Cryptocurrencies are trending around the world. Check out these 10 cryptocurrencies expected to surge in the crypto market in 2022.
Over the last few years, cryptocurrencies, blockchain technology, and decentralized finance (Defi) have gained incredible traction. In early 2021, Bitcoin, Ethereum, Cardano, and Dogecoin dominated headlines and became immensely popular. There are 10 cryptocurrencies other than Bitcoin, Ethereum, and Cardano that are expected to explode in 2022.
Solana (SOL)
The Solana open-source project is a highly-functional project that leverages blockchain technology’s permissionless nature to provide solutions for decentralized finance (Defi). The blockchain technology of Solana is known for its incredibly short processing times. Using Solana’s hybrid protocol, transaction and smart contract validation times are significantly shortened. Solana’s lightning-fast processing times have attracted institutional interest as well.
Avalanche (AVAX)
Avalanche is a layer one blockchain serving as a platform for decentralized applications and custom blockchain networks. One of Ethereum’s rivals aims to unseat Ethereum as the most popular blockchain for smart contracts. As a result, it aims to achieve a higher transaction output of up to 6,500 transactions per second without compromising scalability.
Algorand(ALGO)
The Algorand network is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. Security, scalability, and efficiency are all important properties for effective applications in real life. To create new forms of trust, Algorand will support computations that require reliable performance guarantees.
Due to the slow transaction times of Bitcoin and other blockchains, Agorand was invented to speed up transactions and improve efficiency.
Polygon (MATIC)
The Polygon (formerly Matic Network) platform is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Polygon SDK is its core component, a modular, flexible framework that supports building different types of applications. Polygon allows one to create optimistic rollup chains, ZK rollup chains, stand-alone chains, or any other kind of infrastructure required by the developer.
Aave(AAVE)
Ave is a decentralized finance protocol that lets people lend and borrow cryptocurrencies. By putting digital assets in specially created liquidity pools, lenders earn interest. The borrower can then use their crypto as collateral for a flash loan using this liquidity. In November 2017, Aave (which means “ghost” in Finnish) was launched as ETHLend, but in September 2018, it was rebranded as Aave. Owners of AAVE receive discounted fees on the platform, as well as a voice in the future development of the protocol.
Shiba Inu(SHIB)
This meme coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” A community of investors was quickly attracted to the adorable charm of the coin paired with captions and tweets from celebrities like Elon Musk and Vitalik Buterin. Shiba Inu was listed on Coinbase, the largest US-based crypto exchange, on Sept. 17, 2021. Shiba Inu’s price rose over 40% in the following two days, bringing the meme dog token back into the spotlight.
Terra (LUNA)
Terra is a blockchain protocol based on fiat-pegged stablecoins to power price-stable global transactions. In accordance with its white paper, Terra connects the price stability and wide adoption of fiat currencies with the censorship resistance of Bitcoin (BTC) and offers fast and affordable settlements. Terra’s development began in January 2018, and its mainnet was launched in April 2019.
Uniswap(UNI)
UniSwap is a popular decentralized trade protocol that facilitates the automated exchange of decentralized finance (Defi) tokens. Uniswap was started in November 2018 but has gained significant traction this year as a result of the Defi phenomenon and the resulting rush in token trading. UniSwap strives to keep token trading automated and open to anyone who holds tokens while advancing trading efficiency compared to traditional exchanges.
Chainlink(LINK)
Chainlink is a blockchain abstraction layer that enables universal smart contracts. Chainlink connects blockchains to external data feeds, events, and payment methods as a decentralized oracle network, providing the off-chain information that smart contracts require to become the dominant form of digital agreement.
Polkadot(DOT)
Polkadot facilitates the cross-chain transfer of any data or asset type, not just tokens, thereby allowing a variety of blockchains to be interoperable. This interoperability aims to build a fully decentralized and private web controlled by its users and simplify creating new applications, institutions, and services.