Planning to invest in crypto assets in 2022? Want to stay ahead of the crypto trends? Then you’re probably asking yourself:
“What crypto coins should you invest in in 2022? What are the most popular cryptocurrencies this year?
Bitcoin and Ethereum are likely to remain the most popular cryptocurrencies in 2022 and beyond. While Dogecoin, Cardano, Solana, and Shiba are the most trending coins in 2022.
Cryptocurrencies have established themselves as a potential investment class. However, Bitcoin is not just the only cryptocurrency that is flourishing. Several innovators and spinoff currencies have emerged in the market today, trading with high market caps. Therefore, taking into account price rises, market cap, and other developments, we have compiled here the list of the 10 most popular types of cryptocurrencies.
In the list below, you will see several DeFi (or Decentralized Finance) coins that have made a significant mark over the last couple of years. However, the casual investor may not know these projects because they are blinded by the usual suspects – Bitcoin, Ethereum, etc.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
So, what are the top 10 most popular cryptocurrencies? Let’s take a look.
At A Glance: The Top 10 Most Popular Cryptocurrencies
Before we dive into the particulars of the most trending coins, let's take a look at which are actually on the list. The following coins offer attractive investment opportunities for investors of all kinds. :
- Shiba Inu
Now, let’s go deeper into each of these coins.
The continuous support from celebrities and billionaire investors has made DOGE one of the most popular cryptocurrencies to buy now.
Dogecoin ceases to be a mere joke cryptocurrency today. The infamous coin eventually won the trust of investors, who then realized that it was not just a Ponzi scheme. The coin found its place on several major cryptocurrency trading platforms in 2021. Although Dogecoin is a fork of Bitcoin, DOGE has several other distinct features that make it stand apart.
Rather than trying to beat inflation like other digital currencies, Dogecoin depends on it. That is, even if DOGE's value drops, miners can still mine new coins. These mined coins will eventually replace the lost ones and maintain a steady supply of over 100 million active Dogecoin tokens.
Since the coin holders treat DOGE more like a fiat currency, this mechanism works very well for the crypto. Moreover, it is widely accepted as a medium of exchange across the globe. Therefore, it can also be exchanged for goods and services on various platforms.
Dogecoin's Vibrant Community And Fan Base
Dogecoin is one of the most popular cryptocurrencies in the market today, thanks to its dedicated and vibrant Dogecoin community. Reports show that Dogecoin investment is highly community-based, and that is where its potential lies. Apart from a dedicated community across multiple social media platforms, the continuous endorsement from celebrities and millionaire investors is also a key reason to buy DOGE.
What Makes Dogecoin so Popular?
It all started with a series of tweets from the billionaire Elon Musk. He has always voiced his support for Dogecoin through numerous tweets and memes, pushing DOGE prices to significant highs. Further, Musk was followed by Mark Cuban, Gene Simmons, Rapper Snoop Dogg, etc, showing support for the meme coin through their social media platforms. With continuous support from celebrities, the asset gained wider acceptance, making Dogecoin one of the top most popular cryptocurrencies in the market today.
Dogecoin Price History
DOGE started 2021 at a value of just $0.005 and surged higher to hitting an all-time high of $0.7376 in May. Dogecoin’s price is up almost 4000% in one year and is expected to soar even higher in the coming years.
According to Walletinvestor long-term forecast, Dogecoin’s price will hit $1 in 2025.
Read also our Dogecoin Price Predictions.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Shiba Inu (SHIB)
Shiba Inu, one of the most popular coins in 2021, has been at the forefront of the doge meme coins revolution.
Shiba Inu is an ERC- 20 token that enjoys the security and support of the Ethereum ecosystem. The meme cryptocurrency has more utilities compared to Dogecoin as the smart contracts on the Ethereum network offer more opportunities to the Shiba developers.
The price of the SHIB token has been on a massive rally this year, hitting record highs. Shiba Inu has an active community of holders that support and promote the token on various social media platforms like Twitter, Reddit, etc.
Why Was Shiba Inu Rising In 2021?
A key reason why SHIB is a cryptocurrency worth watching in 2022 is its slowly growing active ecosystem with potential use cases and utilities. Its decentralized exchange, the ShibaSwap, is also widely popular among traders today. Moreover, the developers are planning to introduce NFT trading on the platform in the coming years.
The SHIB token is now available in some of the most popular exchanges worldwide. It is accepted by platforms like Shopping.io, which allows users to buy goods from Amazon, eBay, and Walmart using crypto. SHIB also has a growing fanbase and is a hot topic of discussion in international chat rooms, social media platforms, and among meme-makers. This will significantly drive the token’s adoption rate, pushing the price of SHIB to new highs.
