Analysts list the top 10 altcoin projects to watch this year. The Metaverse and NFT market has recently come to the fore with important investment news. In this article, let’s list the best projects from across the market.
Top 10 altcoin projects to follow in 2022
Ethereum (ETH)
Ethereum is generally at the top of the list of the best altcoins to buy in 2022 and beyond. However, it has faced some harsh criticism throughout the year due to rising gas fees. However, it hosts the largest DeFi, meme, and metaverse projects on the market. For this reason, we will see several altcoin projects further down the Ethereum list being Ethereum-based.
Cryptocurrency investors are now looking for faster and more affordable networks. In this regard, the upcoming Ethereum 2.0 upgrade could help the leading altcoin project to last. As a result, Ethereum is also essential for accessing some of the world’s leading DeFi. This is why analysts say that Ethereum is important for 2022.
Sandbox
The other altcoin to buy in 2022 is Sandbox. Metaverse is one of the buzzwords of Blockchain and mainstream technology in the coming years. The Sandbox is one of the most interesting projects on the market. For those unaware, metaverse basically refers to an immersive 3D environment. Although these have existed for several years, they are expected to become increasingly important in the new future.
Sandbox is essentially a virtual reality world that users can build, interact with. In a way, it’s similar to mainstream games like Minecraft. But the possibilities in The Sandbox are more or less endless. Users are able to create marketplaces, develop their own games, and create in-game buildings and locations, and best of all, they won’t need advanced coding knowledge to do so. If the Metaverse concept is truly successful, it might be a smart move to buy SAND in 2022, according to analysts.
Filecoin (FIL)
Filecoin is another altcoin on the analysts’ list worth buying in 2022. Storage adoption isn’t surprising given the amount of business done online in 2022. Platforms like Amazon Web Service currently dominate the market. But Filecoin wants to provide a more efficient and cost-effective way of providing storage. Naturally, this makes the project quite worthwhile. If Web 3.0 includes a shift to more mainstream trust in Blockchain, Filecoin will make itself the platform for cloud storage.
Filecoin is essentially a decentralized storage that allows users to rent unused storage resources. Domain providers earn with the platform’s native token FIL. Realistically, demand for storage will only increase and consumers will naturally gravitate towards the cheapest solution. Therefore, according to the analyst, Filecoin is one of the best altcoin projects to buy in 2022.
aave
Aave is another of the best altcoin projects to buy this year. DeFi has been one of the biggest developments in the blockchain world in recent years. Also, the industry is currently valued at an estimated $78 billion and growing by the day. Aave is one of the best platforms in the space with around $10.4 billion locked into its protocol. Working on Polygon, Aave is a lending platform that many market analysts believe is poised to grow.
Competition in the DeFi industry is fierce. Aave, on the other hand, also benefits from being one of the simpler to use DeFi platforms. This puts the project at the forefront of mainstream adoption once again.
Shiba Inu (SHIB)
Admittedly, meme coins are not to every investor’s liking. But the Shiba Inu is establishing itself as a legit DeFi system. It follows the tradition of dog-themed branding and focuses on building an online community. Thanks to this, even though it was launched as a competitor to Dogecoin, the Shiba Inu was able to continually expand its offering. It now offers a much more complete ecosystem than before.
Shiba Inu now offers a highly respected staking program, including tokens LEASH and BONE that can unlock additional rewards. Then there is Shiba Swap, the decentralized exchange of the platform, as well as an artist incubator that promotes the use of Blockchain among developers and digital artists. Currently, Dogecoin is arguably the most popular meme currency. But the Shiba Inu’s more complete package seems to be turning the tide.
Binance Coin
Binance Coin is backed by the Binance exchange. Thus, BNB already has a pretty solid use case. Also, its main exchange has gained enough momentum to ensure its token is always one of the top runners.
But since the launch of Binance Smart Chain, the game has changed. One of the most advanced blockchains in the market, BSC offers faster transaction rates and lower fees than its main competitor, Ethereum. Naturally, a faster platform, already an established name in the cryptocurrency world, caught the attention of developers. Meanwhile, many leading DeFi projects are built on BSC. When it comes to altcoin projects, Binance Coin has one of the most solid use cases and the least downsides among other leading tokens.
wither
Another altcoin worth watching in 2022 is Solana (SOL). The project entered the market in 2017. However, it remained under development for several years. Meanwhile, it has stepped onto the market properly again in 2020. It was immediately touted as an “Ethereum Killer” thanks to its significantly faster transaction speeds and lower fees. Initially, the project did not receive much attention, despite its impressive performance statistics. However, over the past year Solana has seen meteoric price spikes that have made it a top cryptocurrency.
One of the things that makes Solana stand out, as we quoted as Kriptokoin.com, is the PoH consensus mechanism. This system reduces the amount of information validators have to work with by using timestamps on transactions, instead of each validator running through the entire block, as in traditional PoS consensus systems. Proof-of-History allows Solana to post at much higher speeds, potentially processing up to 65,000 transactions per second.
Decentraland (MANA)
Decentraland is one of the largest metaverse projects on the market. But Decentraland is more than just a SimCity type game. Users develop programs such as games, businesses and applications in the virtual environment. Digital artists can also publish their work on Decentraland. Maybe they can even exhibit it in a museum they built specifically for this purpose.
A single plot of land was traded last year for the equivalent of $2.4 million. Also, both Facebook and Microsoft dedicate significant metaverse resources to improving themselves. But Decentraland is already up and running and has almost unlimited potential.
XRP
Ripple has one of the best use cases of any other altcoin. Ripple, on the other hand, fills a need that is relevant right now. Known as the “bankers’ cryptocurrency,” Ripple aims to compete with SWIFT, the current standard for cross-border remittances.
SWIFT is known to be costly and time consuming. Other methods of international money transfers also require banks and financial institutions to hold holdings of many different values. Ripple uses the native cryptocurrency XRP as a medium of exchange. Thus, it offers much faster completion rates at a fraction of the cost. Considering that Ripple’s legal battle with the SEC may end in the very near future and this could have a positive impact on the value of XRP, analysts include XRP in this list as well.
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