Top 5 Altcoin Projects Expected to Make Headlines in the 2nd Half of 2022?
It has been a rough ride in the crypto markets for the better half of 2022. January marked the top of the bull run and the onset of the bear market for bitcoin and other digital assets. A lot of panic-sell happened during these times as bad news about bitcoin going to zero fed the internet to its whole.
Cryptocurrencies Could Still be a Viable Investment
Most crypto fanatics lost all hope in cryptocurrencies and liquidated their portfolio for fiat. Was it the right thing to do? The answer to that question depends on the individual. Liquidating a crypto portfolio or any other due to panic is not the most advisable thing to do as far as investing is concerned. It is during tough times that most millionaires are made in any financial market. For this reason, the market’s bearish sentiment should be the least of any investor’s concerns, considering that crypto is here to stay.
Bitcoin’s relation to Altcoins
Bitcoin is the dominant cryptocurrency compared to the rest of the digital assets. Since 2010, the price of Bitcoin has been observed to affect all other cryptocurrencies. When bitcoin is making higher highs, the overall market sentiment of digital assets, including NFTs, is bullish. When bitcoin rallies, the crypto world comes crashing down.
Being in a bear market since January 2022, BTC is starting to show some upside movement by moving from $17,000 to $24,000 in less than four months. If BTC continues this bullish momentum, the rest of the cryptocurrency market will follow suit, including NFTs.
Here are the top 5 altcoins to make you rich before December
BNB
BNB has outsmarted other smart contract altcoins for its second quarter straight, earning second place to Ethereum. The BNB chain network now supports NFTs, DeFi, and GameFi. The chain network has recently recorded the highest number of new users since the launch of BNB by Binance, even during the worst crypto crash in history. At the beginning of the second quarter, BNB smart chain’s NFT volume reached an all-time high making it one of the most used networks in the NFT world.
In this period, the number of new NFT buyers increased exponentially by 716%, while tertiary trading volumes increased by 634%. Binance has also completed the 19th burn of the BNB token. 1.8 million BNBs were burnt and entirely removed from circulation during the burn. These coins are equivalent to almost 750 million dollars.
BNB is also making history as it recently partnered with MasterCard. All these factors make BNB a promising altcoin to look into for the next Crypto bull run.
Avalanche
The boom of NFTs has given rise to new Altcoins such as Avalanche. Avalanche is a popular Ethereum competitor. The altcoin project has gained massive adoption in the NFT space, and as a result, the coin has gained double digits as NFTs minted on its network gain traction in various NFT marketplaces. The Avalanche network is mainly preferred over Ethereum because it facilitates faster transactions at a reduced cost.
The maximum supply of Avax tokens is 720 million tokens, where half of these were generated from the genesis block. Avalanche is a proof of stake protocol that relies on validators that stake AVAX to earn block rewards.
Polygon
Polygon (MATIC) is a project that allows a sidechain or ‘layer two’ type of scaling solution running along the Ethereum Blockchain. Like Avalanche, Matic users enjoy the privilege of faster transactions and cheaper gas fees compared to the market leader, Ethereum. At the end of the first Quarter of 2022, Polygon (MATIC) announced new upcoming features on their official Twitter (@0xPolygon). MATIC projected their new mobile burning abilities and the new, soon-to-be-launched token list service for their users.
XRP
XRP is Ripple’s cryptocurrency that has a maximum supply of 99 billion. XRP is one of the leading cryptocurrencies. Ripple could change the future of banking in the world using RippleNet. The network uses a protocol known as RTXP for transferring value across the globe. The idea of Ripple aims to serve banks all over the world to minimize the heavy transaction fees required to transact money internationally. RTXP also expedites the long, slow, and time-consuming process.
RTXP contains computers known as validators in different parts of the world that share a ledger with transaction information in the blockchain network.Ripple offers enterprises an alternative to the banking system through the internet of value to customize solutions for transferring money worldwide. Unlike most crypto protocols that only support their digital asset, Ripple supports a variety of tokens on the Ripple wallet, making it a lucrative deal for the Crypto-Internet banking system. If Ripple gets massive adoption from worldwide businesses and banks, XRP could skyrocket.
SAND
Currently, there are more than 3 billion gamers on this planet. SAND, among other gaming cryptocurrencies, has been competing to get a piece of this enormous pie. Currently, Sandbox has over 300,000 monthly users.
At the end of June 2021, Sandbox announced a series of initiatives to reduce its carbon footprints. These initiatives include purchasing carbon credits, planting many trees, and integrating with Polygon. In July, Sandbox announced a new partnership with Skybound Entertainment to bring the walking dead into the Metaverse.
In August, Sandbox partnered with Big Fan to bring virtual football into the Metaverse. Sandbox also has a vast collection of NFTs, some of the world’s most widely traded NFTs. Many of these NFTs are purchased using SAND, creating massive demand for the coin. All these factors are potential fuel to skyrocket sand to the moon in the onset of the bull market estimated to begin in this second quarter.
Conclusion
The markets may have shown the worst market crash in Crypto history. Given this market condition, traders and investors need to minimize risk by investing in what they can afford to lose on the potential digital assets listed above. Once the bull market resumes, these projects could skyrocket by more than three-digit percentage returns.
