There are thousands of cryptocurrencies on the crypto market, but Bitcoin remains the most trusted. When the value of BTC soared past US$65,000, many people became millionaires. More and more investors are trading in Bitcoin every day, proving that it’s no longer just a fad. Many buyers have already been attracted by the prospect of exponential growth, hoping to get ahead of what may become another success story like BTC in 2017. Experts think many Bitcoin alternatives have much dethroned Bitcoin as the largest cryptocurrency. These top altcoins are not only growing rapidly but also producing satisfying results.
The following are the top ten cryptocurrencies that might overtake Bitcoin in 2022.
Ethereum is the second-largest cryptocurrency by market capitalization and is most likely to overtake Bitcoin in the near future. Ethereum introduced smartMany major developments in the industry are based on smart contracts, including decentralized finance, non-fungible tokens, and many others. Industry developments, including decentralized finance, non-fungible tokens, and many others. Even Ethereum has several alternatives, but it has proven its worth to investors and might soon overtake BTC.
Cardano’s price has risen dramatically over the past year. ADA is a third-generation cryptocurrency that aims to fix some of the problems both Ether and BTC face. Its mission is to solve real-world problems based on blockchain technology while taking a research-intensive approach to development. Investors may also prefer ADA because its algorithm is more sustainable than the others.
The Solana processor can process 50,000 transactions per second, while Bitcoin can only process about 7 TPS. This proves that SOL is much faster than BTC. It has a programmable blockchain that can run smart contracts, and like Cardano, it is also environmentally friendly. SOL’s performance in 2021 has been impressive, and it has made its way to becoming the fifth-largest cryptocurrency by market capitalization.
Cryptocurrencies appeal to many people, but their decentralized nature discourages them from investing in them. According to Ripple, this safety is provided by the platform. The coin is the seventh-largest cryptocurrency in the market and the shiniest on top of the altcoin pyramid. The XRP network boasts incredibly fast transactions within a few seconds with low transaction costs.
Litecoin is often regarded as a close relative of bitcoin. There are a few differences between the two cryptos that make LTC more appealing. Litecoin was designed to operate about four times faster than Bitcoin. Litecoin can confirm the validity of transactions much faster than Bitcoin. Litecoin has a limit of 84 million coins, whereas Bitcoin has a limit of 21 million. LTC has a great future, despite its poor performance so far.
Avalanche is a rising star in the crypto market. AVAX coin can be used both as part of the avalanche consensus mechanism and to pay transaction fees. Ethereum has gained 3,800% year-to-date. In the future, the crypto is most likely to achieve the position of the largest cryptocurrency in the market as more applications move into its ecosystem.
Dogecoin is another meme coin in the crypto world. In terms of market capitalization, DOGE is currently a very lightweight cryptocurrency, but its growing community of investors is making it more popular every day, suggesting that it might have a massive growth potential in the future. DOGE is backed by the tech giant Elon Musk, which has greatly accelerated its growth.
Even though Cosmos is a competitor of Ethereum, its network is quite large and is growing rapidly. A proof-of-stake protocol is used to achieve interoperability. The growth of ATOM has largely been organic, unlike many other major cryptocurrencies that have huge marketing budgets.
Axie Infinity has grown 23000% this year, which was quite unexpected. Experts believe that since it popularized a new form of gaming called play-to-earn, it has forever changed people’s perception of online gaming. In return, the crypto’s popularity soared this year.
While Algorand is fairly new to crypto investors, it is quite powerful in terms of transaction speeds. In the past, it has demonstrated that its blockchain can process 1,005 transactions per second and complete these transactions in less than 5 seconds. ALGO has become a popular startup in the market and has attracted several investors.