Cryptocurrencies are on the rise. But what are the right ones to pick? Which ones will give you the best returns? We have you covered on the top three cryptocurrencies to look out for in 2022.
Kadena (CRYPTO: KDA) had a fantastic 2021 and will likely have a great 2022. The coin is part of an exclusive group of cryptocurrencies that gained more than 5,000% in 2021. The digital coin ended the year up well over 8,000%.
Like Bitcoin (CRYPTO: BTC), Kadena’s blockchain uses a proof-of-work (PoW) protocol. Though most PoW blockchains aren’t scalable, Kadena’s braided multi-chain architecture has outstanding scalability — Kadena can presently process 480,000 transactions per second. In comparison, Bitcoin can only process only about seven transactions per second. Kadena’s throughput has no limit because more chains are added to the network.
Kadena’s unbelievably low costs attract developers. Thus, businesses don’t have to charge transaction fees by using Kadena’s crypto gas station for customers. Consumers can pay less nominal transaction fees.
However, Kadena ranks No. 63 by market cap. But it has the prospect to go higher in the ranking this year.
Avalanche’s (CRYPTO: AVAX) ecosystem is evolving quickly because of its powerful blockchain architecture. Avalanche rose more than 3,000% higher and ranks No. 11 by market cap.
Their blockchain is extremely fast — it can process more than 4,500 transactions per second. It is also the most rapid platform that supports smart contracts.
In fact, 160 projects are in the Avalanche ecosystem already. Avalanche generates even more revenue from decentralized apps (dApps) than Solana.
Avalanche reached a considerable milestone recently: Deloitte, a large accounting and consulting firm, is building a cloud-based disaster recovery platform on this blockchain. This endorsement takes Avalanche to a new level.
All eyes are on the significant upgrade Ethereum will get this year. In 2021, Ethereum (CRYPTO: ETH) rose by 400%. Even though you can’t compare that with the massive gains of Kadena and Avalanche, Ethereum delivered a return of more than 5X in the previous year, even while facing some challenges — this slower network can process only about 14 transactions per second. It also required high transaction fees; thus, many developers changed to other blockchains.
However, Ethereum will launch Ethereum 2.0 upgrade that will fix issues like high gas fees, scalability, and congestion in the network. It’ll also be able to process 100,000 transactions per second. And transaction fees will decrease as well.
Currently, Ethereum’s market cap is about $445 billion, second to Bitcoin. There are chances that it might reach the top spot this year. It’s possible. Even if it doesn’t get the top spot, it will surely soar and won’t be there at the same level.
While these are the top three cryptocurrencies we are expecting to soar in 2022, the crypto world is often unpredictable and new coins will always have the potential to disrupt the market. While we’re on this topic, here are steps to keep your crypto coins safe in wallets and everything you need to know about another revolutionary coin: Dogecoin.