The cryptocurrency market has been on the decline since November 2021 despite short-term recovery. During this period, there were strong trend changes that gave hope to the bulls again. Metaverse projects were one of the latest trends of the 2021 bull. Then, together with STEPN, we saw how powerful Web 3 coins and projects are.
Why are Web3 projects important to the cryptocurrency market?
Web3 or Web 3.0 is considered the next stage of the internet. While this technology was still in its infancy, elements such as DeFi, NFT, and play-to-win games attracted attention. Top executives of tech companies are migrating to Blockchain companies to create Web3. According to CoinGecko data, the biggest Web 3 coins by market cap are as follows.
- Polkadot (DOT)
- Chainlink (LINK)
- Filecoin (FIL)
- Helium (HNT)
- Theta Network (THETA)
This list goes back to STEPN and Audius. So, which Web 3 coin projects can I follow for the rest of the year? In the continuation of the article, let’s take a look at the Web 3 list of Cheeky Crypto, one of the popular cryptocurrency analysts.
The four Web 3 coins to follow in 2022
Graph (GRAPH) is at the top of the list. According to Coinmarketcap data, GRT is the 52nd largest cryptocurrency by market cap. In short, the Web 3 coin project is an indexing protocol used to query data on networks such as IPFS and Ethereum that power applications in the Web3 ecosystem. Grapf also allows developers to design a Blockchain-based “application programming interface” (API). The GRT price reached $2.88 in February last year. It is currently trading at 95% off the ATH price. Considering the project’s API feature that allows apps to talk to each other, it’s worth watching in 2022, according to the analyst.
In second place, let’s take a look at Theta Network (THETA), a Twitch-like streaming platform. Theta is a blockchain-based publishing platform. Although not popular yet, a large audience follows Theta’s phenomena. Meanwhile, the project received investment from giants such as Samsung, Binance and Google. At the same time, Tak announced that he had received a second U.S. patent at one date. THETA, which is in the second place on the list of Cheeky Crypto, is currently trading at $ 1.33.
Encrypted message protocol: Mask Metawork
Next Web 3 coin: Mask Metawork. The project aims to bridge Web 2 to Web 3. It also provides a protocol that allows its users to send encrypted messages via Twitter and Facebook. Given the power of social media, it’s clear why MASK token is on the list. Web 3 coin is trading at $1.69 at the time of writing.
The last Web 3 coin on the list is the Blockchain data platform Pocket Network. The project runs on a PoS consensus mechanism that offers scalability and data consistency for applications. Meanwhile, POKT is trading at a discount of 90% from the price of 3.10 ATH. Despite this decline, it recently announced its partnership with node provider Ankr. Currently, there are 44,000 nodes in the Pocket Network infrastructure. Additionally, it provides one of the most productive ecosystems for developers and applications. Due to increased adoption of the Pocket ecosystem, it could be followed closely in 2022, according to the analyst.
You can reach the Web 3 guide that we prepared as Kriptokoin.com here.
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