The cryptocurrency industry is still suffering the effects of a bear market that started back in mid-November 2021. After more than a year of nearly constant price growth, the prices started crashing down in November, and even now, nine months later, the market is still strongly bearish.
There have been periods of stability, and even minor price recovery, but if we look at the bigger picture, the market is still pushing the value of cryptocurrencies down. With that said, many believe that the industry is at its bottom, or at least near it and that the situation is going to take a turn in the near future.
Historically, the growth would always typically start in autumn, after a relatively calm and uneventful summer, which means that right now is the time to buy, in order to see gains once the prices start growing. Of course, that will only be the case if the prices do start seeing growth after the summer of 2022 ends. But, assuming that things will go down this way — here are our top 12 cryptos that we believe are most likely to rebound first and go up strong.
The first on our list is Bitcoin, which should not be surprising, given that this is the most dominant cryptocurrency in the industry. As such, Bitcoin dictates the behavior of the market, and when it starts growing, the entire market follows. The same is true for price crashes, and only when Bitcoin enters one of its periods of relative stability do the altcoins start acting out on their own.
Bitcoin is the first and the oldest cryptocurrency, and it is so popular that it is nearly synonymous with the word crypto, at this point. It has been recognized as legal tender in several countries, and it is the coin that institutional investors choose to invest in, so its rebound is pretty much guaranteed, it is only a question of when it will happen.
To learn more visit our Investing in Bitcoin guide.
Next up, we have Ethereum, which is also something to be expected. Ethereum is generally considered one of the most important projects that the crypto industry has ever produced. While Bitcoin did establish the industry, Ethereum revolutionized it by developing smart contracts, dApps, and all other blockchain products and trends that have emerged since.
It sees massive amounts of activity and development constantly, which means that there is a huge demand for its coins. That is all it takes for their price to grow once the market allows it and investors start getting encouraged to buy again.
To learn more visit our Investing in Ethereum guide.
In the third spot, we have Cardano, and the main reason why we expect Cardano to blow up in the near future is the fact that it launched smart contracts only a few weeks before the bear market hit in November 2021. Since then, the project’s ecosystem got a lot more products and other projects, which gives its token, ADA, plenty of new use cases.
As a result, the demand for Cardano is also up, and all that the project needs is for the market to allow its price to increase. Once that happens, we have no doubt that it will.
To learn more visit our Investing in Cardano guide.
Moving forward, we have BNB, formerly known as Binance Coin. BNB is the native crypto of Binance’s crypto exchange, as well as of both of its blockchains. With Binance Smart Chain or BNB Chain as it is now known, being a blockchain specifically meant to house DeFi protocols, NFTs, metaverses, and other popular products, this coin also has great potential to grow as soon as the bearish influence withdraws.
In that regard, BNB is not much different from ETH or ADA, and thanks to the constant developments of Binance’s ecosystem, we don’t expect BNB to reach its limit anytime soon.
To learn more visit our Investing in BNB guide.
In the fifth spot, we have Dogecoin, and we believe that Dogecoin is due for a huge comeback. Last year, the coin’s price skyrocketed so much that all previous surges that it experienced seemed like tiny blimps.
Dogecoin is the original memecoin and the favorite cryptocurrency of the entire crypto industry. As such, it has great potential to continue leading the memecoin sector. Plus, it is the favorite coin of Elon Musk, who openly supports it at this point.
To learn more visit our Investing in Dogecoin guide.
Halfway down the list, we have Polkadot — a project that was invented with the intention of solving the scalability problem that Ethereum and other older blockchains are struggling with to this day. Polkadot’s solution to the problem is to launch parachains, which are essentially chains that run alongside its main blockchain. Their purpose is to take over a portion of the main chain’s work, and thus prevent it from being overburdened.
Along the way, parachains were also granted the ability to connect to other blockchains, which means achieving interoperability among numerous chains, with Polkadot at the center of the ever-growing web of connected networks.
To learn more visit our Investing in Polkadot guide.
The seventh on our list is Solana, which is also a blockchain in pursuit of solving the scalability problem. In fact, Solana’s architecture and technology are so advanced that it managed to become the most scalable project in the industry. According to its developers, it can easily handle up to 100,000 transactions per second, and it only starts struggling when it reaches 400,000 TPS.
This made many projects choose Solana’s network to launch on, and so far, there were users, developers, and even entire projects who migrated from Ethereum to Solana due to its simpler and more scalable solution.
To learn more visit our Investing in Solana guide.
Cosmos is yet another project with the same goal as our previous two entries — to fix some of the burning issues concerning blockchain technology, including the lack of scalability, high transaction fees, long waiting periods, and alike. Apart from that, the project also has the goal of making blockchain less complex and difficult for developers and newcomers to the crypto industry.
As a result, it is one of the projects that are pushing adoption the most, thanks to it being technologically better and user-friendlier than older chains.
To learn more visit our Investing in Cosmos guide.
The ninth spot goes to MyNeighborAlice, a blockchain-based metaverse game inspired by another game called Animal Crossing. Like in Animal Crossing, MyNeighborAlice allows users to obtain their own island, and they can do that buy purchasing an NFT. Once they own an island, they can harvest various materials, make new items, decorate the island, and engage in various activities.
And, it is extremely user-friendly, which will certainly help with adoption. The project does not require its users to ever get in direct contact with the blockchain. Instead, it uses an NPC called Alice from which the players can do their purchasing, thus removing the need to use the chain directly, which is believed to be a very intimidating part for a lot of people. We believe that this project is about to see a sharp rise as it just launched its game in alpha.
To learn more visit our Investing in MyNeighborAlice guide.
10. Axie Infinity
In the tenth spot, we have Axie Infinity. This is currently the biggest metaverse game, meaning that it is extremely popular. The game allows players to purchase creatures called Axies, and then enter its massive digital world that they can explore, purchase various new body parts to upgrade their Axies, and turn them into duel champions.
After that, all it takes is for the players to beat others within the game, and they will receive rewards in the form of the project’s native cryptocurrency, AXS. With each Axie being an NFT, players can also buy them and sell them whenever they want, or even breed them in order to create new ones.
To learn more visit our Investing in Axie Infinity guide.
Nearing the end of the list, we have Chainlink, which is a project that introduced decentralized oracles into the crypto industry. The oracles are essentially a method for smart contracts to receive data from the real world, which is necessary in order for them to know when the terms of the contract are met. Without that information, smart contracts would not know when to execute, which would severely limit their usefulness.
Chainlink has been integrated with countless projects since it launched its oracle network, and many now use it to deliver real-time crypto prices for various dApps, protocols, and alike.
To learn more visit our Investing in Chainlink guide.
Finally, we have Polygon, formerly known as Matic Network. Polygon is a user-friendly platform that develops Ethereum scaling and infrastructure solutions. Its main product is Polygon SDK, which is a modular, flexible framework for supporting the creation of multiple different types of apps.
The project’s goal is to help transform Ethereum into a full-fledged, multi-chain system, and enable it to become the Internet of Blockchains.
To learn more visit our Investing in Polygon guide.
The crypto industry is filled with coins and tokens with great use cases and excellent potential. In other words, these 12 are definitely not the only cryptos that might see strong growth once the market allows it. However, we believe that these are among the strongest ones, and that they will be among the first ones to bounce back after the bear market ends. So, check them out, and if you agree — consider investing into one or more of them.
This news is republished from another source. You can check the original article here.
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