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CATEGORY: crypto 2022


Oct 20, 2022 12:25

2022: The Year Of Crypto Market Fear

Data shows 2022 has been the year of fear in the crypto market as investors have continued to display poor sentiment for around eleven months now. Crypto Fear And Greed Index Currently Sits In “Extreme Fear” Territory As per the latest weekly report from Arcane Research, the cryptocurrency market could soon complete one full year of fearful sentiment. The relevant indicator here is the “fear and greed index,” which tells us about the general sentiment among investors in the crypto market. The metric uses a numeric scale that runs from zero to hundred for representing this sentiment. All values greater than fifty imply a greedy mood, while those below the threshold suggest a fearful air. Outside of these two sentiments, there also exist two subset sentiments, the “extreme fear” and the “extreme greed.” These occur at values towards the ends of the range. That is, those above 75 for the former, and those below 25 for the latter. Related Reading: How Bitcoin On-Chain Signals Present A Solid Case For A Market Bottom Now, here is a chart that shows the trend in the crypto fear and greed index over the past year: The value of the metric seems to have been moving sideways during recent weeks | Source: Arcane Research's The Weekly Update - Week 41, 2022 As you can see in the above graph, the current long spell of fear first started way back in mid-Nov of last year as the bull run died down. Since then, outside of only a few spikes to greed, the crypto fear and greed index has stayed below a value of fifty. Related Reading: SEC Rejects Another Bitcoin ETF, Exasperated Investors May Turn To Uniglo For Long-Term Crypto Gains During this period, the metric has actually spent a large amount of time in the extreme fear territory, meaning investors have had a deep bottom mentality in 2022. The latest value of the indicator has been 22, meaning that investors are extremely fearful at the moment. This isn’t much different from the last week, which observed a value of 24. The below meter displays where the current market stands compared to last week and last month. The fear and greed index points at extreme fear right now | Source: Arcane Research's The Weekly Update - Week 41, 2022 BTC Price At the time of writing, Bitcoin’s price floats around $19.2k, up 1% in the last seven days. Over the past month, the crypto has lost 1% in value. Below is a chart that shows the trend in the price of the coin during the last five days. Looks like the value of the crypto has continued to be stuck in a range over the last few days | Source: BTCUSD on TradingView Featured image from Hans-Jurgen Mager on Unsplash.com, charts from TradingView.com, Arcane Research

Oct 11, 2022 07:10

Why is Crypto DOWN Today? 3 Big Reasons…

The cryptocurrency market continues to consolidate as most cryptos turn red after a greenish week. Why is crypto down?

Aug 05, 2022 09:23

What is Immutable X? – The hidden Champion In the Crypto Space 2022? Invest now?

Let’s take a look at it in more detail about what is Immutable X and other updates. Should you invest now?

May 09, 2022 02:30

Top 5 Altcoins to BUY in May 2022 – INSANE POTENTIALS!

The cryptocurrency market is heavily discounted today. In this article, we present to you the top 5 altcoins to BUY in May 2022.

Apr 20, 2022 01:30

Top 5 Altcoins to BUY in April 2022 – Best Cryptocurrency Investments

Despite April looking bearish, crypto investors are looking to buy the dip. Here is our list of the Top 5 Altcoins to buy in April 2021.

Top 5 Worst Performing Crypto – Week 10

Author: Owotunse Adebayo
Germany
Mar 14, 2022 10:45

Top 5 Worst Performing Crypto – Week 10

The crypto market has continued to suffer massive declines, with Bitcoin leading the market at a slowed pace. Although there have been shouts of a potential bull run in the coming weeks, the market is still stuck in decline. Most top crypto has continued to lead the market decline, with the token posting series of losses across the past few weeks. However, other tokens have performed woefully in the past week. This article will look at the top 5 worst crypto performance in the past week.

Top 5 Worst Performing Crypto For The Week

Over the past week, the crypto market has endured the bears' activities. Although most of the top tokens were affected, a number of them are gradually returning to the top. For instance, XRP is up by 5.95% in the last seven days while seeing a decline of 0.71% in the last 24 hours. Below are the top 5 worst performing crypto over the last seven days in the market.

