In the midst of the ongoing crypto season, coins, even Bitcoin, are struggling with the harsh market. However, when the crypto market drops in price, with losses come opportunities for investors to get in at the best price. The following article mentions the top 7 potential cryptos that will help you have more options for potential altcoins to get through this winter.
1. Ethereum (ETH)
Ethereum (ETH) is definitely the top name on this list. This is the most popular altcoin that has the potential to replace Bitcoin.
More than 19% of the $1 trillion in total market capitalization of the more than 20,000 crypto assets accessible today is owned in Ethereum, the largest cryptocurrency on the market.
More than just a competitor of Bitcoin, The Merge upgrade that took place in September has shown the altcoin’s remarkable performance following the move to proof-of-stake (PoS).
The sole drawback of Ether is its hefty transaction costs. Ethereum, on the other hand, is here to stay, thanks to the myriad of programs and cryptocurrencies supported by its blockchain.
2. Binance Coin (BNB)
Binance Coin (BNB) is a utility token that may be used on the Binance exchange to pay trading costs and get discounted transactions. You may even utilize BNB for payment processing outside of the crypto exchange Binance.
With the backing of the world’s largest exchange today, BNB is a reliable choice for investors to keep during the crypto winter.
However, its strength is also its limitation, Binance was once in the sights of the Securities and Exchange Commission (SEC) about skeptical that BNB in the initial sale was securities or not. The decentralization of altcoins has also been criticized by critics. However, it still deserves the 2nd place to choose.
3. Litecoin
Litecoin launched back in 2011 as one of Bitcoin’s first alternatives.
Technically, Litecoin is very similar to Bitcoin, with a few minor tweaks. Because of their similarity, the two coins move closely in price. However, Litecoin uses a different cryptographic algorithm compared to Bitcoin.
Although not in the top 10 coins with the largest market capitalization, Litecoin’s performance is commendable and one of the coins investors should consider.
4. LuxWorld Token (LUX)
The LuxWorld Token (LUX) is the native token of LuxWorld.
LuxWorld is being developed to keep up with developments and to integrate travel into the Web3 world. The application is built on a few available parts based on SocialFi – a mix of social networking and finance used to develop decentralized social apps.
Besides the GameFi applications about Play to Earn and Move to Earn, LuxWorld gives players a completely new experience with traveling and making money called Travel to Earn. Therefore, LUX is one of the potential tokens that can bring profits to investors when the market is still in a state of uncertainty.
You can buy LUX presale in a few steps by directly using USDT, BUSD, ETH or BNB. To be able to participate in the presale, you can click here.
5. ApeCoin Token (APE)
In the BAYC ecosystem, the ApeCoin token (APE) serves both utility and governance functions. ApeCoin is the governance token of the Bored Ape Yacht Club, one of the leading NFT projects on the market.
This collection contains 9,999 NFTs that depict visuals of Apes with distinct characteristics. Those who buy these BAYC NFTs will be able to claim free Ape Tokens.
Although the NFT price is also being influenced by the general market, APE is one of the potential tokens as BAYC developer Yuga Labs is expanding its business into metaverse areas.
6. Cardano (ADA)
Cardano (ADA) is one of the top 7 potential cryptos to invest in. Cardano, like Ethereum, is an ancient blockchain network. The greatest advancement on this network, however, occurred in 2022 with the Vasil hard fork update, which added smart contracts to the Cardano network.
Cardano smart contracts can increase ADA use, which may contribute to the token’s price increase. This casts a good light on the potential price gains for ADA in 2022.
Charles Hoskinson, the founder of Cardano, has been at the forefront of any Cardano development. Because of Hoskinson’s dedication to the Cardano blockchain, ADA may rank among the top ten cryptocurrencies in terms of market capitalization.
7. Polkadot (DOT)
Polkadot (DOT) is also a nice cryptocurrency to invest in in 2022. Polkadot was developed to address the scalability issue in the blockchain industry. Polkadot has acquired the status of a possible Ethereum killer by concentrating on enhancing network performance and cutting transaction fees.
Polkadot was established by one of Ethereum’s co-founders Gavin Wood, who left the latter network due to disagreements with addressing difficulties on the Ethereum network.
Polkadot has prioritized compatibility in addition to scalability. This enables communication among blockchain networks. Interoperability is an important feature since it allows Polkadot developers to exploit the possibilities of other blockchains.
Conclusion
Above are 7 potential cryptos that investors may need to mention.
The bear market always comes with the fact that we can enter at a discounted price. Altcoins are a great way to diversify your crypto investment portfolio.
However, investors need to have a specific strategy and a thorough assessment of the coin they invest to avoid the risk of loss. There are thousands of altcoins in the cryptocurrency market, and selecting the one that meets your needs can be a tricky thing.
