What are the top 6 cryptocurrencies to invest in 2022? – Times of India

NEW DELHI: The year 2021 brought in many highs and lows for leading cryptocurrencies like Bitcoin and Ethereum which reached their all time high value over $65,000 and $4,460 in October and November 2021, respectively.
There were many other virtual currencies and stablecoins that made new records and expanded their market capital.
We bring to you the top 5 cryptocurrencies ranked according to their market capitalization, and could be a wise choice in 2022 to invest in.
1) Bitcoin (BTC)
* Bitcoin continues to dominate all digital assets, with currently a market cap of $8111 billion as of January 17, according to coinmarketcap.com.
* This pioneering cryptocurrency went through volatile moments, touching as low as $40,000 in September and as high as $65,000 in October 2021.
* Nevertheless, the belief of cryptopreneurs and investors remained unwavered in this cryptocurrency and it was even hailed as digital gold and inflation hedge by major banking entities like Deutsche bank and JPMorgan, respectively.
2) Ethereum (ETH)
* This cryptocurrency has also been able to sustain its 2nd position over a period of 1 year.
* It has a market cap of around $390 billion as on January 17, according to coinmarketcap.com.
* Ethereum would make a transition to Proof of stake (PoS) from proof of work (PoW) to improve its scalability and make it environmentally sustainable in 2022.
* Ethereum is distinctly known for being used as a foundation for running several blockchain-based applications like NFTs.
– It was also called digital silver by a Deutsche bank analyst for this reason.
3) Tether (USDT)
* Tether is the largest stablecoin with a market cap of $78 billion on January 17, according to coinmarketcap.com.
* The stablecoin reduces volatility by being pegged to US dollars and euros, and is one of the most popular choices of those seeking to invest in cryptocurrencies, but are reluctant to face volatility.
* It is pegged to the US dollar.
4) Binance Coin (BNB)
* This cryptocurrency is the native cryptocurrency of Binance crypto exchange, world’s biggest exchange by volume.
* Binance launched in just 2017, but expanded very fast by facilitating trade on its platform. The crypto has come a long way from its price in 2017 that was just $0.10 which increased to about 52000 percent on January 3, 2022 at $520.
* Binance (BNB) is ranked fourth with a market cap of around $80 billion , according to coinmarketcap.com on January 17.
5) Solana (SOL)
* It is known for its highest transaction speed at 65000 tps, Dapps and smart contracts.
* It belongs to the group of ethereum killers and uses a hybrid consensus model of PoS and proof of history (PoH).
* The promising cryptocurrency has a market cap of over $54.82 billion.
* Within a span of 2 years, Solana gained nearly 22,000 percent when it was launched with a value of $0.77 to $171 on January 3, 2022.
6) Cardano (ADA)
* Cardano is ranked 6th, with a market cap of $51 billion as on January 17 according to coinmarketcap.com.
* This cryptocurrency can be a good choice for crypto investment.
* The cryptocurrency works on the PoS model that increases its transaction time and decreases the environmental impact by staking method.
(For the latest crypto news and investment tips, follow our Cryptocurrency page and for live cryptocurrency price updates, click here.)

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