The Most Successful Cryptocurrencies in 2022
They say money is fluid; you need to roll it out to make more! If we are to rely on this statement, then investing in cryptocurrency is surely a finer way of earning digital assets. The ultimate goal of trading in crypto is to make the most of the volatile digital prices. Hence, many online websites dealing in e-wallet transactions, such as GGbet encourage using crypto investment as the latest money-spinner.
However, investing in cryptocurrency can be tricky as there are way too many options available in the ever-changing digital scenario. So, here, we’ll point out some of the most successful cryptocurrencies in 2022. Read on.
The 5 Most Profitable Cryptocurrencies of 2022
The following 6 cryptocurrencies are the most profitable ones in 2022. So, if you are thinking of investing, then definitely check this out.
Talk about the most discussed cryptocurrencies of the year, and Bitcoin will lead ahead of many in the race. It is because Bitcoin has one of the highest daily trade volumes and most volatile price movements. The regular trade volume of Bitcoin has been consistently as high as $25 billion for the last 6 months.
The volatile price movement of Bitcoin has ranged between $17,700 and $32,250 in the last 6 months. Moreover, Bitcoin has been quite easy to access for crypto investors around the globe because of its wide listings on almost all crypto exchanges. Elaborate market analysis tools make it even easier to trade in Bitcoin.
Another prominent and quite successful cryptocurrency of recent times is Dogecoin. DOGE, which was branded and endorsed by Elon Mask himself, rose to prominence in early 2021 as a result of the crypto market rally. Since then, it has constantly been in the limelight of social media and mainstream news media.
As a result, Dogecoin has grown in popularity among crypto enthusiasts. However, trading in Dogecoins is a wise choice as the price action is variable based on the trader’s views. Besides that, DOGE has recorded high trade volume in the recent past and reached up to a staggering $500 million on a daily average. Hence, it is the best cryptocurrency for active investors.
Ethereum is yet another popular cryptocurrency that is almost equivalent to Bitcoin. Because of its hugely volatile price actions, Ethereum is a premium choice among active crypto investors around the globe. The regular trade volume of Ethereum has been above $20 billion in the last six months. It mainly operates through a decentralized computer network called the blockchain, which is responsible for tracking and managing the currency.
Ethereum allows developers to create decentralized applications and smart contracts. This allows the users to choose different types of transactions and eliminates the middleman. In January 2021, the currency was only worth $730.37, but in January 2022, the price went up to $3111.74. So, if you had invested $1000 in Ethereum in 2021, your money’s worth would be $4260.50.
- Terra (LUNA)
Terra is a stablecoin blockchain payment network that depends on maintaining a balance between two different cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of actual money. However, the Terra platform is powered and used by LUNA to generate new Terra stablecoins. Both Terra stablecoins and LUNA work with each other on the basis of supply and demand.
For instance, if the value of the stablecoins is increased above their currency’s value, users can burn their LUNA to create more terra stablecoins. But if the value falls under the base value, users can use their Terra stablecoins to generate more LUNA. As the usage of Terra stablecoins increases, the value of LUNA will increase too. LUNA has gained 14,200% to $92 from $0.64 on January 3, 2021 to March 3, 2022.
- Polkadot (DOT)
The 2016-founded Polkadot (DOT) blockchain interoperability protocol was developed to link various chains. Without compromising security, it enables the processing of transactions and exchange of data for parallel blockchains or parachains. Polkadot security allows users to develop their own custom blockchains.
Gavin Wood, the founder of Polkadot, was also one of the founding members of Ethereum. One of the fascinating features of DOT is that it has no limit when it comes to its total supply. In fact, a new token is always in circulation. The popularity of the Polkadot substantially increased when the price peaked in 2020 at $6.30. Then, it reached its all-time high in 2021 at $55.11.
A lot can change in the crypto fraternity. You have to be well aware of the volatile money trading business in order to make the most out of such digital investments. According to the ongoing trends of 2022, the above-mentioned ones are the top picks for the most successful cryptocurrencies in 2022.
If you are going to invest in cryptocurrency this year, then take a moment to read about them thoroughly before going ahead. Remember, your money is your asset. Happy Investing!