Shiba Inu Price History
After hitting an all-time high of $0.000088 in October, SHIB has experienced a pullback, but the experts are expecting SHIB to climb up in the future.
According to CoinPriceForecast, Shiba Inu will reach $0.00009041 in 2025, while Walletinvestor is expecting SHIB to hit 0.000107 in 2026.
Read also our Shiba Inu Price Predictions.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano could be a good buy now since its smart contracts are now finally live.
Cardano has become the most discussed cryptocurrency in the market over the past few weeks. This sustainable cryptocurrency aims to provide the unbanked population access to financial services seamlessly. This is why ADA is a hot cryptocurrency with massive growth potential. Moreover, 2021 has been a pivotal year for IOHK, the engineering company behind Cardano. The partnership with the Ethiopian government to create a blockchain-based system for the education sector has offered Cardano a potential real-world application, pushing ADA’s price higher.
The Launch Of Alonzo Upgrade
Yet another reason to buy Cardano now is the successful launch of its much-awaited Alonzo upgrade. This has marked the first stage in Charles Hokinson’s plans to develop a fairer global financial system at a reduced monetary and environmental cost.
Furthermore, the update will also provide Cardano with smart contract functionality, offering developers more opportunities. This would significantly drive Cardano’s adoption, making ADA a good buy now for long-term investors.
The platform has already witnessed over 100 smart contracts running on the network and its first decentralized application deployed.
What Makes Cardano so Popular?
Much of Cardano’s popularity is pegged on expectations that it will one day surpass Ethereum as the go-to smart network for developers. According to one of Cardano’s developers, Charles Hoskinson, there are around 100 companies already in the process of transitioning from Ethereum to Cardano - and many expect this trend to continue.
Cardano Price History
The price of ADA surged significantly in 2021, hitting a new all-time high of $3.10 on September 2nd.
CoinPriceForecast expects Cardano to close 2022 at 1.57, 2025 at $3.14 and 2027 at $4.29.
Read also our Cardano Price Predictions.
Algorand is the best cryptocurrency to buy now as it is one of the most promising blockchain projects in terms of technology and use cases.
The purported goal behind Algorand was to provide quicker transactions with enhanced security and relatively lower fees. It emerged as one of the fastest blockchains, with the capacity to handle almost 1 million transactions per day. Moreover, Algorand also powers smart contracts and allows developers to build and launch NFTs and tokens on the platform.
Algorand’s Future Is Extremely Bright
The project introduced the world’s first Pure Proof-of-Stake functional blockchain, which made ALGO’s consensus highly efficient and fair as network governance is no longer dependent upon those who have the most tokens. Algorand offers high scalability, security and boasts built-in privacy features with a set of efficient layer-1 blockchains.
Koibanx, a company attempting to push Bitcoin adoption in El Salvador, has planned to choose Algorand as the blockchain to build the country's infrastructure. Over 700 organizations have already adopted Algorand’s technology worldwide. Thanks to the boom of NFT and DeFi sectors, the list is still growing. This makes ALGO a good buy now as it indicates a high ROI in the future for investors.
“What do I really think of Algorand? One can’t deny that their tech stack is impressive true. They’re unique and ingenious pure proof of state consensus mechanism. They are much closer than other projects to attacking that blockchain trilemma.”
Read also our Algorand Price Predictions.
Thanks to the blockchain’s unique open lending platform, the price of COMP has seen a significant rise since the beginning of 2021.
Compound aims to disrupt the traditional loan system and provide a platform for potential lenders to give out loans by encrypting their virtual crypto assets in the protocol. The platform also offers loans to its users and allows everyone to borrow money. This algorithmic money market protocol is also credited with starting the current DeFi boom.
Compound is a cryptocurrency with tremendous growth potential. COMP started trading at $64.6 in June 2020. Later the token saw its first notable price rise on February 5, 2021, reaching $534. Gradually, the price of COMP rose higher to its all-time high of $854.4 on May 11, 2021.
Recently COMP was also listed on Coinbase, one of the most popular cryptocurrency exchange platforms. This new age token also offers Bitcoin HODLers seamless access to the DeFi sector by introducing Wrapped Bitcoin (WBTC). Therefore buying ALGO now could double your investment significantly over the long run.
Compound Price History
The Compound price jumped by 900% from October 31, 2020 to May 11, 2021 as it jumped from $91.25 to $855. Since then, COMP has lost more than half of its valuation.
