A crypto exchange Crypto.com confirmed that hackers stole nearly $34 million during Monday's hack. In a Tuesday update, the exchange revealed that hackers stole 443.93 bitcoin ($18.7 million), 4835.25 ether ($15.2 million) and approximately $66,200 in USD. The company faced criticism over its communication after the incident. The company's CEO only confirmed the hack on Wednesday, three days after it took place. In total, the hack affected 483 users. However, Crypto.com said that they fully reimbursed all of them. The…
Overall, 2021 proved fruitful for cryptocurrencies. As a result, many cryptos have reached new all-time highs and increasingly captured the interest of global financial institutions.
The ride of Bitcoin towards $ 70,000 has monopolized the attention of enthusiasts. The same is true for Ethereum, with ETH outperforming BTC.
The results of the crypto memes Shiba Inu and Dogecoin were also a surprise. Furthermore, we observed the advance of digital currencies defined as “Ethereum killers” such as Polkadot, Solana, and Chainlink. By the end of 2021, many other tokens pursuing the improvement of the decentralized finance ecosystem came to life.
This article will talk about the likely evolution of prices in the crypto sector in January 2022. The expectation is that the coins that will achieve the best performances in January will obtain excellent results throughout the rest of the year.
In 2021, the race of Ether (ETH) was consolidated, capable of reaching half the capitalization of Bitcoin. ETH run kicked off at the start of the year, growing from around $ 600 to more than $ 4,000. The highest market price achieved by ETH is $ 4,891, and it will be interesting to see how this cryptocurrency will perform in 2022.
The Ethereum ecosystem attracts significant attention from investors, mainly thanks to the proposed move to the Proof-of-Stake (POS) protocol. Switching from a Proof-of-Work (POW) system to a POS system makes the entire network way less energy-intensive, with more eco-friendly technology.
Ethereum technology is increasingly at the center of the spread of cryptocurrencies and blockchain solutions. Many new cryptocurrencies use Ethereum’s ERC-20 system, and many decentralized apps are born on this blockchain.
The transition from a POW to a POS system is part of the excellent ETH 2.0 project. It announced the initiative in 2020, but it is unclear when it will implement the ecosystem upgrade.
The market expects to see news on this area in 2022, making ETH one of the most exciting cryptos for next year.
Binance Coin (BNB)
Binance Coin (BNB) was born in 2017 as an ERC token on the Ethereum network and then moved to Binance Smart Chain. Its name suggests the close link with the Binance exchange, of which it is the official token used to pay transaction fees.
BNB is a utility token that has grown in importance in cryptocurrencies in 2021. The rise in the price of BNB appears to be closely linked to the popularity of the Chinese exchange.
The remarkable growth in the price of BNB is mainly due to:
- the number of daily transactions registered on Binance
- the relevance that this exchange is obtaining on the main DeFi markets.
Those who believe in the future of the Chinese exchange will consider it an intelligent investment for 2022 to buy BNB.
The idea of the founders of Solana (SOL) is to exploit the excellent intuition of the creators of Ethereum. With a proprietary blockchain and its native crypto, Solana aims to solve some of the significant problems of its predecessors.
Solana is one of the altcoins considered by the market as an “Ethereum killer”, thanks to its transaction speed. Although it is still too early to understand whether this naming can be accurate, the SOL project is one of the most interesting next years.
Solana was born as a blockchain network on January 1, 2018, by international blockchain developers and experts. SOL is one of the cryptocurrencies that allows the most significant number of transactions per second to date.
This is essential for interesting future developments in the project’s success. It now seems evident that a slow cryptocurrency is destined to be ditched by the leading competitors on the market.
TabTrader Token (TTT)
Founded in 2016, TabTrader (TTT) is a Dutch player offering an exchange aggregation platform. In particular, it brings together 40 crypto-exchanges, including the most active ones in the world (such as, for example, Coinbase).
The TTT token powers the platform and has a multitude of uses. TTT holders can use this coin for in-app purchases, pay transaction fees and participate in system governance.
TabTrader has ambitious plans for TTT, including holding trading competitions with prizes offered in the native token. Another project allows trading mining, which would lead users to receive a receipt for every trade made on the platform.
The TTT idea is revolutionary, and, likely, 2022 will also bring satisfaction to its investors.
Ripple (XRP) is a fintech company offering global payment solutions through its “RippleNet” network. In addition, the Ripple platform promotes its native cryptocurrency called “XRP.”
Although Ripple uses both the XRP ledger and XRP coins, these operate independently from the company. Furthermore, XRP does not use the famous Proof of Work or Proof of Stake models. Instead, it works solely on a protocol consensus algorithm that validates accounts and transfers payments through independent nodes.
Ripple is a big name that has been on the cryptocurrency market for several years. One reason that prompts us to talk about it is that 2022 is related to a legal battle with the SEC. The US financial authority accused Ripple of selling unregistered financial assets in the form of tokens.
Ripple’s objection has famously been that XRP is not a financial asset. A major legal battle broke out from this point on, pushing the XRP price down.
The legal dispute between Ripple and the SEC is not yet over, which is why 2022 could prove to be an exciting year for XRP. Any positive resolution between the two parties would positively affect the token’s market price.
Cryptocurrencies 2022 – What should you expect from the future?
Making an accurate forecast of the crypto market in 2022 would be difficult. Still, it is best to keep an eye on the coins we’ve just mentioned. In addition, new blockchain projects (think, for example, of the Metaverse) could bring new players to the market, and we will give readers any critical updates on the matter.
The NFT market remains one of the hottest topics in the crypto universe, and we expect it to be a significant investment catalyst in 2022 as well. Furthermore, the arrival of ETH 2.0 could have a stimulating effect on the entire sector.