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Last year was a blast for cryptocurrencies in general. Aside from the major coins like Bitcoin and Ethereum, meme coins like Dogecoin and Shiba who were previously ignored also reached new heights. Last year was also a year for NFTs and establishing the start of the so called "Metaverse". Decentralized Finance also gained more traction as new altcoins compete with Ethereum for its market share. Today, I will share a my three personal cryptocurrency picks that I think will become popular for 2022.
1. MATIC (Polygon)
The MATIC token from Polygon Network is not a new player in the field. It is a protocol which aims to connect Ethereum-compatible blockchain networks. Like Ethereum, it also allows you to deploy smart contracts. One of the advantages of the Polygon Network I like is the low amount of transaction fees. This makes it very suitable for small to medium investors who are interested to participate in Decentralized Finance. Polygon is also gaining more adoption as tokens previously available in Ethereum are moving to Polygon especially now that Ethereum gas prices are very high. Due to this advantage, I expect the MATIC token to continually increase in value throughout the year.
2. DOT (Polkadot)
Polkadot is a protocol that enables cross-blockchain transfers of both tokens and assets. It is a sharded blockchain which allows it to connect several chains together in a single network. This allows the chains to process transactions in parallel and exchange data across chains with guaranteed security. Just last year, Polkadot just started auctioning its parachains to interested blockchains. I believe that the Polkadot Network will continue to grow more due to its unique features and will attract more DeFi projects.
3. ETH (Ethereum)
Ethereum is already a big player in the cryptocurrency space but I think it will gain more traction this year. Despite the high transaction fees at the moment, I am still optimistic for Ethereum for 2022 because of the expected launch of ETH 2.0. This will replace the currently energy-heavy mining of the network into a PoS which will allow for more transactions to be executed at a time. This upgrade is expected to lower transaction fees and therefore would attract more investors. The structure of ETH 2.0 will be similar to Polkadot with the integration of shard chains which will expand its ability to process transactions.
This post serves as my official entry to #MyCryptoOutlook2022 Bityard Writing Contest. Bityard is a leading crypto exchange that provides safe, simple, and fast crypto trading for investors. Learn more about Bityard here: CLICK HERE
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