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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Bitcoin fell below US$29,000 for the first time since July 2021. The entire volume of the crypto market fell, wiping away approximately more than US$200 billion from the entire market within a period of a single day. Since the price of BTC fell, the entire crypto market crashed, taking down the values of some of the largest altcoins in the market. And after Terra's massive, unexpected downfall, investors have kind of lost hopes and are refusing to wait for the market to stabilize again. They are fleeing from the market at a time when even the stock markets have plummeted due to the current deteriorating economic downturns. Investors are also afraid of their existing investments, and how the TerraUSD's downfall will affect Bitcoin after the Terra Founder announced that he will use BTC to support the Terra ecosystem. Since Bitcoin is hardly an investment option right now, altcoins like TelsaCoin will have to make up for the rest of the cryptocurrency investment strategies. Here are the top altcoins that investors should be aware of in 2022, but make sure that your savings are intact and you are ready to bear any losses. Consult your financial experts before taking a further leap into the market right now!
After Ethereum's current dive when Bitcoin touched its lowest, the cryptocurrency finally recovered around the US$2,000 mark. Even though it is still at an exponentially volatile place right now, ETH would be a far better option for investment than Bitcoin. The ETH 2.0 launch is expected to support its current downturns, but investors should be careful while buying ETH since the crypto's market movements are quite similar to that of Bitcoin.
When the TerraUSD dropped, most investors became skeptical of even investing in stablecoins. But USD coin might prove a better investment than TerraUSD because its value is still standing at US$, at the time of writing this article. The USDC coin can be used for several purposes. It not only provides protection against volatility but is also accepted in various exchanges for payment purposes.
Even after the market volatility, Cardano has not lost its reputation as an actively developing blockchain project. It is one of the fastest-growing cryptocurrencies that also possess the biggest blockchain to successfully use a proof-of-stake consensus mechanism which is less energy-intensive than the proof-of-work algorithm.
XRP is the native token of Ripple. It proposes a cheaper and more efficient alternative to the popular SWIFT system to process international transactions. XRP Ledger is Ripple's open-source blockchain with the XRP coin as its native asset. It runs independently of the Ripple economy, although Ripple uses it for various purposes.
Binance Coin is the native token of one of the world's largest cryptocurrency exchanges. Binance focuses on bringing cryptocurrency exchanges to the forefront of financial activity on a global basis. Even though the Binance Coin seems to suffer currently due to the fact that almost all crypto exchanges are suffering due to the plummeting crypto values, Binance Coin might prove as a more profitable investment than several other cryptocurrencies in the market.
Most investors are shifting toward the NFT market amid the dwindling crypto market conditions. Apecoin represents one of the most popular NFT collections in the world, which is the Bored Ape Yacht NFT. Apecoin is the ERC-20 governance and utility token within the APE ecosystem. Over the past few weeks, Apecoin witnessed a massive increase in transactions as more and more investors started to join the NFT market.
Decentraland became a popular name in the crypto market after the metaverse became popular knowledge. Over the past couple of days, the number of Decentraland users rose by 3,300%, leading to a massive increase in price. The Decentraland is one of the biggest metaverse cryptocurrencies and is supporting the development of a domain that will provide extreme immersive, and exciting experiences.
The Sandbox is another metaverse cryptocurrency that has been soaring quite frequently lately. Even though the crypto market is in a vulnerable state right now, the SAND token has maintained a consistent reputation of being a profitable investment due to the rising popularity of the metaverse.
The Avalanche was the rising star of the crypto market before it started diving into a slump. In 2021, the token recorded a massive growth of at least 4,500%, outperforming several major cryptocurrencies. Given the crypto is also in a similar position as the rest of the cryptocurrencies, the token is yet to portray any massive downfalls. Its current position was, however, expected since the entire crypto market fell.
Dogecoin rose for a short period of time when Elon Musk declared his acquisition of Twitter. It is quite a volatile cryptocurrency, given that one single move of Musk decides the market movements of the crypto, nevertheless, as Musk might add Dogecoin for the payments system on Twitter, the token might regain its market dominance soon.
