Since 2009, there has been a radical change in the way of making payments. The creation of the first decentralized peer-to-peer payment system, Bitcoin, has led to the creation of a novel and a booming set of asset classes, the cryptocurrencies.
These digital currencies are backed by investors and community support but are outside any official jurisdiction. The growth of cryptocurrencies over the years is quite commendable and has attracted the attention of several large tech business leaders and government institutions.
Due to the rising phenomenon of cryptocurrencies, it is also worth examining cryptocurrencies from several perspectives, including that of merchants, banks, consumers, and governments, and considering the fundamental stability of the future of global economic and financial infrastructure.
Apart from digital currencies themselves, business leaders have also initiated projects to utilize the underlying technology of the top cryptocurrencies to inculcate efficient transaction mechanisms. In this article, we have listed the top cryptocurrencies for February 2022 that might witness a rise and increased adoption.
10. Avalanche (AVAX)
Avalanche, the rising star of the crypto market, has quite an impressive track record of making its way among the top cryptocurrencies in the market. Its rising market capitalization itself speaks for the rising demand for AVAX tokens among investors. The crypto recently tapped into one of the largest tech companies, Deloitte, to run a project helping local governments receive disaster relief funds and FEMA.
9. The Sandbox (SAND)
The Sandbox is a metaverse created on the Ethereum blockchain that supports the creation and monetization of assets and gaming experiences. It is powered by a decentralized autonomous organization and hosts non-fungible tokens. SAND is also the native token of the metaverse, so the market value of the crypto is expected to explode anytime this year.
Created by the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies. Since 2017 to date, the Ripple token has grown more than 10,000% approximately.
7. Terra (LUNA)
Terra is a blockchain payment platform for stablecoins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Its counterweight, LUNA, backs the Terra platform and is used to mint more Terra stable coins. As adoption of the Terra platforms is expected to boom this February, the value of the LUNA is also expected to rise.
6. Axie Infinity (AXS)
Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players. The game is inspired by some of the world’s most popular online games that allow the players to collect, breed, raise, and battle token-based creatures known as Axies. This crypto has become of the most popular cryptocurrencies which resulted in its market hike.
5. Decentraland (MANA)
Decentraland is quite popular for being a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. In its virtual world, the MANA token can be used by investors and traders to purchase plots of land in the metaverse and later navigate, build upon, and monetize.
4. Binance Coin (BNB)
Binance Coin is the form of cryptocurrency that investors can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its inception, BNB has been facilitating trades on its exchange platform. It also enables transactions and exchanges for major cryptocurrencies like Bitcoin and Ethereum. The BNB has constantly maintained its position among the top 5 cryptocurrencies in the market and will prove to be a good investment this February.
Unlike most major cryptocurrencies, Tether is a stable coin that is backed by fiat currencies like the US dollar and Euro and keeps the value of the token equal to one of those denominations. This makes Tether one of the top crypto investment choices for those individuals looking for a more stable option and trying to keep the volatility at bay.
2. Ethereum (ETH)
Ethereum is both a cryptocurrency and a blockchain platform and is also one of the favorite crypto platforms for developers since its potential applications like smart contracts can automatically execute the required conditions and NFTs. Since its inception, Ethereum has witnessed major price volatilities, but its value has constantly kept rising.
Like most other cryptocurrencies, Bitcoin runs on blockchain technology. Since additions to the distributed ledger must be verified by solving a cryptographic puzzle, BTC uses a process called proof-of-work to keep the transactions safe and secure from fraudsters. Bitcoin’s price skyrocketed back in 2021. But the success was short-lived and BTC fell off the wagon. But gradually crypto is gaining its stature back and might prove to be a profitable investment in 2022.
Source: Analytics Insight