The cryptocurrency world has seen big advancement in 2021, particularly when it comes to growth in adoption and the total market capitalization. The cryptocurrency world is also more diversified, with altcoins providing some of the best returns. It’s sparked a discussion about what the best cryptos are in the market today.
The diversification is indicated by the trading volumes. Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD) have dominance of nearly 60%. There’s been a significant increase in trading volume in altcoins.
This diversification is likely to sustain in 2022 with dozens of interesting projects and strong use cases. I believe that cryptocurrencies will continue to trend higher in 2022.
Investors need to create a portfolio that’s a mix of well-known coins and emerging names. This column will discuss three of the best cryptos to buy from emerging names and four of the best cryptos from relatively established names with higher market capitalizations.
Let’s take a deeper look into the seven best cryptos to buy for 2022.
- iBuffer Token (CCC:IBFR-USD)
- Depo (CCC:DEPO-USD)
- Cryptalk (CCC:CRYP-USD)
- Akash Network (CCC:AKT-USD)
- Dogecoin (CCC:DOGE-USD)
- Binance Coin (CCC:BNB-USD)
- Zilliqa (CCC:ZIL-USD)
Best Cryptos for 2022: iBuffer Token (IBFR-USD)
The world of cryptocurrency is similar to equities in the sense that multi-fold returns are unlikely from big names. It’s growth stocks or early-stage tokens that deliver 10x or 100x returns.
IBFR looks promising among projects that are at a nascent stage. Goldman Sachs recently opined that the crypto options market is the “next big step” for institutional adoption.
This is relevant here with iBuffer, a gamified options trading platform with multi-assets option trading and prediction.
Investors can buy and settle options on multiple assets directly against a liquidity pool. Therefore, this concept does not require a counterparty (options writer). The options traded on iBuffer are American style options, which can be exercised anytime before expiry.
Some of the supported assets on iBuffer include the likes of Tesla (NASDAQ:TSLA), Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). In the commodities, the project already supports gold for options trading. Additionally, a currency options launch is also on the cards.
In terms of the roadmap, iBuffer aims to have multi cryptocurrency and token options and on-chain stock options by Q1 2022. With NFTs getting bigger, iBuffer also plans to trade predictions in the foreseeable future.
Overall, IBFR token looks attractive and, as more assets are available for trading, the token is likely to trend higher. I would not be surprised if the token is a ten-bagger from current levels.
Depo is another interesting name among the best cryptos to buy for 2022. The project claims to be the first decentralized multi-market aggregator.
The project allows investors to trade, store and manage digital assets across the centralized, decentralized and NFT marketplace. In general, projects are limited to being aggregators in either centralized or the decentralized space. However, for Depo, that’s the differentiating factor.
A key technology for the company is smart order routing. When an investor trades using Depo, the technology will enable investors to receive the best possible deal from the global cryptocurrency market.
In terms of the roadmap, Depo has some attractive features lined-up for 2022. As an example, institutional level trading tools will be available by Q2 2022. Similarly, by Q3 2022, the company will release its proprietary CEX, DEX & NFT marketplace.
Depo has a total supply of one billion tokens. However, 30% of the tokens are locked in Unicrypt for 12-months. Holding Depo coin will also allow investors to share a part of the revenue in the foreseeable future.
It’s worth noting that Depo coin has surged by over 90% in the last two-weeks. I believe that the rally will sustain in 2022. Investors can consider accumulating on dips.
Best Cryptos for 2022: Cryptalk (CRYP-USD)
A small project can be likened to venture capital investing. However, investors should avoid a big plunge in early-stage coins.
The Cryptalk project seems promising with a vision of making cryptocurrency investing safer.
With the rise in cryptocurrencies, there have been an increasing number of scams and hacks. One of the mediums for talking about projects is Telegram. However, it’s flooded with fake project groups (duplicate profiles and community channels) that scam new investors.
Cryptalk aims to be the single stop for crypto messaging. It’s likely to be the world’s first social platform designed specifically for the crypto space.
The key differentiating factor between it and other similar ventures is crypto projects listed on Cryptalk messenger are vetted. Therefore, this eliminates scams through fake groups and communities.
In terms of the roadmap, Cryptalk is currently looking for partnerships. Once the app is launched in 2022, marketing and promotions will follow. The project is targeting growth in Europe to expand the user base.
Overall, CRYP coin looks attractive for multi-fold returns in 2022. The vision to protect investors is likely to see buyers increase as scams increase with crypto popularity.
Akash Network (AKT-USD)
Coming to the relatively bigger names among best cryptos for 2022, AKT coin is worth considering. The global cloud business has been growing at a healthy pace. In terms of valuations, there are already companies or business segments that are worth billions of dollars.