#1 Anchor Protocol (ANC)

Anchor protocol is a platform that offers traders lending and borrowing services across the crypto market. It allows traders to earn rewards of up to 19% on all stablecoin deposits on the platform. Lenders are the major beneficiaries as they can earn rewards on their stablecoins while eliminating high volatility. Traders can enjoy the benefits of holding LUNA tokens while borrowing them out to earn profits on the protocol. Regarding its performance. The native token of the protocol, ANC, is presently trading at $3.22, with a decline of 28.40% in the last seven days. In the last 24 hours, its trading volume has been around $90,723,992. The token's market cap is $846,378,406, with about 263,056,492 ANC tokens presently in circulation.

Fig.1 ANC/USD Chart on TradingView #2 Fantom (FTM)

Fantom is a platform that allows developers to carry out their activities using its special algorithm. Using the FTM native token eliminates basic issues that plague other platforms in this regard. One of the most significant features is the transaction speed which is the fastest across the sector. It acts as an alter ego for Ethereum, providing the basic activities that the network provides for traders and developers alike. Andre Cronje's exit definitely made an impact on this crypto.

Fig.2 FTM/USD Chart on TradingView

FTM is presently reading around $1.18 in the last 24 hours, posting a price decline of 17.29% in the last seven days. It is a trading volume of 427,046,373 and a market cap of $3,003,035,348 in the last 24 hours. Presently, there are 3,175,000,000 FTM tokens in circulation.

#3 Mina (MINA)

Mina protocol enables users to run dApps efficiently by curtailing the computation needs of the apps. The blockchain is the smallest blockchain in size, despite the growing number of users on the network. Also, it adds a mix of balance when it comes to security and decentralization. Before October 2020, the project was called the Coda protocol. Presently, the native token of the platform, MINA, is trading at $1.68, with a drop of 14.15% over the last seven days. The token boasts a market cap of $697,801,925 with a trading volume of $32,409,305 over the last 24 hours. Presently, there are about 414,440,458 MINA tokens in circulation.

Fig.3 MINA/USD Chart on TradingView #4 Oasis Network (ROSE)

Oasis network is a scalable layer one blockchain that concentrates on high throughput and low transaction fees. Its secure architecture provides a haven for projects in the crypto sector, including NFTs, DeFi, Metaverse, Web3, and others. One of its core responsibilities is to help push Web3 forward through its early stages to full adoption across the sector. The native token of Oasis Network, ROSE, is presently trading around $0.217, seeing a decline of 9.70% in the last seven days. The token's trading volume in the previous 24 hours is around $55,380,185, while its market cap in the same duration is approximately $759,519,126. ROSE presently has about 3,493,014,306 in circulation.

Fig.4 ROSE/USD Chart on TradingView #5 Algorand (ALGO)

Algorand was designed to be a blockchain that would sustain itself and provide support to the majority of the applications in the decentralized finance sector. The network provides security, sustainability, and efficiency, mirroring the most stable apps outside the crypto sector. The network also supports computation that gives a basis for a new form of trust. Since December 2020, Algorand has handled nothing less than 1 million daily transactions. Presently, ALGO trades at $0.702, seeing a decline of 9.43% in the last seven days. It boasts a market cap of $4,654,253,991 and a trading volume of $70,860,306 over the last 24 hours. It currently has about 6,627,013,432 tokens in circulation.

Fig.5 ALGO/USD Chart on TradingView Conclusion

With the bears roaming across the market in the last few days, it is paramount to note that the entire market is facing a general decline. However, traders can still make most of the bear market by purchasing promising tokens. It is also advisable to ensure that you are tactical with buying the dip during this period. This ensures that you do not continue to lose when the general market starts witnessing a bull run. Besides that, traders should look carefully into the tokens they wish to commit with and diversify their portfolios in case of a prolonged general market drop in price.

crypto crash© Cryptoticker

Feb 19, 2022 07:05

Top 5 WORST Cryptos in February…Did yours make the list?

Unprecedented demand for goods and services in the US market has pushed the prices to go off the roof. For the first time in nearly 40 years, inflation in the US breached the 7% mark. As a result, to put an end to the misery, the Fed has started tapering with plans to reduce asset purchases in 2022 by nearly $30 billion. As a consequence, even the crypto market had its worst crypto fall significantly in prices.

The repercussions due to this have been evident in other related markets like stocks and cryptos where we have been noticing long red candle formation in the past couple of weeks. With S & P index nosediving and cryptocurrencies gasping for breath, some of the tokens have outsmarted peers in terms of worst performance this week. So without an intention to alienate whosoever invested in these cryptos, let’s have a quick look at some of the worst-performing crypto this week. 

