Top Five Alt-Coins Set To Explode In 2022

about top5 altcoins

Abhinav Kabra

3 months ago|8 min read

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Top Five altcoins set to explode in 2022 in which why you have to spend?

Let me first of all start with introduction  about all five altcoins one by one as well as why should invest in these below altcoins.

 

1)What is Solana (SOL)?

Solana is a public blockchain platform developed by Anatoly Yakovenko through Solana Labs & Solana Foundation in April 2019 which is an open source model.

 

In my view, one of the strongest altcoins in 2021 that can be expected to see steady growth in 2022 is Solana. I mentioned Solana among the gainers, and I believe it to be a promising asset.

It's market cap is about 62,607,037,358 dollar.

 It is written in Rust.It also runs smart contracts like ethereum.It is built on a Proof-of-History (PoH) consensus mechanism that allows the network to be more efficient.While the standard relies on the sequential generation of blockchain blocks that require verification across the network, PoH allows validators to calculate the state of the network from the ledger itself.The Solana protocol can therefore rely on its own internal clock and maintain a throughput of over 50,000 transactions per second.This is not a brand new coin but it has seen astronomical growth in the past few months.In part, this was because of several major dApps operating on the Solana Network within the areas of DeFi, e-commerce, non-fungible tokens (NFTs) and gaming.Over $1 billion per 24 hours is average volume.It is included in the top 10 currencies on the basis of daily volume.It hit an all-time high of $260.06 earlier in November and is now trading at $215.54.

 

Why should we buy Salona or is it is ethereum killer?

 

Let's find out

 

Ist reason- As one of the potential “Ethereum killer” altcoin investors, Solana’s high-powered platform has shown impressive potential to drive innovation in a number of ways.One such focal point for investors is the ease at which consumers can shop online using Solana.In fact, it is a cryptocurrency with some intriguing real-world use cases, unlike other large-cap crypto tokens.However, one of the most talked about use cases Solana has been running of of late is the non-fungible token (NFT) marketplace.Through Solonart, an NFT marketplace on the Solana network, NFT investors have the ability to buy and sell popular NFTs.Reports have indicated that Solana is rapidly gaining market share in the NFT world.One of the drivers of interest in Solana and Solanart has recently been its offering of a collection of 10,000 "easiest-minded" ape images. This NFT collection sold out within eight minutes of launch and did little in the way of disruption for NFT investors.Those buying NFTs on other blockchains such as Ethereum have noted congestion issues as well as very high transaction fees.As we just mentioned, Solana's low-fee, high-speed network has proven to be beneficial for NFT investors looking to get hold of a popular piece of digital artwork.Those who are excited about the development of the NFT sector certainly have reason to consider Solana in this context.

 

IInd reason-

However, Solana's blockchain technology is truly unique. The network combines a proof-of-stake consensus algorithm with the cryptocurrency's own proof-of-history system.

This means that transactions are processed in order, operating as a first-in, first-out system.This speeds up transaction times for the entire network, while keeping fees very low (reportedly less than $0.01 per transaction).In a traditional proof-of-work model, miners process high-value transactions first.However, with this type of model, transactions are processed in sequence.This has led users on the network to see quick transaction speeds, regardless of size or relative value.It has also allowed Solana to process 50,000 transactions per second.





 

2)What is Waves (WAVES)?

Waves is a proof-of-stake based cryptocurrency founded by Sascha Ivanow (CEO) and its developer is Sascha Ivanow, Tatiana Tsiguleva, Igor Pavlov, Artem Kalikhow in 2016.Waves is a platform that can be used to create dApps, smart contracts and new tokens.Tokens are used as rewards and incentives for mining, payments and voting.WAVES also makes WAVES interoperable with the Ethereum network since it is an ERC-20 token.

 

With a market cap of over $2.3 billion, the WAVES token is firmly placed in the top-100 of crypto coins.Major projects have been built on the platform including cross-chain network Gravity, DeFi platform Neutrino and crypto exchange Waves DEX.

 

The price of the coin reached an all-time high of $41.33 in May 2021.It is trading at around $26 today, which could mean the price could move higher to this year's high later in 2022.Therefore, I believe it is worth keeping an eye on.

 

3)What is Terra (LUNA)?

Terra is developed by South Korea-based TerraForm Labs, which was founded in 2018 by Do Kwon and Daniel Shin.

 

Another notable crypto is LUNA, the native currency of the Terra protocol.This base-layer protocol uses stablecoins for popular fiat rates, for example, TeraUSD.The LUNA acts as a reserve asset and helps maintain the price of these stablecoins.

 

In October, Terra upgraded Columbus-5, which enabled the Inter-Blockchain Communication (IBC) standard, allowing users to easily transfer Luna, TerraUSD and other assets from Terra, making it interoperable with other networks.

 

Immediately after this update, the price of LUNA token hit a record high of $49.43.

The following month, the current all-time high is settled at $54.77.Right now the token is trading at $45.51 and I expect positive growth during the next year.

 

Why should you have to invest in Terra (LUNA)?

 

LUNA, Terra's native token, allows its holders to pay network fees, stake in the TDPS (Tendermint Delegated Proof of Stake) consensus mechanism, participate in governance, and peg stablecoins.

