There are lots of altcoins that can make you rich in 2022. You just need to choose a project with real-world use cases, strong technical capabilities, and a strong community backing it up. Most importantly, you need to be ready to commit a significant amount of money.
During the ICO bubble of 2017, one could throw as little as $100 at a project and make 6 figure returns off it. However, the market dynamics have changed significantly after the crash that followed in 2018.
It has become harder for small projects with little more than a whitepaper to gain traction in the market. Besides, it may not be a wise move to throw money at random projects in the hopes of striking it rich. Chances of falling for scams or rugpools are quite high.
To increase the odds of success, it would be best to commit a higher amount on quality projects. The best altcoins have the potential to do 10x to 20x from their current prices. As such, they present an excellent opportunity to make a million from a well-timed investment.
Top Altcoins That Can Make Me A Millionaire In 2022:
Dogecoin is easily the number one cryptocurrency to watch in 2022. That’s because of the Doge-1 mission that is set to go live in Q1 of 2022. This mission by SpaceX is fully funded in Dogecoin, and as Elon Musk said, will put a literal Dogecoin on the literal moon.
This is a big deal considering how Dogecoin has responded to the hype in the past. Between April 2021 and April this year, Doge rallied by over 12,000% based on Elon Musk’s tweets.
Now that the self-proclaimed Dogecoin leader is taking it to the moon, the impact on the price could be even more parabolic. If it rallies by 1000% or more after this event, then anyone who goes big on Dogecoin now could easily become a millionaire by 2022.
Ethereum is one of the safest altcoins to bet on if one needs both capital safety and growth. Recently, research by Standard Chartered market analysts projected that Ethereum actual network value is anywhere between $26,000 and $35,000.
Many other projections give Ethereum a potential valuation of anywhere between $10,000 and $20,000. This means a sizeable investment in Ethereum today can turn into $1 million if Bitcoin breaks the $100k mark by 2022.
Ethereum’s biggest asset is its dominance in the platform blockchain space. Most DeFi projects run on the Ethereum blockchain despite its many scalability issues.
Now that this blockchain is in the process of a major upgrade, there is every reason to believe that its adoption in DeFi and other applications could grow significantly going into the future.
With Ethereum 2.0, most of its scalability bottlenecks will be gone. Gas prices are getting more predictable now, since the London fork. If there was ever a good time to bet on Ethereum, now is most likely the best time.
The odds are in its favour, and one just needs to have the resources to bet big on it.
Solana is another high-quality altcoin that has the potential to make investors extremely wealthy in 2022. Anyone who bet big on this project earlier this year is already rich, but that doesn’t mean the opportunity is gone.
Solana has emerged as one of the biggest competitors to Ethereum, and its adoption is gaining traction. At the moment, it has over 1900 live transactions per second, and the number is growing.
What makes Solana tick is its unrivaled scalability. The Solana blockchain can comfortably handle more than 50k transactions per second for costs as low as $0.00025 per transaction.
Due to its highly advanced technical capabilities, Solana has a lot of potential to grow exponentially going into the future. If its price action at the moment is anything to go by, then prices above $1000 per token are very much within reach in the not-so-distant future.
With such potential, a significant investment made into this crypto at current prices can easily be turned into a million or more in the next one to two years.
Chainlink is another altcoin that offers a mix of growth and capital security. This project has over the years grown to become the bitcoin of the decentralized oracle markets. It holds over 60% of this market.
Its market dominance is playing in its favour too, and most projects now choose Chainlink for data inputs and outputs almost by default. For instance, Chainlink was recently integrated into Solana, one of the world’s fastest-growing platform blockchains.
Chainlink is also getting better technically. With features like hybrid smart contracts, Chainlink can handle the growing demands on the network without breaking down or compromising on data security.
Based on its market dominance and fast-growing adoption, Chainlink has the potential to get hit upwards of $500 a token at some point. This means an investment made in this project today has the potential to turn into a million easily.
Cardano is in a buy zone right now, and the potential to make millionaires out of anyone who buys a sizeable amount of it today is high.
After several years as a work-in-progress, Cardano has hit the stage and is in the process of integrating smart contracts into its mainnet. The anticipation of this event has played a huge role in Cardano’s recent rally that saw it test highs of $3.
The process of enabling smart contracts on this blockchain is going on pretty well, and top exchanges like Binance are supporting it. Once the upgrade is complete, Cardano will be in a position to take on Ethereum in everything from DeFi to NFTs.
Cardano’s edge on this front is in its scalability and security. These are factors that are likely to see it draw in top projects and drive up the demand for ADA.
Once projects start building on Cardano at scale, even $10 per token can be attained in the short term. For investors that bet big on ADA now that it is still under $3, making it possible a million off.