Worst 5 Cryptocurrencies of the Week 

#1 Harmoney ONE  

One Token did enter the crypto market with a promise initially to scale blockchains and provide an infrastructure for NFTs and DeFi to grow linearly. Despite the claim, the much-talked-about 4-shards that created hype among NFT projects in the midst of skyrocketing Ethereum gas fees failed to capitalize on the market sentiment. Investors' positive outlook had consolidated for Harmony’s one token much earlier despite revolutionary consensus mechanisms like EPOS or Effective Proof of Stake. 

The token has lost 30.2% of its value to feature on the list of worst-performing cryptos this week. On January 31 2022, the One token was trading at $0.1866. Fast forward to 17 days and we have seen no up movements at all.  Prices have dipped further with no signs of revival anytime soon.

Fig.1 ONE/USD 4-hours chart - TradingView

? Buy One Token ?

#2 Yearn.Finance YFI

When a DeFi protocol automatically allows you to aggregate overall price movements and pick trades on your behalf, it is a relief that amateur or new investors would battle to try. Yearn.Finance entered the crypto realm with the same solution; however, things hadn’t been sunshine and rainbows for the protocol where the token prices have depreciated by almost 31.8% this past week. If you have bought YFI token as your preferred portfolio, it wasn’t a good week for you. But one can hold on to bright days ahead for sure. 

Fig.2 YFI/USD 4-hours chart - TradingView

#3 Polygon MATIC

Matic recently raised $450 million from Sequoia Capital India to build Web 3.0 solutions. Despite providing additional support to Ethereum scaling in the midst of high gas costs, Matic’s performance remained abysmally under-recognized. The token has dropped by 36.1% which makes it the worst performing crypto even outpacing its peers like One Token and YFI included on the list. On January 1, Matic/Polygon was trading at around the $2.57 mark, however, within a month the token had depreciated to $1.79. 

Fig.3 MATIC/USD 1-hour chart - TradingView

#4 Shiba Inu SHIB

Shiba Inu did ride on top of Elon Musk's antics where he continuously supported meme tokens. The outcome led to an unprecedented rally last year. However, 2022 hasn’t been quite promising for the token. In February, the token dipped to new lows by registering a 37.2% write-off on its value. At the moment, Shiba Inu is 65% down from its all-time high of 0.00005 registered on May 10, 2021

Fig.4 SHIB/USD 2-hours chart - TradingView

#5 Avalanche AVAX

In 2021, the Avax token gained 2800% due to its capabilities of processing transactions at a low cost with super fast speed. However, 2022 hasn’t started on a good note for the token since it has already registered 38.2% value write-off at the time of writing making it the top loser of February 2022. However, there’s some respite due to a slight recovery picking up lately. 

Fig.5 AVAX/USD 1-hour chart - TradingView

Conclusion

All the above-mentioned tokens sank significantly in the past week. On the other hand, we can notice a very similar pattern, where prices fell towards a strong support area. Most tokens are currently around that specific important support. The coming days should determine the upcoming price-action of the entire cryptocurrency market.

Bitcoin broke below 40K, and Ether also did break below the important price of 3K. Will altcoins manage to come back stronger and break away from the Bitcoin correlation?

Don’t forget to follow us on Google News to keep yourself updated with the latest Price Predictions 😉

© Cryptoticker

The post Top 5 WORST Cryptos in February…Did yours make the list? appeared first on CryptoTicker.

Feb 18, 2022 10:50

3 Undervalued Cryptos that could EXPLODE in 2022

In the crypto world, most investors focus on the largest cryptocurrencies such as Bitcoin, Ethereum, XRP, and Co. However, there are still coins that can increase massively in the coming weeks and months but are still undervalued at the moment. Let's mention those 3 undervalued cryptos that can explode in 2022.

Undervalued Cryptos - How to spot good Cryptos?

If we look at the crypto market in 2022, we see 3 major trends that are driving the cryptocurrency market at the moment: 

  •  The Metaverse
  •  DeFi
  •  NFTs

Blockchain solutions that offer solutions in one or more of these areas have high chances of success and increasing value in the future. These include the following 3 cryptocurrencies.

