Experienced traders have the opportunity to buy high-value altcoin projects at a discount in bear markets. That said, here are some of the best cryptos to stock up at this stage of the market.
Top 5 altcoins to invest in 2022 and why
First up before moving on to altcoins is Bitcoin, the most established crypto with a current market cap of around $370 billion. Bitcoin’s price has skyrocketed over the years and has always been the flagship of the market. In May 2016, one BTC was worth $500. It’s now around $19,000, up 3500% even excluding its November ATH.
Also, BTC is a favorite coin in times of crypto market crisis, given its long standing position in the market and its resilience to bear markets.
For investors looking to wait for signs that the crypto market is in the consolidation or recovery phase, a stablecoin may be the best investment option right now. Stablecoins are a type of cryptocurrency whose value is pegged to the dollar.
stablecoins
The largest stablecoin by market capitalization is Tether (USDT), which is pegged to US dollar reserves. It has also been in the market for a long time and has survived the most bear market of all stablecoins. However, there is speculation as to whether Tether has the US reserves they claim to have. Another stablecoin that investors can buy in a bear market is USD Coin (USDC), backed by Ethereum.
Binance Coin (BNB)
The other altcoin followed in the bear market is Binance Coin (BNB) with a market cap of $35 billion. BNB is the native cryptocurrency of Binance, the world’s largest crypto exchange. Since its launch in 2017, Binance has expanded its range of services and offers, initially limited to crypto-only transactions. BNB’s price in 2017 was just $0.10. Then, in early July 2022, its price rose to about $215. This means a gain of approximately 214.900%.
The Binance platform continues to make strides at a time when many of its crypto exchange competitors are laying off staff and consolidating funds. An example is Binance bringing in 2 new brand ambassadors. cryptocoin.com As we have mentioned, one of the ambassadors was the world’s greatest football icon, Christiano Ronaldo. The other brand ambassador is Khaby Lame, a well-known TikTok star.
Cardano (ADA)
Cardano (ADA) is the next cryptocurrency on the list that investors should consider buying. The team behind Cardano is rapidly developing Blockchain during the most anticipated upgrade ever. This upgrade is Vasil hard fork. We have covered the details about Vasil in this article.
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Meanwhile, Solana (SOL), akin to ADA, is one of the strongest Ethereum competitors. While ADA is leading the way in terms of community and market cap, SOL is still a good option to invest in. One reported issue with SOL is the number of recent network outages it has experienced on Blockchain. However, this is mainly due to SOL pushing the limits of its technology.
If the SOL team improves the stability of the Blockchain, there is a chance that SOL will become one of the most performing Blockchains on the market.
Polygon (MATIC)
Last on the list is Polygon (MATIC), a layer-2 scaling solution that aims to scale Ethereum even further. The merger of Polygon with Ethereum could bring Ethereum to higher transaction speeds with lower transaction fees.
Considering that ETH is the largest altcoin by market cap, it is reported that MATIC could increase its value in the coming months or the next bull run.
