2022 looks to be a rough year for the crypto market as the top cryptocurrencies continuously lost their value and most recently with the collapse of Luna. However, the opportunity to make profits is always available if you know which cryptocurrencies are worth investing in.
ApeCoin is a relatively new cryptocurrency launched by Yuga Labs in 2022. The aim of this digital currency is to power the Bored Ape Yacht Club ecosystem, which is known as the largest NFT platform in the world. Yuga also hopes that ApeCoin will power its other products like the metaverse and games. At the time of writing, the ApeCoin price is trading at $8.50 with a market cap of about $2.4 billion. Although its price has plummeted, it is likely that it will rise again as developers launch new products. This makes it a good cryptocurrency to invest in in the short term.
STEPN is a popular move to earn project in recent times. The app rewards users with GMT when they run and walk. STEPN’s market is continuously growing as the number of people using the platform increases. So, GMT prices are likely to continue to rise in the coming months.
Kyber Network Crystal (KNC)
Kyber Network is a relatively small cryptocurrency that could do well in the short term. It is known as a liquidity protocol hub that aggregates liquidity from various sources to provide secure and instant transactions on any decentralized application (DApp). Its primary goal is to enable DeFi DApps, decentralized exchanges (DEXs) and other users to easily access liquidity pools that provide the best rates.
The Kyber Network Price dropped sharply after Terra’s crash but it has done relatively well since then and hopefully its price can increase in the near future. KNC has a market cap of over $217 million.
Due to the collapse of the Terra ecosystem, Cosmos prices have fallen sharply this year. However, don’t worry too much because Cosmos is much bigger than Terra. Besides, Terra did not collapse because it was built using the SDK. Therefore, ATOM is a good short-term and long-term investment.
In a word, Cosmos describes itself as a project that addresses some of the industry’s hardest difficulties. By providing an ecosystem of connected blockchains, it hopes to provide an antidote to “slow, expensive, unscalable, and environmentally destructive” proof-of-work algorithms like those used by Bitcoin.
Synthetix Network (SNX)
Synthetix Network is a blockchain platform that is in the DeFi industry through its derivatives features. Its goal is to allow developers to create derivative products on multiple assets such as cryptocurrencies, stocks, indices and commodities. Synthetix has a total value locked (TVL) of over $538 million. The SNX price is likely to rally well in the near term as the derivatives industry continues to perform well.
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