#1  The Sandbox (SAND)

At the moment there are numerous solid projects supporting the metaverse. The Sandbox (SAND) seems to be the most solid project. To date, The Sandbox has sold over $350 million worth of virtual properties. Furthermore, The Sandbox tries to merge the metaverse with NFTs by wanting to represent two-dimensional NFTs in a three-dimensional form in the metaverse. The Sandbox is one of the still undervalued cryptocurrencies in 2022.

Fig.1 SAND/USD 1-day chart showing the current SAND price - TradingView

#2 Chainlink (LINK)

Decentralized financial services require smart contracts so that they can offer financial services over the blockchain. The so-called decentralized oracles help to integrate data from the analog world into the blockchain world. Chainlink offers possibly the best oracle platform on the market. Lending, decentralized staking, and decentralized trading will benefit greatly from Chainlink. Chainlink has recently lost a lot of value and is currently one of the undervalued cryptocurrencies in 2022.

Fig.2 LINK/USD 1-day chart showing the current LINK price - TradingView

#3 Avalanche (AVAX)

Avalanche (AVAX) has developed into a major Ethereum competitor in a very short time. Avalanche allows developers to build decentralized applications and further individual blockchains known as "subnets". Compared to Ethereum, Avalanche has a much higher transaction speed of 4,500 transactions per second. Furthermore, the low costs are ideal for DeFi and NFTs. Avalanche is growing strongly in the NFT market. Avalanche remains one of the undervalued cryptocurrencies in 2022.

Fig.3 AVAX/USD 1-day chart showing the current AVAX price - TradingView

You can now buy these cryptos cheaply in 2022 on the crypto exchanges  Binance ,  Coinbase ,  Kraken  and  Bitfinex  .

Passive crypto income© Cryptoticker

The post 3 Undervalued Cryptos that could EXPLODE in 2022 appeared first on CryptoTicker.

Feb 02, 2022 02:25

Top 3 BEST Crypto that could make Big Profits in 2022

There is a lot of pessimism in the crypto market at the moment as Bitcoin and other cryptocurrencies lost a lot in January 2022. Nevertheless, there is still hope that 2022 will still be a bullish year. This positivity comes at a time when India finally legalized cryptocurrencies despite previous bans. Which best crypto can bring you big profits in the months to come? Let's find out.

#1 Best Crypto: Cardano ADA

Is Cardano still undervalued? The upcoming updates in the Cardano network suggest so. Because with the upcoming Basho update, the scalability of Cardano, in particular, should increase massively. This means that the blockchain could become even more of a basis for DeFi and NFTs in the future.

2 weeks ago we saw a sharp rise in the ADA rate as the concrete improvements were also released in the basho update. With the strong Bitcoin drop, the ADA price also fell again. However, the potential of Cardano is huge. The number of addresses in the network is also constantly increasing. This makes Cardano one of the best-undervalued cryptocurrencies for 2022.

------> Click here to Buy ADA <------

Fig.1 ADA/USD 1-day chart - TradingView

#2 Polygon MATIC

Although Polygon was one of the most successful cryptocurrencies in 2021, the former Matic network still seems to be undervalued. In recent market crashes, the MATIC token has fallen even more than most other cryptocurrencies, making the token particularly cheap at the moment.

The big advantage of Polygon is that it can network Ethereum-compatible blockchains. Furthermore, it applies particularly strongly in the area of ??security. Polygon also benefits from any profits in Ethereum. The strong network has long been considered undervalued and could still gain massively in bullish phases in 2022.

------> Click here to Buy MATIC <------

Fig.2 MATIC/USD 1-day chart - TradingView

#3 Algorand ALGO

Algorand will also continue to be one of the best-undervalued cryptocurrencies in 2022. The network is considered efficient and secure. Transactions can be processed on the Algorand network at up to 1,200 per second. But the developers are working to ensure that the transaction speed in the Algorand network continues to increase.

Algorand is one of the blockchains that rely on security and high scalability without sacrificing decentralization. In the last few weeks, the use cases of Algorand, especially in the DeFi area, have increased massively. The big breakthrough for Algorand could come in 2022.

------> Click here to Buy ALGO <------

Fig.3 ALGO/USD 1-week chart - TradingView

Best crypto© Cryptoticker

The post Top 3 BEST Crypto that could make Big Profits in 2022 appeared first on CryptoTicker.

