Bitcoin is the crypto king, but there are over thousands of altcoins ready to take its throne, are you wondering who will be the next big cryptocurrency? Let's talk about it.
Since the release of the original digital coin in 2009, over 5,000 altcoins have been created and put in circulation. Most of them claim to be better than Bitcoin and the rightful heir of the crypto world.
Keep reading this article, and you are going to know what are the best cryptocurrencies with the most potential to become the new investment boom in the next year.
Despite the fact that Bitcoin's price fluctuates greatly — it's generally on the rise – 2021 is a rather mature year for a currency with only a 10-year trading history. The next ten years could be crucial for Bitcoin's development.
There are a few aspects of Bitcoin's ecosystem that investors should pay special attention to. The ecology will most likely expand as regulation adapts to keep up.
1. Crypto is more mainstream-acceptable
We may see increased public acceptance of cryptocurrencies over the next decade. Whatever else Bitcoin has accomplished in its ten years, it has compelled many huge multinational corporations to explore establishing international digital money.
2. First Crypto ETF is Approval
On this front, there has already been a huge breakthrough, with the first Bitcoin ETF ( BITO ) just debuting on the New York Stock Exchange. The SEC has considered ETF clearance numerous times in recent years, but BITO is the first to receive permission.
3. Adoption of digital currencies by central banks
According to a report and poll conducted by the Bank for International Settlements, 80% of central banks around the world are investigating digital currency in some form. Some countries such as Salvador are betting on this possibility and making cryptocurrencies legal tender.
What is the Next big cryptocurrency to invest in? What crypto are going to boom in 2022?
Let's take a look at the most valuable cryptocurrencies in the market and the ones with the most potential to become a new crypto unicorn and worthy of getting your attention.
■ ETH - Ethereum
■ XRP - Ripple
■ SOL - Solana
■ ADA – Cardano
■ DOT - Polkadot
■ BNB - Binance Coin
■ LINK - Chainlink
■ Polygon - MATIC
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Step1: Open an account on Mitrade
Step2: Go long ( buy) or go short ( sell ) on Bitcoin
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Step4: Place this trade
1. ETH - Trade Ethereum on Mitrade
Ether, the world’s second-largest cryptocurrency, launched in 2015. Ethereum is a decentralized network that provides optimized structures for DApps and smart contracts.
Ethereum has more technical advantages than Bitcoin and other cryptocurrencies. Because of its ability to complete transactions in seconds (as opposed to minutes for bitcoin), it may one day become a standard in payment processing.
Ethereum is not a safe-haven asset; rather, it is a "risk" asset that rises when the market conditions are favorable.
Ethereum's growth have been exceeding Bitcoin's in recent years, and it is expected to continue to grow in 2022.
According to Yahoo, Ethereum is expected to replace Bitcoin in 2022.
2. XRP - Trade Ripple on Mitrade
XRP is a utility token that represents a blockchain platform that facilitates cross-border, regional, and international transfers of fiat currencies with more efficiency.
Launched in 2012, XRP has been known as the establishment cryptocurrency as banks and financial institutions back the coin since its beginning.
Ripple has a circulating supply of 43 billion coins with a market capitalization of 12.7 billion dollars. Some experts believe it could be the next cryptocurrency to invest in as it has a broader acceptance within banks.
3. SOL - Trade Solana on Mitrade
Many projects have developed in an attempt to compete with Ethereum, the most widely used blockchain network. Solana is among them.
Solana (SOL) is one of the newest Ethereum alternatives, with a transaction rate of 50,000 transactions per second. The network's native token, SOL, can be used as a store of value and a payment medium. To earn more SOL, users can bet their tokens.
SOL coin is one of the biggest crypto gainers in 2021. By now, if you had invested $1,000 in SOL at the start of 2021, you would have amassed a profit of $79,986.7.
But though Solana has been fast-growing lately, you should understand the risks before investing. You're counting on Solana's technology to help it leapfrog Ethereum.
4. ADA – Trade Cardano on Mitrade
Cardano, a little later in the crypto space, Caldano is known for its early adoption of proof-of-stake verification. This approach speeds up transaction times and reduces energy use and environmental impact.
Caldano also operates like Ether to enable smart contracts and decentralized applications powered by its native token, ADA. But with a faster and less expensive network than Ether.
The other most important factor contributing to Caldano's growth is its stability. Caldano has quickly stabilized, becoming the sixth most traded cryptocurrency
5. DOT - Trade Polkadot on Mitrade
Polkadot is a unique cryptocurrency if you wish to invest in something different.
The majority of blockchains are self-contained. Polkadot enables blockchains to communicate without fear of being hacked.
Polkadot tries to bring them together by establishing a cryptocurrency network that connects the many blockchains and allows them to collaborate.