Akash Network project was conceptualized with the aim of brining decentralized cloud computing to the cryptocurrency world. The project already commands a fully diluted valuation of over $700 million.
It’s worth noting that AKT coin is already lower by 70% from all-time highs over $8. One reason is profit booking. Another reason is dilution on a sustained basis. However, at current valuations, the project looks attractive for long-term investors.
One reason to be bullish on Akash is the fact that the project is providing cloud service at a significantly lower cost as compared to Amazon or Google (NASDAQ:GOOG, NASDAQ:GOOGL). It’s therefore not surprising that the total deployments on Akash Network have been steadily increasing.
In terms of project development, Akash would be supporting persistent storage in Q1 2022. This is “ideal for data-intensive workloads such as blockchain nodes, Solana (CCC:SOL-USD) and Ethereum.”
Overall, AKT coin is a potential doubler in the next 6-12 months. Furthermore, it’s a project that’s worth holding beyond 2022.
Best Cryptos for 2022: Dogecoin (DOGE-USD)
In general, I am not focused on meme coins. However, there can be exceptions when it comes to potential money-making opportunities.
After touching all-time highs of 73 cents in May 2021, Dogecoin has been in a steady downtrend. It seems very likely that the meme coin has bottomed out.
A key catalyst for Dogecoin in 2022 is the backing of Elon Musk.
Musk believes that Dogecoin is better than Bitcoin from the perspective of transaction cost. It therefore makes more sense as a currency than Bitcoin. Musk has also indicated that Tesla will start accepting Dogecoin as a payment method for some merchandise.
Another point to note is that in terms of holders, Dogecoin has a wider adoption as compared to Shiba Inu (CCC:SHIB-USD).
For meme coins, the community size and community trust matters from a value perspective. Dogecoin seems well positioned on that front. As a matter of fact, Dogecoin has more holders in the U.S. than Bitcoin or Ethereum.
Overall, after an extended period of consolidation, Dogecoin seems positioned for a rally in 2022. The meme coin can potentially double once Tesla starts accepting it for merchandise payments.
Binance Coin (BNB-USD)
Around Christmas 2020, BNB coin was trading at $33. It’s seen a big rally to current levels of $520 and a fully diluted valuation of $87 billion. BNB coin is also a good example of what quality coins can deliver in the cryptocurrency space. It’s not just about meme coins and speculation.
I believe that Binance is positioned for further growth in the next few years and BNB coin has ample upside in 2022. It’s worth noting that Binance is already the top cryptocurrency exchange in terms of volume. With growing adoption of cryptocurrencies, trading volumes will continue to swell.
In 2019, Binance also acquired India’s leading digital asset platform, WazirX (CCC:WRX-USD). This is likely to be a long-term value creator with India already having the largest number of cryptocurrency holders in the world.
Recently, Binance has also partnered with the Dubai World Trade Centre Authority to establish an industrial hub for global virtual assets. This will help a wide range of digital currencies and assets to be licensed in Dubai.
The cryptocurrency exchange has also established Binance Labs. The latter invests in attractive cryptocurrency projects globally. It’s similar to venture capital investing.
Therefore, Binance is spreading wings beyond just being a cryptocurrency exchange. BNB coin is likely to remain in an uptrend in the coming years if sentiments remain positive for cryptocurrencies.
Best Cryptos for 2022: Zilliqa (ZIL-USD)
ZIL token had touched highs of nearly 26 cents in May 2021. After a sharp correction, the token recently touched lows of six cents. However, it seems that the correction is over and ZIL token has been gradually trending higher. I am bullish on ZIL touching new highs in 2022.
As an overview, ZIL is a native token for the Zilliqa blockchain. The blockchain is used to enable and scale decentralized apps (dApps) for financial services, NFT marketplaces and other related services. In addition, ZIL can also be used as a payment mode for products, services and trading of NFTs.
One of the key reasons to like Zilliqa blockchain is the relative cost advantage. According to the project, “ZIL fees are 227 times lower than ETH” for native token transfer. For fungible and non-fungible token transfer, the fees are 60 times and 81.5 times lower respectively.
For 2022, the metaverse is likely to be another big investment theme. In the cryptocurrency world, Zilliqa plans entry into metaverse with a “layer-1 DApp development protocol.” The project will leverage on its efficiency and transaction capability by constructing a metaverse.
Overall, ZIL token seems positioned for a strong comeback in 2022 and would be in my list of top cryptos to buy.
On the date of publication, Faisal Humayun did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modelling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.