According to Digitalcoinprice, Compound (COMP) price might surprise $250 by the end of 2025.
Read also our Compound Price Predictions.
Maker is one of the most popular cryptocurrencies known for its notable contribution to the DeFi industry.
With a return on investment (ROI) of 16,337.24%, Maker is one of the top cryptocurrencies to invest in this year. Maker is a governance token for voting on the MakerDAO and Maker protocol. It also provides DeFi offerings where users can seamlessly lend and borrow digital assets, eliminating the need for an intermediary.
Why Is Maker Special?
MKR is the governance token of the MakerDAO protocol. MakerDAO is a lending/borrowing protocol, wherein you can lend certain tokens and generate the stablecoin DAI (yes the same DAI we talked about above). The more ETH you have locked up, the more DAI you can generate. When users are ready to unlock their ETH, which serves as collateral for their DAI loan, they simply pay back the loan along with any fees.
The main function of the MKR token is to ensure the stability of the DAI token and allow the holders to participate in the governance process. Holders of MKR make key decisions on the operation and future of the system.
Maker Price History
Since the beginning of 2021, the MKR price 10X’d as it jumped from $595 to $5,840 on May 4, 2021. Since then, MKR has dropped to $2,280.
Digital Coin Price predicts that the Maker price might cross $3,263 in 2023 and $4,538 in 2025.
Read also our Maker Price Predictions.
Stellar is known as the best-performing altcoins of the last five years, with steady growth in price and development.
Lumen or XLM, the native currency of the Stellar blockchain, has seen a significant rise in its price in 2021. Stellar is a popular cryptocurrency known for its aims to offer inexpensive transactions in underdeveloped markets. Instead of a standard mining network for transaction validations, the blockchain relies on the federated Byzantine agreement algorithm.
Stellar Institutional Involvement
Stellar strives to make people’s savings more useful and accessible with its blockchain technology. It has partnered with some of the largest companies in finance and tech, including Deloitte, IBM (IBM), and Stripe, indicating a high ROI in the future for investors.
A key reason to buy XLM now is its high compatibility with the requirements of the common people. Further, if the network encourages more decentralized applications in its platform, it will push XLM's value to new highs. Therefore, its current affordable price, high market cap, and future potential make Stellar an ideal investment option for future returns.
“According to the latest long-term forecast, Stellar price will hit $1 by the middle of 2033.”
Read also our Stellar Price Predictions.
Thanks to the colossal growth of DeFi, Aave has become one of the top popular types of cryptocurrency with huge growth potential.
Several crypto enthusiasts call Aave the World’s bank, as it introduces an efficient way of cryptocurrency lending. The protocol offers several unique features like flash loans that allow users to borrow assets without submitting any collateral. Buying AAVE will help investors earn interest with better return rates than any traditional savings account, by just depositing their stablecoins in the network.
Aave’s Safety Module
The Safety Module is yet another notable feature that makes Aave a good investable cryptocurrency. If any shortfall events occur, the staked AAVE tokens would act as insurance, and up to 30% would be slashed back, paying back losses.
Aave’s pro version could be yet another reason for its surging popularity. It offers a permissioned platform created specifically for institutional investors. This will eventually lead to increased institutional adoption boosting AAVE price to record highs.
Digital Coin Price predicts that Aave price might cross $282 in 2023 and $376 in 2025.
Read also our AAVE Price Predictions.
A high market cap makes MATIC one of the most popular cryptocurrencies in 2022.
With its new sidechain solution, Polygon tackles some of the major challenges of ETH like poor user experience, delayed transactions, insufficient throughput, and lack of community governance. Reports show that MATIC saw meteoric growth in the total gross value locked (TVL) in the smart contracts that DeFi protocols function on.
Polygon Is Making Ethereum More Manageable
Polygon is one of the most popular cryptocurrencies today, thanks to its fast and relatively cheap transactions. Managing a transaction is much cheaper compared to Ethereum, which is one reason why investors buy MATIC. Further, it is also compatible with EVM, helping developers who built apps on Ethereum and program in Solidity.
Today several projects like NFTs, sports betting apps, decentralized games, and online casinos use Polygon’s architecture. Moreover, almost 100,000 gamers and 500 decentralized apps have already joined its Polygon Studio platform. Finally, its merge with the Hermez, a zero-knowledge (ZK) cryptography-based scaling project, in a $250 million deal would likely make MATIC one of the top cryptocurrencies to buy for the future.
GOV Capital predicts Polygon will reach $5.8 by the end of 2022.
Read also our Polygon Price Predictions.
