The $2 billion market with over 15,000 cryptocurrencies promises to continue to grow. According to Bloomberg’s 2022 forecast, the expansion of stablecoins and the NFT fever will be key starting points for Bitcoin and other cryptocurrencies to continue to boil over this year.
Bloomberg analysts believe that Bitcoin and Ethereum will continue to grow, pointing to a $100,000 resistance line for the cryptocurrency. But what will happen to other cryptocurrencies that appeared in 2021, such as Solana or Avalanche? Will there still be cheap assets for those who want to enter?
Investment platform Vivid points out five bets for the crypto market in 2022. These are the bets selected:
Globally, solana is currently the 5th largest cryptocurrency by market capitalization, “but given that it started the year around €2 and is now around €140, it is easy to understand why some people think the story isn’t over yet.” , defends Vivid.
Solana is seen by many analysts as the biggest competitor to Ethereum as the blockchain technology (which underpins the asset itself) has the ability to process 50,000 to 65,000 transactions per second, compared to just 15 to 30 transactions per second. of Ethereum, or 250 of Cardano.
Like Solana, the avalanche is another major opponent of Ethereum, even being dubbed the “Ethereum Killer.” Avalanche’s blockchain protocol runs on three distinct “blockchain” technologies. One of them is used to generate AVAX coins and process financial transactions (in which the Proof of Stake system is used [proof of stake] low emission). The second “blockchain” deals with the sharing process itself, and the third with smart contracts encrypted in the “blockchain”.
“Because of this particular structure and everything programmers can do with it, it is a platform for platforms. The project behind it is incredibly huge, so you have to keep an eye on it,” emphasizes Vivid.
Decentraland is Vivid’s chosen metaverse crypto origin. It is a virtual reality platform that runs on ethereum. Players in this 3D virtual world rely on crypto-based assets to buy or sell land and things, and this platform has developed its own currency, known as MANA. Users can buy and sell digital real estate using MANA while exploring, interacting with and playing in this virtual world.
Cardano was launched in 2017. It is a “blockchain” platform that uses only a fraction of the power of Ethereum and Bitcoin, processes transactions faster, and has outlined a five-step roadmap that leads to the ultimate goal: to become a truly self-sustaining decentralized system company.
Developers can host apps and other cryptocurrencies on the platform. Smart contracts launched in 2021, and their work is now focused on the last two phases of development. For Vivid, these facts “show great potential for Bard Cardano in the long run, even if the responsible team sometimes tends to be a bit slow to implement new features.”
As for the investment platform, polkadot’s strength is communication. Cryptocurrencies tend to operate on their own and usually cannot transfer coins or share information from one to the other. Polkadot was the first to allow data exchange across multiple block chains.
It relies on a master network – the relay chain – and on groups of “parachains” that accompany it. These “parachins” use a kind of bridge to connect to other “blockchains” such as Ethereum. In addition, it has the advantage of quality management: one of the founders of polkadot is also one of the founders of ethereum.
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