2021 was, predictably, a stormy year for some cryptocurrency traders. Bitcoin, as always, made big leads and then stumbled again. Ethereum saw a boom in the rise of NFTs (non-fungible tokens), but with this phase losing a little traction, it’s safe to say that there are going to be a few new contenders emerging in the race for the most valuable crypto of 2022.
Of course, in many ways, it’s much too early to confirm which currencies are likely to do the biggest business by the end of Q4. In the meantime, regular crypto traders will likely do best to look to refresh their strategies, seek lower trading fees from reputable brokers, and perhaps reconsider their risk profiles.
In any case, here are a handful of cryptocurrencies that may be worth keeping an eye on for the year to come.
Solana
Solana is something of a new player in the cryptocurrency game, having made its debut in 2019. However, SOL’s growth across 2021 has already set experienced tongues wagging as to what’s next for the cryptocurrency in the year to come. This native cryptocurrency is proving to be a real competitor for Ethereum, for example – and given that ETH had a relatively prosperous 2021, that’s all the more impressive.
This past year gone, SOL had a circulating market cap of over $40bn heading into the new year. However, even given the volatile nature of what we’re dealing with, there are experienced investor rumblings, suggesting that 2022 is the year to get behind this relative green horn.
Ethereum
Yes, despite the fact that some news in recent weeks suggests that ETH has hit a downturn, various sources insist that it will bounce back. Its recent wins may be rooted in the NFT boom of 2021, which, depending on who you ask, is either on the wane, or is merely refining itself. NFTs are still very much out in the ether – and there are some arguments that they are here to stay.
ETH is widely regarded as the second-biggest crypto asset on the planet. Therefore, it is unlikely to lose major steam that will derail it completely. As talk of the metaverse ramps up, it will be interesting to see where ETH and NFTs reside by Q4 2022.
Cardano
ADA, otherwise known as Cardano, is turning a few experienced heads thanks to its sheer confidence in its own game plan. This asset has been in play since at least 2017, making it a little older than SOL. However, it appears to be taking the ‘slow and steady’ approach. ADA is already inspiring traders due to its dedication to decentralization, and the fact that it’s committing to sustainability – great news for those investors keen to put their ethics in line with their wallets.
ADA made big moves in 2021 due to its smart contract launch, and with the latter stages of its long-term plan in sight, it makes sense that some traders are watching Cardano eagerly as 2022 pulls into view.
Polkadot
Polkadot may not be a crypto asset that many people are aware of in the mainstream right now, but that is certainly no block to its potential success. Its main appeal has grown over recent months due to its multi-blockchain data exchange, which automatically sets it apart from the bigger players in the markets. Polkadot revolves around relays and parachains, making it a brave – and, of course, slightly risky – choice for 2022 portfolios.
All things considered, however, Polkadot’s making waves even more so thanks to its links with ETH – it shares a co-founder. This asset option could certainly go either way, but for those traders invested in a crypto future that’s more flexible and more accessible, this seems to be a fairly sensible investment. Of course, you should never take our word for it alone.
Conclusion
2022 looks set to be a barnstorming year for many crypto asset innovations. With news that exchanges such as BitOasis are listing more new tokens than ever before, it will not be shocking to see a few new tokens entering the game. That said, it is hardly time to discount a few of the longer-standing players, either.
Crypto, by its very nature, is likely to continue in its volatility for some time, heading towards mid-decade and despite rising interests in stablecoin. In any case, it will be worth reviewing this time next year – will Polkadot change the game completely, for example?