Cryptocurrencies are the hottest assets for traders in 2021 and with the increasing numbers of investors in the industry, 2022 might be an even better year for digital currencies, says crypto enthusiasts.
Initial Cryptocurrency Offerings (ICOs) saw a huge failure in 2017 and 2018. Consequently, early adopters were scared away. But, with the surge and the persistence of other aspects of blockchain technology such as DeFi and NFTs, cryptos are regaining momentum and earning the trust of traders again.
As we look ahead to 2022, here are some cryptos that investors believe will surge in price.
Bitcoin is the most popular cryptocurrency and the largest by market value. Since its launch in 2009, Bitcoin saw a 774,000,000% price increase. It surged from $0.09 in 2009 to an all-time high of $68,000 as of November 10th, 2021. It is currently trading around the forty $45,000 mark after a huge market sell-off but the digital token is forecast to peak during 2022.
Bitcoin is more about peer-to-peer transactions. However, Ethereum is more of a blockchain technology that allows developers to build layers upon it. In other words, companies and platforms can build apps and layers, and even games on the blockchain network allowing for wider adoption and use of the technology. The digital token is the largest cryptocurrency by market value and is currently trading around $3,500. Ethereum accounts for 20% of the overall crypto market.
Solana is an alternative coin or altcoin for short. It recently fell 12% but with Solana establishing a new smart contract network that competes with Ethereum, it is forecast to reach all-time high records during 2022.
Similar to Etheruem, Polkadot allows developers to create smart contracts and applications and is gaining wider adoption from developers and users alike.