FX.co ★ Top 5 altcoins to buy in 2022

Ethereum

Ethereum will maintain the status of the leading smart contract platform this year. According to Defillama, the value of Ethereum-based projects totaled $153.2 billion and then exceeded $165 billion in December 2021. Benjamin Cowan considers the second cryptocurrency to be the altcoin index. He assumes it will be bullish in 2022, driving other tokens up.

Polygon

Polygon surged by 13,387% in 2021. The altcoin will show considerable growth and extend the bull run this year, Mr. Cowan believes. By late December 2021, the digital asset traded at $2.5. However, it then lost about 1% in value. Polygon is a layer two scaling solution for building Ethereum compatible blockchains. The altcoin uses the Proof-of-Stake (PoS) algorithm. The Polygon network boasts faster transaction execution and lower commissions when compared to Ethereum.

Cardano

Cardano will skyrocket this year, crypto analysts say. The digital asset has already swelled 596% and keeps adding gains. The altcoin hit an all-time high of $3 in September 2021. Since early 2021, Cardano has advanced by 1,566%. According to Cowan’s estimates, the value of the cryptocurrency will increase after a correction in 2022. In December 2021, Cardano traded at $1.3 with a weekly gain of 1%. Its market capitalization rose to $42.9 billion. Cardano uses Proof-of-Stake (PoS) and is a platform for building decentralized applications (dapps) and smart contracts.

Polkadot

The Polkadot token showed impressive growth in November 2021 and a correction phase began afterward. The altcoin hit the record high of $54, up by 650% since early 2021. The cryptocurrency may update its all-time high this year, according to Cowan. In December, Polkadot traded at $27.4, adding 1% in a week. Its market capitalization increased to $29.2 billion. The Polkadot project connects different blockchains under one network, allowing them to interact with each other.

The primary goal of the project is to create a single multi-chain application environment.

Avalanche

The value of the Avalanche token exceeded $144 in early 2022. Since the beginning of last year, the cryptocurrency has surged by a record of 4,865%. This year, the altcoin will rise sharply and update its historic high, Cowan estimated. In December 2021, the digital asset traded at $103. Avalanche is an open-source platform designed to run decentralized applications (dapps) and work with enterprise blockchains.