Crypto Debit Cards: How They Work and Why You may Need One
Cryptocurrencies are touted as and actually get their selling point from giving back control of…
The talk in town is that people reap big from cryptocurrency investing. New millionaires upon billionaires keep coming up and a sizeable number trace their fortunes to venturing in stocks of which cryptocurrency investment is critical.
Millennials are more open to trying out cryptocurrency investing only if to create big money, buy posh apartment, own lavish homes and become flamboyant in their own way. This level of ambition can be actualized if well aligned to information on the best performing cryptocurrency in the market today.
The performance of cryptocurrency offerings fluctuates from time to time. Knowing that the value of a cryptocurrency depends on the forces of supply and demand, a currency that is more on demand than the available supply tend to be an interesting investment option.
It even become more attractive to invest in a currency that is highly volatile so that the changes in prices provide an opportunity for marking a mark-up. In 2022 for example, some of the most attractive and best performing cryptocurrencies listed by the economic times include bitcoin, Ethereum, Solana, Dogecoin and Uniswap.
The performance of cryptocurrencies changes every often which then necessitate a long-term tracking to come up with a convincing average. Bitcoins alongside the many other altcoins derive their value and attractiveness from how they behave around uncertain times and trends of volatility. Here is a quick overview of the top cryptocurrencies that have shown resilience in 2022.
The cryptocurrency investors have had a great time in the recent years despite the volatility of the market as the overall perceptions on cryptocurrencies has been positive. The year before offered a remarkable success to the cryptocurrency industry despite the world being too occupied with the COVID-19 pandemic and its associated problems.
The best performing cryptocurrencies in the recent early months of this year 2022 have given their investors a chance to beat the market rate of return in commodities and equity. Altcoins, Meme currencies, and NFTs were the most shining investors in the past year with Shiba Inu and Meme coins hitting the conversation headlines.
Given the occurrence of the Russia-Ukraine war, there has been a surge in oil prices which has greatly led to a global inflation. Therefore, it is just prudent that investors must keep in mind the aspect of asset diversification. From a 101 economics perspective, capital diversification between debt, equity, money market sources, and mutual funds, cryptocurrency qualifies to be the best current alternative. Perhaps for obvious reasons, it is the experimental asset class for various investors with a high-risk ability.
From the recent findings, I have come to realise that not all the top-performing cryptos this year are from the usual big names. In the list of the best performing cryptocurrencies, are some new though fairly established new comers beating the market in terms of market capitalization.
Other than the necessary knowledge and exposure necessary for any investment decision, it is very vital that as an aspiring investor, or an existing investor in the crypto industry, you must carry out your individual research. Any investment decision is bound to depend upon your risk appetite if you would want to put in funds into cryptocurrencies.
However, I must say that given the fact that there are close to 10,000 cryptocurrencies in existence in this industry, there is a possibility that an investor is bound to get confused while they try to figure out which coins would fetch them fortunes.
Nevertheless, here are some of the best performing cryptocurrencies so far.
With a market capital of approximately $548 billion, the Bitcoin price has greatly been on the rise since it has become a household name. Established in 2009, it still remains to be the original cryptocurrency. It is not only popular for its ledger logging transactions and the fact that it operates on a blockchain distributed across a connection of thousands of computers. In 2016 May, one Bitcoin was going for $5 and as of May 2022, it was at about $29,000. This clearly indicates a huge percentage of growth.
I recently came into contact with the story of Javed khan an investor in Bitcoin who started trading here by accident. He started off in 2018 when one Bitcoin was going for $3,000 during which he was using Bitcoin as a method of money transfer but wherever he left Bitcoin in his wallet, the price would rise, and this is how he realized a business opportunity.
For Javed, if the price dropped, he would purchase more Bitcoin. Javed was however being careful to only invest money he could afford to lose. Then came 2020 when this investor managed to cash his profit which could amount to money to buy a Bentley. “I sent my mum a video from the showroom and she was very proud of me”.
Tether has a current market capital standing at $82 billion and unlike other crypto it is a stable coin backed by fiat currencies like the Euro and the US dollar. Basically, what it means here is that the Tether coin value should be more consistent than the other cryptos hence more attractive to investors who more cautious with the volatility of other traded coins. It is said Tether is currently the most popular ways of transferring and holding cryptocurrencies without price fluctuations.
Luna has also been on the record to post an impressive trail of success in 2021 to present by registering a 13,790%. In 2021, just at the start of the year, with a capital market standing at $0.65, in early March of the same year, this rose to $22. By the time the year clocked the sixth month, Luna posted another high and by early December it was standing at $81.
By the close of the year 2021, Luna had further crossed over registering a $100 and reaching for its all-time high of $103.33. It is not one amongst the top-performing cryptos that have done well in the year 2021/2022.
In 2021, SHIB witnessed a $43million percent increase in price from January to December. In the beginning, not many investors had much interest in the coin but with the May rally that happened, SHIB gained a necessary push which led the crypto to a more favourable position. The market capitalization stood at $40 billion.
Solana on the other hand, has gained a more than 10,000% growth from 2021. At the start of the year 2021 the price was at $1.52. However, by mid-May, it rose to $50, while between August and September it rose from $40 to $180. Further, in November and December the price reached a high of $259 and later stood at $172 for a longer time.