Here is a list of the top 5 cryptocurrencies to add to your portfolio in May 2022.
2022 has been a good year for cryptocurrencies despite the ongoing war crippling the crypto market briefly. Along with traditional top cryptocurrencies like Bitcoin and Ethereum, this year has witnessed a high rise of meme coins as well as altcoins. Interest in the crypto market is only likely to snowball in the coming years.
If you plan to invest in the best cryptocurrencies in 2022 and want to stay ahead of crypto trends, you are in the right place. Based on many considerations, here are the top 5 cryptocurrencies to trade in May 2022.
Ethereum is the de facto choice of the top cryptocurrencies to invest in 2022.
Most cryptocurrency projects out there are built on top of the Ethereum blockchain. In fact, this seems to be the case with virtually most of the meme coins and metaverse projects that we came across today. In addition, Ethereum introduced innovations to blockchain security and usage, with its smart contracts becoming a platform for other applications.
Ether has proved to be a good investment. It has the potential to outpace any other investment. ETH has experienced a tremendous hike in its price. From 2016 to early 2022, its price went from about $10 to over $3,550, increasing more than 32,000%.
Analysts estimate that Ethereum (ETH) has plenty of room for growth ahead, and investing in Ethereum is a good decision for the long-term. These factors make ETH one of the top cryptos to trade in 2022.
Shiba Inu (SHIB)
It comes as no surprise that experts believe Shiba Inu is one of the top cryptocurrencies to trade in May 2022.
Investors and community members that missed out on the Dogecoin craze are eager to look for the next big thing. SHIB appears to have positioned its market entrance well to capture this wave as the network has seen some impressive growth since its inception.
As one of the top meme coins, Shiba Inu has witnessed huge gains since launching in 2020. In fact, Shiba Inu has performed so well that it is one of the most popular cryptocurrencies and now top-20 crypto in terms of market cap.
Anyone who purchased just $2 worth of SHIB in January 2021 was a millionaire by November, as SHIB rallied by over 48,000,000%. While it started as just another meme coin, Shiba Inu is now working on a Metaverse platform, and its adoption in payments is growing.
As one of the top cryptos to trade in 2022, it is worthwhile to invest in SHIB.
Yearn.finance is one of the top cryptos to trade in May 2022 as the protocol has been showing strong upward momentum.
In 2021, returns had been even more favorable for early backers of this decentralized project. For instance, those who invested in Yearn.finance at the start of 2021 would have paid around $22,000 per token. Just five months later, the same digital currency surpassed a price of $93,000. This translates into gains of over 320%, making YFI one of the top cryptos to trade in May 2022.
It is important to note that although Yearn carries a huge price, tokens can be fractionated just like Bitcoin. This means that when using a newbie-friendly crypto platform, you only need to meet a minimum investment of $10. This makes YFI one of the top 5 cryptocurrencies to buy.
One of the benefits of investing in Yearn is that it offers investors multiple ways to earn from crypto holdings. This maximizes one’s potential to make the most of their crypto holdings. Yearn investors can take advantage of any of them and grow the value of their assets. Since these multiple earnings streams are continually drawing in new investors, they guarantee long-term value growth for the Yearn. All these factors make YFI a top cryptocurrency to trade in May 2022.
Polkadot is one of the top user-friendly cryptocurrencies that are easy to use.
Polkadot is a unique project that aims to decentralize the web by connecting blockchains and enabling interaction. This will eventually allow certain new applications like decentralized finance (DeFi) services. Polkadot effectively allows any blockchain to be attached to it, making it one of the top cryptocurrencies to trade in May 2022.
The DOT tokens are also used for governance to vote on any changes to the Polkadot network. Unlike other cryptocurrencies, Polkadot can be easily upgraded to fix bugs or even introduce new features without needing a hard fork or spinoff.
Since it was developed by a Switzerland-based Web3 Foundation, Polkadot is poised for future growth. In addition, the network is known for its unique and complex architecture. It is multi-chain and combines several blockchains. This unique structure allows Polkadot to process a large number of transactions simultaneously. For all these reasons, DOT is one of the top cryptocurrencies to trade in 2022.
Diversify your portfolio by buying APE, one of the top cryptocurrencies to invest in May 2022.
Another top crypto to trade in May 2022 is ApeCoin. The gaming coin was launched in 2022 by the team behind Bored Ape Yacht Club. The latter is a platform made up of 10,000 one-of-a-kind collectible Bored Ape non-fungible tokens (NFTs). This coin offers some of the investment options for May 2022, all of which are based on the Ethereum blockchain.
ApeCoin is an ERC-20 cryptocurrency with governance and utility features. This top cryptocurrency’s price was at around $6.40 when it was first launched in early 2022. Within hours, APE prices were trading for approximately $42 per token.
ApeCoin was developed as a Metaverse crypto project. The crypto can be used for making online purchases via Shopping.io. This allows users to access products from eBay, HomeDepot, Amazon, Walmart, and more.