The cryptocurrency market saw many ups and downs in the year 2021, Some crypto investors made their fortune and some lost a significant chunk of their investments in this crypto market owing to the volatility involved in this digital market.
The leading cryptocurrencies like Bitcoin, Ethereum & Cardano reached their all-time high levels given as below in the year 2021-
- Bitcoin- $68990
- Ethereum- $4865
- Cardano- $3.10
And these numbers are further expected to grow exponentially in the year 2022 by looking at the previous growth trends and the future anticipations of the crypto experts of the industry.
The FOMO effect in the millennials
There are numerous searches being made over the internet about What are the top cryptocurrencies to invest in 2022 in India? highlighting the inquisitiveness in the crypto enthusiasts in India to explore the unprecedented and not to miss out on the bus to exponential returns on their crypto investment this year.
Also few significant events and news like El Salvador becoming the first country to recognize Bitcoin as its legal tender from September’21, have raised the confidence levels amongst many crypto enthusiasts that this could just be the beginning of the Crypto era, where cryptocurrencies will play a significant role, not just as a medium of exchange but also as a medium of rewarding investment avenue in the coming future.
Apart from these leading cryptocurrencies there were few newbies that gave unexpected whooping exponential returns such as Shiba Inu a meme coin, which turned an investment of $100 (made in Jan’21) into $45,273,973 by Dec’21 i.e. an appreciation of approximate 4,50,00,000% in less than a year.
Top 10 Cryptocurrencies to invest in 2022
We have prepared a list of cryptocurrencies to answer your most commonly asked question i.e. ”What are the top 10 cryptocurrencies to invest in 2022”? or next big cryptocurrency in 2022 so that you too can invest in cryptocurrencies and earn handsome returns on your investment.
The ranking order is set on the basis of the market capitalization of these cryptocurrencies which makes the ranking justification quite logical.
1. Bitcoin (BTC)
- Bitcoin continues to maintain its dominant position in the world of Crypto market. It currently has a market capitalization of $796 billion as on January 20 as given on coinmarketcap.com.
- Bitcoins will a maximum supply of 21,000,000 BTC in its entire lifetime and its present supply in circulation is of 18,934,825 BTC
- Its live price (i.e. at the time of writing this blog) is around $42004.63 USD
- Bitcoin’s price nearly doubled in past 1 year as it was trading just under $30000 USD in the beginning of the year and it made its all time high over $68000 USD in November’21.
- Its average growth rate is around 84.56% as given on Ycharts.com
Also Read: Why you should invest in Bitcoins in 2022
2. Ethereum (ETH)
- Ethereum also continues to hold its strong position at number 2, it has a market capitalization of $374 billion as on January 20 and shared over coinmarketcap.com.
- The Ethereum’s supply chain model is different from Bitcoin’s supply chain model and there is no maximum limit on Ethereum supply, however its present total circulation in the market is 11,92,33,938 ETH coins.
- Its live price (i.e. at the time of writing this blog) is around $3,140.34 USD
- Its price in the beginning of the year 2021 was around $1385 USD which soared to $4800 USD in November’21, means a growth of more than 200% during this period.
- Its average growth rate as given in Ycharts.com is 186.5%.
- It is a decentralized open source blockchain system that offers its own cryptocurrency, it provides a platform for other cryptocurrencies.
- Ethereum provides a platform to its users to create NFTs & smart contracts online by using Ether as a medium of transaction.
Must Read: What are NFTs? How Do they Work? How to Create NFT for FREE and earn money?
3. Tether (USDT)
- Tether is unlike other cryptocurrencies; it is the largest stable coin that has relatively more stable price than other cryptocurrencies.
- Tether is backed by fiat currency and pegged to U.S. dollar, hence its price hypothetically mirrors the price of U.S. dollar.
- Owing to its backing by a fiat currency i.e. U.S. dollar this cryptocurrency does not face volatility situations like other cryptocurrencies and is preferred by many crypto enthusiasts that wish to avoid major price fluctuations.
- Tether has a market capitalization of $78 billion as on January 20 as given on coinmarketcap.com.
- Its live price (i.e. at the time of writing this blog) is around $1 USD
- Presently there are 78.32 billion USDT in circulation and the data on its maximum supply limit is not available.
4. Binance coin (BNB)
- Binance coin or BNB is a coin developed by Binance Exchange which is the biggest cryptocurrency exchange globally in terms of daily trading volume.
- BNB was initially on Ethereum network but now it has its own network based on blockchain known as Binance chain.
- BNB was created as a utility token to pay trading fees but it’s application has expanded to payment of transaction fees (on Binance chain), travel ticket bookings, payment for online services etc.
- BNB’s market capitalization is around $77 Billion as on January 20 as given on Coinmarketcap.com.
- BNB’s price in the beginning of the year2021 was below $40 and it made all-time high of $686 in May’21
- Its live price (i.e. at the time of writing this blog) is around $469.11 USD
- The average growth rate of BNB coin is 228.6% as given by Ycharts.com.
- Presently the total BNB coins in circulation is 16,51,16,760.89 BNB coins and the total supply is of 16,51,16,760.89 BNB coins
5. USD Coin (USDC)
- US coin is also a stable coin like Tether that is pegged to U.S. dollar on 1:1 basis.
