The Best Three Cryptocurrencies To Keep An Eye On In 2022

June

5

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Bitcoin and the more significant crypto market have had a terrible eight months. The risk of a massive shift in the regulatory landscape impacted cryptocurrencies heavily in late 2021.

Governments all through the globe have asked for a worldwide regulatory framework, such as the International Monetary Fund (IMF).

Inflation, recession worries, and a hawkish Fed have added to the downwards pressure this year.

The market’s first top 10 cryptocurrency crash happened to make matters worse. The breakdowns of TerraUSD (UST) and Terra LUNA prompted new requests for enhanced regulatory supervision.

The total crypto market cap dropped from an all-time high of $3,009 billion in November to a low of $1,082 billion in May before recovering. With the overall market capitalization still down $1,809 billion, there exist possibilities for those who can resist the demands of cryptocurrency trading.

For the year 2022, we’ve selected three cryptocurrencies.

Bitcoin (BTC), Binance Coin (BNB), and Solana are the three (SOL).

Bitcoin (BTC)

Bitcoin is the most valuable cryptocurrency in market capitalization, and it appeals to retail and institutional investors. Notably, bitcoin is not just the crypto market’s bellwether but also the most secure, thanks to a concentrated investor base known as bitcoin whales.

Bitcoin has declined 62.5 percent from its all-time high of $68,979 on November 10 to a current low of $25,836 before finding support. Bitcoin has fallen 21% year to date at $29,680.

Bitcoin stays the target cryptocurrency for both seasoned and beginner investors, with acceptance gaining traction in various jurisdictions.

For the time being, the technical indicators are bearish.

Binance Coin (BNB)

Binance Coin is the native coin of crypto exchange Binance and is a top-five cryptocurrency with a market valuation of $48.8 billion.

When rival platforms are freezing or cutting headcounts, the world’s most excellent crypto exchange is increasing.

Binance acquired a regulatory license in France, Italy, Dubai, Abu Dhabi, and Bahrain to provide its services. With trading volumes far above those of its competitors, the exchange and its native currency are expected to emerge stronger from the crypto winter.

BinanceChain, a community-driven, open-sourced, and decentralized ecosystem, is another exciting element of Binance. The governance token is Binance Coin.

Investors will find BNB to be a significant investment. BNB has decreased 70% from an all-time high of $693.73 on November 10 to a current-year low of $206.62 on May 12.

On June 3, BNB was down 42 percent year to date, to $298.18.

The technical signs are all hanging down.

Solana (SOL)

Solana is a top ten cryptocurrency by market cap, with a market value of $12.78 billion, and recently positioned ninth on CoinMarketCap.

SOL is the only Web3 in the top three, but Decentraland (MANA) and The Sandbox are competitors (SAND).

SOL is a practicable alternative to Ethereum due to its low transaction fees and solid presence in the Web3 area (ETH). An ecosystem boosts SOL’s attraction with many fresh projects and desires from DeFi investors.

Like the preceding two cryptos, Solana has sustained substantial losses since its high in 2021.

Solana declined 86 percent from an all-time high of $259.95 on November 6 to a current-year low of $35.72 on June 4.

Solana was down 78 percent year to year, finishing at $38.23 on June 3.

For the time being, the technical indicators are bearish.

 

About the author, Awi Khan

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