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The top 5 cryptocurrencies to keep your eye on in 2022

The top 5 cryptocurrencies to keep your eye on in 2022
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There are more than 8000 different cryptocurrencies available. (Source: Associated Press)

Cryptocurrencies have had an arduous journey in 2021, breaking many records and erasing millions from the market in a single day.

Roller coaster though, it seems clear that cryptocurrencies are here to stay.

So which companies are set to make it big in 2022?

Ethereum

It is not really a secret that Ethereum (ETH-USD) is in the lead. It has been the backbone of thousands of crypto projects, providing the nourishment they need to help them grow.

DeFi runs on the Ethereum blockchain. DeFi simply stands for “Decentralized Finance” – a form of blockchain-based finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to provide traditional financial instruments.

If you are considering investing in Ethereum, do your research on the many DeFi projects it supports.

The majority of these things are thriving and may help drive the demand for Ethereum as well.

A representation of the cryptocurrency Ethereum and the GameStop logo displayed on a screen in the background is shown in this illustration.  (Photo by Jakub Porzycki/NurPhoto via Getty Images)

Ethereum plays a large role in many DeFi projects. (Source: Getty

Many experts insist that Ethereum will overtake Bitcoin in the near future, and they are very confident in this technology.

Uniswap

According to CoinMarketCap, Uniswap (UNI3-USD) is the second largest decentralized exchange (DEX) project by market capitalization.

DeFi Pulse stated that it is the second largest DEX project when it comes to total locked value. And there is a reason for that.

Picture of Uniswap . coin

UniSwap is the second largest decentralized exchange. (Source: Associated Press)

Uniswap is also completely open source, which means that anyone can copy the code to create their own decentralized exchange.

Regular central exchanges are profit-driven and charge very high fees for listing new coins, so this alone is a noticeable difference.

At the time of writing, Uniswap is valued at around A$19.75. Its price started in 2021 at around 5 Australian dollars. Therefore, Uniswap increased in value by 247 percent over the beginning of the year.

Solana

Solana (CRYPTO: SOL) is one of the best performing cryptocurrencies this year and has become a hot topic among crypto enthusiasts.

We have grown over 15,000 percent year on year. Ranked among the “Top 10” cryptocurrencies by market capitalization, this coin has shocked many with its explosive growth.

Any asset that expands from less than $1 billion in market capitalization to over $70 billion in a few months should definitely be one to watch.

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Tether (Tether USD) is known as the world’s first “stable cryptocurrency” and has every chance of becoming one of the best digital currencies that are set to explode in 2022.

This cryptocurrency is an ideal investment option for those who are not willing to take many risks in the volatile cryptocurrency market.

So, if you do not have a lot of money to spend and you are afraid of the biggest risk, then Tether is the best option for you.

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Polkadot’s pricing started in 2021 at A$9.26. At the time of writing, Polkadot (DOT1-USD) is trading around A$36.70, thus the price is up 214 percent from the start of the year.

Thanks to the unique ability to integrate many different blockchains by creating a cryptocurrency network that connects them to the business simultaneously, Polkadot has grown exponentially.

Many experts expect Polkadot to rise to around A$66.01 by the end of 2022 and A$146.80 by the end of 2025.

Industry experts believe that the same trend is likely to continue in the coming years, making it one of the safest cryptocurrency investments.

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publisher team