By : Profectus Magazine / 14 Mar 2022 / Finance / Cryptocurrency
Currently, there are over 18,000 cryptocurrencies in existence as of March 2022 which has put many crypto investors in a dilemma. In general, cryptocurrencies with smaller market capitalization are more volatile than large and more established digital tokens like Bitcoin and Ethereum. With Russia-Ukraine War and China banning crypto, top cryptocurrencies including Bitcoin are in bearish mode. Therefore, many crypto investors are relying on the top most promising cryptocurrencies in order to gain higher returns.
Here are the 10 Most Promising Cryptocurrencies of March 2022
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. It is the first successful blockchain-based currency launched in 2009. Although many altcoins have emerged recently, but Bitcoin still remain the dominant in crypto world.
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin. Thousands of tokens run on the Ethereum network, and it is these tokens that spurred the initial coin offering (ICO) movement. It is one of the most promising cryptocurrencies, you should consider buying in March 2022.
Solana is a public blockchain platform with smart contract functionality. Its native cryptocurrency is SOL. Solana works to one up Ethereum by providing faster transaction times and cheaper fees. Similar to Ethereum, its underlying blockchain network acts as a medium for developers to build and host DApps. However, it is still experiencing teething problems that have led to a number of outages. Nevertheless, its technology is gathering plentiful support.
Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA. It describes itself as a more secure and scalable way to maintain decentralization. It is one of the best cryptocurrencies to invest in now, which offers a multi-asset ledger and verifiable smart contracts. Apart from being the hottest cryptocurrency in the market, it is also a technological platform that helps run financial applications. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a "joke", making fun of the wild speculation in cryptocurrencies at the time. It is considered both the first "meme coin", and, more specifically, the first "dog coin". Although Dogecoin was launched in 2013, its price skyrocketed only in 2021. Tesla CEO Elon Musk has personal interest in Dogecoin, which helped drive its surge in value and popularity before it fell back dramatically in the second half of the last year. Now many crypto investors are betting on this cryptocurrency.
Polygon is a decentralised Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing on security. Polygon is one of the top cryptocurrencies for building and connecting Ethereum-compatible blockchain networks. It provides scalable solutions on Ethereum, supporting a multi-chain Ethereum ecosystem. Many crypto investors believe that Polygon has great potential and will give higher returns in the future.
Terra is an open-source blockchain platform for algorithmic stablecoins, that are pegged against traditional fiat. Terra's native currency Luna is a versatile token in the network that is extremely important in the rise of the terra platform. The original white paper for Terra lists the co-founder of Terra Do Kwon as one of the authors. The report proposed a cryptocurrency named Terra that is both price-stable and growth-driven, based on the view that a price-stable cryptocurrency combines the best features of fiat currencies and Bitcoin (BTC)
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. XRP, a cryptocurrency tailored to work on the Ripple network, is consistently listed among the top five cryptocurrencies by market capitalization. Despite its great technology and popularity, Ripple is currently tied up in legal troubles with the Securities and Exchange Commission (SEC), which is expected to end this year. Which makes XRP one of the most promising Cryptocurreny to invest in March 2022.
Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services. The Binance coin is expected to boost the operation of the Binance exchange and its ecosystem. It supports multiple utilities such as trading fees, exchanges fees, listing fees, and any other fees on the Binance exchange.
Shiba Inu token is a decentralized cryptocurrency created in August 2020 by an anonymous person or group known as "Ryoshi" After gaining popularity in 2021, Shiba Inu held the ground in 2022 as well. Last year, it briefly overtook Dogecoin, the native memecoin, and also entered the top 10 list. Crypto investors are keeping high hopes with Shiba Inu which makes it one of the most promising cryptocurrencies of March 2022.
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