Top 3 Cryptocurrencies That Are Faring The Best In The 2022 Bear Market

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Last Updated May 27th 2022
5 Min Read

Here are the top 3 cryptocurrencies to buy in the 2022 bear market. 

The recent market crash has led to speculations that we might be facing a ‘crypto winter.’ But the uniqueness of this sphere is that after every past bear market, cryptocurrencies have come screaming back stronger than ever. Investors should be looking for new opportunities and making well-researched decisions to buy their favourite crypto while the market is down. Here are the top 3 cryptocurrencies that are faring the best in the 2022 bear market. 

 

Monero (XMR)

Monero is one of the best privacy coins to buy in the 2022 bear market.

Monero is a blockchain network specifically created to maximize privacy and anonymity. It allows untraceable transactions, giving the crypto a unique use case for shoppers who value anonymity. 

Most transactions using other crypto tokens are tracked using a unique digital address, giving hints about its owner's online activity and identity. Monero addresses this issue by hiding this data and other transaction details. In addition, last year, the developers of Monero launched the Atomic Swap feature, allowing users to swap their Monero for Bitcoin without assistance from a third party while also shielding previous Monero transactions from Bitcoin's ledger.

The native token XMR is fungible, meaning they are completely identical and interchangeable with each other. Through ring signature, an encryption technique that creates multiple decoys for actions on the network, the network also gives every transaction plausible deniability. Monero is one of the top 3 cryptocurrencies that are faring the best in the 2022 bear market because the coin has a well-defined purpose, unique use case, impressive technical aspect, and an early-mover advantage. 

The team behind this crypto has planned for yet another latest update on 16th July 2022. The update will significantly upgrade Monero’s Bulletproofs algorithm to "Bulletproofs+," which will reduce the typical transaction size to almost 5-7% and improve verification performance by almost 5-7%, making every transaction lighter and faster. 

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Crypto assets are a highly volatile unregulated investment product.

Unus Sed Leo (LEO)

Despite being subject to noticeable price fluctuations, LEO surprised the market with a sustained uptrend, establishing itself as a top cryptocurrency. 

Unus Sed LEO is a cryptocurrency that describes itself as the utility token at the heart of the iFinex ecosystem. The name of the token is based on a Latin citation from one of Aesop’s fables. The crypto employs a unique token burn mechanism intending that iFinex is committed to buying back Unus Sed LEO from the market every month. 

The token allows users of the Bitfinex exchange to save money on trading fees and also offers a discount on trading depending on the number of LEO tokens held by an exchange user. In addition, with Bitfinex’s transparency initiative, buying back and burning its LEO exchange token was completely transparent. This allowed the public to view the firm use its gross revenues to purchase circulating LEO tokens at market rates.

The token is specifically designed to be used on the Bitfinex cryptocurrency exchange for trading, borrowing, and lending, eliminating the need for heavy fees. LEO has catered to the consistent rise in demand of the investors.

Moreover, by making itself constantly reliable and available at a lower cost, LEO enhances the liquidity of the investors. As a result, LEO solidifies its position in the list of the top 3 cryptocurrencies that are faring best in the 2022 bear market as the crypto seems to be holding a lot more promise in the years to come.

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Crypto assets are a highly volatile unregulated investment product.

Binance Coin (BNB)  

BNB has proven to be one of the best assets for investors, making it one of the top 3 cryptocurrencies that are faring the best in the 2022 bear market. 

Binance Coin is a cryptocurrency used to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Established in 2017, the Binance Exchange is the largest cryptocurrency exchange globally, which is one key reason for BNB’s rising popularity. 

Recent reports suggest that the BNB platform is responsible for more than 1.4 million transactions every second. Furthermore, from the start, BNB has shown impressive performance and doubled its value over the past few years, garnering investors’ attention. 

Additionally, the increasing role of the BNB Chain is also worth mentioning. Currently, several decentralized finance (DeFi) projects have already leaped, shifting their protocols from Ethereum, ensuring that transactions are more affordable and faster for users.

Binance Card is yet another significant update that is hugely popular among users today. Using this card, users can seamlessly spend their crypto directly from the Binance wallet. Moreover, the crypto also opens up a more convenient payment method and is a remarkable advancement in the Binance ecosystem. 

Experts say that the future of Binance Coin seems to hold lucrative possibilities. One key reason BNB is one of the top cryptocurrencies is that it holds 1 billion trading volumes on a clock basis. Moreover, it can also be traded for other digital assets providing BNB a unique advantage and increasing its growth potential. 

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Crypto assets are a highly volatile unregulated investment product.

The Bottomline 

Digital currencies have solidified their position as an alternative investment asset in the market. Institutions are looking for cryptocurrencies with massive growth potential. Considering the crypto’s market capitalization, position, future growth potential, and development team, these are the top 3 cryptocurrencies that are faring the best in the 2022 bear market. In addition, much-needed financial infrastructure is being built using cryptocurrencies, and investors are curious to grab the top cryptos with the most potential. 

The outcome of a strategic investment plan by thinking, strategizing, and researching has always ensured good returns for investors. 

Read More:

How To Buy Binance Coin (BNB)

Top 10 DeFi Cryptocurrencies That Are Set To Explode

15 Most Promising Cryptocurrencies To Invest In

7 Bargain Cryptos To Buy After The Crash

The 5 Best Coins In DeFi Crypto To Buy On Any Dips