3 Major Signs We're Kicking Off 2022 With a BULLISH Outlook On Bitcoin...

Author: noreply@blogger.com (Silicon Valley Newsroom)
United States
Jan 03, 2022 09:05

3 Major Signs We're Kicking Off 2022 With a BULLISH Outlook On Bitcoin...


It's a new year, and when the previous year saw record highs set for every major crypto asset, people naturally wonder if a bearish market is around the corner. 

Like every market, eventually it will be our turn, thankfully crypto has a history of fairly short bearish terms followed by a bullish market that exceeds the prior one. 

However, it doesn't look like we're there yet - these 3 indicators would absolutely look different if we were entering a bearish market:

Those Who Recently Sold Aren't Leaving...

Speculative traders who made large sales in December are now re-purchasing, according to analysis by Willy Woo. 

This includes a number of hedge funds who sold in December to take a profit, and are now redeploying their capital.


Long Term Hodlers Continue Accumulating...

We're seeing wallets that hold and do not trade Bitcoin taking advantage of the current price dip to accumulate more.  These are people who have bought Bitcoin and left it untouched for at least 6 months.

This category of trader currently holds the most Bitcoin.

We can logically assume they believe we have not yet seen Bitcoin's all time high, and that the profits possible are so great, they don't bother participating in short-term opportunities to profit by selling and re-buying price swings.

No Increased Inflow To Exchanges...

Bitcoin investors who hold a sizeable amount of coins typically move those coins out of exchange accounts after buying them, and into offline cold storage to keep their coins secure.

This means that before they can sell their coins, they need to first transfer them back to an exchange account for trading - and currently, this is not happening.  

We continue the 2021 trend of more tokens leaving exchanges than being moved back to them.

In Closing...

I am aware, as you should be as well, that things can change fast.  Sometimes triggered by totally irrational panic selling, other times by major real-world events.

The thing is - nobody can plan for things that may or may not come at any time. 

But you can be prepared - while I stand by this report I'd also like to include a reminder to be smart. Set stop-losses, have a plan to make sure if things take a sudden turn, you're walking away with most of what you earned. 

-------

Author: Mark Pippen
London News Desk 
Breaking Crypto News



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Jan 03, 2022 07:15

3 Important Developments Needed for Cryptos in 2022

What will the crypto market bring in 2022? In the past year, we saw an extremely large number of exciting developments. In the new year, we should not only see further price jumps, but also a lot of interesting developments. Let's talk about 3 necessary trends for cryptos 2022. If those get apply, we should definitely see the crypto market rise and Bitcoin closer to 100K.

#1 Metaverse 2022 - A Broader Adoption

At the latest, the announcement by Facebook of the renaming of the parent company to "Meta" triggered an extreme hype about the Metaverse. This digital space is also provided by numerous blockchain projects. In particular, games like Axie Infinity or The Sandbox triggered an unexpected hype last year with their play-to-earn principle.

This hype should carry over into 2022. The possibilities in the area of ??the decentralized metaverse are limitless. Digital objects can be offered as NFTs within the metaverse. Big companies are recognizing these incredibly interesting opportunities more and more and are investing large sums in the metaverses. The Metaverse will continue to accompany us in the crypto market in 2022.

#2 NFT and Tokenization

With the next trend, we come back to the NFTs. These non-exchangeable tokens have become a proven technology in 2021. The art market has been completely turned upside down by the NFTs. More and more digital auctions, in which ordinary people can also participate, are taking place. 

The process of tokenization describes the conversion of a physical object into the form of a digital token, such as from the NFT. This trend is not only advancing in the art market. The area of ??tokenization could explode in the crypto market in 2022. The NFTs and their diffusion will play an important role in this.

#3 Hybrid Blockchains

The trend of hybrid blockchains could get particularly hot in the crypto market in 2022. Classic blockchains have always struggled with known problems such as scalability, long and expensive transactions, and high computing effort. This is particularly a problem of the proof-of-work consensus mechanism. Ethereum is currently switching to proof-of-stake.

Hybrid blockchains can use various consensus mechanisms. This saves a significant part of the energy consumed and makes the blockchains more efficient. Transactions can be carried out on sidechains, which relieves the main network and thus massively increases scalability. 

You can purchase cryptocurrencies on the  Binance ,  Coinbase ,  Kraken  and  Bitfinex exchanges.

Proof of transaction: Explained© Cryptoticker

The post 3 Important Developments Needed for Cryptos in 2022 appeared first on CryptoTicker.

