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Crypto

7 Best Cryptocurrency to Buy in 2022

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Over the previous month, the cryptocurrency asset class has fluctuated significantly, with numerous major tokens such as Bitcoin (BTC) and Ethereum (ETH) achieving all-time highs before falling into bear markets. The appearance of the omicron variety and the Federal Reserve’s open willingness to hike interest rates earlier than previously believed to help battle inflation were two triggers that sparked the decline.

In 2022, digital assets will remain one of the riskiest areas to invest in while also offering one of the most attractive development possibilities. Here are seven of the finest cryptocurrencies to purchase in the last month of 2021, along with the reasons why each one can be a good investment.

01. Bitcoin (BTC)

Bitcoin

For every investor interested in dipping their toes into the cryptocurrency industry, Bitcoin is a must-have. Even with the latest correction, BTC still accounts for around 40% of total market value, a figure called as “dominance.” The digital asset had a busy November, reaching an all-time high just shy of $69,000 before entering bear market territory late in the month after the debut of the omicron variation.

El Salvador, the world’s first country to adopt Bitcoin a national currency, bought the most recent drop in BTC, with its president declaring on December 4 that the country had purchased 150 coins at an average price of $48,670. Playing short-term trends in crypto is more comparable to gambling than investing, much like it is in the stock market.

Bitcoin, on the other hand, is still on the rise for long-term investors, and if history is any guide, extreme pullbacks should be viewed as buying opportunities.

02. Ethereum (ETH)

Ethereum

Ethereum is still one of the finest cryptocurrencies to invest in right now. With Ethereum’s dominance at more than 21%, not only do BTC and ETH account for more than 60% of the market, but Ethereum actually got more dominant amongst the two during the turbulent 30 days from Nov. 5 to Dec. 5. Unlike Bitcoin, which saw its market share fall from 42.7 percent to 40.8 percent over that time, ETH saw its market share rise from 19.6 percent to 21.6 percent.

Ethereum is the most widely used blockchain in the world, as well as the network of choice for the nascent and burgeoning sector of decentralized finance (DeFi) and a popular home for nonfungible tokens, or NFTs.

03. Solana (SOL)

Solana

The unexpected development of Solana, which rose from 0.01 percent of the market to more than 2.6 percent by early December, was one of the more surprising narratives of 2021 for cryptocurrency as a whole. The DeFi industry, which is defined by smart contracts, a trustless environment, and the outright rejection of third-party financial gatekeepers such as banks and centralized exchanges, is almost certain to gain traction in the coming years.

Those betting on DeFi’s continuous development might consider Solana, a developer-friendly network with significantly cheaper transaction costs than Ethereum. Solana is one of the finest cryptocurrencies to buy because of its low fees, developing ecosystem, and exciting future in DeFi.

04. Binance Coin (BNB)

Binance Coin

Despite being the third-largest token by market capitalization, BNB only accounts for 4.1 percent of the cryptocurrency market, giving lots of space for it to grow in the future. Binance Coin did just that in 2021, increasing its market domination from 0.7 percent at the start of the year to 4.1 percent by early December. BNB, like many of the best cryptocurrencies to buy in, is the native coin of the Binance Smart Chain, which is becoming increasingly popular.

Binance is the largest cryptocurrency exchange in the world, surpassing even Coinbase Global Inc. (ticker: COIN). BNB was introduced in 2017 and has a maximum supply of 200 million coins. The exchange’s ultimate objective is to limit supply to 100 million BNB, which it does through quarterly “burns” that lower supply.

05. Polygon (MATIC)

Polygon (MATIC)

The Polygon platform, which was partially funded by Binance and Coinbase, was developed on Ethereum with the goal of transforming Ethereum into a multi-chain system. The goal is to establish a more flexible and scalable bitcoin ecosystem that will allow for faster mass adoption of cryptocurrencies.

MATIC has risen in value from less than 2 cents at the start of the year to almost $2 in early December, placing it among the top 15 cryptocurrencies by market valuation. MATIC was one of the few big tokens to actually increase in the early December sell-off, surging 21% between Nov. 28 and Dec. 5.

This was the most recent test of Polygon’s stability. MATIC’s resilience in difficult circumstances is the icing on the cake, confirming it as one of the finest cryptocurrencies to buy in in December and beyond.

06. Avalanche Token (AVAX)

Avalanche Token (AVAX)

Avalanche was founded by a group of Cornell University-affiliated computer science experts in 2020 and is financed by Andreessen Horowitz, a leading startup capital company. The AVAX currency started the year at $3.17 and now trades for more over $80, indicating that its network has quickly gained market share. Avalanche has stated that it intends to surpass Ethereum as the most popular smart-contract blockchain.

What Avalanche lacks in short-term resiliency – AVAX underperformed during the most recent market correction – it makes up for in popularity. Avalanche is increasing in popularity because to “bridges,” which allow users to shift cryptocurrency from one blockchain to another. It’s also becoming more compatible with well-known Ethereum applications like SushiSwap.

07. Kitty Inu (KITTY)

Kitty Inu (KITTY)

The month’s last option, as is customary for this list, is a totally speculative name that is easily the riskiest cryptocurrency featured. Kitty Inu is an aspiring meme token, while the other tokens contending for the title of greatest cryptocurrency to invest in all have genuine usefulness, their own blockchains, and documented use cases.

The least market capitalization of the preceding six choices was roughly $14 billion, while KITTY’s completely diluted market capitalization is around $100 million. Kitty Inu is undoubtedly the most likely to “moon,” with the coin now costing roughly one-hundredth of a penny, while being significantly more likely to lose a large chunk of its value than other options.

With dog-themed currencies like Dogecoin having had their day in the sun, one may anticipate feline-themed cryptos to ultimately ride the meme wave, with KITTY being a big winner. Kitty Inu should only be backed by investors who are ready to lose their whole investment.

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