Although the cryptocurrency market as a whole experienced several major declines in 2022, a new annual report shows that certain crypto assets fared better than others, especially in terms of monthly returns.
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10 crypto with the best performances in 2022
Here’s a compiled list of the top-performing cryptocurrencies for 2022:
1. Binance Coin
Binance Coin, introduced by the largest cryptocurrency exchange in the world, has evolved into a platform where users can trade, process payments, and even book travel.
Another consideration is the possibility of profit from price appreciation over time, which could make purchasing it a wise investment.
2. Cardano
To transfer and receive digital currency, users can do so on Cardano, which uses its own token, ADA. Charles Hopkinson, who also helped found Ethereum, developed Cardano, which has been called the “Ethereum of Japan” due to the high concentration of Japanese investors in its initial coin offerings (ICOs).
Cardano is managed by a team of researchers and scholars from around the world who have expertise in blockchain technology. Cardano is one cryptocurrency whose value has increased dramatically. The year 2021 was similar. Cardano’s value increases due to its efficiency in reducing costs associated with sending and receiving payments.
3. Polkadot
As a unique proof-of-stake cryptocurrency, its main focus is on facilitating communication between different ledgers. Its protocol also facilitates communication between permissioned and permissionless blockchains and oracles. As a result, it paves the way for systems to coexist peacefully under the same roof.
Its relay chain also facilitates the interoperability of various networks, allowing parachains to run in parallel with the main blockchain. Developers can utilize the chain shared stability without generating their own measures’ when using Polkadot to build their blockchain.
Polkadot was developed in 2020 by Gavin Wood, one of Ethereum’s original developers. Its value in the stock market is around 53.23 billion dollars. The 2022 best performer among cryptocurrencies is Polkadot.
4. Ripple’s XRP
At the year’s end, Ripple gained widespread attention. Ripple is a centralized transaction network used by banks for money transfers, so while it competes with bitcoin, its use case is different.
The receiving party receives the original currency and converts it back into XRP tokens on the Ripple network. The Ripple management team says that XRP is a more secure and quicker alternative to bitcoin and other cryptocurrencies.
Ripple’s XRP has become well-known around the world due to its versatility as a medium of exchange for fiat currencies and major cryptocurrencies.
5. Avalanche
The time and effort savings offered by blockchain technology are appealing. It may take a few days for a beneficiary to see the benefit of a transaction processed through more traditional channels like banks.
By bringing together three separate networks, blockchain projects like Avalanche have considerably sped up that procedure.
6. Tether
Tether, one of the safest cryptocurrencies, has openly stated its ambition to become the favorite asset of risk-averse traders.
Given the volatility and uncertainty of the cryptocurrency market, investors favor Tether due to the belief that its value is more stable than that of competing cryptocurrencies.
7. Shiba Inu
Shiba Inu is an activist and participant in cryptocurrency that leverages the robust infrastructure and advanced technologies of the Ethereum ecosystem.
Growth of this cryptocurrency has been spectacular over the past year, demonstrating its great future potential.
8. Solana
Solana, a cryptocurrency that combines proof-of-stake and proof-history mechanisms, has generated enormous returns for its investors. The cryptocurrency has shown its superiority over rivals and revealed its investment value in three key areas: decentralized finance, decentralized applications, and smart contracts.
9. Battle Infinity
Battle Infinity is a fantasy sports game based on NFTs that can be played across six different platforms. The Battle Swap is where the platform’s native token, IBAT, can be purchased. This is the game’s decentralized currency exchange, wherein in-game rewards can be traded for other game currencies.
10. Tron (TRX)
Tron was originally conceived as a means to bypass established Big Tech middlemen in order to compensate content producers directly. After this, the project shifted into a P2P content-sharing network and eventually bought BitTorrent, the largest P2P file-sharing system in the world. Afterwards, BitTorrent created its own Tron token (BTT). Since its inception in 2017, it has been nothing but a roller coaster ride, and 2022 hasn’t been an exception.
After the Luna stablecoin flash crash in mid-June 2022, Tron’s own stablecoin began to experience a sell-off, but the coin’s DAO quickly spent hundreds of millions of dollars from its cash reserves to buy up the coin, removing it from the market and sustaining the value. On June 25th, Tron announced that it had passed the 100 million account milestone and that it was the fastest-growing public blockchain in the world, processing 3.4 billion transactions per day.
Read also: “Crypto Whale”: who or what are they? Here’s who dominates the entire cryptocurrency market
