The most recent cryptocurrency bull run is in rocky territory as of right now, but that doesn’t mean that cryptocurrency as a whole is a bad investment. In fact, a correction is actually the best time to put money into the cryptocurrency market, as you’ll see bigger gains once the market recovers and starts to improve. There’s no telling when that will be, but for now you can enjoy this period of low price action as you accumulate before the next parabolic run. Here are some of the top cryptocurrencies of 2022, and what we think will make the best investments as we head into a new era for the crypto market:
One of the biggest trends of 2021 is going to continue in 2022 with metaverse plays like Sandbox (CRYPTO: SAND), Gala Games (CRYPTO:GALA) and Decentraland (CRYPTO: MANA). While the aforementioned cryptocurrencies saw parabolic runs in 2021, their growth is not likely to slow in 2022 and beyond. With small user bases and tons of room for expansion, metaverse games have a promising future in store for them.
We’d recommend checking out metaverse projects that have seen some momentum already but could still see major growth. Projects like Metahero (CRYPTO:HERO), Star Atlas (CRYPTO:TLAS), Bloktopia (CRYPTO:BLOK), Epik Prime (CRYPTO:EPIK) and Redfox (CRYPTO:RFOX). There’s no telling which of these projects could be the next Axie Infinity, the only thing we do know is, at least one likely will be.
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited
One of the bigger problems with blockchain networks like Ethereum is the scaling. With a limited amount of transactions per second, scaling becomes the biggest issue with an increase of users on the network. As we see already with high gas prices to make a transaction on the Ethereum network, scaling is set to be a growing issue as things like NFTs become more popular in 2022.
Layer 2 scaling solutions are projects built on networks like Ethereum that help those blockchains run more efficiently. Projects like Polygon (CRYPTO: MATIC), OMG Network (CRYPTO: OMG) and Loopring (CRYPTO: LRC). These cryptocurrencies each have large market caps already, and their demonstrated utility shows that they would be a trustworthy investment in a slowed cryptocurrency market.
As the world of Web3 expands, there is a growing need for technologies that can connect blockchains with the rest of the internet. Oracle technologies help blockchains connect to the rest of the internet, giving them a way to check information from external sources and use it to confirm data on the blockchain that is used in transactions. This technology can say, bring sports betting to the blockchain, or secure billions of dollars’ worth of transactional information by confirming information between the internet and blockchains like Ethereum.
Chainlink (CRYPTO: LINK), is one of the biggest oracle projects, and one of the biggest and fastest-growing cryptocurrencies in the entire market. While it may not see exponential growth like meme coins often do, it is a preferred cryptocurrency among major, institutional whales that are averaging into cryptocurrency projects. As they say, follow the money.