2021 has been quite profitable for cryptocurrency investors, with a rise in the value of the leading cryptocurrency, Bitcoin. There has been a rise in its value by more than five times since the beginning of the year.
Several companies – across the world are increasingly accepting cryptocurrencies as modes of payment. Increasing investments in these currencies have also led to an increase in their demand. But which cryptocurrencies could turn out to be the leaders in the crypto market in 2022?
Top Cryptocurrencies Of 2021
Before determining which cryptocurrencies will rule the market in 2022, we need to take a look at the cryptocurrencies that have grown remarkably in 2021. Here is a list of the top cryptocurrencies of 2021:
- Axie Infinity (AXS)
- Telcoin (TEL)
- Fantom (FTM)
- Solana (SOL)
- Polygon (MATIC)
- Terra (LUNA)
- Dogecoin (DOGE)
- PancakeSwap (CAKE)
- Dent (DENT)
- Celer Network (CELR)
Cryptocurrencies That Could Become The Top Performers In 2022
Bitcoin is the first ever cryptocurrency, created in 2009 and is accepted across most trading platforms and crypto exchanges. Although Bitcoin’s value has decreased many times before, it has managed to rise again. Investing in Bitcoin is no longer as profitable as it used to be. But it is still the most reliable of all the cryptocurrencies, and it will retain its popularity even in 2022.
Ethereum has shown the world that there’s more to blockchain than just cryptocurrencies. It is a platform used to develop and run smart contracts and decentralized applications. It is developing continuously and isn’t showing any signs of weakness despite the emergence of several new competitors. Ethereum shot up by more than 800% last year and is playing a major role in expanding decentralized finance (DeFi).
Solana (SOL) is causing a revolution in consensus mechanisms with its proof of history concept, which means that, rather than mining or staking on the platform for validating transactions, all transactions are authenticated by a time stamp on the blockchain. Solana has become Ethereum’s main competitor, as it provides fast speeds despite being a Layer 1 platform.
Cardano (ADA) is one of the biggest blockchain projects in the world. It is sometimes called the Green Blockchain because its energy use reports and proof of stake protocol are impressive. Last month, Cardano announced that it would receive an ecosystem boost from its recent $100 million investment in NFTs, decentralized finance, and blockchain education.
Polkadot aims to bring disparate blockchains together and eventually serve as a tool for making Web 3.0. It has several advantages, which have caused the price of its token to increase. Polkadot is faster and more scalable than what Ethereum has to offer now.
Aave (AAVE) was created in 2017 and was initially called ETHLend, and is one of the original DeFi platforms on the market. This decentralized liquidity platform lets users borrow assets and earn rewards on deposits. It brings lenders and borrowers together in a decentralized space.
Synthetix (SNX) allows cryptocurrency to be traded for stocks, currencies, commodities, and other assets. Its most unique feature lets users mint their synthetic assets, known as “synths.”