in a cryptocurrency exchange. It is crucial to remember that although bitcoin is the most popular cryptocurrency, it is not the only one out there.
Ethereum
In 2022, Ethereum will be the smart contract platform that will explode due to the longevity of its blockchain technology and promising future. As of today, Ethereum is the largest smart contract platform. It also houses the world’s largest pool of emerging cryptocurrency technologies — from DeFi to NFTs, meme coins, and even dApp technologies.
Ripple (XRP)
Although Ripple is more of a banking technology than a financial one, it has wide appeal among both banks and money transfer organizations. The company behind Ripple has grown more than any other company in the blockchain ecosystem and now has more than 100 employees. Ripple has strong ties with banks and money transfer companies and is used to settle money transfers in real-time. This technology also allows people to buy or convert crypto on the Changelly platform. Ripple was one of the first blockchain platforms to gain wide adoption, with more than 100 financial institutions using its platform to settle cross-border payments.
Cardano (ADA)
Cardano is another blockchain-based digital currency that was once thought to be a competitor to Bitcoin. However, interest in Cardano appears to have grown further this year, with more people than ever before having an interest in selling and buying cryptocurrencies. Investors who bought Cardano in 2017 are likely to see an increase in their investment in the digital currency this year, says CNBC. This could lead to another year of strong investment returns for Cardano.
Solana (SOL)
Within just two years, Solana has gone from being a fledgling smart contract ecosystem to one of the top 10 cryptocurrencies, according to Time, with a market capitalization of $78 billion, an 18,000% ROI, and a blossoming blockchain network. Despite its tremendous growth, the blockchain network is also on the march, which is why Solana is one of the altcoins to watch and a perfect addition to the list of most potential cryptocurrencies of 2022.
Uniswap (UNI)
Uniswap is constantly upgrading its systems to respond to investor demands. Thus, it is currently developing the Uniswap 3, a multichain (available on both Ethereum and Binance Smart Chain), and will shortly be rolling out on Ethereum’s Optimus — a layer 2 of the scaling protocol hosted on Ethereum’s network. We believe that Uniswap will become increasingly popular as Ethereum eventually upgrades to the Ethereum 2.0 version. Its popularity and following are growing, which convinces us that its token prices will continue their upward march.
What will be the top cryptocurrency in 2022?
Many are speculating that the top cryptocurrency in 2022 will be another digital currency. Most analysts believe that the 2022 top cryptocurrency will be one that has a high market capitalization and is in use within financial institutions. The next best thing would be another Ethereum, which is expected to happen in 2020. At the moment, there are plenty of opportunities for investors to benefit from the growth of cryptocurrencies.
Bottom line
At the moment, some cryptocurrencies have a large amount of potential. While Bitcoin and Ethereum both have plenty of room to grow, they face stiff competition from newer cryptocurrencies such as Cardano, Ripple (XRP), SATs, Uniswap (UNI), and Solana. The number of digital assets to exchange for cryptocurrency continues to grow exponentially, and it’s easy to forget that many of them have only been around for a few years. There are plenty of cryptocurrencies that have the potential to succeed, but only a select few will rise to the top in 2022. If you’re looking for a short-term investment that could rise in value, these are great coins to pick.
Last Updated: August 11, 2022
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