Many altcoins outperformed Bitcoin in 2021 and could do so again in 2022.
— Much smaller alt cryptocurrencies will grow faster than Bitcoin in the year to come, but the crypto king still has a place in every portfolio.
— Ethereum, Polygon, and Audius are interesting coins to watch.
Bitcoin (BTC) is the King of all cryptocurrencies and has produced truly incredible returns of almost 60,000,000% since it launched.
Over the past few months, it is slowing down in its old age and did not perform as well as many other top 300+ cryptocurrencies by market cap in 2021.
Not saying it performed badly. Bitcoin gained around 60% over the year,
In spite of its volatility, it is increasingly viewed as a type of digital gold.
A digital gold is something that won’t lose its worth over time.
All cryptocurrencies carry risk, but Bitcoin is safer than many smaller coins. It has been around the longest and has made the biggest strides in terms of adoption. However, it isn’t going to produce the same percentage gains as smaller coins.
These 3 cryptos all have potential to grow faster than Bitcoin in 2022. But don’t ignore the crypto giant — it still has a place in your portfolio.
Ethereum was the first cryptocurrency to launch smart contract capabilities, which allowed applications to be built on its network. As a result, it is the cornerstone of the booming decentralized finance and non-fungible token (NFT) industry. Unfortunately, it’s been the victim of its own success as the system suffers from high gas fees and network congestion.
we can expect strong growth from Ethereum in the year to come.
Polygon is a layer 2 solutions aggregator for Ethereum. Layer 2 solutions essentially sit on top of the original blockchain and improve performance. In Ethereum’s case, this can reduce gas fees and speed up transaction processing. Polygon solves an important problem facing many developers and traders on Ethereum’s network.
Even once the Eth2 upgrade is completed, Ethereum’s founder Vitalik Buterin says layer 2s will still have a crucial role to play in terms of scalability and interoperability. Plus, several big metaverse tokens — such as The Sandbox (SAND) and Decentraland (MANA) — are already partnering with Polygon. This is a good coin to put on your 2022 watchlist.
Other cryptocurrency sectors that will likely grow faster than Bitcoin are decentralized networks with real world use cases. Audius is a good example. It’s a decentralized music streaming platform that some say could be the next Spotify.
The idea is that musicians can upload their music directly to the platform and receive rewards. They don’t need to use record labels or other platforms that take a big chunk of the proceeds. Audius announced a partnership with TikTok in August 2021 and also has some solid crypto backers.
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