Jan 02, 2022 07:15

THIS is how you can Generate Passive Income with Cryptos in 2022

The year 2022 is just around the corner and you have probably set yourself big goals in the new year. A dream of many people is to earn a passive income alongside their job and possibly even get off the hamster wheel. With cryptocurrencies, you have a good opportunity to start building your passive income in 2022. In this article, we're going to give you a few tips.

How to Earn Passive Income from Cryptos

The idea of ??passive income is to stop trading your time for money. You make money from doing other activities because your money works for you. There are numerous methods for passive income, of which investing in cryptocurrencies is a particularly attractive option. 

In the field of cryptocurrencies, you can go different ways to start your passive income. You can earn money just through price gains. You can build a fortune through staking, earn money through lending or build your own income through NFTs. It's best to combine different methods for the best possible results. Let's talk about each method separately.

Buying Cryptos

The easiest and most popular way is to invest in cryptocurrencies. You can get high returns with an investment in Bitcoin, Ethereum, XRP, and other altcoins. The strategy is similar to investing in the stock market. On average, cryptocurrencies offer significantly higher returns. In contrast, the risk with cryptocurrencies is much higher.

Whether you can build up a regular passive income with investments in cryptocurrencies also depends on the market situation. In bullish phases you make high returns, in the bear market it becomes much more difficult. On the other hand, regular income (e.g. monthly) is not guaranteed.

Staking Cryptos

If you're looking for a regular source of income, staking could help. Proof-of-stake is a possibility for consensus on certain blockchain networks. It is considered a more efficient method of achieving consensus on the blockchain than the classic proof-of-work that Bitcoin uses. With staking, small investors can take part in this consensus process and thus earn interest.

Staking is an excellent way to earn passive income with cryptocurrencies. The interest mentioned here are called staking awards and are paid out to you as rewards in the form of the corresponding coins. This only works with certain cryptocurrencies. We recently put together an extensive article talking about what staking is and how to do it.

Lending Cryptos

Crypto lending is also a way to earn passive income with cryptocurrencies. You lend your cryptos to other parties and get them back with corresponding interest. However, it is important to do good research here, because the risk of loss is higher with crypto lending than with staking.

Buying NFTs

A better alternative to making money from cryptocurrencies could be NFTs. NFT stands for "Non-fungible Token", a digital, unique, non-reproducible work. Most importantly, NFTs revolutionized the art market in 2021. There are now an extremely large number of NFT collections of digital works of art that you can buy, sell and trade on platforms such as OpenSea .

With a little initial effort, you could create your own NFTs and then offer them for sale on NFT platforms. The platforms mentioned are suitable for this. Rarible is designed as a platform NFT particular attention to the artist. In the meantime, individual NFTs have already brought in six-figure amounts.

Play2Earn in the Metaverse

The metaverse was the big topic in the crypto market in the fourth quarter. It describes a virtual space in which individuals can exchange ideas and interact with one another. There are now numerous metaverses based on the blockchain. In these metaverses, you can earn rewards in the form of cryptocurrencies or NFTs using the play-to-earn principle.

Some of the most famous examples include Axie Infinity, where you can raise and even fight digital creatures (Axies), and Decentraland, where you can purchase digital land and real estate. Digital land in particular can secure a passive income for you in the future.

Conclusion

Building a passive income with cryptocurrencies is not that difficult. You have to be aware that it will take some time and that your passive income will be rather small in the beginning. Furthermore, there is always a certain risk associated with cryptocurrencies. Cryptoticker offers very good articles and further knowledge on the topic.

You can purchase cryptocurrencies on the Binance ,  Coinbase ,  Kraken  and  Bitfinex crypto exchanges.

If you don't want to miss any news from the crypto world, then be sure to subscribe to our premium area!

Bitcoin© Cryptoticker

The post THIS is how you can Generate Passive Income with Cryptos in 2022 appeared first on CryptoTicker.

Top 5 DeFi tokens to Watch Out for in 2022

Author: Owotunse Adebayo
Germany
Dec 02, 2021 10:50

Top 5 DeFi tokens to Watch Out for in 2022

The crypto market is diverse and provides massive earning opportunities to traders across all the industries in it. Although most traders have familiarized themselves with the centralized market, the decentralized finance market brings a whole new twist. With peer to peer system becoming one of the go-to options, the DeFi market, as it is fondly called, provides clients with this opportunity. This is because traders can earn fortunes through different protocols in the sector carrying out activities like staking and the likes. In this article, we will be looking at the top 5 decentralized finance tokens to watch out for as we approach 2022.

