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Seven Altcoins Set to Erupt in 2022 as the Next Big Cryptocurrency

Few people could have predicted the Altcoins events of the last two years. Bitcoin experienced a significant increase in 2021. In November, it hit an all-time high (ATH) of $68,521 dollars. The total market capitalization of cryptocurrency is now $2.91 trillion.

Meanwhile, the DeFi industry, in particular, has gained traction with investors. Its market capitalization has increased by about $100 billion since the beginning of 2021, to $112 billion.

These and other indicators indicate that more than Bitcoin and Ethereum will be on the rise in the coming year. There are numerous cryptocurrency that have the potential to acquire traction.

In this post, we’ll look at seven intriguing projects and explain why they might be more appealing to investors in 2022.

Solana (SOL)

Solana is, in my opinion, one of the strongest altcoins in 2021 that can be projected to develop steadily in 2022. I previously recommended Solana as a gainer, and I still think it’s a good investment.

It uses a proof-of-history (PoH) consensus technique to increase the network’s efficiency. While traditional blockchain relies on the generation of blocks in a sequential order that must be confirmed across the network, PoH allows validators to compute the state of the network directly from the ledger. As a result, the Solana protocol may run on its own internal clock and handle over 50,000 transactions per second.

It isn’t technically a new coin, but its value has skyrocketed in recent months. This is owing in part to the presence of several well-known dApps in the sectors of DeFi, e-commerce, non-fungible tokens (NFTs), and gaming on the Solana network.

Solana has a market cap of $65 billion with average volumes of over $1 billion per 24 hours. It is in the top 10 cryptocurrency according to the daily volume. It reached an all time high of $260.06 earlier in November and is now trading at $215.54.

Waves (WAVES)

Waves is a platform that can be used to build dApps, smart contracts, and new tokens. It utilizes a proof-of-stake (PoS) consensus WavesNG and the network’s native token WAVES. The token is used as a reward and incentive for mining, payments, and voting. Since it’s an ERC-20 token, WAVES also makes Waves interoperable with the Ethereum network.

With a market cap of over $2.3 billion, WAVES token is strongly placed in the top-100 of cryptocurrency coins. Prominent projects are built on the platform including a cross-chain network Gravity, DeFi platform Neutrino, and crypto exchange Waves DEX.

The price of the token reached an all-time high of $41.33 in May 2021. Today it’s trading at around $21 which may mean the price might grow back to this year’s high levels later in 2022. Therefore, I believe it’s worth keeping an eye on.

Terra (LUNA)

Another notable crypto is LUNA, the native currency of the Terra protocol. This base-layer protocol uses stablecoins pegged to the popular fiat rates, for example, TerraUSD. LUNA acts as a reserved asset and helps to maintain the price of these stablecoins.

In October, Terra underwent a Columbus-5 upgrade which enabled Inter-Blockchain Communication (IBC) standard to let users easily transfer LUNA, TerraUSD, and other assets from Terra, making it interoperable with other networks.

Immediately after this update, the price of LUNA token reached a record high of $49.43. The next month, a current all time high followed at $54.77. Right now the token is trading at $43.15 and I expect it to have positive growth during the next year.

yearn.finance (YFI)

Yearn Finance is a group of protocols on the Ethereum network. The yearn.finance platform offers services such as showing interest rates APY, identifying the highest rates for lending, collecting investment strategies in DeFi, and trade bundling that saves costs and labor.

The native token of the platform is yearn.finance (YFI) also known as yEarn. It’s used as yUSDC, yUSDT, and yDAI for executing user transactions. With the help of YFI tokens, users can also earn lending and trading fees.

YFI has reached an all time high of $93,435 in May and is now trading at $32,312. If there are no unexpected bumps in the cryptocurrency markets, I believe YFI is going to be able to affirm its strong position among the investor community during the next year.

Feed Every Gorilla (FEG)

FEG token is a part of the DeFi market that has reached new levels of interest from investors in 2021. This token is hyper-deflationary with a 2% transaction tax that is distributed among token holders and an inaccessible burn wallet. This reduces the circulating supply of currency making it scarcer and more valuable.

Just launched in 2021, it’s still a cheap currency with the current price of $0.000000006. It is only listed on DEX exchanges with centralized exchange listings in the nearest plan, which might help the price and community grow.

Decentraland (MANA)

A few articles ago, I spoke about MANA’s recent solid growth and why it’s worth paying attention to. Decentraland is a 3D virtual reality platform built on the Ethereum network. It allows the creation of applications, games, and dynamic 3D scenes as well as making it possible for creators to monetize their content and applications.

The platform utilizes MANA and LAND tokens. MANA is an ERC-20 token that is used to acquire non-fungible ERC-721 LAND tokens. LAND tokens are basically free NFT slots that can be used to build a part of various districts in the Metaverse. In addition to LAND acquisition, MANA tokens can also be used to purchase avatars, wearables, and other digital products on the Decentraland exchange.

MANA token has reached an all-time high of $4.69 in October. Right now it’s trading at around $3 and seems positioned for a further rally as the Decentraland Metaverse gets bigger.

SuperFarm (SUPER)

SuperFarm is a DeFi protocol that supports the launching of new NFTs on the SuperFarm platform with no programming skills required. SuperFarm is an NFT marketplace that allows users to create their own NFTs, farm coins for NFTs, create ERC-20 tokens, and bind NFTs to videogame items.

SUPER is the utility token of SuperFarm. It’s used for governance, fees, staking, and NFT giveaways. Launched at the beginning of 2021, the token already has a market cap of over $700 million.

In May, SUPER token reached an all-time high of $4.73 and is now trading at $2.06. The future growth will depend on various factors: announcements, new technological solutions of the SuperFarm projects, and the crypto environment in general.

Things You Need to Know Before Buying Altcoins

As can be noticed from the entries we have picked, the DeFi and NFT markets are in the spotlight this year. There are several noteworthy projects in these areas expected to gain traction in 2022, so it’s worth following them. We can also expect several new projects to emerge on the scene. The main priority factors for investors right now are the real or virtual world application of cryptocurrency as well as the flexibility and security of blockchain protocols.

Most of the tokens we have discussed can be purchased on popular cryptocurrency exchanges such as Binance and Coinbase and on DEXs like Uniswap and Sushiswap. If you want to buy or swap them without the hassle of registering and verifying your account, ChangeNOW is a great way to buy one of these coins quickly and without large commissions.

It’s always crucial to do your own research before making any investment decision. While these up-and-coming coins have the potential for big returns, crypto investments can be unpredictable and come with high risks.

Source: FX Street

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About Skyhigh.Vip  

Skyhigh.Vip is a global institutional investor with a vast interest in Arts / Construction / Education / Business Services / E-Sports and various other growth industries.  

Several of its popular portfolios include GO Chambers which is the world’s largest business chamber listing provider with over 30,000 active chambers as its members.  

Flexgigzz is the Asia leading marketplace for freelancers service and together with SOHO Learning Hub which is an online platform for short courses and both of them aims to be the number one provider in Asia. For growth industries such as E-Sport Authority which is dedicated to providing independent media coverage to all E-Sport News related from around the world and for the art world, there is Atelier Auction which is an investable art auctioneer and being in the art scene for decades.

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