There are dozens of coins including Bitcoin, Ethereum, Dogecoin, Solana etc, making it difficult to get started in the world of crypto.
As you are aware, cryptocurrency has taken a massive hit over the past month, but it is important to remember that even if your portfolio is in the red, you are most likely down. A lot of money is earned in the cryptocurrency market at times like these, and the prices that we’re seeing right now are at levels that are unlikely to be seen again in the near future.
Now, after conducting an extensive study on cryptocurrency, we’ve discovered that the one thing you always regret not purchasing is not purchasing at all. So put your big boy trousers on, put your emotions to the side, and let’s see which cryptocurrencies you should be looking into this month.
Our top 3 cryptocurrency picks for the month of February 2022 will be discussed in this article, and we believe that if we had to choose just one word to describe the coins you’ll be reading about today, we would choose the word “revolutionary” to describe the coins you’ll be reading about today.
3 Top coins you might consider buying in February 2022
Coming in at number one we have Avalanche. Avalanche is a blockchain platform that allows developers to create decentralized apps (DApps). This is similar to Ethereum, except it boasts faster transaction speeds and lower gas prices, which are two areas Ethereum has long struggled with.
Avalanche has gone from $4 to an ATH of roughly $135 since its inception in 2020, and it’s now sitting around $64. So, technically, if you had bought Avalanche when it initially launched, you would have earned over 2x return on your investment. The reason we believe Avalanche will win is that their numbers and adoption rates have been tremendous.
If we look at avalanche’s VP of marketing, Jay Kurashi-Sofue, we can see how developer adoption has climbed by 18% to approximately 18,000 developers in the first 20 days of January, and contract deployment has increased by 13% to almost 100,000 smart contracts. He also mentioned how, just a year and a half after starting, Avalanche is seeing Ethereum-like activity, accounting for 84 percent of Ethereum’s daily transactions.
Not only is the blockchain fantastic, but one of the founders and CEOs of AVA Labs Emin Gun Sirer just completed a 20-year plus teaching career in computer science at Cornell. Emin Gun has a huge record of accomplishments in the crypto world that would take too long to describe in this essay. Emin Gun Sirer is a master when it comes to these things, and it’s difficult for a project to fail when you have founders like him. Also, when the markets were collapsing and everyone was panic selling, several blockchains, such as Solana, just stopped running or had technical issues; on the other hand, Avalanche was one of the few that didn’t have any issues with these large volumes. In addition to Avalanche’s efforts, a slew of new DApps is being developed on the blockchain.
There are a number of decks on one inch that are improving their platforms, we have Platypus, and the list continues on and on. The cherry on top of all of these adoptions is that, because AVAX is a proof of state currency, you can stake it and earn roughly a 10% return on your investment every year, which is some pretty good passive income.
AVAX is now trading at $63.70, but it has the potential to double in value this year. According to a recent projection from Gov.capital, it will rise to $286.87 in 2022.
Cosmos coin (ATOM)
Cosmos is known as the “internet of blockchains,” and it allows independent blockchains to interact with one another. For example, it allows public and private blockchains to transfer tokens to one another, and it does so through something called IBC, which stands for Inter-Blockchain Communication protocol, which you can think of as the glue that holds Cosmos together. If you’re familiar with Cosmos, you’ll know that they’ve been experiencing a lot of airdrops on their network, which is due to the fact that all of these applications operate on the Cosmos network.
As a result, if you stake atom, a Cosmos native token, you’re technically a part of all of these projects because Cosmos is interoperable, which means it’s connected to all of the other DApps that run on it, which means you’ll almost certainly meet the requirements for these airdrops because you’re already a part of them.
The total supply of ATOM is relatively limited – 260,906,513 to be exact. Approximately 203,121,910 of these were in circulation at the time of writing. It’s important to note that these cryptocurrencies aren’t mined, but rather gained by staking.
In January 2017, two private sales were held, followed by a public sale in April of that year. This raised a total of $16 million, which works out to around $0.10 per ATOM.
According to the token distribution breakdown, investors received around 80% of the tokens, while the remaining 20% was split between two companies: All In Bits and the Interchain Foundation.
ATOM coins have been compared to ASICs, which are used to mine Bitcoin. “It is a piece of virtualized hardware (economic capital) that you need to purchase in order to participate as a keeper in the network,” the Tendermint team noted in a technical study.
Aave (AAVE) is an Ethereum token that supports Aave, a decentralized non-custodial money market protocol where users can deposit or borrow money. Depositors receive a passive income by providing liquidity to the market, while borrowers can borrow bitcoins in exchange for a changeable interest rate.
AVE is a D5 liquidity protocol that allows you to earn interest on your crypto by lending it out. AVE has a market capitalization of slightly over $20 billion, which is down a few billion dollars following the recent crypto crash and the liquidation of a large number of accounts.
On Aave, standard loans demand the borrower to supply collateral (such as ETH). Since crypto can be volatile, it’s critical to choose your collateral wisely if you’re borrowing coins with Aave. If the value of your collateral falls below a specific threshold, it may be liquidated (meaning you won’t get your money back) and you may be charged additional fees. Stablecoins are a popular collateral choice as a result of this. Please read Aave’s terms and conditions carefully.
In the last seven days, the price of Aave has increased by 0.66 percent. In the last 24 hours, the price has dropped 3.24 percent. The price has increased by 1.12% in the last hour. The current AAVE price is NGN 65,093.0005. Aave is down 76.53% from its all-time high of NGN 277,313.73. The circulating supply is currently 13,507,090.06 AAVE.
Disclaimer: The above article is only an opinion piece and does not constitute trading advice or recommendations on how to invest, trade, or invest in which assets! Before investing, always do your own research and only invest what you can afford to lose!