Beyond Bitcoin and Ethereum, these altcoins require concentration in 2022 – AMBCrypto News
The Federal Reserve’s Tapering announcement and recent crypto market performance have kept investor confidence low. However, several altcoins demand the attention of the community over the coming year.
IOTA, for example, has integrated smart contract capabilities through a beta on its platform in 2021. Additionally, it may also have several partnerships and launches planned in 2022.
Launch of the metaverse
According to a recent publication, the objective of the project is now to bring the developments to the main network. Along with that, we started seeing some NFT and metaverse projects built on IOTA. This includes early stage names like Disentangle and IOTA Plus.
That being said, crypto analyst Lark Davis believes the upcoming SOL metaverse, SOLICE, is also an interesting project. He said,
“Everyone is looking for the next sandbox, the next Decentraland. Well here is something that could be the version of that.
In Q1 2022, the platform is expected to introduce minigames in the Solice metaverse, along with the introduction of LAND staking and presales.
With that, the cryptocurrency’s next target could be Terra. Crypto-commentator Route 2 FI recently felt that LUNA may be undervalued while noting its interesting protocols like Anchor.
East $ LUNA undervalued? I think so, but I am a huge fan of the Terra ecosystem and I am biased.
If you want to read what could go wrong with Terra $ LUNA I recommend you read this thread: https://t.co/2tug3zGter
/ 5
– Route 2 FI (@ Route2FI) January 7, 2022
DeFi projects
Going forward, analyst Davis is also keeping Chainlink on their altcoin list for 2022, as alt adoption is at high levels. Over the past year, the Total Secure Value (TVS) of the Chainlink network has been reported to exceed $ 75 billion, which is an increase of more than 10 times year over year. With 1,000 projects, noted the official Chainlink channel,
“On-chain applications secure the majority of TVLs in the #DeFi loan and derivatives markets, supported by oracle networks that bring critical market data on-chain. “
Additionally, it should be noted that live projects can likely double in the coming year. Along with the discussions surrounding the launch of Chainlink’s staking this year, the launch of its Inter-Chain Interoperability Protocol (CCIP) is also one to watch.
Curve, along with Convex Finance, also caught the analyst’s attention. He said,
“These two assets, I think they still have great potential. They’re both really worth a few billion dollars each in market cap.
At current prices, $ CRV is the most asymmetric risk-reward coin in space right now imo. A combination of charts, fundamentals, and the ability to earn a 50% APR while you wait for price appreciation is something incredibly hard to find in this space.
– Credible crypto (@CredibleCrypto) January 2, 2022
Notably, Convex has a Total Locked-In Value (TVL) of nearly $ 20 billion on DeFillama and was one of the top performing tokens in the last month. According to Davis,
“The majority of the supply of these two pieces is blocked. So this means that what is available in the market is a very small fraction of the total supply of these parts. Which means again we can see this as a really big price catalyst. “
Besides the projects mentioned above, the crypto analyst is bullish on Polkadot due to its new launches like Moonbeam. That being said, it looks like 2022 will be an exciting year for the market.