Few people predicted the events of the past 2 years. In 2021, Bitcoin saw a massive increase. Its price reached an all-time high (ATH) of $68,521 in November. The crypto market capitalization now stands at $2.91 trillion. In the meantime, the DeFi market in particular has gained popularity among investors. It has grown by almost $100 billion since the start of 2021 and has reached a market capitalization of $112 billion.
These and other factors indicate that we can expect to see more than Bitcoin and Ethereum be up next year. There are many altcoins that have promising chances of gaining momentum. As a PR manager at a major crypto processing and exchange platform, I can share my perspective on what is happening in the crypto industry. In this article, I’ll review seven promising projects and explain why investors might be more likely to take an interest in them in 2022. Please don’t take my personal opinion as any kind of financial advice.
In my opinion, one of the strongest altcoins in 2021 that is expected to see steady growth in 2022 is Solana. Previously, I mentioned Solana among the winners, and I remain convinced that it is a promising asset.
It is built on a Proof of History (PoH) consensus mechanism which allows the network to be more efficient. While the standard blockchain relies on sequential block production that requires confirmation across the network, PoH allows validators to calculate the state of the network from the ledger itself. Thus, the Solana protocol can depend on its own internal clock and support a throughput of more than 50,000 transactions per second.
It’s not exactly a new coin, but it has seen an astronomical increase over the past few months. This is in part due to several prominent dApps operating on the Solana network in the areas of DeFi, e-commerce, non-fungible tokens (NFTs), and gaming.
Solana has a market capitalization of $65 billion with average volumes of over $1 billion per 24 hours. It is in the top 10 currencies by daily volume. It hit an all-time high of $260.06 earlier in November and is now trading at $215.54.
Waves is a platform that can be used to create dApps, smart contracts, and new tokens. It uses a WavesNG proof-of-stake (PoS) consensus and the network’s native WAVES token. The token is used as a reward and incentive for mining, payments, and voting. Since it is an ERC-20 token, WAVES also makes Waves interoperable with the Ethereum network.
With a market capitalization of over $2.3 billion, the WAVES token is placed strongly in the top 100 cryptocurrencies. Significant projects are being 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 is trading at around $21, which may mean that the price could return to this year’s highs later in 2022. Therefore, I think it’s worth keeping an eye out for.
Another notable crypto is LUNA, the native currency of the Terra protocol. This base layer protocol uses stablecoins pegged to popular fiat rates, for example, TerraUSD. LUNA acts as a reserved asset and helps maintain the price of these stablecoins.
In October, Terra underwent a Columbus-5 upgrade that enabled the Inter-Blockchain Communication (IBC) standard to allow users to easily transfer LUNA, TerraUSD, and other Terra assets, making it interoperable with other Terra assets. other networks.
Immediately after this update, the price of the LUNA token hit an all-time high of $49.43. The following month, an all-time high followed at $54.77. Currently, the token is trading at $43.15 and I expect it to see positive growth over the next year.
Yearn Finance is a group of protocols on the Ethereum network. The yearn.finance platform offers services such as displaying APY interest rates, identifying top lending rates, collecting investment strategies in DeFi, and aggregating exchanges that allows you to save cost and labor.
The native token of the platform is yearn.finance (YFI) also known as yEarn. It is used like yUSDC, yUSDT and yDAI to execute user transactions. With the help of YFI tokens, users can also earn lending and trading fees.
YFI hit 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 will be able to assert its strong position among the investment community over the next year.
Feed Every Gorilla (FEG)
The FEG token is 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 fee that is split between token holders and a portfolio of inaccessible engraving. This reduces the supply of money in circulation, making it rarer and more valuable.
Just launched in 2021, it is still a cheap coin with the current price of $0.000000006. It is only listed on DEX exchanges with centralized exchange listings in the closest plan, which could help the price and the community grow.
A few posts ago, I talked 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 enables the creation of dynamic 3D apps, games and scenes as well as the ability for creators to monetize their content and apps.
The platform uses MANA and LAND tokens. MANA is an ERC-20 token used to acquire non-fungible LAND ERC-721 tokens. LAND Tokens are basically free NFT slots that can be used to build part of various districts in the metaverse. In addition to acquiring LAND, MANA tokens can also be used to purchase avatars, clothing, and other digital goods on the Decentraland exchange.
The MANA token hit an all-time high of $4.69 in October. Right now, it’s trading around $3 and looks positioned for a fresh rally as the Decentraland Metaverse expands.
SuperFarm is a DeFi protocol that supports launching new NFTs on the SuperFarm platform with no programming skills required. SuperFarm is an NFT marketplace that allows users to create their own NFTs, create coins for NFTs, create ERC-20 tokens, and link NFTs to video game items.
SUPER is the utility token of SuperFarm. It is used for governance, fees, staking, and NFT giveaways. Launched in early 2021, the token already has a market capitalization of over $700 million.
In May, the SUPER token hit an all-time high of $4.73 and is now trading at $2.06. Future growth will depend on various factors: announcements, new technology solutions from SuperFarm projects, and the crypto environment in general.
What you need to know before buying altcoins
As the entries we have selected show, the DeFi and NFT markets are in the spotlight this year. There are several noteworthy projects in these areas that are expected to gain momentum in 2022, so it’s worth keeping track of them. We can also expect several new projects to see the light of day. The main priority factors for investors at the moment are the real or virtual world application of cryptocurrencies as well as the flexibility and security of blockchain protocols.
Most of the tokens we have discussed can be purchased from popular sites crypto exchanges like Binance and Coinbase and on DEXs like Uniswap and Sushiswap. If you want to buy or trade them without having to sign up and verify your account, ChangeNOW is a great way to buy any of these coins quickly and without big commissions.
It is always crucial to do your own research before making an investment decision. Although these promising coins have the potential to generate big returns, crypto investments can be unpredictable and involve high risks.