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2021 was the defining year for cryptocurrencies in many ways. Bitcoin surpassed $1 trillion in market cap and in the process, jumped over several top traditional US companies like Facebook and even Tesla.
Cryptocurrencies like Ethereum, Solana, Cardano, and Dogecoin weren’t far behind in terms of growth and mass adoption as many global brands began accepting them as payments.
That said, 2022 has started off in the red for cryptocurrencies like BTC, ETH, Doge, and many others. What many forget is that crypto is still an evolving space and is still in its relative infancy.
In fact, it’s important to take this volatility into account when asking questions like “which cryptocurrency to invest in today” and “which cryptocurrency is best to buy in January 2022”.
Another important tool that can help you make the right cryptocurrency choices is knowledge. That’s what we’ll provide you with this blog about the 10 best cryptocurrencies for January 2022. You can consult a Cube Wealth coach or download a Cube Wealth app.
Market capitalization in the world of crypto is simply the price of one coin multiplied by the number of outstanding coins currently in circulation.
The term market cap has been carried over from the traditional world of stocks but still has an immense bearing on the desirability of cryptocurrencies, which is why it is the bedrock of the list that follows.
Bitcoin turned 13 years old on 3rd January 2022. BTC has become synonymous with cryptocurrencies because it was the first-ever crypto to enter the mainstream and is #1 by market capitalization.
BTC has gained more than 4000% in value over the past 5 years. This is one of the reasons why investors consider BTC to be one of the best cryptocurrencies to invest in during January 2022.
ETH is the native cryptocurrency of the Ethereum protocol that was created by Vitalik Buterin. Ethereum has become the de facto smart contracts standard and layer 1 solution for many blockchain projects.
Many believe that ETH will remain BTC’s top competitor for years to come, a narrative that has added more fuel to the fire when it comes to which cryptocurrency is best to buy in January 2022.
Tether is a stablecoin and unlike other cryptocurrencies on this list, it is not known to gain or lose much value. That’s because it is pegged to the value of $1 USD.
Most stablecoin investors are known to use it for arbitrage opportunities, to get a flavour for cryptocurrency investments, or to convert BTC, ETH, and others into stablecoins for higher liquidity.
Binance Coin is the cryptocurrency native to Binance, the largest crypto exchange in the world. BNB migrated from the Ethereum network to its native Binance chain in 2020.
BNB got a healthy uptick in value from $19 in 2018 to $469 in 2022. The value proposition of Binance makes BNB one of the frontrunners in the question of which is the best cryptocurrency to buy in January 2022.
Solana is a blockchain solution with SOL as its native cryptocurrency. It is one of the closest competitors to Ethereum and allows smart contracts and dApps to be created.
SOL has been one of the biggest success stories in 2021 as it went from $2.32 in 01-2021 to as high as $260.06 in 11-2021. These factors make SOL one of the best cryptocurrencies to invest in in January 2022.
USD Coin is pegged to the value of $1, which makes it a stablecoin just like Tether. The use case of USDC is similar to USDT as well, with investors using it for arbitrage or crypto conversion opportunities.
Cardano is a blockchain platform with the native token ADA that allows investors to participate in the project’s crucial decisions. Cardano puts its project through a rigorous peer-review process.
The smart contract functionality was brought to Cardano in 2021 and it made the ADA token skyrocket. These factors make ADA one of the most interesting cryptocurrencies to invest in in January 2022. You can consult a Cube Wealth coach or download a Cube Wealth app.
XRP is the native token of the XRP Ledger that helps process lightning-fast global transactions. Both the XRP Ledger and XRP token have been developed by Ripple Labs Inc.
While XRP is undoubtedly one of the best cryptocurrencies to invest in in January 2022, investors must be cautious in general when investing in it because of the recent SEC charges against Ripple Labs.
Terra is a programmable money platform whose native token is LUNA. The aim of Terra is to create a more real-world oriented crypto money ecosystem with stablecoins and its very own LUNA.
Polkadot is a layer 0 blockchain protocol that allows projects to be built and connected with parachains, its multichain network. DOT is the cryptocurrency native to the Polkadot ecosystem.
The seamless interoperability of Polkadot and its upgrading mechanism makes DOT one of the most attractive answers to the question of which is the best cryptocurrency to buy in January 2022.
The table below includes a list of the top cryptocurrencies by growth in the past 7 days. The list includes a mix of relatively known and unknown names which is one of the most interesting aspects of crypto.
These cryptocurrencies may have gained a relatively lucrative chunk of value while BTC, ETH, et al are in the deep red. But it’s important to acknowledge that volatility is a part and parcel of crypto.
Thus, investors must exercise utmost caution when investing their hard-earned money in any cryptocurrency regardless of the value growth or the market cap that make them attractive investments.
In terms of market cap, Bitcoin rules the roost while there are other cryptocurrencies like Axie Infinity that have gained more than 22,000% in value over the past year. That said, the question of what’s the best crypto to invest in right now depends on your risk profile and what you want to achieve out of your crypto investments.
Market capitalization is one of the most important measures you can take into account when investing in shares or cryptocurrencies. It represents the true value of crypto and can be obtained by multiplying the value of one coin and the total coins in circulation. With that logic, these are the top cryptocurrencies for 2022 by market cap:
Ripple’s XRP Ledger native token XRP is worth $36.24 billion (by market cap) and is trading at $150.26 at the time of writing this blog.
In conclusion, identifying the best cryptocurrencies to invest in is a complex and dynamic endeavor, subject to a multitude of factors and market conditions. While certain cryptocurrencies have shown remarkable growth and potential, it's essential to remember that the crypto market is highly volatile and speculative. You can consult a Cube Wealth coach or download a Cube Wealth app.
Note: Facts & figures are true as of 06-01-2022. None of the information shared here is to be construed as investment advice. Exercise caution when investing in unregulated assets like cryptocurrency.
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