A Look at the Top 10 Coins in 2022
In the broader world of cryptocurrencies, you can now find altcoins, NFTs, and even stablecoins. They are different from the old Bitcoins (BTC) but not necessarily Bitcoin competitors.
Let us know about the top 10 coins in 2022:
1. Ethereum (ETH)
Ethereum is the biggest altcoin in the market with a USD 200 billion market capitalization of a total of USD 1 trillion of more than 20000 crypto assets available. It works as a distributed computing network with blockchain-related use of decentralized finance and smart contracts.
2. XRP
It is related to the payment company Ripple Labs and can be utilized to simplify exchanges of different currency types with digital tech. It has low transaction fees, but it faces legal challenges due to a dispute on aspects like security and currency.
3. Binance Coin (BNB)
Binance Coin is a utility token that users can use to pay transaction fees and get cheap trades on the Binance exchange. You can also utilize BNB outside the Binance crypto exchange for payment handling, such as booking travel engagements. However, critics say BNB isn’t as decentralized as other altcoins.
4. Solana (SOL)
It is one of the fastest blockchains in the market and was created to power dispersed finance, apps, and smart contracts. Solana runs on an exceptional fusion of proof-of-stake and proof-of-history appliances to route transactions rapidly and securely.
5. Cardano (ADA)
It was an initial user of the proof-of-stake agreement mechanism, speeding up operation time by taking out the economic and energy-demanding difficulty-solving aspect of platforms like Bitcoin. Experts call Cardano a blockchain solution that assures low fees with greater levels of refuge than many of its equivalents.
6. Dogecoin (DOGE)
It started as a joke in 2013 but has evolved into a prominent cryptocurrency. Experts note that it has some significant backing but remains riskier than Bitcoin.
7. Shiba Inu (SHIB)
It was the response to the DOGE joke but still became a crypto option. It’s built on the Ethereum blockchain but is not for investing as a use case. Still, there are SHIB-based non-fungible tokens (NFTs) in the market.
8. Polkadot (DOT)
This altcoin influences the Polkadot network, where programmers can build definite-purpose blockchains as spokes joining the central Polkadot blockchain hub. It has better security and is a leader in creator activity.
9. Avalanche (AVAX)
The cryptocurrency delivers two vital features: fast operation speeds and low transaction fees. It also has substantial money deposited in decentralized finance, called total value locked (TVL). TVL is the full value of crypto resources in a distributed finance (DeFi) protocol, such as staking, loaning, or liquidity pools.
10. Polygon (MATIC)
Polygon is an Ethereum-based ascending platform that lets developers build decentralized apps with low transaction fees.
Our Parting Thoughts
The definition and types of crypto assets have evolved from the early cryptocurrency days. Nowadays, several varieties of coins and tokens exist with use cases that go well beyond a medium of exchange.