If I Could Only Buy One Cryptocurrency in 2022, This Would Be It
In 2022, there will be opportunities for investors to purchase high-quality cryptocurrencies.
But if you could only buy one, I'd go with this one.
After two years of significant growth in cryptocurrency popularity,
there is a significant revolution underway. Speculation is no longer limited to investors.
There are several high-potential projects with a plethora of growth opportunities.
Finding a high-quality cryptocurrency to buy in
2022 is a wise choice if you're looking for a high-potential growth investment.
However, there are a few things you should know about cryptocurrencies
before deciding to commit and invest your hard-earned money.
First and foremost, you should learn about the coin and the projects to
which it provides exposure. Is it used to purchase goods as a digital currency,
or as a token to invest in decentralised finance (DeFi) projects? It could even
be used to purchase digital land in one of the many upcoming metaverse projects.
Determining what the coin or token does will aid in determining its worth.
If the use cases it provides have real value or distinguish it from
the thousands of other tokens on the market, it should have a lot of long-term potential.
With that in mind, here's one of the best cryptocurrencies to buy in 2022.
One of the best cryptocurrencies to buy and hold in 2022
All of the projects built on blockchains offer some of the best opportunities for
investors today. New projects are being created on a daily basis
because several of the most widely used blockchains are smart contract compatible.
Play-to-earn video games, NFTs, DeFi, and even popular metaverse projects are examples.
As a result, each of these individual projects,
as well as the blockchains on which they operate, has enormous growth potential.
Fantom, which has the native token FTM, appears to be the best investment for 2022 in my opinion.
One of the first and most important reasons Fantom has potential is that it is an Ethereum
compatible blockchain, which means that projects built on Ethereum can also be built on Fantom.
Furthermore, it means that investors can easily connect
cryptocurrencies like stable coins from any Ethereum-compatible blockchain network to Fantom.
This ease of use is critical for attracting new users, and it incentivises developers to launch
their projects on the network as well, making it one of the best cryptocurrencies to buy in 2022.
How to Calculate Fantom's Value
As more investors look to invest in DeFi projects, a blockchain like Fantom has a lot of promise.
Other Ethereum-compatible chains, such as Polygon,
Avalanche, and Binance Smart Chain, are all among the top 14 cryptocurrencies by market cap, with
Polygon having the lowest market cap of the three, valued at approximately US$18 billion today.
Meanwhile, Fantom is the 28th most popular cryptocurrency,
with a market cap of only US$7.5 billion, despite a 30 percent rally in the last seven days.
The network, and thus its currency, are becoming increasingly popular.
However, because it is still so cheap, it represents an incredible opportunity right now.
In fact, Fantom's market cap to total value locked ratio (one of the best ratios for determining a
token's value) is quite low at 1.25. As a result, the token should continue to have a lot of upside,
making it one of the best cryptocurrencies to buy in 2022.
In comparison, the market value to TVL ratios for Ethereum, Binance Smart Chain, Avalanche,
and Polygon are 2.3 times, 5.4 times, 2.2 times, and 3.1 times, respectively. So,
clearly, Fantom is the cheapest of the bunch, with a market cap-to-TVL ratio of just 1.25.
As a result, with all of these cryptocurrencies' potential and Fantom's low price,
if I could only buy one token for 2022, Fantom would be my first choice.
Investing in this tiny TSX stock could be akin to purchasing Tesla in 2001.
Our team of diligent analysts at Motley Fool Stock Advisor Canada has identified one little-known
public company founded right here in Canada that is at the forefront of the space industry
and recently completed a transformational acquisition, all while turning a tidy profit!
The best part is that, in a market where many stocks are trading at all-time highs,
this stock appears to be trading at a VERY reasonable valuation, for the time being.
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