These cryptocurrencies are the closes to dethrone Bitcoin in the future.
Thousands of cryptocurrencies exist in the crypto market, but Bitcoin continues to remain the most trusted one. BTC has made many millionaires when it soared past US$65,000. Every day more and more investors are trading in Bitcoin, proving that it is not just a fad anymore. The prospect of exponential growth has already attracted many buyers who are looking to get ahead of what may become another success story, like BTC back in 2017. There are many Bitcoin alternatives that experts think are much dethroned it as the largest cryptocurrency. Such top altcoins are not only growing rapidly but are also yielding satisfying results.
Here is the list of the top 10 cryptocurrencies that might overtake Bitcoin in 2022.
Ethereum is the second-largest cryptocurrency by market capitalization, and currently, is most likely to overtake Bitcoin in the coming years. It was the first to introduce smart contracts. These smart contracts are behind some of the major developments in the industry, including decentralized finance, non-fungible tokens, and many more. Even Ethereum has several alternatives, but it has proven its worth to the investors and might overtake BTC soon.
Cardano has shown stunning price performance over the past year. ADA is popularly known as the third-generation cryptocurrency that aims to fix some of the problems faced by both Ether and BTC. Its mission is to use blockchain technology and to solve real-world problems while taking a research-intensive approach to development. Another reason why investors might prefer ADA over others is that its algorithm is more sustainable than the rest.
Solana has the capacity to process 50,000 transactions per second, while Bitcoin can process only about 7 TPS. This proves that SOL is a lot faster than BTC. It has a programmable blockchain that can run smart contracts, and like Cardano, it is environment-friendly as well. The performance of SOL in 2021 has been quite remarkable and has made its way to become the fifth-largest cryptocurrency by market capitalization.
Many people like the idea of cryptocurrency but are deterred from investing in it due to its decentralized nature. Ripple claims to offer some of that safety. It is the seventh-largest cryptocurrency in the market and is the shiniest token on top of the altcoin pyramid. XRP boasts incredibly fast transactions within a few seconds with minimum transactions costs.
Litecoin is often considered a close sibling of BTC. Both the cryptos work in the same way, except there are a few differences that make LTC more appealing. The Litecoin system was designed to operate about 4 times faster than that of Bitcoin. Litecoin can confirm the legitimacy of the transactions much faster than Litecoin. BTC only has a limit of 21 million, whereas Litecoin has a limit of 84 million coins. Even though its performance has been low, LTC has a great chance in the future.
Avalanche is a rising star of the crypto market. Its native AVAX coin can be used both as a part of the avalanche consensus mechanism and for paying transaction fees. For the year-to-date, Ethereum has gained a staggering 3,800% profits. With more applications moving into its ecosystem, the crypto is most profitable to reach the position of the largest cryptocurrency in the market in the future.
Dogecoin is another meme coin in the crypto universe. It is currently a lightweight cryptocurrency based on its market capitalization, but its growing investors’ community is rapidly making DOGE more popular every day, indicating that it might have a massive growth potential in the future. DOGE is highly supported by tech giant Elon Musk, which has promoted its growth immensely.
Even though Cosmos is an Ethereum competitor, its network is quite large and is fast-growing. It aims to achieve interoperability and runs on an energy-efficient proof-of-stake protocol. The growth of ATOM has largely been organic unlike many other major cryptocurrencies with huge marketing budgets.
Even though it was quite unexpected, but Axie Infinity has grown 23,000% this year. Experts believe that since it popularized a new type of gaming called play-to-earn, it has changed the way, people perceive online gaming forever. And in return, the crypto’s popularity skyrocketed rapidly this year.
Algorand is pretty new to crypto investors, but it is quite heavyweight when it comes to faster transaction speeds. Its blockchain has already demonstrated that it can process more than 1,000 transactions per second and can complete those transactions in less than 5 seconds. ALGO is pretty efficient and attracts several investors to the market.