Due to the hype of the cryptocurrency market over the past few years, many have entered or are considering entering this space. However, with the many developments in the market, the fact that there are too many options is also confusing for investors. However, many altcoin projects are likely to add little value to your investment portfolio even though you have options. This is because the market is currently in a bearish period called a bear market. However, there are some cryptocurrencies that still offer investment opportunities.
8 altcoins with potential in bear market
Because of these, we have compiled for you the 8 best altcoin projects to buy in the current drop. Each of the cryptocurrencies on this list has technically sound data. In addition, they are supported by a strong community. Finally, it has increased adoption that is likely to have a positive impact on its values. As Kriptokoin.com, we have compiled it for you.
1. ApeCoin (APE)
ApeCoin (APE) is an altcoin project linked to the world famous Bored Ape Yacht Club NFTs. If you’ve followed the crypto space in 2022, you know that APE has had a lot of hype this year. Cryptocurrency multiplied in value when it debuted on the market. Then it fell to a certain extent. So why might APE be a good option?
One of the biggest developments regarding ApeCoin is the launch of Otherside Metaverse. The great thing about Otherside Metaverse is that the lands are sold with APE. This means that ApeCoin has intrinsic value and as Metaverse adoption increases so will ApeCoin’s value. Also, due to its association with Bored-Ape NFTs, ApeCoin has taken its place as the largest Metaverse token today. It has the potential to dominate the fast-growing Web3 space, especially NFT games. Many ApeCoin price predictions expect APE to double in 2022.
2. Ethereum (ETH)
Ethereum is the second largest cryptocurrency by market cap. However, the features that caused us to add the altcoin project to our best list are not limited to this. First of all, ETH is the strongest decentralized application (Dapp) ecosystem in the crypto space. It has dominated the field since its launch as the first Dapps blockchain in 2015. Also, the Ethereum developer team is working hard to deal with the scalability issues that have plagued this blockchain for years. For the past two years, Ethereum has been in the process of transitioning to Proof-of-Stake and provides several benefits to Ether, including making ETH deflationary.
Analysts are bullish on Ethereum due to its dominance and improvement of fundamental metrics. Many Ethereum price predictions expect the ETH coin to be worth between $4500 and $5500 in 2022. The altcoin is currently trading below $3000 per unit price. Considering that Ethereum could double in 2022, these price levels could be a buying opportunity.
3. Binance Coin (BNB)
Binance Coin is the altcoin project used to pay fees on the popular cryptocurrency exchange Binance. Users on the exchange are encouraged to use BNB. This is because Binance offers discounts to users who choose to use BNB to pay fees. The exchange also has a blockchain ecosystem called Binance Smart Chain. For all these reasons, BNB is among the cryptocurrencies with the highest utility in the market.
In addition to all this, Binance burns millions of BNB every quarter. It is also expected to continue in the current decade. The aforementioned burns played the biggest role in Binance Coin’s rise from trading low in 2017 to $667 in 2021. Analysts predicting that BNB will exceed $1000 in 2022. They also expect the altcoin to rise much higher than this level in the coming years.
4. Left (LEFT)
Solana was the top cryptocurrency player of 2021. Accordingly, altcoin SOL has gained over 10,000% over the past year. However, Blockchain holds the title of the most scalable ecosystem in the field. The network can process 50,000 transactions per second, with a transaction cost of less than $0.01. For all these reasons, SOL is among the best cryptocurrencies to invest in the 2022 bear market.
The aforementioned features have resulted in a huge increase in the adoption of the altcoin project. Accordingly, Solana has one of the fastest growing ecosystems of DeFi and NFT projects. As network adoption increases, so will the price of the SOL token. Analysts also predict that Solana will grow further in 2022 and beyond. Many Solana price predictions expect SOL to increase by over 470% in 2022.
5. Dogecoin (DOGE)
Dogecoin easily stands out as one of the lowest value altcoins available for purchase today. This is because its community and adoption levels are increasing. These, however, did not overreact to the price. However, there are some strong indications that Dogecoin could emerge as one of the hottest meme coins to buy in 2022. From 2020 to mid-2021, Dogecoin increased by 12,000. This followed a series of tweets from Elon Musk aimed at elevating DOGE. Elon Musk bought Twitter this year and now runs it as a private company. Therefore, Dogecoin may rise again with the influence of Elon Musk.
Even before the Twitter deal was finalized, there were already signals of such a possibility. At the time, Musk suggested that Twitter accept DOGE as a payment. If the Tesla CEO follows and accepts Dogecoin as a payment method on Twitter, it will create massive hype. Thus, the probability that the altcoin project will come to a good point in 2022 is increasing. For these reasons, it’s no surprise that most Dogecoin price predictions are bullish.
6. Shiba Inu (SHIB)
Shiba Inu has become one of the hottest memecoins after rallying over 48,000,000% in 2021. However, the price has dropped considerably since then. Now, however, it is getting out of the hype created by DOGE and establishing its own identity. This increases its intrinsic value. For example; last year the team introduced ShibaSwap, a DEX for trading Shiba Inu and other cryptocurrencies.
However, the biggest move the Shiba Inu team has made this year has been to introduce the Shiba Inu Metaverse. There’s a lot of hype around the Metaverse right now. Therefore, there is no doubt that Shiba Inu could be among the top altcoin projects to succeed in 2022. Analysts are also quite optimistic about the SHIB price. Most price forecasts expect SHIB to double by the end of 2022.
7. Cardano (ADA)
Cardano is a Blockchain ecosystem. It is also one of the biggest Ethereum competitors in the market today, like Solana, Avalanche, and others. In fact, the network stands out from the competition with its security features. But one of the factors that makes it a hot altcoin to buy is the recent launch of smart contracts. Cardano smart contracts were introduced in October 2021. It has since seen healthy growth in Dapps in its ecosystem.
Thanks to its scalability and low costs relative to Ethereum, many analysts expect Cardano to grow in adoption in 2022. The increase in network adoption will undoubtedly be reflected in Cardano’s native token, ADA. No one can accurately predict the future. However, most ADA price predictions predict it will be one of the best altcoin projects to succeed in 2022.
8. Avalanche (AVAX)
Avalanche is one of the best altcoin projects possible to invest in today. The network has gained traction as a launchpad for a variety of Dapps, from Dapps to NFTs. It also serves as an important smart contracts platform. In fact, AVAX became popular as the top Ethereum competitor in 2020. This has to do with Avalanche’s core metrics like scalability and low costs. AVAX stands out with its very low costs and processing up to 4500 transactions per second. However, it is also known for the high network stability it offers.
So far, Avalanche has reacted positively to price as adoption has increased. In 2020, AVAX hit an all-time low of $2.79. By November 2021, the coin had risen to an all-time high of $146.22. Most price predictions expect AVAX to remain a top-performing altcoin for years to come.
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