The cryptocurrency market has experienced unprecedented volatility in the first few months of 2022. With the majority of the volatility being bearish. After fluctuating between more than $3 trillion in November 2021 and less than $2 trillion at times this year. The total crypto market capitalization ended the quarter at approximately $2.1 trillion. Bitcoin and other popular cryptocurrencies have suffered a setback to begin the year. Following in the footsteps of the S& P 500, which is down 4.95 percent year to date.
There are a variety of factors at play that could cause major cryptos to lose their winning streak. As a result of the conflict between Russia and Ukraine. Questions about how governments around the world intend to regulate cryptocurrency. And the Federal Reserve’s expected interest rate increases to combat inflation. The cryptocurrency market is experiencing uncertainty. Despite the fact that the majority of them lost value in the first quarter. Here are the top-performing cryptocurrencies in the first quarter with a market capitalization of at least $10 billion.
Shiba Inu
Shiba Inu, one of the most popular meme coins. It has experienced tremendous growth since its launch in 2020.
Anyone who bought just $2 worth of SHIB in January 2021 became a millionaire by November. As the stock rose by more than 48,000,000 percent in a single year. While it began as a simple meme coin. Shiba Inu is now developing a Metaverse platform. And its use in payments is becoming more widespread.
All of these factors combine to make SHIB the best cryptocurrency to invest in 2022, especially given the fact that it is still less than 65 percent off its most recent highs.
Bitcoin (BTC)
Bitcoin (BTC) Bitcoin is the best cryptocurrency to invest in if you are a beginner. Have you ever wondered if it is possible to purchase Bitcoin despite its high price? This is due to the fact that the leading cryptocurrency is significantly less volatile. After all, Bitcoin (BTC) is the most valuable cryptocurrency in terms of market capitalization.
The price and valuation of Bitcoin have been stuck in a consolation period for the first few months of 2022; the cryptocurrency has been hovering between $38,000 and $42,000 in terms of price and valuation. In light of the foregoing, Bitcoin price predictions predict that BTC will rise to more than $75,000 by the end of the year 2022. You might want to consider investing in Bitcoin if you’re looking to buy and hold cryptocurrencies for the long term.
In other words, you can buy only a small fraction of a single Bitcoin unit at a time.
Tether
Tether is a term used to describe a connection between two points (USDT)
The market capitalization is more than £57 billion.
Tether, in contrast to some other forms of cryptocurrency, is a stablecoin, which means it is backed by fiat currencies such as the British pound, the US dollar, and the Euro, and it theoretically maintains a value equal to one of those denominations. In theory, this means that Tether’s value should be more consistent than that of other cryptocurrencies, making it a popular choice among investors who are concerned about the extreme volatility of other cryptocurrencies.
ApeCoin
ApeCoin is yet another popular cryptocurrency to invest in right now. The team behind the Bored Ape Yacht Club launched the gaming coin in 2022, and it has since gained widespread adoption. For those who are unfamiliar with the concept, this is a platform comprised of 10,000 one-of-a-kinds collectible Bored Ape non-fungible tokens (NFTs). This coin offers some of the best altcoins to buy, all of which are based on the Ethereum blockchain, making it one of the best coins to invest in.
ApeCoin is a cryptocurrency based on the ERC-20 standard that includes governance and utility features. When it was first introduced in early 2022, the price of this top cryptocurrency was approximately $6.40. Within hours, APE tokens were trading for approximately $42 per token on the open market. This figure is approximately 55 percent lower than the price of shitcoin at the time of publication.
Users will be able to access products from various vendors, including eBay, HomeDepot, Amazon, Walmart, and others.
Users of ApeCoin will receive a 2 percent discount when they make online purchases using this cryptocurrency, which is a unique feature.
According to the majority of ApeCoin price predictions, ApeCoin is one of the best cryptocurrencies to invest in. You could also diversify your investments by including it in your portfolio.
Binance Coin (BNB)
Binance Coin (BNB) has a market capitalization of more than £46 billion.
Since its launch in 2017, Binance Coin has grown to serve a purpose other than simply facilitating trades on Binance’s cryptocurrency exchange platform.
In 2017, it was valued at less than 10p, but by the first of February this year, it had risen to approximately £277, representing a gain of approximately 377,000 percent.
Ethereum (ETH)
Ethereum, which is both a cryptocurrency and a blockchain platform, is a favorite among programmers because of the potential applications it offers, such as so-called smart contracts that automatically execute when certain conditions are met and non-fungible tokens, which are tokens that cannot be exchanged for cash (NFTs).
Also, Ethereum has seen tremendous growth in recent years. Between April 2016 and February 2022, its price increased by nearly 25,000 percent, rising from approximately £8 to more than £1,980.
Dogecoin
Dogecoin is the most undervalued cryptocurrency to invest in in 2022 if you want to maximize your upside potential.
Last year, Dogecoin was one of the most popular cryptocurrencies to purchase. After all, Elon Musk frequently tweeted about it in a positive light, which aided the meme coin’s meteoric rise in value. To give you a better understanding, at the beginning of 2021, Dogecoin was trading for only $0.002. But, in the year 2022, is Dogecoin a good investment?
Fast forward to May 2021 of the same year, and Dogecoin has reached new highs of nearly $0.76 per coin, according to the most recent data. This resulted in gains of more than 19,000 percent in a period of only five months. However, the price of Dogecoin has since taken a significant dive, with the cryptocurrency’s price hitting 52-week lows of just $0.13 in recent weeks.
Dogecoin price predictions, on the other hand, predict that the meme coin will reach a value greater than $1 by the end of December 2022 if held as a long-term investment. And with that in mind, if you believe in this project, investing in Dogecoin now at a significant discount could result in a tremendous return in the future, given its enormous upside potential.
