What are the Five best Cryptocurrencies Projected to Boom in 2022?

What are the Five best Cryptocurrencies Projected to Boom in 2022

We all are familiar with how the crypto market works. We have a whole bunch of hype in the space, people investing big money, everything is going up. This is where the smart people come in to invest because they know it is just a matter of time before the market will soon touch the moon.

The year 2021 was the year of cryptocurrency. If you would have bought Ethereum a year ago, you would be up more than 400%. If you would have bought Cardano you would be up more than 1000%. If you would have bought Dogecoin, you would be up more than 10,000% today in your money.

Companies bought into this crypto craze. PayPal, Starbucks, Amazon, cheap Air, and many other companies started to accept crypto. El Salvador becomes the first country to designate bitcoin as legal tender.

Will 2022 be an even crazier year for cryptocurrencies? and what is future of cryptocurrency? Among 8,000 cryptocurrencies in the world, we will be looking over the top five digital currencies to invest in 2022.

1. Bitcoin (BTC)

Bitcoin is the decentralized digital currency that was created by Satoshi Nakamoto in 2009. Of Course, we all know and recognize that bitcoin was the first step towards decentralized finance and blockchain technology.

Bitcoin is ranked number one based on the market cap. currently, bitcoin price is $41,992, which is up almost 0.028% in the last 24 hours. Its total market cap is $795.52 billion.

Bitcoin is somehow dubbed as the digital equivalent of gold and this is because the assets in its network are designed so there is a limited supply. Only 21 million coins can be mined from the network.

Simple economics tells us that scarcity drives demands which drive value. Bitcoin will grow rare and rare by the day so it wouldn’t be unreasonable to expect its value to keep rising for a very long time.

2. Ethereum (ETH)

Etherum is the decentralized open-source smart contract blockchain platform conceived and launched by Vitalik Buterin in 2013. It is known for its introduction of smart contract functionality, making the project the most valuable player in the crypto space.

For years now, ethereum has been the digital leader and primary innovator in the crypto space. More than 3,000 applications are powered by ethereum.

When we take a look at the projects being developed that are projected to surpass ethereum one way or another. So many of these projects were built on the ethereum in the first place.

Don’t forget the ethereum 2.0, the network-wide update that will completely transform ethereum into something even better.

3. Bficoin (BFIC)

Bficoin is a decentralized coin that is supported by a massive Bfic ecosystem. Integrating all the positive aspects of Bitcoin, Ethereum and TRON this new coin is based on third-generation blockchain technology. Although this coin is new, it is still making rocket progress in the market..

In the past few years, bitcoin and some other major coins have ruled the market from the top. Many other coins tried to get to the top but no one was worthy enough. BFIC with its third-generation advancements and better blockchain technology has the capacity to compete with the crowning coins of the market.

The roadmap of the company shows the launch of various projects. Almost one project each month is promised by the development team of the Innovation factory. By far they are doing well in this commitment. They have already launched 3 out of 15 projects. With the launch of every new project, BFIC will grow parabolic.

Considering the progress made by the company so far and upcoming projects. BFIC has the potential to go higher in the future.

4. Shiba Inu

Shiba Inu is a decentralized meme token that evolved into a vibrant ecosystem. Shib leash bone and Shiba swap have an innovative reward system with the shib incubator as well as shib nfts. They now have 585,000 communities and are growing fast.

Shiba now has a new NFT club which you can gain access to if you have one of the nfts. In their gallery 10,000 holders are uploaded and some of them are not even on sale yet.

Another thing Shiba has is what they call Shiba swap and the total value locked is more than $2.2 billion.

5. Dogecoin

Dogecoin is the coin to keep an eye on in 2022 because Elon Musk is a believer of this crypto. Every single time he tweets about Shiba or dodge or some sort of Shiba Inu, something typically happens to the price.

People act irrationally with these meme coins. They just buy them because they think people will buy them and that makes more people want to buy them. That is how these coins go up high.

They are to get in before it gets parabolic and when it starts to go up they sell them and make a profit. All these reasons are leading to believe that dogecoin is the right coin to buy in 2022.

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About the Author: Peter Beaumont

Peter Beaumont is a senior reporter on Daily Mid Time Global Development desk. He has reported extensively from conflict zones including Africa, the Balkans and the Middle East and is the author of The Secret Life of War: Journeys Through Modern Conflict. Email: peter@dailymidtime.com