The ever-growing interest from investors and institutions makes Filecoin one of the most popular cryptocurrencies to buy now.
Filecoin is a cheaper, faster, and highly secure alternative to most centralized cloud data storage peers like Microsoft Azure and Google Cloud. A key reason for the rising popularity of Filecoin is its open protocol that aims to store data in a decentralized manner.
Filecoin Price Boosts Due To Chinese Investments
Several investments and coalitions have fueled its price recently, boosting Filecoin’s investability quotient. Some of the significant investments were from Xinyuan Technology Co, the giant computer hardware company, and IPFS, The Interplanetary File System, a leading infrastructure provider for the blockchain industry based in China.
The launch of Filecoin investment trust by Grayscale was yet another factor that pushed the value of FIL higher. Filecoin also collaborated with Dapper Labs, with a mission to establish best practices for storing NFT data by developing an NFT ecosystem on the Flow blockchain.
“According to the latest long-term forecast, FileCoin price will hit $25 by the middle of 2022 and then $50 by the middle of 2025. FileCoin will rise to $75 within the year of 2027.”
Read also our Filecoin Price Predictions.
Top 5 Honourable Mentions: Other Popular Coins
1. Bitcoin (BTC)
The original cryptocurrency and arguably what put blockchain technology on the map. Bitcoin was created back in 2009 as a new form of peer-to-peer payment, removing the need for a central authority, such as a bank or government body. Bitcoin achieved this by its unique proof-of-work consensus mechanism, with its now-famous mining system that eliminated the double-spending and allowed for a secure, decentralised system of exchange.
What Makes Bitcoin so Popular?
Being the first cryptocurrency doesn’t necessarily make Bitcoin the best cryptocurrency - in fact, there have been numerous altcoins created to address apparent shortcomings in the original cryptocurrency’s technology. So what made Bitcoin so valuable?
Since the COVID pandemic, many investors have lost faith in traditional markets and Bitcoin has been seen as a way to hedge against inflation and future uncertainty.
Whilst there are numerous other cryptocurrencies, Bitcoin’s dominance as the market leader means it is comparatively stable. It is also one of the most widely accepted tokens for retail transactions, with payments giant PayPal offering support for BTC as of 2020.
“I am pretty confident in Bitcoin to $100K by the end of 2022."
Anthon Pompliano, Co-founder at Morgan Creek Digital
Read also our Bitcoin Price Predictions.
2. Ethereum (ETH)
Developed in 2015, Ethereum was the first of a new wave of ‘second generation’ cryptocurrencies with enhanced capabilities. Whereas Bitcoin simply offered the exchange of a digital token, the Ethereum architecture could support apps, smart contracts and even the development of new cryptocurrency tokens thanks to its programmable ecosystem.
What Makes Ethereum so Popular?
It is an exciting time for Ethereum. Whilst it has long held the number two spot behind Bitcoin, the ongoing Ethereum 2.0 upgrade and the impending shift from a proof-of-work to a proof-of-stake consensus mechanism means that the original smart network now has more potential than ever before, as well as the scalability required to keep up with ever-increasing demand.
Whilst Bitcoin is still traded in far higher volumes, Ethereum now dominates social media, with more YouTube users watching videos on it than any other cryptocurrency. To date, some 231 million ETH-related videos have been watched, compared to 199m for Bitcoin.
Backing from celebrity investors in 2020 also helped to propel Ethereum’s popularity as the crypto market exploded.
"I think the applications leveraging smart contracts and extensions on Ethereum will dwarf Bitcoin."
Mark Cuban, billionaire investor, entrepreneur and TV personality.
Read also our Ethereum Price Predictions.
3. Ripple (XRP)
Famously referred to as the ‘banker’s cryptocurrency’ Ripple Labs launched XRP in 2012 to facilitate inter-currency transactions between banks and financial institutions.
Ripple differs from many other cryptos in that it is owned and operated by a central organisation - which some have said goes against the ethos of blockchain technology. However, XRP was set up with a very specific purpose - to provide a more efficient, lower-cost alternative to the existing currency transfer system: SWIFT.
What Makes Ripple so Popular?
Despite Ripple having a reasonably turbulent time recently - with an ongoing court case brought by the US Securities and Exchange Commission - XRP seems to be going from strength to strength with its price movement.
Despite potential regulatory issues, the project has support from several major financial institutions, including Santander and Fidor Bank and the Commonwealth Bank of Australia. Naturally, this bodes well for XRP as a cryptocurrency for international money transfers.