What is Decentralized Finance (DeFi)?

With most traders relying on the digital market to make profits, the decentralized finance (DeFi) sector avails them with the tools to carry out their activities through a peer-to-peer system. By deploying smart contracts, traders are able to carry out their buying and selling activities on protocols. The main reason traders communicate with smart contracts is that the sector thrives without the need for a third party. Unlike a centralized exchange that uses a financial third party to facilitate transactions, traders do not need them when carrying out transactions on the blockchain.

Top 5 DeFi tokens to watch out for in 2022

With the world of decentralized finance (DeFi) getting bigger as the day rolls by, there are a bunch of tokens entering the space. However, traders who intend to make profits cannot just pick a token to trade that is why we have made this list of the top 5 tokens to watch out for.

#5 Aave (AAVE)

Launched in 2017, Aave was one of the first few platforms to make its way into the DeFi market. Aave works as a liquidity platform that allows traders to borrow assets and reward traders for lending assets. The decentralized protocols match lenders with borrowers in the market as it aims to provide equal space for traders. Traders who intend to make profits on the protocol can stake AAVE, the native token of the platform. Also, holders of its native token can have a say in the changes made on the platform. Presently, AAVE is trading at $233, seeing a loss of 1.20%. The token has a market cap of $3,120,434,867 with a 24 hours trading volume of $217,259,821.

#4 Avalanche (AVAX)

Launching its mainnet in 2020, Avalanche is a blockchain on Layer 1 where decentralized applications are built. Although Ethereum is by far the biggest and most used network in the DeFi sector, Avalanche is aiming for its spot. To do this, Avalanche intends to carry out up to 6,500 every second without any scalability issues. In actualizing this, the developers deployed three chains; X, P, and C chains. This approach is different from other blockchains because the three chains work together to validate transactions. To make profits from Avalanche, traders can stake their token, AVAX, which is used to ensure the platform is secure. AVAX is presently trading at $113, with a 24 hour gain of 4.90%. The coin has a market cap of $25,303,198,028 and a 24 hour trading volume of $1,256,780,409.

#3 Cardano (ADA)

Cardano was designed off the back of bringing global change through visionaries and innovators. Developed in 2017, the network is a proof of stake blockchain that intends to provide an ecosystem that is secure, fair, and open. Its native token, ADA, allows holders who hold it to decide changes on the ecosystem. With this, they can vote on any change that is proposed on the platform. Cardano is presently trading at $1.5, seeing a 1.01% fall in the past 24 hours. It has a trading volume of $1,607,851,868 and a market cap of $51,689,872,204.

#2 Chainlink (LINK)

Chainlink is a decentralized oracle system that bridges smart contracts with live data using its oracle technology. The platform recently deployed a bridge that will help different DeFi blockchains have better communication. With this, various projects will increase their scalability and avoid issues that earlier blockchains have suffered. Chainlink is having an enjoyable period in the market, having gone up by 2.20% in the last 24 hours to trade at $24. Ranked #20 on CoinMarketCap, the token has a market cap of $11,613,396,477 and a 24 hours trading volume of $792,297,831.

#1 Polkadot (DOT)

Polkadot helps different blockchains share information using a trustless system brought about by its Polkadot relay chain. With this, projects built on the chain enjoy a faster speed coupled with massive scalability. Polkadot has been seen as a big rival for Ethereum in the DeFi, as it had always battled with issues regarding speed and congestion. With more projects hoping on the chain, it continues to enjoy massive growth and adoption. DOT is presently ranked #9 on CoinMarketCap, trading up at 6.31% with a price of $37.17. Its market cap is $36,652,959,436 with its trading volume about $1,278,588,734 in the last 24 hours.

Conclusion

The decentralized finance (DeFi) sector is currently undergoing one of the best times in the market. With this, more traders and entities are flocking into the sector, trying to leverage it for profits. With funds raised in the sector, a massive amount of financial products have debuted in the sector through different protocols. The tokens above show massive potential and are primed to push further upward with great adoption. However, you should know that things change drastically in the DeFi sector, and you need great research. The research will tell you what the next step is about any token that you intend to trade.

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The post Top 5 DeFi tokens to Watch Out for in 2022 appeared first on CryptoTicker.

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