Without a doubt, Solana (SOL) made the biggest gains in 2021, going from a mere $1 at the beginning of the year to as high as $200 by the end, making it one of the best altcoins to invest in 2022. With Tether being one of the most stable cryptocurrencies, it is certainly an excellent investment option for investors concerned about the extreme volatility of the crypto markets. Because its value is fixed to the US dollar, Tether experiences lesser fluctuations, thereby making it one of the best alternatives to Bitcoin. The third-largest cryptocurrency by market capitalization, Tether is a stablecoin designed to be pegged to the dollar hence its value always remains at $1. The arrival of ETH 2.0 in 2022, when Ethereum transforms from a proof-of-work (PoW) to a proof-of-stake (PoS) model, is expected to drive up prices further, taking Ethereum well beyond the $10k mark. The rise in the value of Ethereum can largely be attributed to the rise of the DeFi (Decentralized Finance) market and the widespread popularity of NFTs (Non-Fungible Tokens).Īt the time of writing, Ethereum is trading at $3,130.36 per token and has a market cap of more than $370 billion. One of the fastest-growing cryptocurrencies and the second-largest cryptocurrency by market capitalization, Ethereum (ETH) dramatically outperformed Bitcoin in 2021, and experts anticipate this trend to continue into 2022. Let’s take a look at the best altcoins to invest in 2022. Clearly, for those looking for a diversified portfolio, altcoins are the best solution. Top 8 Altcoins to Invest in India in 2022īTC dominance, or the ratio of Bitcoin’s market cap to the rest of the cryptocurrency markets, which was well above 70% at the start of the year, had dropped to almost half at 40% by the end of the year 2021.
Solana, whose price was only $1.837 at the beginning of 2021, was valued at $193.127 on 25 December 2021, having grown by a whopping 10413.2%. No doubt, Bitcoin is the market leader and the largest cryptocurrency by market capitalization, but several altcoins have more use cases and growth potential than Bitcoin.įor example, although the price of Bitcoin increased by 58.02% from $32203.64 on 1 January 2021 to $50888.72 on 25 December 2021, the price of Ethereum, the second-largest crypto by market cap, increased by 423.30% from $774.90 to $4055.12 in the same time period. Their name derives from the fact that they are “alternative” coins to Bitcoin. The term altcoin refers to any cryptocurrency that is not Bitcoin. Given the crypto market’s constant bouts of extreme volatility, it’s always a good idea to diversify your portfolio rather than putting all of your eggs in one basket. While Bitcoin is a high-reward investment with low barriers to entry because of its widespread availability, it is also a high-risk one.
If you’ve just gotten started on your crypto journey, you’re probably tempted to limit yourself to Bitcoin, the most valuable cryptocurrency. The views and opinions expressed within this post belong solely to the author. Note: This blog is written by an external blogger.
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