- US coin is a good investment option for those who wish to invest in less volatile cryptocurrencies.
- The goal of this coin is to create an ecosystem where this coin is used widely across wallets, exchanges, online services, digital applications etc.
- It has a market capitalization of $46 Billion as on January 20 as given by Coinmarketcap.com.
- The total USD coins in circulation is 46,108,990,225 coins and data on its maximum supply limit is not available.
- Its live price (i.e. at the time of writing this blog) is around $1 USD
6. Cardano (ADA)
- Cardano is a proof of stake blockchain platform that aims to promote the innovators, visionaries and changemakers to bring a positive change globally.
- It uses a method that expedites the time taken by transactions and also reduces the energy consumption involved in the process by removing the competitive and problem-solving aspect used for verification of the transaction as used by platforms such as Bitcoin.
- It has a market capitalization of $45 Billion USD as on January 20 as given in Coinmarketcap.com
- Its was price was below $1 USD in the beginning of the year 2021 and it made a all time high of $3.10 USD in Aug’21 i.e. growth of more than 700% during this period.
- Its average growth rate is around 194% as given in ycharts.com.
- Its live price (i.e. at the time of writing this blog) is around $1.36 USD
- The total ADA coins in circulation is around 33,988,299,055 ADA coins and the maximum supply is of 45,000,000,000 ADA coins.
7. Solana (SOL)
- Solana is a public blockchain platform which uses a hybrid model of proof of stake and proof of history blockchain platform which improves efficiency.
- It is also known to be rival of Ethereum because of its superior transaction speed and lower associated costs.
- Solana can handle 50000 transactions per second and is also run smart contracts.
- It has a market capitalization of $43 Billion USD.
- Its price during the beginning of the year was around $4.23 USD which made all time high of $260.35 USD in Nov’21 i.e. a growth of more than 6000% during this time period.
- Its live price (i.e. at the time of writing this blog) is around $137.58 USD
- The total Solana coins in circulation is 31,43,33,697 coins and the data on its maximum supply is not available.
8. XRP (XRP)
- XRP is a native cryptocurrency of RippleNet, created by Ripple labs- a U.S. based technology company.
- Ripple is a blockchain based payment network that is created to facilitate faster and cheaper across different countries between financial institutions.
- It helps in making cross border payments in much faster manner (within 5 seconds) and at a fraction of the cost of traditional methods.
- Its market capitalization is $35 Bn USD as on January 20 as given in Coinmarketcap.com
- Its price in the beginning of the year 2021 was around $0.26 USD and it made a high of $1.96 USD in Apr’21 i.e. growth of more than 600% during this period. However, its all time high is $3.84 that it made in the year 2018.
- Its average growth rate is around 221% as given by ycharts.com.
- Its live price (i.e. at the time of writing this blog) is around $0.7432 USD
- Its circulating quantity is 99,989,813,031 coins and the maximum supply is of 100,000,000,000 coins.
9. Terra (LUNA)
- Terra is a blockchain based protocol that uses the stable coins that are pegged to fiat currencies to provide a stable payment system globally.
- LUNA is the native cryptocurrency of Terra Network and is created by south Korean Terraform Labs.
- It is pegged to key currencies like U.S dollar, South Korean Won, Mongolian tugrik etc. algorithmically.
- Its price in the beginning of the year 2021 was around $0.80 USD which made a all time high of $103 USD in Dec’21 i.e. a growth of more than 12000% during this period.
- The average growth rate of Terra (LUNA) is around 235.8% as per Ycharts.com.
- Its live price (i.e. at the time of writing this blog) is around $81.56 USD
- Its market capitalization is of around $29 Billion USD as on January 20 as given on Coinmarketcap.com
- Its circulating quantity is 35,70,89,069 LUNA coins, and its maximum supply quantity details are not available.
10. Polkadot (DOT)
- Polkadot is open source blockchain platform-based cryptocurrency that uses a decentralized network.
- It is a protocol that connects the unrelated blockchains together for secure data transfer, i.e. it helps in transferring the data across the incompatible networks for example between Bitcoin and Ethereum.
- It is also designed to transfer the scalable data with great speed via usage of many parallel blockchains that take a lot of time.
- Therefore, Polkadot serves two functions one is it acts as a governing network where data transfer takes place securely and the network verifies the transaction by issuing DOT.
- DOT can be bought and sold like any other cryptocurrency over crypto exchanges.
- Polkadot has a market capitalization of around $24 Billion USD.
- Its price in the beginning of the year 2021 was around $15.9 USD and it made all time high of $54.98 USD in November’21 i.e. growth of more than 200% during this period.
- Its live price (i.e. at the time of writing this blog) is around $24.49 USD.
- Its circulating quantity is 98,75,79,315 DOT coins, and its maximum supply quantity details are not available.
We hope we were able to provide you with enough inputs on the top 10 cryptocurrencies, so we wish you the best for your investment decisions.
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Also Read: How to open Cryptocurrency trading account in India with WaxirX
Disclaimer: Trading in cryptocurrencies involves huge risks, as this industry is highly volatile, we request you to kindly consult your financial advisor before making any investment decision, this blog is written with the sole motive of education and information purpose only. We do not promote any entity nor any cryptocurrency in particular so please form your investment decision based on your own personal research.