8 Best Cryptocurrencies to Invest in 2022
The broader crypto market is going through a worrying time, especially throughout the month of April 2022. In top cryptocurrencies such as Terra ($ LUNA) their prices are seen at all-time lows from the charts. As governments around the world rally around the rules on digital assets, there are ongoing efforts by various countries to advance central bank digital currency (CBDC) projects.
At one of the most sensitive moments in the history of cryptocurrency, people are confused about the future of digital assets. The market faced a similar situation last year and then finally gave up the fight. However, there is an opportunity in the midst of trouble. For those looking to invest and ‘buy dips’, here is a list of the best cryptocurrencies to invest in 2022.
Polygon ($ MATIC) – Layer 2 platform for Ethereum
Polygon is classified as a Layer 2 platform because it works with the Ethereum network, and Ethereum is known for its ability to reduce transaction costs and increase transaction speed on the blockchain. These are important features of the polygon that make it one of the integral parts of the Web3 infrastructure.
Its main product, Matic POS (Proof-of-Stack), is designed to scale polygon atrium as a platform and create layer 2 infrastructure such as Validium, ZCrollups, Plasma and Optimistic Rollups.
Last year, Polygon acquired the Mir protocol for $ 400M, eventually expanding the possibilities of Eth 2.0 scaling. Polygon ($ MATIC) is a cryptocurrency that will remain at the center of Web3 for years to come.
Sandbox ($ SAND) – Metavers and gaming platforms
Sandbox is a metavars platform where gamers can play, create and monetize their activities with non-fungible tokens or NFTs. Their utility token is $ SAND.
Players can use NFTs as proof of ownership of digital assets in the game. Players can trade these digital commodities on the NFT Marketplace and integrate them into their games. In addition, Sandbox offers players digital real estate in their metavers, which anyone can purchase with $ SAND tokens.
Facebook has been rebranded as a meta, we all know that Metavers is the next iteration of the internet where individuals can play, earn, socialize and interact. An anonymous buyer recently paid $ 450,000 to buy a virtual plot of land next to the digital residence of the famous rapper Snoop Dogg in Sandbox Metawors. AN SAND is one of the cryptocurrencies that deserves attention.
Filecoin (FIL) – Distributed file transfer and storage
Filecoin ($ FIL) is a relatively new cryptocurrency. Anyone who wants to convert unused data into a powerful business resource can invest in this crypto to gain access to a distributed data storage network.
Storage space can be purchased from the store using the $ FIL token on the project website. Based on the Network Interplanetary File System (IFPS) protocol. In addition to providing P2P sharing of storage, the network also acts as a layer to encourage network participation.
Enjin ($ENJ) – Digital Asset Marketplace and Gaming Platform
The Enjin coin ($ENJ) is another metaverse coin focused on gaming. The Enjin platform has many usage cases for $ ENJ, its original token, it is an all-in-one digital asset for NFTs and in-game purchases. The engine aims to become one of the largest online gaming communities. There are already 250,000 gaming communities with over 18 million gamers on the engine platform.
The team working at Enjin specializes in NFTs. He proposed a token standard that was approved as the standard Ethereum token for special NFT – ERC-1155.
Like The Sandbox, Enjin distributes software development kits (SDKs) to developers to facilitate faster integration into games.
Graph ($ GRT) – Indexing protocol for performing blockchain queries
Most of us are unaware of how the Internet works without understanding the role of Universal Resource Locator or URL. Without the URL, even the Google search engine would not exist. URLs help to index data over the Internet.
Similarly, the graph aims to create an index standard for the decentralized application world. This will make querying the data on the blockchain more accessible.
Developers use Graph’s Open API, which allows easy access to already indexed on-chain data through a network of node operators. The technology behind the platform is called subgraph. It is open source, which helps developers to create decentralized apps (dApps).
High-profile projects such as Synthetics, Odysseus and Uniswap are some of the Ethereum DAPs created using the subgraph. $ GRT is a great crypto token to add to your portfolio.
ChainLink ($LINK) – Decentralized Oracle Network
The primary objective of ChainLink is to solve the problem of most securely connecting smart contracts with real world events. A smart contract is a code that covers a specific business logic due to various use cases.
Smart contracts need to feed real-world data to meet the requirements of the terms of the offer. These ‘oracles’ are the units that connect blockchain to external systems (real world information). They allow smart contracts to be executed based on inputs and outputs generated from the blockchain.
ChainLink is primarily a network of independent Oracle node operators. It provides a more secure service than previous Oracle service providers.
The services provided by Chainlink are proving to be one of the most efficient services in the blockchain ecosystem. Many crypto projects use Chainlink to connect to EVM-based networks. As a result, its original cryptocurrency $ LINK has huge potential in the coming years.
DENT ($ DENT) – Emerging cryptocurrency built on Ethereum
DENT ($ DENT) is developed on the cryptocurrency Ethereum network. It aims to be the best global mobile data network. The project is a complete ecosystem that seeks to create a smartphone and mobile phone user community.
Dent is primarily a data exchange platform that controls it without a central body. Users can buy mobile data and also share their data. The platform has Dent mobile application that can be installed on any mobile device. Using this app you can buy and send mobile data to anyone in the world. The addressable market is huge, and therefore, the $ DENT token has great potential to make it even bigger in the future.
Pancake Swap (2 Cakes) – Decentralized Exchange (DEX)
Pancake Swap is the largest decentralized exchange (DEX) operating on Binance Smart Chain (BSC). It is based on the Automated Market Making (AMM) system. The platform is a fork of Sushi Swap, a DEX built on the Ethereum blockchain.
Fork refers to a project that shares its codebase with other projects, but with some differences that are added to the original project by creating additional features. Pancake Swap runs on Binance Smart Chain, which is faster and cheaper than Ethereum.
BSC is formed by Binance, one of the largest crypto exchanges, and works on evidence of stack consensus. Instead of thousands of nodes on Ethereum, only 21 validators verify transactions here.
$ Although CAKE is a relatively new cryptocurrency, no one can rule out the potential for cryptocurrency growth.
The crypto market is currently range bound. One could argue that the market is at or near the end of this cycle. A diverse portfolio with these crypto-assets mentioned above could soon offer many benefits to investors. Buying assets near the bottom of the cycle for medium-term investments gives investors an excellent risk-reward opportunity.