Missed out on Bitcoin? Crypto investors have the top five cryptos to drive profit in 2022
Warren Buffet called it ‘rat poison’ and with ‘no unique value’. Other top traders noted a crash to 50% of its value within two months. But no one can argue against Bitcoin’s knack for going against popular opinion.
Bitcoin hit its all-time high of $68k in November last year before prices tumbled in late January 2022 to just 33k. It has since rallied to a price over $47,000 to post its highest price of 2022 so far. Had you invested $1000 at Bitcoin’s lowest point this year, you could be selling up for $1,420 some two months later.
Bitcoin now faces an important battle. Bitcoin could continue this bullish run and continue to climb towards its all-time high – or even beyond. Equally, Bitcoin prices could crash, making right now a tricky time for investors.
If you didn’t buy up Bitcoin at its low of $33k this year, here are 5 other cryptos to look at if you missed Bitcoin’s local high this time around.
EverGrow Coin (EGC)
Current price: $0.0000004652
Current market cap: $230 million
EverGrow Coin is on the verge of dropping two new applications, which are each groundbreaking in their own right. Crator is the world’s first content subscription platform to facilitate crypto and fiat currencies, and with an easy interface to attract new users with no experience in crypto. Crator will charge just 5% commission on payments, compared to OnlyFans’ 20% and Patreon’s 9-12%.
EverGrow Coin will also drop an NFT marketplace that will become the first to allow borrowing against NFT assets. Loans can be overcollateralized with NFTs and allow owners to find new income streams rather than just trading their digital art and music assets.
With a modest market cap at $230 million and two utilities to drop within weeks, EverGrow Coin could be the next top crypto gainer.
Ethereum
Current price: $3,343
Current market cap: $402 billion
Most cryptocurrencies rise in price following a surge in Bitcoin prices. Despite being the second-largest token by market cap, and with a developer platform that Bitcoin doesn’t have, Ethereum tends to follow this trend. Its all-time high of $4,891 was hit in November last year at the same as Bitcoin’s all-time high.
But this could all change in 2022. Ethereum is moving to a new consensus mechanism that will speed up processing times and drastically reduce Ethereum’s gas fees. These fees fluctuate depending on the activity but have historically been over $50 per transaction – many times exceeding the value of the transaction at hand.
If Ethereum’s network shift is swift and successful, it could de-couple from Bitcoin in its race for a new all-time high.
Cronos
Current price: $0.495
Current market cap: $9.2 billion
Cronos has had a rapid rise in the last few weeks to jump into #18 place according to CoinMarketCap. Cronos (CRO) is the native token of the Cronos Chain developed by the Crypto.com payment and financial services company. Crypto.com also has a mobile payments app aimed at attracting newcomers to cryptocurrencies.
Cronos is likely to become a name on many people’s lips as last week it was announced as a sponsor for the Qatar FIFA World Cup this 2022. If more people buy in this summer, now could be a good time to start accumulating.
Decentraland (MANA)
Current price: $2.78
Current market cap: $5.1 billion
Decentraland is the biggest metaverse cryptocurrency right now, with the market cap of its MANA token growing from about $200 million this time last year to over $5 billion today. MANA is the native token used to monetise transactions in Decentraland, and can be used to buy up items or wearables in the Decentraland marketplace, access spaces, gamble, and much more. MANA can also buy you a LAND non-fungible token, which you can use to build and monetise your own plot in the metaverse.
Though banks like JPMorgan recently opened a lounge in Decentraland, interest is growing among average users far outside the USA. Decentraland was set up by two Argentinians and offers many South Americans access to cryptocurrencies that hold their value against a country’s dwindling fiat currency. For example, many gaming guilds offer monthly salaries over $1000 USD, compared to Argentina’s minimum wage of $165 USD.
Litecoin
Current price: $131.36
Current market cap: $9.2 billion
Litecoin is back in the crypto top 20 after posting 14% growth in the past seven days. Its rapid rise is attributed to Japan’s green-listing of 18 cryptocurrencies that are exempt from screening every time an exchange lists the token. Alongside Bitcoin and Ethereum, Litecoin is on the list.
Litecoin’s listing is no doubt thanks to its fast, secure, and low-cost payment mechanism that’s been in existence for over a decade. Charlie Lee, a former Google employee, launched Litecoin as a ‘lite’ version of Bitcoin that quickly exploded in usage and has been in the crypto top 10 for most of its existence.
As world governments look towards tighter regulation of cryptocurrencies, Litecoin could become a favorite.
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