Six coins with huge potential to look out for
2021 was an eventful one for cryptocurrencies, especially at VIBRA. Similarly to how the cryptocurrency industry soared to new heights, we have achieved remarkable milestones since our launch in Nigeria. Many thanks to the NFT boom, Metaverse, and Elon Musk memes, cryptocurrency exploded greatly and adoption rates increased across Africa.
With more institutional interest in cryptocurrency, 2022 clearly promises to be another crypto year — with more investors, more crypto-native solutions, and more capital projected to flow into the quickly growing crypto market. Selecting a good cryptocurrency besides Bitcoin can be a difficult task for investors looking to diversify their portfolios. With over 16,000 cryptocurrencies available, you may need to do extensive research and acquire a solid principle for crypto investing before choosing which few ones to invest in.
Before Making Your Choice
Generally speaking, your choice of coin is determined by your investment style and risk tolerance. Whether you are willing to take on greater risks for potentially higher rewards or you prefer to make steady gains with little to no risk of capital loss, it is a given that including cryptocurrency investments is a good way to diversify your portfolio.
Whatever your preference, we have rounded up a list of six cryptocurrencies worth watching this year, considering the team, roadmap, technology and community strength of each crypto project.
To simplify this list we have classified these promising coins into three categories. Layer 1 cryptos, Defi tokens and metaverse/gaming coins.
Category 1: Layer-1 Cryptos
Ethereum (ETH): Ethereum is the second-largest cryptocurrency by market cap and has more potential for growth with the ongoing upgrade to ETH 2.0. Ethereum 2.0 is a series of planned upgrades to the Ethereum network aimed at increasing its security, scalability, and sustainability. As the use of the Ethereum network ramped up with the advent of NFTs, so also did the cost of transacting on the network. If successful, ETH 2.0 will revolutionize the Ethereum network solving the congestion and high gas fee problems. With Ethereum serving as a critical component of web 3, it’s worth keeping an eye on.
Solana (SOL): Solana’s year-to-date ROI stands at 10,740% and is one of the fastest-growing coins to watch in 2022. Solana has settled over 50 billion transactions since it was first launched in 2020. Known as one of the potential Ethereum killers, Solana is rapidly attracting developer interest. However, after a few technical problems in recent times, the core team may need to intensify efforts to continue on its fast track.
Category 2: DeFi tokens
Terra (LUNA): Luna was a top-performing coin in 2021 and has now grown into one of the largest smart-contract networks besides Ethereum. Terra is a blockchain platform for algorithmic stablecoins. With Terra’s unique algorithm that focuses on coin stability, more demand is expected for its coin as crypto adoption in payment transactions will require less volatility.
Yearn.Finance (YFi): YFi is the native cryptocurrency on Yearn.finance platform, a DeFi platform that operates on the Ethereum blockchain by automating yield farming in the DeFi ecosystem to generate optimal returns on investments. There has been an upward trend in the number of YFi holders, especially as YFI price exceeded Bitcoin at some point in 2021. The Yearn.Finance platform leverages cutting-edge tools to serve as a crucial aggregator for DeFi protocols such as Aave, Curve, and Cosmos. This year, there is plan for more collaborations and as the fan community continues to grow, there is a lot of optimism for bullish trends
Category 3: Metaverse tokens
With the success of Axie infinity and sandbox crypto games, metaverse tokens are on top of every crypto investor’s radar, and these two are particularly intriguing.
Enjin (ENJ): Enjin is focused on building the infrastructure of the decentralized gaming revolution by making it easy to create and manage NFTs. Enjin’s value proposition and execution position it as one of the top coins to watch out for in 2022
Wilder world (WILD): Wilder World is the governance token for the Wilder DAO and this strong community along with its revolutionary mission to establish an immersive 5D metaverse has helped it capture the attention of crypto investors.
The coin is in your court
Now that you’re aware of the coins we believe are worth watching, you can make an informed decision. While many warn that the crypto market is due for a correction of the 2021 bulls, we believe that there is still plenty of potential for the market to grow this year.
Like any other investment, it is important that your decision is backed by research and knowledge of your risk tolerance level. VIBRA is a platform that provides you with access to different categories of cryptocurrencies such as ETH, Solana and YFI; along with expert teachers, learning modules and an active community to keep you educated and updated about the crypto world.
VIBRA Academy Join the VIBRAin Academy classes to learn more about cryptocurrency, trading basics and market fundamentals. Africans can also earn as crypto tutors in the VIBRAin tutor initiative. Additionally, the VIBRA app is a social trading platform with a social feature where crypto enthusiasts can thrive among a community of experts and go from zero to trade experts. Download VIBRA app and go Social to enjoy more benefits.
VIBRA is positioned to become the easiest, safest and profitable way for peer-to-peer crypto trading in Africa, starting with Nigeria. For more insights on how we plan to do this, follow our Medium page and social media channels.