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Top 5 cryptocurrencies you should invest in this 2022

There are over 16,900 digital tokens in circulation as of January 2022 according to CoinMarketCap. With thousands of digital assets in circulation, choosing the best cryptocurrency to invest in can be quite challenging. Today, Casino Days India will explore the top cryptocurrencies this 2022 to help you decide which digital assets to invest in. Take a look at them by reading below!

Top 5 cryptocurrencies in 2022

Since crypto investors and traders are looking for the best asset with the hope of getting huge returns, it is vital to know about the tokens’ backgrounds before investing. Check out all the important details about the top cryptocurrencies in 2022 below:

  1. Ethereum

Ethereum was founded by 8 people led by the author of its whitepaper, Vitalik Buterin in 2015. It is one of the most favourite blockchains of crypto users since applications can be executed on the network. 

The goal of Ethereum is to become a global platform for decentralized applications (dApps). DApps allows users to write and run software that is resistant to fraud, censorship and downtime through the use of smart contracts.

Ethereum is the first platform to explore the concept of a blockchain smart contract. With smart contracts, computer programs can execute actions automatically, reducing the need for intermediaries between parties and increasing transaction efficiency.

Ether (ETC) is Ethereum’s native token that currently ranks 2nd in CoinMarketCap with a market cap of $388 billion. An ETC costs $3,258.18 as of January 17, 2021. It does not have a maximum supply but its current circulating supply is at 119 million ETH. Its all-time high was recorded on November 16, 2021, at $4,891.70. 

  1. Terra

Terra was launched in 2019 by its founders Daniel Shin and Do Kwon. This crypto project has the goal of making cryptocurrency and blockchain more mainstream by improving its stability and usability. Its blockchain uses a proof-of-stake consensus in which its native token holders are rewarded by staking their tokens.

The algorithm of Terra’s one-to-one peg automatically adjusts stablecoin supply based on its demand. This can be done by letting the holders of its native token, LUNA, swap the coin at profitable exchange rates to either expand or contract the supply and match the demand.

Ranking at number 9 in CoinMarketCap, LUNA’s market cap is at $29 billion with a current circulating supply of 358 million LUNA. Its current price as of January 17, 2022, is at $83.47 per LUNA, with an all-time high recorded on December 27, 2021, at $103.33.

  1. Binance Coin

Binance is the biggest crypto exchange in the world that also has various products and services powered by blockchain technology. Some of these projects are the Binance Chain, Binance Smart Chain, Binance Academy and Trust Wallet which are mostly run using Binance Coin. 

Launched in 2017, Binance Coin (BNB) has an initial maximum supply of 200 million BNB with over 166 million currently circulating as of January 17, 2022. As per CoinMarketCap, BNB ranks at number 3 with a market cap of $81 billion. Its current price is at $486.55 with an all-time high of $690.93 recorded on May 10, 2021.

On July 18, 2021, Binance made the most recent burning of its coin supply worth $390 million in BNB. This is done by reducing its supply by half and increasing its scarcity.

  1. Polkadot 

Founded by Dr Gavin Wood, Peter Czaban and Robert Habermeier, Polkadot’s goal is to be an open-source and user-friendly decentralized web through Web3. Web3 is a decentralized internet of blockchains that allows the network to autonomously update its own codebase as per the will of its token holder community.

As per CoinMarketCap, Polkadot ranks at number 10 with a 24-hour trading volume of $1.4 billion DOTs as of January 17, 2022. It has a circulating supply of 987 million with a maximum supply of 1 billion DOTs. The current price of DOT is $26.76 with an all-time high of $55.00 recorded on November 4, 2021.

  1. Bitcoin

Bitcoin was created in 2019 by someone or a team of developers under the pseudonym of Satoshi Nakamoto. The goal of the project is to allow online payments to be sent directly to the receiver without the help of a middle man or financial institution. 

BTC is the ticker symbol of Bitcoin’s native token. This coin runs on the Bitcoin blockchain using a process called Proof-of-Work where miners need to solve a crypto puzzle in exchange for mining rewards. It has a maximum supply of 21 million BTC and currently has a circulating supply of more than 18 million BTC, leaving approximately 3 million BTC for minting.

According to CoinMarketCap, you can buy 1 BTC for $42,826.07 as of January 17, 2022. It ranks as the number 1 cryptocurrency with over $810 billion market cap. Its all-time high was recorded on November 10, 2021, at $68,789.63.

Invest in worthy cryptocurrencies only

With the increasing number of crypto assets that enter the market every day, it becomes more and more challenging to find the best token to invest in. If you are having a hard time deciding which crypto to choose, consider various core metrics such as the concept of the asset, the coin’s market performance and the team behind the project.

Assess the goal of the project and make sure to choose the cryptocurrencies that have a unique, strong and viable concept. The market performance of the coin also tells a lot about the ability and potential success of the project in the long run. Lastly, the team behind the token is an important consideration too since it will allow you to assess how successful it will be in the hands of its founders. 

Provided above are all the things you need to know about the top cryptocurrencies this 2022. All you have to do is to analyse which cryptocurrency is the right suit for you based on their goal, market performance and the team behind the project.

Learn more about cryptocurrency by reading related articles here at Casino Days India!

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