The recent cryptocurrency crash, while complete mayhem, was able to dampen the spirit of investors only for a little while. With the cryptocurrency market showing signs of recovery since the first quarter of June, investors are again looking forward to investing in cryptos with booming prospects. As the market is still recovering, the prices of crypto tokens are still low. A large section of cryptocurrency experts have advised making the most of the current “buy the dip and sell the rip” situation. According to the market leaders, a lot of coins that are running at a low price currently are likely to explode in the coming few months. Odds are, if the investors can invest now, they will be able to see excellent profits by the end of the year. Check out more at Multibank.io.
The post below offers a brief on the top cryptocurrency projects that are likely to experience a boom by the final quarter of 2022.
Factors to consider before investment
Before getting into the list, it’s better to have a look at the major factors that are likely to drive up the price of a cryptocurrency.
High market cap
Higher market cap assures greater stability- higher stability is likely to attract increasing interest from investors. In other words, higher market cap leads to a boost in prices and a promising investment potential for a cryptocurrency.
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Strong fundamentals
You can expect steady and sustainable growth from a cryptocurrency if it’s backed by strong fundamentals. Look for cryptocurrency tokens that can offer meaningful use cases and are able to add value to society and the world.
Top 5 cryptocurrencies expected to explode this year
Ethereum (ETH)
As Ethereum is approaching the landmark Merge upgrade, all eyes are on ETH right now. The Merge upgrade would introduce game-changing developments and improvements in Ethereum- offering aspiring cryptocurrency investors more reasons to invest in Ethereum.
The Merge upgrade is slated to shift Ethereum to a cutting-edge and highly scalable PoS network, thereby beckoning the era of Ethereum 2.0. The cutting-edge Ethereum 2.0 will be way more scalable and greener than the existing Ethereum 1.0 and also assure lesser transaction fees.
As per the reports, the Merge upgrade will reduce the platform’s energy consumption by as much as 99%. The greener approach will pull in more investors to the cryptocurrency, thereby pumping up its adoption rate and market value.
Also, it has been claimed that the Merge upgrade will empower Ethereum to offer an incredible volume of 100,000 TPS- in comparison to its current 15 TPS mark.
Additionally, ETH supply is likely to plummet after the upgrade. It will create scarcity in the market and fast drive up the price of the cryptocurrency.
According to some experts, Net Connection the ETH cryptocurrency is likely to grow by 400 percent, surpassing 4,000 USD by the end of 2022.
Cardano (ADA)
A relatively new entry in the cryptocurrency scene, Cardano has fast been able to make its mark among the top 10 cryptocurrencies in just a few years of the launch. Empowered by cutting-edge PoS networks, Cardano has commanded kudos from experts for its excellent scalability and greener operation. It’s to note here, Cardano is slated to pass through a line of upgrades this year. One of them, Hydra, will improve the platform’s scalability that will further allow Cardano to assure 1,000 TPS compared to its current 250+ TPS limit.
Cardano is also used in the real world by esteemed organization. The upcoming upgrades will facilitate release of more dApps and NFTs from the platform, thereby piquing ADA’s market value. ADA, which is currently running at below $1, is predicted to reach close to $2 by the end of 2022.
Decentraland (MANA)
Decentraland is the FIRST-ever decentralized metaverse platform that is developed, owned, and managed by the users. In other words, Decentraland represents a VR-based game on Metaverse that runs on Ethereum blockchain. MANA is the native token of the platform and is used as in-game currency. The biggest gaming cryptocurrency as per market cap, MANA recently showed around 54% surge in the first quarter of June 2022. The coin currently stands around 1.01 USD.
Increasing interest in Metaverse is creating a huge hype around Metaverse projects, especially Decentraland. Experts are optimistic the hype will add further boost to MANA prices and the cryptocurrency might end the year at around $5.
Solana (SOL)
An aggressive competitor to Ethereum, Solana has been making big waves with its futuristic infrastructure. More precisely, Solana has developed a novel consensus mechanism that makes the cryptocurrency a worthy competitor to the second largest cryptocurrency in the world. The rising cryptocurrency platform is backed by PoH (Proof-of-History) consensus mechanisms that work along with PoS and assure more scalability and enhanced usability. SOL is the native token of Solana.
The cryptocurrency has outperformed a good lot of major altcoins and will rise to around $68.00+ by the final lap of 2022.
ApeCoin (APE)
The price of cryptocurrency is always influenced by increasing interest in a coin and the hype that follows. If there is one cryptocurrency that is creating the maximum possible hype lately (after ETH of course), it has to be ApeCoin.
Major reason behind the dramatic hype surrounding the cryptocurrency is its founding team. The APE coin was launched by the same famous BAYC team that recently grabbed headlines for its phenomenal NFT project. In fact, the BAYC NFT project is one of the most defining projects of the modern NFT era. The NFT project has also been adopted by a list of celebrities like Post Malone.
With the NFT market fast gaining traction, it’s self-explanatory why APE is poised to boom in 2022.
As of June 2022, the price of the cryptocurrency is up by 193%+ from the launch price of the coin. The coin is estimated to conclude 2022 at $7-$8.
Final words
So, here is the list of top most promising cryptocurrency projects for 2022. If you are planning to invest, the best thing would be to diversify your portfolio among various cryptocurrencies for better ROI prospects.
