The crypto market is in for an eventful 2022. With so many collapses and bankruptcies seen this year, it’s no surprise that the market is ending on a low note. However, as another year begins, there are many cryptocurrencies in the space that offer opportunities in the coming year. This is a list of proven assets and will continue to prove them.
Bitcoin (BTC)
Naturally, bitcoin tops the list of cryptos to watch out for in the new year. Being the pioneer of the space, digital assets still have a large market share, as well as many bull races with performances that exceed anyone’s expectations.
When looking at digital assets to invest in in the new year, look no further than BTC. This is the closest investment to ‘certain’ that crypto users can get. In addition, it makes a good hedge against inflation because of its higher performance. If the asset becomes fundamental in the new year, then it could be a good price.
Ethereum (ETH)
After bitcoin, the next best thing in the crypto market remains ethereum. There are even arguments that this asset is better than previous bitcoins due to its many use cases, including but not limited to the popular decentralized finance (DeFi) and non-fungible token (NFT) sectors.
As well as this asset has performed in the use cases, it has become a good investment. It reached a high of $4,800 before the bear market started, and while it is down more than 70% from its all-time high, ETH still packs a punch and is one of the digital assets expected to do well in the next bull market. .
Dogecoin (DOGE)
At first glance, the appearance of dogecoin on this list may seem out of place but it has earned its place. The meme coin has gone from being a joke among social media users to becoming one of the most popular cryptocurrencies in the world. Continue to enjoy the support of Elon Musk and Matt Wallace who show no signs of slowing down.
DOGE’s social media followers also added more than 3 million followers on Twitter, with more than 4.5 million followers. This means that there is still a lot of faith in digital assets despite the current low prices. And as the 2021 bull shows, it is not necessarily the means that determine if a cryptocurrency will do well, but the amount of support it receives from investors. This makes dogecoin a fairly advanced bet.
Binance Coin (BNB)
Binance Coin (BNB) is probably one of the best performers in the bull market. Even in bear markets, the coin continues to outperform its larger counterparts such as bitcoin and ethereum. BNB is backed by Binance, which is the world’s largest crypto exchange by trading volume. Being connected to such a formidable business has done wonders for the asset, which is now the 5th largest cryptocurrency in the world by market cap.
BNB holds great promise in 2023 as Binance tackles targeted FUD. The crypto exchange also showed users that it was able to withstand the type of bank that caused the bankruptcy of FTX, which indicates that it remains in a strong position. As Binance continues to dominate, so does its native coin, BNB.
XRP (XRP)
XRP is one digital asset whose growth has stalled due to the Securities and Exchange Commission’s case against Ripple. However, with the case having been in court for so long, the end may be near. If Ripple were to win the SEC in this case, the price of XRP would explode in response.
One problem with this option is that unlike the others on this list, there is a lot to lose if the case goes to the SEC. So investing in XRP is more than a gamble on how the Ripple v SEC case will turn out. There is potential for a lot of profit but also, potential for a lot of losses with this one.
Bonus (Shiba Inu)
Shiba Inu received an honorable mention in this list due to its performance in 2021. The meme coin has experienced many dips and crashes that caused the majority of its owners to lose, but the large and strong community shows that there is still something left. save with this digital asset.
Market cap drops to $751 billion | Source: Crypto Total Market Cap on TradingView.com
Option images from TechStory, charts from TradingView.com