Top Crypto Assets 2022
Cryptocurrencies are digital assets based on blockchain technology. Crypto assets are available across a global network of computers and have a permanent trail. This type of structure makes crypto assets decentralized, thus eliminating the need for any regulatory authority. With nearly 10,000 currencies and tokens in circulation, the influx of information can be overwhelming for investors new to the crypto market.
We have compiled a list of the top 5 crypto assets to look out for in 2022 to help you get started. These crypto assets have been classified based on their current market cap. The prices and market cap of all crypto assets mentioned here are subject to market variations.
Bitcoin (BTC)
Bitcoin is almost synonymous with the term “cryptocurrency.” Who created Bitcoin is still a mystery, but many believe that the Bitcoin whitepaper was released in 2008 by a Japanese citizen Satoshi Nakamoto. Bitcoin paved the future of digital assets. As it is a decentralized digital currency, it does not require any regulatory authority. The current price of BTC is over $38,000. The market cap of Bitcoin is over $730 billion. Many cryptocurrency experts and industry leaders have predicted Bitcoin price to reach its All-time High (ATH) by the end of 2022.
Ethereum (ETH)
Ethereum is another popular name in the crypto industry. It is a community-run blockchain project that powers decentralized applications and cryptocurrency Ether (ETH). Users can make transactions using Ethereum without any intermediary involved. It is also a favorite among blockchain developers for creating smart contracts. The value of Ethereum is on the rise. It is currently priced over $2,700 and its market cap is over $327 billion.
Tether (USDT)
Unlike the above two coins, Tether is a Stablecoin backed by fiat. In theory, the coin keeps its value equal to the fiat currencies. The value of the coin is less volatile to market fluctuations as compared to other cryptocurrencies. Crypto investors, interested in a comparatively less volatile cryptocurrency, favor Tether. Currently, the price of Tether is $1 and it has a market cap of over $78 billion.
Binance Coin (BNB)
Binance is one of the largest exchanges in the crypto sphere. You can use it for coin trading, making payments, and booking travel arrangements. You can also trade Binance Coin with other cryptocurrencies. Launched in 2017, Binance Coin has grown from $0.10 to around $377 in February 2022. Binance Coin has a market cap of over $63 billion.
U.S. Dollar Coin (USDC)
Backed by the US Dollar, the U.S. Dollar Coin is also a Stablecoin. The crypto asset aims to maintain its current value of 1 USD. Powered by Ethereum, you can use this Stablecoin for making transactions globally. The market cap of USDC is over $50 billion.
Cardano (ADA)
Cardano stands out in the crypto landscape for various reasons. It is a decentralized proof of stake blockchain platform. The platform aims to improve efficiency, scalability, and interoperability. It is also sustainable as it expedites transaction time, reducing energy usage. Cardano aims to provide an alternative to proof-of-work (PoW) networks like Ethereum.
It also shares similarities with Ethereum as it enables decentralized applications and smart contracts. The platform has its own token ADA, which has seen modest growth since 2017. Currently, the price of Cardano is approximately $0.99, with a market cap of over $35 billion.
Key Takeaways!
There are no clear-cut answers for picking a crypto asset for future investments. As a newbie, one should first define investment goals before investing in any cryptocurrency. It is important to consider whether the investment has a short-term goal, or if it is about achieving long-term benefits. Additionally, one should check the market trends and how they can impact the prospective investment. A careful approach backed by extensive research can help in reducing risks when investing in cryptocurrency.
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