If you’re looking to get ahead of the next crypto storm, you must know these five cryptos that are bound to explode in 2022.
The 2021 bull run is over, but there’s still so much more to be had this year! Sure, most of the top cryptos took a big dive in mid-May, but almost all of them are now valued higher than at the start of the year.
If you remember anything from What Big Cryptos Will Explode Next In 2022? make it these key points.
- Cardano and Ethereum may release huge upgrades this year. Cardano should finally have smart contracts and Ethereum is transitioning to proof-of-stake.
- Algorand and Aave are two new DeFi projects making waves. Both have huge potential if the DeFi market continues to grow.
- Regulation continues to be a thorny issue with the crypto market in 2022. Be cautious of new bans and new restrictions in the coming months.
But several other cryptos have a little something extra that will help them explode in 2022.
Which 5 Cryptos Will Explode Next?
- Cardano (ADA)
- Ethereum (ETH)
- Algorand (ALGO)
- Aave (AAVE)
- Ripple (XRP)
1. Cardano (ADA) - Smart Contracts On Their Way
Cardano is by far the most likely to explode next in 2022. After excellent gains early in the year, Cardano is now holding on to the fifth spot by market capitalisation and many believe that there’s more to come.
The reason everyone’s excited about Cardano in 2022 is that they plan to finally release smart contracts this year.
When this happens, many believe ADA will skyrocket as it will finally enable Cardano to fulfil its potential on what is to be boasted as the most robust smart contracts platform ever made.
2. Ethereum (ETH)
By moving to proof-of-stake, Ethereum will be more energy-efficient, faster, and cheaper to use.
It’s super important that this happens because back in February 2021, Ethereum transaction fees skyrocketed which made it almost impossible to use and may have lost them many projects.
Read Also: Why Ethereum Will Skyrocket
3. Algorand (ALGO) - The Most Effective PoS Crypto Yet?
The first permissionless pure proof-of-stake crypto and founded by MIT computer science professor Silvio Micali for blockchain applications.
It was created to handle transaction times and fees - two things that are inextricably tied together. The longer the waiting times, the higher the fees, and when they are high it is not ideal.
Algorand has only been around since 2019 and started terrifically. In the best-case scenario, it will recover its all-time high and shoot past it.
4. Aave (AAVE) - Leader Of DeFi Lending
Another DeFi project making waves in the boom of 2021 is Aave, a crypto lending platform.
Long story short, you can lend your crypto to others and earn interest from it without having to pay a middleman.
If Aave is successful, it could usher in a new age of lending and become a major industry disruptor. For the time being, it’s a very popular way to make a profit from the crypto you hold.
Don't Miss: Aave Price Predictions
5. Ripple (XRP) - Ready To Bounce Back From SEC Case
2022 could be the year Ripple bounces back after their ridiculous case with the US Securities and Exchange Commission (SEC).
In December 2020, the SEC alleged that XRP is not a crypto but a security, one that was not registered with them making its sale illegal.
However, since that blow, it is starting to look like the SEC’s case against Ripple is very weak and that Ripple could stand a chance of winning.
If this happens, we could see XRP reach new levels.
The Biggest Crypto Events Of 2021
News, be it good or bad, has a habit of making or breaking crypto. Here are some of the biggest crypto stories of the year.
Tesla Buys Then Decides Not To Accept Bitcoin
Technically two stories, Tesla helped pump up the price of Bitcoin at the beginning of the year to its all-time high when it was announced that they had invested $1.5 billion and will now accept BTC as a payment method.
But all that happiness didn’t last, and it was revealed that they no longer wanted to accept BTC because of the environmental impact.
El Salvador Makes Bitcoin Legal Tender
Bitcoin can now be used as payment for goods and taxes in El Salvador after a supermajority approved accepting BTC as legal tender. El Salvador is the first country to do this.
FCA Bans Binance From Operating In The UK
The UK’s Financial Conduct Authority has imposed a ban on cryptocurrency exchange Binance, forcing it to stop all operations in the country, and cease all promotions and activities.
Binance continues to struggle with regulators around the world, with several alleging that Binance is not regulated and not allowed to operate in their country.
China Outlaws Mining And Financing Crypto Companies
In yet another crackdown on cryptocurrency, China has banned banks from financially supporting cryptocurrency-related business ventures and outlawed crypto mining.
A significant portion of Bitcoin mining takes place in China.
Where Is The Best Place To Buy Cryptocurrency?
At eToro you can trade a wide variety of cryptocurrencies using their user-friendly platform.
Signing up is easy and can be done in four simple steps.
Step 1. Click ‘Join Now’ on eToro’s homepage. And fill out the registration form.
Step 2. Verify your identity by uploading proof of identity and address.
Step 3. Make a deposit. Minimum is $50 in most countries, $10 in the USA and the UK.
Step 4. Go to ‘Trade Markets’ → ‘Crypto’ and choose the cryptos you want to buy.
It’s that simple!
eToro – The Best Platform to Buy Cryptocurrencies
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk..
Which Cryptocurrency Will Grow The Most In 2022?
Bitcoin has the most potential to keep growing in 2022 because of its popularity and its comparison to gold. It has the most attention from institutional investors who have plenty of money to pour into BTC.
Which Altcoin Will Make Me Richer?
Cardano and Ethereum are the altcoins most likely to make you a millionaire in 2022 as both projects have major upgrades coming. Remember though it also depends on how you trade the asset. If you’re experienced enough, you can make good gains from almost any crypto asset.