Follow Zycrypto, 2021 is a great year for most cryptocurrencies. A lot of altcoins have posted impressive performances in terms of valuation and adoption of blockchains. Some of this year’s best performers are looking to extend their spectacular price growth into 2022.
Five altcoins to watch in 2022
Several altcoins look promising in 2022 in terms of price performance and adoption in 2021 and the promise they hold for the future.
Dogecoin (DOGE) is one such altcoin. Cryptocurrencies created as an imitation of Bitcoin have been impressive this year. The price is up about 2,956.4 percent to date (YTD). It has demonstrated price-wise potential as it rallied to an all-time high (ATH) price of $0.75 in May.
While the current price is around $0.19, a 74.6% drop from its all-time high, the meme-coin still holds promise in the new year. This is due to its continued support from key market players including Tesla CEO Elon Musk and Mark Cuban, the billionaire owner of the Dallas Mavericks.
The Tesla boss even recently announced plans to accept DOGE for the electric vehicle company’s merchandise. This is likely to happen in 2022 and will be the main driver for Dogecoin adoption and price appreciation.
Cardano (ADA) also had an impressive year in terms of price and adoption. As of now, ADA is up 698.4%. The Cardano network’s native coin hit an all-time high of around $3 in September after the network hit a major milestone of enabling smart contract capabilities.
Currently, ADA is trading at around $1.43, – down 53.1% from its all-time high price. However, the price is expected to increase as the blockchain’s new smart contract capabilities come into play as a multitude of DeFi platforms are effectively under development in the new year.
Another altcoin expected to rise in the new year is Ripple’s XRP. The digital asset is up 317.2% year-to-date. According to Ripple CEO Brad Garlinghouse, 2021 is one of the best years for the blockchain network as its adoption has gained new bases around the world.
Ripple has seen its XRP-based On-demand liquidity (ODL) service being adopted by key international companies including the UAE and Japan. Ripple has also had the privilege of partnering with a number of key players to bring new use cases, including NFTs and CBDC issuance, to the XRP network.
Since all of this happened despite the lawsuit with the SEC, market participants are speculating that when the case, which is predicted to be favorable for Ripple, ends in 2022, the price of XRP will witness expect an explosive rally that will propel it to new highs.
Similarly, relatively nascent altcoins Shiba Inu (SHIB) and Solana (SOL) which have gained 2,997% and 12.726% respectively, also look very promising in the new year.
Both see a lot of adoption in 2021, especially from institutional investors. The Solana Network, which is considered “Ethereum Killer” has created a strong competition for Ethereum but there is still a long way to go to keep up with the second largest cryptocurrency. Prices of SOLs, as well as SHIBs, are expected to rise as their adoption soars in the new year.
The views and opinions expressed in this article are for informational purposes only and are not investment advice. Every investment and trading move carries risks, you should do your own research before making a decision.