- The Altcoin Daily has listed seven crypto assets with great potential this year.
- Among them are Bitcoin and Ethereum, whose networks depict increasing token scarcity alongside demand.
With major developments taking place in the crypto space, here is a list of the top 7 trending crypto-assets according to the Altcoin Daily.
Bitcoin (BTC)
Just as crypto analyst Lark Davis recently noted, Bitcoin reserves in exchanges are at their lowest since Oct. 2018, according to blockchain analytics firm Glassnode. This indicates growing demand and scarcity for the crypto asset, especially among long-term holders. A tweet by Salvadoran President Nayib Bukele communicates the same story: Bitcoin supply will never be enough for the over 50 million millionaires worldwide if they decide to hold one BTC each.
There are more than 50 million millionaires in the world.
Imagine when each one of them decides they should own at least ONE #Bitcoin
But there will ever be only 21 million #Bitcoin
No enough for even half of them.
A gigantic price increase is just a matter of time.
— Nayib Bukele 🇸🇻 (@nayibbukele) January 31, 2022
Fidelity Investments also praises Bitcoin, calling it a “superior form of money.”
Ethereum (ETH)
Ethereum-based lead NFT (non-fungible token) marketplace OpenSea recorded a whopping $5B in monthly sales. Its high record of NFT transactions contributed to the burning of $1 billion worth of ETH tokens in the move towards deflation. Even more, OpenSea has now flipped Uniswap as the most used product on Ethereum.
American rapper, Kanye West, says he’s getting many requests to create NFTs – another indication of surging demand for digital collectibles. Former Disney CEO Bob Iger also predicts an NFT ‘explosion.’ These happenings indicate brighter days ahead for the NFT space and generally the Ethereum ecosystem – the largest NFT blockchain yet.
Related: Chainalysis report: NFT market turning out to be a prime source of money laundering
Ziliqa (ZIL)
The number of transactions on the Ziliqa blockchain is the third-highest they have ever been even with prevailing market conditions. Additionally, total transaction fees this month are the highest they’ve ever been. ZilHub, a promoter of the Ziliqa ecosystem, says these events show the network is only getting better regardless of the ZIL token price. Ziliqa ranks 126th by crypto market cap, with a ZIL token price of 0.04407056 at writing time.
Decentraland
Altcoin Daily thinks this 3D virtual world platform holds great potential due to the 2022 plans in its roadmap. They include:
Desktop client for Windows, Linux, and Mac
VR client expected 2nd half of this year
Mobile app in early prototyping
NFTs can be issued as wearables (Apes, punks, etc).
More crypto assets to watch for
Avalanche (AVAX)
The Avalanche ecosystem has a similar token-burning feature to Ethereum. So far, the network has destroyed over 700,000 tokens – about 0.1 percent of its supply, with more users joining the network daily.
Rubic (RBC)
The Altcoin Daily touts Rubic as one of the best multi-chain swap protocols, boasting better rates, cheaper fees and partnerships with leading DEXs. It allows users to swap over 15,000 assets on various blockchains including Ethereum, Polygon and Avalanche.
On Feb. 10, Rubic will be launching an incentivized referral program to increase the number of projects integrating the Rubic Widget. The network already integrated the decentralized protocol Arbitrum as January came to a close.
Cardano (ADA)
Reportedly, Cardano is seeing a significant uptick in buying pressure, indicating a possible upcoming bullish impulse. This thesis is supported by the positive on-chain stats the network exudes, such as a 17 percent increase in transactions to 29.4 million in January.
Read More: Cardano announces major updates in scalability and block size improvement, could this be bullish for ADA?
Solana (SOL)
As CNF recently reported, Solana has launched a new peer-to-peer payments protocol, Solana Pay, as it looks to venture into the $500B merchant economy.
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