5 Cryptocurrencies That Will Soar in 2022

 


It’s going to be a challenge for cryptocurrency values in 2022 after a year like 2021.

Bitcoin and other digital currencies have witnessed some of the most dramatic rises and fall in the history of the asset class; now, the year seems to be ending on a high note.

However, there are a few issues that may arise in the future.

In 2022, what will be the next big cryptos to rise to prominence?

The stock market has been rattled by the Federal Reserve’s decision to hold a meeting on Wednesday.

As a result of the entity’s plans to dramatically reduce its emergency expenditure, investors will become more cautious with their investments.

Inflation is also a cause for worry as it continues to climb.

However, this bearishness is exacerbated by the Federal Reserve’s promise to raise interest rates three times in 2022.

1. Flux (FLUX)

Although Flux is the smallest cryptocurrency on our list, its network should not be overlooked.

Flux is set to become one of the most popular cryptos shortly as the Web 3.0 phenomenon becomes more ubiquitous.

With its claim to be “Amazon (AMZN) Online Services for blockchain,” it is capable of taking on any web service titan.

While AWS provides software-as-a-service (SaaS), Flux provides blockchain-as-a-service to compete with AWS (BaaS).

From a performance standpoint, the changes are negligible.

While cloud computing and distributed public ledgers are complementary, BaaS technologies enable customers to leverage the advantages of both to their benefit.

Using Flux’s FluxOS, you can operate oracles, host servers, and store data, no matter how secret, much as AWS does for the vast majority of the internet.

In the end, however, it promises to be a trustworthy source of information.

To keep the network operating, FluxNodes may be used.

Through the geographic identification of FluxNode operators throughout the globe, users may be linked to the quickest nodes possible while using BaaS services provided by nodes.

Even if you don’t use the internet, you’ve heard about the recent AWS failures. AWS has had two outages in December.

Many of the most popular social networking and e-commerce sites, as well as online gaming servers, were unavailable during these disruptions.

When Flux is widely adopted, these outages will be a thing of the past, due to a large number of FluxNode operators.

2. Ripple (XRP)

Throughout 2021, Ripple was dealt a poor hand. Trading of Ripple on US-based exchanges has been blocked by a lawsuit brought by the Securities and Exchange Commission.

Without this barrier, the litigation scares away prospective investors who don’t want to invest in a firm that is in trouble.

However, some people are quite enthusiastic about Ripple because they believe it will be the future of international money transfers.

Ripple, on the other hand, maybe in a position to make up for the lost time when this litigation is over in 2022.

In the blink of an eye, Ripple users may conduct international money transfers by converting fiat to XRP, transferring that XRP, and having the receiver convert it into the fiat of their choosing.

Using Ripple, users can perform international money transactions.

The network’s XRP token will play a significant role in dethroning the current world of international wire transactions.

As a result of Ripple’s legal battles, the sector has lost a large portion of its spectacular gains this year.

81 cents is a significant increase from the 22 cents it started the year with.

However, would XRP have been able to achieve profits of 100 percent or perhaps 1,000 percent?

We’ll never know for sure.

However, Ripple continues to keep investors informed, even organizing a conference last month. And now, it hopes to bring the SEC complaint to an end.

The SEC’s deliberative process privilege has given the network the upper hand, as the court required the SEC to produce a letter explaining the material it retains secret (DPP).

However, if it cannot, Ripple may be able to walk out of the courts triumphant sooner rather than later, which may bring a price explosion with it.

3. Solana (SOL)

Solana will be a major winner in 2021.

In early January, when the SOL currency was trading at $1.40, individuals who invested in now sitting on a 13,000 percent return at $183.10.

As a result of a variety of factors, such as volatile market movements or a successful excursion into non-fungible tokens, this boom has occurred (NFTs).

Rather, Solana’s position to challenge Ethereum (ETH) as the world’s leading blockchain network is the driving force behind this open-source DApp playground.

The scalability of Solana is its greatest advantage.

There is little doubt that the number of data transactions on blockchains will increase as the technology becomes more widely used.

Certain networks can just handle higher transaction volumes better than others.

One such network is Solana’s, and it is taking advantage of this rising popularity.

What about Ethereum’s recent increase in gas fees? For a simple trade, gas expenses on Ethereum climbed as high as $50 earlier this year.

Ethereum users are becoming more frustrated by the 2,300% increase in fees, leading some to migrate to the Solana network.

As many as 50,000 transactions per second are possible using Solana, which claims rates of less than one penny for these transactions.

The Merge update in Ethereum is aimed at increasing scalability, however, this is still a long way off.

Until at least the summer of 2022, the network will not be making a major upgrade to its proof-of-stake system.

Meanwhile, Solana continues to grow in both size and market value.

After 500,000 new members joined the network in January, SOL’s market value has surpassed $100 billion.

4. Polygon (MATIC)

Polygon is a network designed to keep the blockchain business running smoothly.

Scalability concerns have arisen in the scalability game Solana as well as other huge networks that are adopting this new technology, such as the proof-of-work Ethereum network.

Layer-2 scaling is Polygon’s attempt to avoid future bottlenecks.

The Ethereum network is the primary focus of Polygon’s design.

A layer on top of Ethereum is how it does this.

Polygon allows users to move their Ethereum transactions to the Polygon chain.

Traffic on the main network is reduced as a result of using this service.

Polygon can also provide extremely reduced transaction costs to its consumers as a result of this.

Layer-2 solutions allow users to transfer transactional data across chains in a variety of ways.

Polygon has ten distinct tools for you to use to do this.

Polygon Zero, a zero-knowledge roll-up technique, was recently introduced to the network, making it easy to transfer data across networks with little energy consumption.

5. Decentraland (MANA)

If you think about it, the metaverse is just a virtual place where people can do a lot of things they can do in real life play games, hang out with friends, watch live music, and so on.

Then then, it’s a field that is backed by both the blockchain industry as well as Big Tech.

If you look at the Facebook makeover to Meta Platforms (FB) as evidence, you can be certain that the sector is here to stay.

The company’s market value is approaching $1 trillion, and its history has produced movies about its origins.

In light of this, the MANA token from Decentraland is a cryptocurrency to keep an eye on in the new year.

Even though the metaverse has a lot of Silicon Valley support, many people wish to see it decentralized.

Rather than Meta becoming involved in virtual reality, they want it to be run by and for the people. Investors in Decentraland are leading the charge.

Anyone is welcome to join Decentraland’s sandbox world, which is brimming with activities, on a blockchain-based metaverse.

It is possible to acquire a piece of land, develop it, and invite one’s friends over to spend time in the space.

If they choose, they may go online and play games, or they can go shopping in the virtual world. As long as they’re at home, they can do all of these things.

There’s also a lot of support for MANA from organizations like Sotheby’s and several artists who played at the network’s inaugural music event.

As a Wrap-Up

As a result, if investors want their cryptocurrency investments to continue to be winners in the next year, they need to be more discriminating.

A year from now we’re going to need something better than arbitrage tokens, stores of value, and meme currencies.

These currencies and tokens are going to be able to maintain their heads above water and then some because of their use and rising tech trends.