Gokhshtein Media, the company of US politician David Gokhshtein, evaluated 10 altcoin projects to focus on in 2022 in its recent report. According to Statista, about 6,000 altcoins are in the market as of last year, and the firm is listing cryptocurrencies that can take the long-term stage.
Here are 10 altcoin projects for the 2022 radar
Ethereum is the largest and most popular altcoin project launched in July 2015. In addition to “play-to-win” games, sports betting, prediction markets and decentralized exchanges, Ethereum is widely used in different applications. It is trading around $3,000 in February 2022.
Litecoin is a cryptocurrency developed in 2011 with the aim of completing transactions quickly and cheaply. Although LTC is not the fastest compared to its competitors, it is preferred for large transfers. Due to the small number of investors, Litecoin is more affordable than top performing cryptocurrencies like Bitcoin. It is trading at $138 at the time of writing.
Bitcoin Cash (BCH), one of the earliest and most successful hard forks of Bitcoin, occupies a special position among altcoins. It offers different block times and reasonable transaction fees than Bitcoin. It is trading at $338.44 at the time of writing.
Dogecoin caused a stir in 2021 due to the curiosity of several crypto phenomena. Some investors, like Dallas Mavericks owner Mark Cuban, accept DOGE as a payment method. Dogecoin is also the largest meme coin in the market.
Stablecoin giant Tether (USDT) is known as a safe haven for investors to protect themselves from the volatile price structure. Investors who want to avoid high volatility in the market can use USDT. USDT is always worth $1.
2022 trend analysis
CoinMarketCap Binance Coin, Tether, Solana, Cardano, Terra Luna, Polkadot, Polygon, Avalanche and Etherum are expected to outperform. The platform adds that the cryptocurrency market is growing fast. Core layer protocols were the focus of 2020. The year 2021 was the year of protocols built on these core protocols. In 2022, all these protocols will be built on top of each other and interoperability will be ensured. Various flaws and weaknesses in the industry have emerged as it has evolved. As development continues, some big breakthroughs can be expected that will help define the future of DeFi, according to the report.
NOTE: This article does not constitute investment advice.