There are currently over 9,800 cryptocurrencies on the market, but Bitcoin appears to be the most popular and has a price and market cap that’s much higher than any other crypto investment option.
As of the time of writing, bitcoin has a market cap of $790 billion and a 24-hour volume of $30 billion, which is much higher than any other cryptocurrency in the market.
So, if you’re looking for a cryptocurrency to invest in, bitcoin may appear to be the obvious choice, but there are other cryptocurrencies that have the potential to overthrow bitcoin in 2022. Here is a list of five cryptocurrencies that are capable of overthrowing Bitcoin in 2022.
Cryptocurrency That Will Overthrow Bitcoin In 2022
- Ethereum (ETH)
- Binance Coin (BNB)
- Terra (LUNA)
- Tether USDT
- Cardano (ADA)
|Ethereum (ETH)||$3,062||$369 Billion|
|Binance Coin (BNB)||$416||$68 Billion|
|Terra (LUNA)||$97||$34 Billion|
|Tether USDT||$1||$83 Billion|
|Cardano (ADA)||$0.94||$31 Billion|
|Data is accurate as of April 21, 2022.|
1. Ethereum (ETH)
Market Cap: $369 Billion
Ethereum, also known as ether, is the world’s second-largest cryptocurrency after Bitcoin and has recently outperformed Bitcoin in terms of price gains.
It is a peer-to-peer network with a decentralized blockchain that executes smart contracts. In the evolution of space, Ethereum has been the other most important crypto asset. It is a protocol that enables developers to build on top of the blockchain infrastructure it provides.
With the ever-expanding developer community and the new ETH2 rollout, 2022 will be a watershed moment for Ethereum.
Ethereum, which is both a cryptocurrency and a blockchain platform, is a favorite among programmers due to the potential applications it offers, such as smart contracts that execute automatically when certain conditions are met and non-fungible tokens (NFTs).
Last year, Ethereum implemented a major upgrade that included reducing the ether supply, which is now at 120.33 billion coins. The upgrade also enables the Ethereum network to handle more transactions per second, improve platform scalability, and reduce transaction fees.
2. Binance Coin (BNB)
Market Cap: $68 Billion
The Binance Coin is a type of cryptocurrency that can be used to trade and pay fees on Binance, one of the world’s largest cryptocurrency exchanges.
Binance Coin has grown beyond simply facilitating trades on Binance’s exchange platform. It is now possible to use it for trading, payment processing, and even booking travel arrangements. It can also be traded or exchanged for other cryptocurrencies like Ethereum or Bitcoin.
It was priced at less than 10p in 2017, but by 1 February this year, it had risen to around £277, a gain of approximately 377,000 percent, and is currently at $416 as of April 21.
In terms of trading volume, Binance is the most successful cryptocurrency exchange. Binance coin, like bitcoin, maintains a hard limit on the number of tokens in circulation—in this case, 165,116,760 tokens. This helped the token price’s exponential rise in 2021.
Furthermore, Binance invests roughly one-fifth of its profits each quarter in permanently removing, or “burning,” BNB tokens, which increases the value of the remaining tokens.
3. Terra (LUNA)
Market Cap: $34 Billion
The Terra blockchain powers global payment systems with stablecoins, which are coins pegged to fiat currencies such as the US dollar, South Korean won, and the International Monetary Fund’s Special Drawing Rights currencies.
Its native coin, LUNA, stabilizes the prices of the blockchain’s stablecoins and serves as a governance token, giving holders a say in Terra network decisions.
Since June 2021, LUNA has been rising, and it has more than doubled since February. This is most likely due to Terra’s investment in assets such as bitcoin and avalanche to hold in reserve as collateral for UST, a Terra stablecoin.
As a result, demand for UST has increased, while LUNA has experienced less volatility than other cryptocurrencies in recent months. As reported by Coinscreed, Terra (LUNA) gained 9% in under 24 hours on April 18, outperforming the rest of the cryptocurrency market. On major spot exchanges, it is currently trading at $93.
4. Tether USDT
Market Cap: $83 Billion
Tether is a type of stablecoin that is linked to another asset and is intended to provide a less volatile alternative to bitcoin. In the case of tether, that asset is the US dollar.
In theory, this means Tether’s value should be more consistent than other cryptocurrencies, and it’s preferred by investors who are wary of other coins’ extreme volatility.
Tether has a one-to-one valuation with the dollar, making it less speculative than cryptos like bitcoin and ether. With a market cap of $83 billion, it is the largest stablecoin and the third-largest coin overall.
The main advantage of the Tether is that it allows you to conduct transactions in traditional currencies rather than complex digital currencies. You can also lend it to cryptocurrency platforms in exchange for double-digit (annualized) interest rates without fear of your earnings being wiped out by volatility.
5. Cardano (ADA)
Market Cap: $31 Billion
Cardano, which arrived on the crypto scene later, is notable for its early embrace of proof-of-stake validation. By removing the competitive, problem-solving aspect of transaction verification found in platforms such as Bitcoin, this method reduces transaction time, energy usage, and environmental impact.
Cardano, like Ethereum, enables smart contracts and decentralized applications powered by ADA, its native coin.
Cardano’s ADA token has grown slowly in comparison to other major crypto coins. In 2017, the price of ADA was $0.02. Its current price was $0.94 as of April 22, 2022.
We have listed five cryptocurrencies that can overthrow bitcoin in 2022. We are not insulating that these cryptocurrencies will overtake bitcoin in terms of market capitalization but have the potential to overtake bitcoin in terms of price gains.
This list is just our opinion and not a piece of investment advice but we hope you find this list essential to your needs.