“XRP has a future in global business, just like Bitcoin and Ethereum. We can expect to see it become more and more mainstream as financial institutions and large organizations begin to purchase it,”
Nishank Khanna, the chief financial officer of fintech lender Clarify Capital.
Read also our Ripple Price Predictions.
4. Tron (TRX)
Tron is an interesting altcoin that was set up by a not-for-profit organisation in 2017, headed by the much-fabled Justin Sun. The goal was to provide a network where digital artists could share their content directly with their audience - removing the need for a fee-charging middleman, such as Netflix or Apple.
What Makes TRON so Popular?
The idea for a decentralised platform for sharing digital content certainly has potential - especially since Tron acquired the BitTorrent network in 2018. What’s more, the emerging trend for non-fungible tokens has the potential to shake up the crypto market - Tron is perfectly placed for the development and distribution of NFTs
“TRON has a great community of supporters and developers, where the founder himself is a great crypto enthusiast and believes in constant innovation. So, TRON might be one of the users’ favourite cryptocurrency in the long run”
Read also our TRON Price Predictions.
5. Binance Coin (BNB)
Binance Coin (BNB) is the native token of the Binance cryptocurrency exchange - the biggest crypto exchange in the world. Originally an Ethereum-based token, BNB migrated to its parent network when the Binance decentralised exchange went live in 2017. Binance Coin can be used to pay fees on the network, as well as a medium for exchange between other cryptocurrencies.
What Makes Binance Coin so Popular?
Binance Coin has numerous uses, but being the token that fuels Binance DEX - which processes some 1.4m transactions per second - BNB is often in high demand as one of the top utility tokens. In fact, those paying Binance DEX fees with BNB are entitled to a discount, which means its popularity is more or less assured as long as Binance holds its position as a top exchange.
“[The] purpose of BNB token has not changed… the more it is used (and the more use-cases), the higher the value”
Changpeng Zhao, founder and CEO of Binance
Read also our Binance Coin Price Predictions.
What Cryptocurrencies Should I Buy In 2022?
Chances are, that if you are reading this article then you already have the popular coins, aka Bitcoin, Ethereum, etc. However, the list above should give a chance to invest in a relatively “hidden gem.” Now, what you should invest will depend on your risk appetite. Should you go with something relatively stable like MATIC or fluctuating like SHIB? That will depend completely on you. We suggest that you read on these individual coins in our site before you proceed with your trading decision.
Having said that, all the coins listed above have very solid fundamentals and use cases. You can’t really go wrong with any of the projects. MKR, COMP, and AAVE champion the wonderful world of DeFi, while Cardano and Algorand provide an alternative to Ethereum. Overall, read up on these different innovations before putting your hard-earned money to work.
Any entry on the cryptocurrency list above is potentially a good investment - each one has its own attributes and has stood the test of time, at least in the fast-moving world of cryptocurrency. Of course, choosing the next big cryptocurrency requires careful research and trading volume is just another metric you can use to inform your strategy.
Most Popular Cryptocurrencies - Final Thoughts
Our list of the top ten most popular cryptocurrencies may have thrown up a few surprises, but it should be remembered that it represents just a snapshot of the market. There are different reasons why traders buy and sell cryptocurrencies and the most popular cryptocurrency is not necessarily the best cryptocurrency to invest in.
We know what you are thinking – there are some pretty obscure names on the list. There is an old saying – ”the most popular cryptocurrency is not necessarily the best cryptocurrency to invest in.“ We believe that the coins in this list have significant value and promise due to their robust mechanics. Be diligent with your research and prepare yourself for the risks. Keep an eye out on market performance and do your due diligence as to what these projects have to offer.
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What is the fastest-growing cryptocurrency?
Most of the fastest-growing cryptocurrencies are those that are part of smart networks. The cryptocurrency market changes quickly, but Cardano is one altcoin that is tipped to grow significantly in the near future and is gathering more and more support amongst crypto experts and big business.
Which Altcoin will explode in 2022?
As the top cryptocurrencies continue to surge to record highs, many investors are looking to the lesser-known altcoins to see where the biggest investment opportunity may lie. Coins such as Tron, IOTA and Cardano have huge amounts of potential, provided they are able to deliver on their original mission statements.
Which coin can beat Bitcoin?
Talk of which token can beat Bitcoin is almost as old as the crypto market itself. However, investors should remember that its growth that matters. Whilst Bitcoin holds the top spot - by a considerable margin - there are other coins that have much more room for price growth.
What is the most widely used cryptocurrency?
Despite Bitcoin being the most famous of cryptocurrencies, it was actually Tether that was the most popular token by trading volume when we conducted our research.