Cryptocurrency experienced significant popularity around the globe in 2021.
As a result, multiple countries have welcomed the change of cryptocurrency, but some are still against it or are still confused.
Nevertheless, in November, Altcoins hit an all-time high (ATH) of $68,521 dollars.
Cryptocurrency
According to FX Street, the total market capitalization of cryptocurrencies is now at $2.91 trillion.
Meanwhile, the decentralized finance (DeFi) industry, in particular, has gained traction with investors. Its market capitalization has increased by about $100 billion since the beginning of 2021 to $112 billion.
These, and other indicators, suggest that more than Bitcoin and Ethereum will be on the rise in the coming year. In fact, there are numerous cryptocurrencies that have the potential to acquire traction.
In this article, Altcoins Solana, Waves, and Terra would briefly explain why they might be more appealing to investors in 2022.
Cryptocurrency: Solana (SOL)
Solana uses a proof-of-history (PoH) consensus technique to increase the network's efficiency.
While traditional blockchain relies on the generation of blocks in a sequential order that must be confirmed across the network, PoH allows validators to compute the state of the network directly from the ledger.
As a result, the Solana protocol may run on its own internal clock and handle over 50,000 transactions per second.
As reported by First Post, in addition, Solana has a market capitalization of $65 billion and daily transactions of over $1 billion.
According to the daily volume, it is among the top ten currencies.
It hit an all-time high of $260.06 in November before falling to $215.54 presently.
Cryptocurrency: Waves (WAVES)
Waves is a platform for developing decentralized applications (dApps), smart contracts, and new coins.
WavesNG, a proof-of-stake (PoS) consensus, and the network's native token WAVES are used.
For mining, payments, and voting, the token is employed as a reward and incentive. WAVES makes Waves compatible with the Ethereum network because it is an ERC-20 token.
In May 2021, the token's price reached an all-time high of $41.33.
It is currently trading at roughly $21, indicating that the price may rise to this year's high levels later in 2022. As a result, many feel it is worthwhile to keep an eye on it.
Cryptocurrency: Terra (LUNA)
LUNA, the Terra protocol's native currency, is another notable crypto.
Stablecoins pegged to common fiat rates, such as TerraUSD, are used in this base-layer system.
LUNA serves as a reserve asset, ensuring that the price of these stable coins remains stable.
As reported by Coinpedia, the price of the LUNA token soared to a new high of $49.43 shortly after this announcement. The following month, the stock hit a new all-time high of $54.77.
The coin is currently trading at $43.15, and it is anticipated to have positive growth over the next year.
Things To Consider Before Buying Altcoins
The DeFi and NFT markets are in the focus this year. It's worth keeping an eye on a few notable projects in these areas that are projected to gain traction in 2022.
Several new ventures are also expected to emerge on the scene.
The real or virtual world use of cryptocurrencies, as well as the flexibility and security of blockchain protocols, are currently the most important aspects for investors.
Before making any financial decision, it's critical to conduct your own research. While these up-and-coming coins have the potential for large gains, crypto investments are inherently risky.
