Without any doubt, the year 2021 marked the maturity of the cryptocurrency business. The world witnessed the introduction of new currencies and exchanges, as the industry attracted a more significant number of investors than in prior years. Above all, it was the year of widespread cryptocurrency acceptance.
While Bitcoin remained the market’s focal point during 2021, reaching an all-time high of £69k in November, altcoins’ influence also increased significantly. Surprisingly, numerous Ethereum-based currencies and ETH outperformed BTC in the market. Evidence shows that altcoins, particularly Ethereum-based currencies, could provide significant returns for investors this year during a bull run. The following are some Ethereum-based currencies to keep an eye on in 2022.
MATIC is the main currency of the Ethereum Layer 2 scale solution Polygon, which India’s crypto millionaires Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun co-founded. It is a multi-chain ecosystem built into Ethereum that aims to alleviate the Blockchain’s high gas prices and make it compatible with other networks. MATIC was one of the year’s best-performing cryptocurrencies, gaining more than 11,026 percent in a single year. The cryptocurrency was worth two cents at the start of the year. It topped £2 in less than six months, owing to increasing network activity. Polygon is now selling at £2.40 (At the time of writing) and is the 14th biggest cryptocurrency by market capitalization, having a market worth of nearly £15 billion.
MANA, the primary token of the virtual reality network Decentraland, is one of the highest performing coins. Users may purchase virtual lands on the platform to create, navigate, and monetize. Ariel Meilich and Esteban Ordino founded the platform, which debuted in 2019 after an initial coin offering in 2017. Decentraland has two tokens: LAND, which is not fungible, and MANA, an ERC-20 Token. MANA allows users to purchase wearables, avatars, and names on the site. MANA was one of the best-performing currencies last year, with a value gain of nearly 2000 percent. Given the revived interest in NFT and metaverse-related initiatives, the growth does not seem to be slowing. It is now worth £3.09 (At the time of writing) and has more than £4 billion in market capitalization.
Sergey Nazarov founded Chainlink in 2017, intending to improve Ethereum smart contracts via integrating real-world data into online networks. Chainlink is a data provider for Oracle that operates in the LINK currency. The usage of smart contracts is one factor that contributes to LINK’s increased value. The more smart contracts that are utilized, the more valuable LINK becomes. Although it is now stabilizing between £44 and £48, the cryptocurrency’s value has doubled over the last year, reaching an A.T.H. of £51.17 in May. It presently has a market capitalization of roughly £12 billion.
Where to Start?
The first step in acquiring these cryptocurrencies is to buy Ethereum through a cryptocurrency gateway like Altalix. Altalix offers a secure gateway where you can buy Ethereum using your pounds or euros.