3 Altcoins That I am Keeping My Eyes On In 2022 — Issue #8
Before we talk about the altcoins, I want to talk about Bitcoin first. I am by no means saying that BTC is a bad investment or will not see further gains soon, but it has been so unimpressive lately compared to its recent past that many are beginning to doubt. Well if you are one of those doubters, I still think you should have some BTC in your portfolio. However, it might be wise to reallocate some of that capital into other coins, especially since Bitcoin has already has its major bull run in 2021.
While many are bearish on altcoins, I maintain that it is a great time to accumulate promising projects at discounted prices. From what I can see, there are 3 coins in particular that have good potential for success both short and long term. My top three favorite alts are: Solana ($SOL), Ethereum ($ETH), and Cardano($ADA).
Here are 3 altcoins that I am keeping my eye on in 2022:
Solana is a high-performance blockchain with the ability to conduct 710 thousand transactions per second, which has no rivals amongst existing platforms. The amount of adoption that Solana is getting is amazing, especially in the NFT space. It’s developers are creating a high-performance blockchain that will be able to handle decentralized applications that require rapid transactions at very little cost. This means it will be ideal for any form of online gaming, and NFTs, something which is already being looked into by its team. Solana was listed on Binance exchange in March 2018 making it an easy way to purchase the token. You can also purchase it on FTX and Kucoin.
Ethereum has become the go-to platform for many blockchain projects and is quite popular in the cryptocurrency world. It will be no surprise to me if we see it surge again to $5000 + before 2022 ends. I believe that much of its potential depends on how well the transition from PoW to PoS goes, which may not happen until the end of 2022. Nevertheless, many new gaming and metaverse projects are being built on Ethereum. Ethereum is definitely here to stay.
Cardano is my third pick for an altcoin to pay attention to in 2022. To begin with, in the cryptocurrency world, there are many people who will warn you away from investing in Cardano. The main complaint that I have heard is that it has an excessively high market cap at US$42 billion when its product isn’t even being used by consumers yet. However, once you understand just how much work has gone into the project, you can understand why this is a strong contender.
Cardano operates like many other cryptocurrencies; it runs on its own blockchain and uses proof-of-stake mining. But what sets it apart is its deep bench of highly qualified developers working to make it work in the real world. Its founder, Charles Hoskinson, was one of the founders of Ethereum and also co-founded Bitshares. Its chief technology officer, Jeremy Wood, was previously the CEO at Ethereum Classic (ETC). More importantly, its development team consists of about 20 people (most blockchain projects have just a handful), and it has used its funds very wisely.
So, why do I think Cardano will be a strong contender for a top cryptocurrency in 2022? Because what they are trying to accomplish is groundbreaking and you can tell that their developer team really understands cryptography and decentralized systems. NFTs and the metaverse will be huge on Cardano because of their fast transaction speeds and low transaction costs.
These are the 3 altcoins that I am paying close attention to in 2022. Thank you for reading and happy investing!