Cryptos investors have been priced out of the market as a result of Bitcoin’s remarkable ascent over the last 18 months, but that doesn’t mean you’ve missed the cryptocurrency train entirely.
With over 8,000 digital currencies in circulation, there are numerous potential choices to help get your 2022 off to an affluent start.
So, let’s look at three cryptocurrencies that have the potential to outrun Bitcoin and explode.
Ethereum is the second-largest cryptocurrency, with a market cap value of approximately US$450 billion. Despite having half the market capitalization of Bitcoin, Ethereum has outperformed by more than 400%.
While Bitcoin remains the undisputed leader, there are signs that Ethereum may be on the verge of overtaking it.
The primary reason for this is that Ethereum functions as a decentralized network on top of which many applications build. The Ethereum network issue a large number of cryptocurrency tokens.
Ethereum has risen by more than 56,700% in the last five years, surpassing Bitcoin. This pattern appears set to continue into 2022.
Solana gained more than 10,000% in 2021 as a result of a combination of experimental energy and the network’s rise as a launching ground for blockchain-based applications.
Solana’s blockchain, like Ethereum’s, creates non-fungible tokens (NFTs) and DeFi apps.
Anatoly Yakovenko founded Solana, which is a direct competitor to Ethereum. It also has a significant advantage: it has a high transaction-processing capacity.
The Solana network can process up to 50,000 transactions per second, while Ethereum’s blockchain can only manage roughly 13 transactions per second.
Solana is the world’s fifth-largest crypto, with a total market cap of $54 billion.
Based on total market capitalisation, Avalanche (AVAX-USD) is the smallest of these three cryptocurrencies. However, don’t be beguiled by its size. After gaining nearly 3,350% in 2021, Avalanche ranks 11th on CoinMarketCap’s list of the top cryptocurrencies.
Because both have smart contract capabilities, Avalanche frequently compares to Ethereum. Smart contracts, which are collections of code that execute a set of instructions on the blockchain, are critical in the operation of DeFi and NFTs.
Avalanche aims at performing faster transactions with lower fees than Ethereum, making it more user-friendly for beginners.
Keep a keen eye out for these three cryptocurrencies and remember to always conduct your own research.
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