 Terra aspires to be the leading e-commerce stablecoin payment and DeFi (decentralized finance) service provider globally, with its own unique proposition to contribute to the acceleration of blockchain in Asian and Korean markets, while focusing on global usage.

  Terra's cost-effective model, quick settlement, along with low fees for product purchases, encourages consumers and merchants to use the platform.

 

4)What is yearn.finance (YFI)?

Yearn.Finance was launched in 2020 by independent developer Andre Cronje.

 

It is a set of protocols on the Ethereum network.This platform provides services such as showing interest rate APY, identifying the highest rates for lending, assembling investment strategies in DeFi and bundling cost and labor saving trades.

 

The native token of the platform is yearn.finance (YFI) also known as yEarn.

It is used as yUSDC, yUSDT and yDAI to execute user transactions.With the help of YFI tokens, users can also earn lending and trading fees.

 

YFI reached an all-time high of $93,435 in May and is now doing business  at $28,813.44 .If there is no unexpected surge in the cryptocurrency markets, I believe that YFI is going to be able to confirm its strong position among the investor community over the course of the next year.

 

Top 2 reason due to which you investment in yearn.finance (YFI)-

 

A)Yearn Finance has multiple  earning sources- One of the benefits of investing in yEarn is that it offers investors multiple ways to earn from crypto holdings.Few ways in which investors can earn on Yearn.finance are:-

a)yVaults-yVault is a way to build and use the best yield farming bots in the market.

The profits these bots make depends on the amount that one has put into the pool.At the moment, Yearn has nine yVaults, namely: USDT, YFI, DAI, crvBTC, crvBUSD, TUSD, YTUSD, YUSDT. YDAI, ETH/WETH, and YUSDC.

 

One of the most important opportunities offered by yVaults to investors is the opportunity to continuously buy and hold.

This means that anyone can use their profits to buy additional tokens and build their portfolio.

 

b)yEarn- yEarn is another highly innovative product from Yearn Finance that allows investors to increase their crypto holdings.yEarn is basically a lending aggregator.yEarn can give the highest possible return to the investors as it can easily move the coins within the coins listed on the lending platform.For example, if an investor deposits USDT in USDT, yEarn wants the highest return on popular lending protocols such as AAVE and Compound.If the expected return on one protocol increases relative to the rest, it moves the token there.The result is that the investor consistently gets a higher return on capital.

 

c)Zap- ZAPs are designed to allow investors to move assets between yield-bearing pools.Some of the tokens that one can Zap into include BUSD, TUSD, DAI, USDT, and DAI.The main advantage of ZAP is that it allows the investor to maximize their returns while cutting down on risks.

 

d)yInsure-It is basically a smart contract cover and is underwritten by Nexus Mutual.The final function of yInsure, and basically the process of claiming.

 

e)YTrade-It is a platform on year finance that allows investors to borrow for trading purposes.The platform works by lending USDT and other stable coins such as BUSD, USDC, and DAI.Traders can borrow up to 1000X on the collateral they provide.It is a platform that has made arbitrage trading on stable coins easy for a lot of investors.

 

B)Yearn. Finance on expansion path- Yearn.Finance is a unique DeFi project in that it joins other projects as it seeks to dominate decentralized finance.Some of the projects that Yearn has worked on since its launch in 2020 are:

 

a)Pickle- The merger of Yearn and Pickle is quite an interesting one in which the meeting saw the Pickle and yEarn.Finance teams work together to secure the stage.

 

b)Cream- Due to the The merger of Cream and Yearn Finance, Anyone using the year finance protocol can double the amount he earns from cultivating the produce.

 

c)Cover-The Yearn.Finance team announced this was the next merger after Cream which provides security to high risk takers in DeFi .

 

d)Acropolis-The merger with Acropolis gave yEarn a platform to reach institutional investors.This is a big deal as institutional players are a vital component of DeFi's long-term growth.

 

e)Sushiswap-This is a big deal for the year as it helped deepen its market reach in DeFi, a key aspect of its long-term growth since it is an automated market maker and has hundreds of millions of dollars in daily volume.Since it is an automated market maker and has hundreds of millions of dollars in daily volume. 

 

5)What is Decentraland?

Decentraland is originally created by Argentinian Ari Melich and Esteban Ordano in 2015.Decentraland could be a 3D virtual reality platform built on the Ethereum network.It makes it possible for creators to monetize their content and applications, along with the creation of applications, games, and dynamic 3D visuals.

 

The platform uses MANA and LAND tokens. MANA is an ERC-20 token used to acquire non-fungible ERC-721 LAND tokens.LAND tokens are basically free NFT slots that can be used to build a portion of the different districts in the Metaverse.MANA tokens can also be used to purchase avatars, wearables and other digital products on the Decentraland exchange, In addition to LAND acquisitions.

 

The MANA token reached an all-time high of $4.69 in October. Right now it is trading around $4.86 and is positioned for another rally as the Decentraland Metaverse turns bigger

 

 

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Abhinav Kabra

Hi, I love to do writing like technical , article, blog,etc.

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