The crypto market is guided by trends and seasons. The market dynamics and fundamentals of previous trends and seasons set the pace for the next ones.
Trends So Far…
So far in 2022, it’s been a crypto winter! The crypto market has been on a downward spiral. First, the market took a beating when the Federal Reserve hiked benchmark interest rates to battle inflation. Things then grew from bad to worse when the algorithmic stablecoin, TerraUSD lost its dollar peg. Celsius pausing withdrawals and the liquidation of Three Arrows Capital, a prominent hedge fund, also caused the bears to ravage the market further.
But despite the gloom hovering the market, there are certain cryptocurrencies that have gained and sustained momentum within the year. They are coins to watch, especially as the Fall of 2022 approaches.
Cryptocurrencies to Watch in the Fall of 2022
Many consider DOGE a cryptocurrency without real utility. However, the premier meme coin, DOGE, is first on this list. DOGE has largely followed the bearish trend of the market in 2022. As at press time, DOGE trades at $0.07013. This contrasts greatly with its 2021 performance, where it surged by 9,884% within five months (January to May), peaking at $0.74.
Despite its lackluster performance this year, DOGE is a coin to watch. The cryptocurrency which was created to mock Bitcoin, has learned to attract and ride on celebrities’ interest. It caught the eyes of Elon Musk in 2019. And it has now caught the eyes of another business mogul, Mark Cuban.
In a recent podcast interview, the billionaire entrepreneur and owner of Dallas Mavericks stated that Dogecoin has more potential than Cardano, even though the latter is a platform for smart contracts. Last March, Dallas Mavericks announced that fans could use Dogecoin to purchase tickets and merch.
Although Dogecoin has been said to have no utility, it keeps attracting top investors. And these investors are not just keen on buying and holding the currency, they are seeking ways to expand its utility.
Avalanche is an Ethereum rival. And it lived up to this reputation. Avalanche’s uniqueness lies in its architecture: it runs on three blockchains. Individually, these blockchains serve different purposes, but they collectively prime the Avalanche network for speed and scalability.
Recently, Ava Labs released the AvalancheGo Verbier, a network upgrade that puts users in control of their cross-chain assets and simplifies access to dApps across networks. This development will allow Avalanche to scale into a larger platform and improve its utility.
AVAX, Avalanche’s native token, reacted positively to this upgrade. It grew from $27.7, touched $30.0, and currently trades at $29.13.
Theta Network is revolutionizing video streaming through decentralized and affordable video streaming platforms with solid infrastructure. This will maximize user experience and allow content creators earn commensurate premium for their works. Theta Network has been living up to this mission.
Samsung recently announced a partnership with Theta Labs to create and manage an NFT ecosystem for their latest Galaxy mobile phones. Samsung aims to improve its customer experience through NFTs, and they want Theta Network to play a role. Theta would issue Galaxy NFTs to Samsung users. According to Theta, they are launching the largest offline NFT utility campaign that would allow over 100,000 NFT holders to use Theta NFT online or offline through ThetaPass technology. This technology is an NFT ticketing system that allows uers access virtual events.
THETA has reacted favourably to this partnership. As at press time, the token is worth $1.62, an 18% increase from its price 7 days ago.
Launched in March 2022, ApeCoin is that youngling taking giant strides in the crypto/blockchain space. The coin keeps expanding its utility beyond the APE Ecosystem.
Recently, Bitcoin payment service provider, Bitpay, added ApeCoin to its platform. Gucci also became the first major brand to accept ApeCoin payments. As a matter of fact, Gucci clients can make payments using ApeCoin through Bitpay.
News like these put ApeCoin in a favorable light in the sight of investors, thus making it a cryptocurrency to watch out for in coming months.
Ankr provides an infrastructure where decentralized apps and blockchains can operate and communicate with one another. It is a platform committed to the future of Web3. This is why it recently upgraded its network to Ankr Network 2.0, which it describes as a “decentralized marketplace for Web3 infrastructure.”
The token, ANKR, is a cross functional utility token for transactions and payments. It can function as an ERC-20, BEP-2, and BEP-20 token. To expand ANKR’s utility, users can now stake their ANKR to earn rewards across the Ankr network.
As the world gradually embraces Web3, it will be safe to predict a massive development on the Ankr network, which will lead to a surge in ANKR’s value.
How to Spot the Next Big Cryptocurrency
The analyses of the five coins already give an inkling into how to spot the next big currency. Cryptocurrencies that go on to be valuable and profitable all show similar qualities.
- They have solid use-cases: Bitcoin was created to disrupt traditional finance. Ethereum was created to advance decentralized finance and provide platforms for smart contracts. Theta Network is reinventing video streaming. These utilities ensure that the world would always have a need to use these projects. And as these utilities expand, the value of the token or cryptocurrency will increase.
- They are built on concrete technologies: The big cryptocurrencies are able to offer their utilities because they are built on solid technologies. Bitcoin was built on a blockchain, which has birthed other blockchains that offer security and scalability. Avalanche runs on three separate blockchains to offer speedy and scalable services. Ankr’s technology was created specifically for Web3 infrastructure.
The utilities and technologies make them an object of attraction for investors and institutions.
- They readily attract funding and partnerships: It is easy for top institutions to partner with crypto projects with real utilities and solid technologies. Since crypto is the future, these institutions see the need to incorporate crypto technologies into their products. By doing this, they extend the use-cases of the projects and make them more valuable.
The current state of the market does not determine the future of the market. What we have done is to provide suggestions on the likely coins to watch out for in the Fall. This should guide you as an investor to spot other coins that may also do well this Fall. Once you have done that and carried out other necessary due diligence, invest early. Invest today. Use 7b, secure and anonymous crypto exchange, and enjoy low crypto trading fees.