2021 will go down in history as a good year for stocks, but will be remembered as a great year for cryptocurrencies.
Many digital currencies have seen their value rise over the past 12 months, despite a pullback at the end of the year.
Now investors are wondering how it can go in 2022, but it is obvious that there are no guarantees of any kind as to how the various assets will move.
From the pages of The Motley Fool, Keith Speights reports three explosive cryptocurrencies that could skyrocket in 2022.
Kadena belongs to an exclusive group of cryptocurrencies that gained over 5,000% in 2021: the digital currency ended the year well with a rise of well over 8,000%.
Like Bitcoin, Kadena’s blockchain also uses a Proof of Work protocol.
The big drawback of most blockchains of this type is that they are not scalable, but this is not a problem for Kadena which uses a multi-chain architecture with enormous scalability.
Kadena is currently able to process 480,000 transactions per second, compared to around 7 for Bitcoin.
Developers are also drawn to Kadena’s super low cost – businesses can completely eliminate transaction fees for customers by using Kadena’s crypto service station.
Meanwhile, consumers pay minimal transaction fees.
Even after its impressive performance in 2021, Kadena is still at number 63 on CoinMarketCap’s list of the best cryptocurrencies by market cap.
According to Speights, Kadena certainly has the potential to climb significantly higher on this ranking.
Avalanche experienced a breakthrough year in 2021, with its native token climbing more than 3,000%.
Avalanche currently sits at number 11 on CoinMarketCap’s ranking of the best cryptocurrencies by market capitalization.
The Avalanche blockchain is incredibly fast and is capable of processing more than 4,500 transactions per second.
Nearly 160 projects are already in the Avalan ecosystem generating more revenue from decentralized applications (dApps) than Solana.
Keith Speights’ idea is that blockchain could see accelerated adoption in 2022.
Ethereum grew by more than 400% in 2021, and that might seem a bit meager compared to the jaw-dropping gains of Kadena and Avalanche.
However, Ethereum’s explosive growth potential should not be underestimated, as it has had to deal with significant challenges in recent months.
Its network is slow, with the ability to only process around 14 transactions per second.
Ethereum’s high transaction fees have also led some developers to switch to other blockchains.
The change is on the way, however, as the Ethereum 2.0 update should allow the blockchain to handle 100,000 transactions per second. Transaction fees will also be drastically reduced and these improvements should attract more developers to the already widely used Ethereum blockchain.
Ethereum’s market capitalization of nearly 445 billion is currently second only to that of Bitcoin.
Will he be able to take the top spot in 2022? According to Speights, this is also possible, but if it doesn’t, Ethereum could still skyrocket in 2022.
Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.
My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.