Crypto analyst lists the 7 best cryptocurrencies to watch in 2022. Popular for its cryptocurrency analytics, Altcoin Daily has listed seven altcoin projects with huge potential this year. Among them are Bitcoin and Ethereum, whose networks show the increasing scarcity of tokens, as well as demand. Details are on Kriptokoin.com.
7 altcoin projects
Bitcoin (BTC). As crypto analyst Lark Davis recently noted, Bitcoin reserves on exchanges are at their lowest level since October 2018, according to blockchain analytics firm Glassnode. This illustrates the growing demand and scarcity for the crypto asset, especially among long-term holders. In a tweet, Salvadoran President Nayib Bukele said: “The supply of Bitcoin will never be enough for the more than 50 million millionaires worldwide if they decide to hold one BTC each.
Ethereum (ETH). OpenSea, the leading Ethereum-based NFT marketplace, has set a massive record $5 billion in monthly sales. The high record of NFT transactions contributed to the burning of $1 billion in ETH tokens in the move towards deflation. Moreover, OpenSea has now replaced Uniswap as the most used product on Ethereum. American rapper Kanye West says he receives many requests for creating NFTs: another indication of the growing demand for digital collectibles. Former Disney CEO Bob Iger also envisions an NFT “boom.” These events indicate brighter days ahead for the NFT space and the Ethereum ecosystem in general.
Ziliqa and Solana are also on the list
Ziliqa (ZIL). The number of transactions on the Ziliqa blockchain is the third highest ever, even under current market conditions. Additionally, the total transaction fees this month are the highest ever. ZilHub, a supporter of the Ziliqa ecosystem, says these events show that the network is only getting better, regardless of the ZIL token price. Ziliqa is ranked 126th by crypto market cap with a ZIL token price of 0.04407056 at the time of writing.
Decentraland Altcoin Daily considers this 3D virtual world platform to have great potential because of the 2022 plans on its roadmap. This area includes desktop client for Windows, Linux and Mac. The VR client expects the second half of this year. Also in early prototyping the mobile app includes NFTs (Monkeys, punks, etc.).
AVAX. The Avalanche ecosystem has a similar token burning feature to Ethereum. So far, the network has destroyed more than 700,000 tokens – about 0.1 percent of its supply, with more users joining the network every day.
Rubic (RBC). Altcoin Daily touts Rubic as one of the best multi-chain swap protocols offering better rates, cheaper fees, and partnerships with leading DEXs. It allows users to trade over 15,000 assets on various blockchains including Ethereum, Polygon, and Avalanche. On February 10, Rubic will launch an incentivized referral program to increase the number of projects integrating the Rubic Widget. As January approaches, the network has already integrated the decentralized protocol Arbitrum.
Cardano (ADA). Reportedly, Cardano is seeing a significant increase in buying pressure, pointing to a possible uptrend. This thesis is supported by positive on-chain statistics from the network, such as transactions jumping 17 percent to 29.4 million in January.
Left (LEFT). As CNF recently reported, Solana has launched Solana Pay, a new peer-to-peer payment protocol as it plans to enter the $500 billion trade economy.
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