Promising Cryptos In 2022
2021 saw rapid advancement in not only cryptocurrencies but their capabilities. At the star to the year we started to see a slow progression upwards which started to mimic the rallies of 2017 and something was sparking it. It wasn't one thing this time either it's been many and many of those now stick with us today. NFTs, Gaming, DeFi are the primary focuses right now and surely will expand. That's far different from the 2017 rally which was simply hype and speculation on layer 2 tokens.
*This article is for entertainment purposes only and is not financial advice.
Ethereum
For me Ethereum will always be a go to at least for the next few years. It's one of the most promising cryptos yet in terms of what it offers and provides. 2022 also is the year we should see rather rapid advancement of Ethereum in terms of development, moving to pos (proof of stake) and the continued development that happens on it. Not only does it support the largest in terms of 2nd layer tokens but they are leaders in many aspects including DeFi, NFTs and the first to have smart contracts.
Once they figure out the fees issue and speed perhaps some time in 2022 that might be when they move towards gaming but for now I believe gaming will be overtaken by other chains such as WAX, Hive etc which are more resource based and not fee induced.
Hive
Hive has come a long way since it's $0.13 to it's rally of over $3. It now supports a heavy $1+ which is holding steady. I believe much of this comes down to development and the project hitting new levels. With development and layer 2 tokens on Hive, hive has become more of a resource base then anything else. To onboard new users and do transactions on the chain resources are need in the form of powered up hive.
We are also starting to see a drastic change to hive as to how those resource credits are used and given out in the form of a deliciated resource credit which could make things interesting.
I still believe Hive has a long way to go and this is only the start of things. As money value continues to pour into Hive which increases the price it will attract more developers and investors of the like to build on the platform and continue to push demand to new highs. I think that will start to move things away from how much Hive I can get and instead rewards will be in HBD.
IoTex
I caught wind of this one back when it was $0.02 and decided to jump in. I think what I like best about it is they almost sit and wait for other blockchains to do something and see how it pans out. If well they develop their own version of it. This was a business lesson I learned long ago and I firmly believe it applies to these blockchains. Just because you're first to do something does not mean you're going to get all the glory. In fact you'll most likely have huge expenses, many unknowns and more than likely arrows in your back as those who encouraged you own and made you make the mistakes first will take your successes and produce them their selves.
It sound scummy I know, but it's exactly the way things are! This is why IoTex is another one I'll be toying around with so more.
Polygon
I only really started to get into Polygon(matic) late this year because of the airdrop that will happen to CUB at some point. This new DeFi token will be on the Polygon system so it's going to cost Polygon to use it. That being said I started to research Polygon heavily and I have to say out of all the layer 2 scalable solutions polygon I believe will be ahead of the pack. That's because they are old developers that helped create Ethereum so in many cases Ethereum will support Polygon and recommend it. We have seen this on platforms already such as OpenSea. What's crazy though is even with this option we still see almost everyone still wanting to deal in ETH and not Polygon on OpenSea. It's pretty wild but goes to show you money talks and value talks fees etc don't matter all that much.
What are some of your picks for 2022 and why?