Top 7 Emerging Cryptocurrencies to Rule the Market in 2022

 Emerging Cryptocurrencies

With zero government intervention, these emerging cryptocurrencies have become a standalone investment.

The total market capitalization of cryptocurrencies now stands at US$3 trillion. A remarkable amount of this growth was recorded in 2020 during the pandemic, which eventually found its way into 2021 as well. During the Covid-19 outbreak, people were petrified of an approaching economic crisis and diversified their investments in digital tokens. As a result, the market capitalization of major cryptocurrencies like Bitcoin and Ethereum grew dramatically. Once the cryptocurrency market started climbing up the hill, it became unstoppable. The underlying technology in digital tokens refers to the complex cryptography that enables the development and processing of digital currencies as well as their transactions through decentralized systems. With no government intervention, these emerging cryptocurrencies have also come under fire for their standalone nature. Throughout its development, the decentralized medium has extended futuristic features like NFTs, smart contracts, decentralized applications, metaverse, etc, to enhance its popularity. Today, even big companies like Apple, Google, Tesla, and Deutsche Bank are considering institutional investment plans. As we are about to enter 2022, IndustryWired has listed the top seven emerging cryptocurrencies that are expected to make a breakthrough in the coming year.

 

Bitcoin

Bitcoin is synonymous with the cryptocurrency market. Launched in 2009 after the unleashing of Bitcoin Whitepaper, BTC has emerged as the first and biggest cryptocurrency of all time. An anonymous person or a group of people called ‘Satoshi Nakamoto’ has created the digital token. Since its inception, everything is a  victory for Bitcoin. BTC’s price rallies in 2017 and 2020 convinced more new crypto investors to jump into the sphere. Bitcoin ETF’s debut in NYSE and the Taproot upgrade is anticipated to give an edge in the coming year.

 

Ethereum

Ethereum is the first Bitcoin alternative that hit the market. More than its digital token, Ethereum’s decentralized platform and its extended features including smart contracts, decentralized applications, etc are popular among investors. ETHER usually follows the same price trend as Bitcoin. Launched in 2015, Ethereum is currently the second-largest cryptocurrency by market capitalization. Recently, ETHER touched a record high of US$4,800.

 

Cardano

Cardano was founded by Charles Hoskinson, one of the founders of the Ethereum network. ADA coin was created after engineers, mathematicians, and cryptography experts engaged in a research-based approach towards the digital currency market. Owing to its excellent growth and extraordinary performance, Cardano is also hailed as the ‘Ethereum Killer’. The Cardano platform aims to be the world’s financial operating system by establishing DeFi products similar to Etheruem.

 

Solana

Solana is specially designed for smart contracts and the building of decentralized applications (dApps) like DeFi products. It has been a top performer in 2021, occupying the fifth position in the cryptocurrency list. SOL is another Ethereum challenger that has recorded over 13,000% growth in the past year. It runs on both Proof of Stake and Proof of History models that enable swift and secure processing of transactions.

 

Dogecoin

Dogecoin is the first memecoin that was created out of the Shiba Inu dog memes and jokes that went viral on the internet. Launched in 2013, DOGE gained mainstream adoption only in 2020 during the Bitcoin price rally. However, since then, its investors cum followers have drastically grown. Famous names like Elon Musk and Mark Cuban are also the biggest supporters of Dogecoin. Unlike many digital currencies limiting the number of coins in existence, Dogecoin has unlimited issuance.

 

Shiba Inu

Shiba Inu is a relatively new cryptocurrency that has gained ground at a rapid pace. SHIB is also a memecoin that maintained a low profile since its inception in 2020 and went mainstream in 2021. Recently, the digital token has registered a record high after a Change.org petition demanding the Robinhood platform to add SHIB to its portfolio gained over 300,000 signatures.

 

Safemoon

Safemoon is a new cryptocurrency that has recorded impressive growth in 2021. Launched in March 2021, this memecoin has emerged as a competitor to Dogecoin and Shiba Inu. One thing that makes it unique is its promise to ‘reward long-term investors’. The digital token is known for its extreme volatility, high transactions fee, and social media hype. Since every Safemoon transaction costs 10%, the company claims that investors won’t opt for a sell-off in most scenarios. This will eventually hold up the digital token’s price without letting it down.

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