Since Polkadot's inception in 2020, this has resulted in significant growth. Its price increased by almost 1,300% from $2.93 to $38.61 between September 2020 and November 30th, 2021.
6. BNB - Binance Coin
Launched on July 21, 2017, the Binance Coin is a utility token that can be used to pay commissions for transactions on the Binance exchange and with a discount. It has a supply of 155.5 million of BNB circulating with a market cap of 3 billion dollars.
As a utility token, its primary focus is to be a method of payment in the Binance network; however, it can also be traded by other cryptocurrencies. Remember that Binance only accepts transactions with cryptocurrency and none with fiat currency. So, BNB was created to facilitate that transition.
7. LINK - Chainlink
With over 350 million of LINKs circulating with a worth of 911 million dollars as market capitalization, Chainlink is a decentralized Oracle service focus on the connection between the real world and smart contracts.
Chainlink builds bridges between blockchain networks and applications, payment services, and other transactions as it feeds smart contracts with information.
8. Polygon - MATIC
Matic is a token on the Polygon blockchain and is an ERC20 format token. Polygon aims to build Ethereum-compatible scaling solutions by providing a framework that will help create a more vibrant Layer 2 ecosystem for Ethereum. Users who have used the Polygon must have a deep understanding: compared to Ethereum, its transaction speed is amazing and the cost is extremely low.
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Let's check some aspects you should take into account when identifying the next upcoming crypto boom.
● Technology behind
As mentioned before, a cryptocurrency doesn't have value by itself but because it represents a technology. Bitcoin represents the whole blockchain and crypto industry, but Ether represents the Ethereum Network in the same way XRP represents the Ripple and payments structure.
Is it a revolutionary technology that improves considerably traditional processes? Does it offer an improvement in people's quality of life?
● What it represents
All new technology represents a change, so, think about the possible change it can produce in society. Is it a big or small revolution in a sector? Think about what it will become if everything goes as planned, but also how it would be if something goes wrong.
What industries will affect these changes, how people would react after discovering the new technology, and how it will optimize processes. Do you see a significant difference?
● Potential adoption
Specific cryptocurrencies are more ready for massive adoption than others. Why? Because there are factors that can accelerate or cause a slowdown on its approval. For example, think about Ripple and how banks and financial institutions are adopting it because it is an excellent way to make transfers with optimization of time and fees.
Now think about central banks and possible adoptions after several officials and lawmakers are moving towards the crypto industry.
Another good sample is Ethereum. We are living in the age of DApps, and Ethereum is well-positioned in that field. As the Ethereum platform works on several industries, think about all the potential implementations of that network.
Price is fundamental as an average investor wouldn't be able to buy a very expensive token. So, consider how much are you willing to invest but also how many pieces you can buy with your funds.
● Supply limits
Check if the coin has a supply limit. In other words, if there is a maximum number of coins allowed to be created. It is essential because once the roof has been reached, prices would go up naturally as the offer will remain the same, but if the technology is successful, the demand will increase.
The number of transactions in that given cryptocurrency will show you how well liquid is the market and how much interest is raising the token among investors. Cryptos with a vigorous level of volume is always better than others with nobody trading it.
Knowledge is power, and cryptocurrencies are not the exception. A well-informed investor is always two and three steps ahead of his peers. That's why your trading career needs to have a pool of sources that provide you with useful and critical information.
In your pursuit of the next big cryptocurrency to explode, we have identified some places you may want to have under your radar.
MIT Technology Review: This magazine covers all the latest technological developments and brings well-researched opinions about possible implementations and effects in the years ahead. Read it as a way to keep you on the vanguard of "important new technologies that will affect your organization, your career, your life."
Reddit - r/Cryptocurrencies: This forum covers all topics about cryptocurrencies and offers different points of view regarding the market, trading, regulations, and any tip of information you may find interesting.
CoinTelegraph: One of the essential crypto-related websites. It doesn't only offer news but also opinion on that news. Bookmark it as a source of news.
Walletinvestor: From early 2018 the site provides forecasts for more than 50,000 stocks, several thousand forex pairs, more than 10,000 funds, commodities and cryptocurrencies.
There is no denying that bitcoin is the most valuable investment in the past decade. We've only just begun our search for the next big cryptocurrency with top gaining other than bitcoin.
Which cryptocurrency will it be: Ethereum, BNB, or XRP? These coins have a long history as digital assets and are the top traded cryptocurrencies.
Aside from that, you might look into the new cryptos with fast-growing like ADA, SOL, and DOT.
However, be careful of the numerous cryptocurrency scams that exist in the market, all of which are solely interested in your money.
Before you spend your money on something that claims to be "the next breaking and revolutionary dream," pay attention and do your homework.
We're in the midst of a technological revolution that hasn't happened in millennia. Everything is changing, and opportunities are right in front of you, but you must be prepared to take advantage of them.
Identify it, conduct study, take action and benefit from it.
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
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