3 Crypto Gems Set to Make a Comeback in 2022 and Beyond
Choosing the best cryptocurrency to invest in has been challenging during the last several years.
The cryptocurrency market has had its fair share of highs and lows since the fourth quarter of 2017.
Several of the most commonly traded cryptocurrencies have lately hit record lows due to the extreme volatility of the financial markets.
Despite this, the markets have staged a modest recovery over the last several weeks, suggesting they may have bottomed out.
The crypto winter has lasted too long, wiping out most of the best cryptocurrencies.
To be sure, 2021 is expected to be a banner year for cryptocurrencies, and after that, their value is expected to skyrocket.
After a large rise in value for two of the most well-known cryptocurrencies over the last couple of months, the overall value of the cryptocurrency market has once again surpassed the $1 trillion milestone.
Crypto You Should Consider №1: Avalanche AVAX
MarketCap: $5,441,247,690
Position on CMC: #16
Current PricePrice: $18.40
Among blockchain networks, Avalanche AVAX has a short time-to-finality for smart contracts, making it one of the quickest.
The network is an open-source, programmable, smart-contracts platform designed specifically for low-cost, efficient, solidity-compatible decentralized applications (dApps).
Users of Avalanche will be pleased to learn that Coinbase’s COIN wallet now supports in-app, direct exchanges of tokens connected to Avalanche.
Because of this, Avalanche tokens may be immediately exchanged immediately with fewer hassles and at cheaper costs.
Avalanche is one of the largest cryptocurrencies in the world by market value, at over $5 billion, and should continue growing rapidly.
As a result of an intriguing whistleblower story published this past week, AVAX has taken quite a beating.
The firm has denied the charges made in this study, labeling them as “categorically incorrect.”
Considering all the evidence, I conclude that Avalanche’s promising future outweighs the report’s identified risks.
However, like with any coin, AVAX investors should practice sound risk management.
Also, See: 3 Crypto You Should Consider Ahead of 2023
Crypto You Should Consider №2: Decentraland MANA
MarketCap: $1,340,674,236
Position on CMC: #40
Current PricePrice: $0.7227
Investing in Decentraland MANA is one of the most exciting things you can do for the metaverse since it is essentially a virtual environment controlled by its users.
In addition to the option to buy virtual property on the platform, users may also use MANA tokens to unlock exclusive content and enhance their gaming experience in Decentraland.
The network also has a monthly user base of over 250,000 individuals and grew steadily up until the onset of the crypto winter.
Due to the exponential increase in the cost of virtual real estate over the last year, MANA has reached an all-time high in value.
Incredibly, a piece of virtual real estate posted and sold on the marketplace last year raked in a whopping $2.4 million.
However, everything has changed dramatically due to the crypto winter, with sales increasing by a meager 0.97% in July.
Even so, it presents a long-term opportunity to acquire property at a substantial discount.
Also, See: 3 Best Cryptocurrency to Invest in September 2022 and Beyond
Crypto You Should Consider №3: Monero XMR
MarketCap: $2,627,041,935
Position on CMC: #27
Current PricePrice: $144.24
Taxes on cryptocurrency investments and trades must be paid in line with local law. Americans (and I’m assuming that’s the majority of you) should know that the Internal Revenue Service is not someone to mess with.
It’s worth noting that the U.S. Treasury Department could expand its agent pool shortly.
Due to the Inflation Reduction Act, the IRS received an additional $80 billion in funds (IRS).
It will lead to more efforts being made to collect overdue taxes from the wealthy in the United States.
It’s worth noting that Monero XMR has been more steady than the market average recently.
The fact that Monero XMR is intended to promote private and anonymous transactions is not surprising.
The IRS even had a bounty for anybody who could figure out how to hack their ledger system.
From what I understand, the tax authority responsible for regulating cryptocurrency is still searching for a solution to the Monero problem.
This means that XMR may be an interesting name to acquire for extremely cynical reasons since it is probable that some unsavory people are interested in it.
Also, See: 3 Cryptos to Watch as 2023 Approaches
To Sum it Up
In the past, it’s been difficult to determine which cryptocurrency is the best to invest in.
There have been some very high and very low points in the bitcoin market since the fourth quarter of 2017.
Due to the severe volatility of the financial markets, the value of several of the most widely traded cryptocurrencies has recently plummeted to all-time lows.
Although this is the case, the markets have shown signs of life over the last several weeks, raising hopes that they may finally reach rock bottom.
Comment on the aforementioned “Crypto jewels” and give us your thoughts.
Financial Disclaimer
It is crucial to stress that nothing in this post should be interpreted as financial or investment advice.
The author’s views alone are expressed in this post; thus, they shouldn’t be construed as suggestions for financial decisions or investments.
There are no assurances of any data’s trustworthiness, completeness, or correctness; it is all supplied “as is.”
The price of bitcoin has recently seen extreme changes due to its severe instability.
Investors should be aware of any local regulations and follow them before deciding whether or not to invest in a cryptocurrency.