Development In Digital Assets 2022: The Digital Asset Market is growing rapidly all over the world, with many investors purchasing cryptocurrencies and NFTs from the market and investing in projects and tokens. There are more than 18,000 cryptocurrencies and 10 billion NFTs in the market. Before we dive into the best cryptocurrencies and NFTs to invest in, let’s have a small introduction to digital assets.
Simple Introduction to Cryptocurrency and NFTs
Cryptocurrencies are exchanged mediums developed using Blockchain technology. It is a digital form of a coin that stores information using cryptography. The computer system stores and mines cryptocurrencies in digital format. It can be transferred from one user to another using e-wallets. It operates on a decentralized platform and does not need a server to maintain user transactions and other details. The individual user nodes on the network act as a server and process all the transactions.
NFTs are digital assets minted in the Tokens platform using the Blockchain. It is a virtual form of tokens to store images, audio, gifs, video, etc. The NFTs are transferred using an e-wallet. Artists can mint their NFTs easily and sell their assets without any restrictions by listing them on the NFT Exchanges.
Best Digital Assets to Invest in 2022
Investing in the market is a very tough call. Therefore, we need the best guidance on the market and which project or companies we will invest in. The same goes for cryptocurrency development. Even here, the basics need to be understood by the investors before making any investments. Below we share the list of cryptocurrencies that have had good growth in the last few months of analysis, and you can have a look and decide for yourself based on your thoughts.
- Bitcoin :
Well, it’s no surprise that the list starts with the most popular one. Everyone has heard about, even people not interested in the crypto market, might have heard about Bitcoin. Ever since its introduction in the market in 2008. It was developed by an unknown person only named Satoshi Nakamoto.
Bitcoin holds the highest value in cryptocurrency. The currency value of Bitcoin is around $43,450. It has the largest market capitalization of about $880 billion. Bitcoin operates on distributed ledger and must be verified by solving a cryptographic puzzle in a process called proof of work.
- Ethereum :
Ethereum is a decentralized network and an open-source Blockchain technology with a smart contract. Ethereum is growing due to its application in various fields other than using it as an exchange medium. It was launched in 2015. It allows users to develop and deploy decentralized applications with any central authority.
Ethereum allows the developers to mint NFTs based on their business requirements. These tokens are used to represent real-world assets such as art, music, video, image, etc. The current value of Ethereum is around $3,297. It is the second most valued digital coin after Bitcoin.
- Binance :
Binance Coin is a virtual currency created by the Binance exchange and is traded under the symbol BNB. BNB is the primitive currency of Binance’s ledger, the Binance Chain, and was originally based on the Ethereum platform.
BNB is well-known within the Binance network for its numerous applications. Various functionalities impact the coin’s price, from fee payments to staking in the BB Vault. BNB is also a somewhat accessible currency. It is the world’s third most valued virtual currency, and most crypto exchanges recognize it. The current value for BNB is around $432.
- Dogecoin :
Dogecoin is the first meme and dog coin. It was originally formed as a joke. It was introduced in 2013 and started its online community. Its market capitalization is around $85 billion.
Dogecoin is one of the greatest cryptos to day trade for various reasons. It’s the poster child for meme coins, which are resources that don’t have a defined use case but are nevertheless valuable. It is a highly volatile coin, therefore benefiting cryptocurrency day-traders in the market.
The high volatility of the Dogecoin is further enhanced by the tweets and speeches of a business person such as Elon, which boosts its value.
- Tether :
Tether is a stable coin, unlike other cryptocurrencies in the crypto world. It is backed by fiat currencies like the US dollar and Euro. The Tether Crypto coin keeps the value of those in denominations by the fiat currency. It is hosted on Ethereum and Bitcoin blockchain networks.
The Hong Kong company Tether limited distributes tether tokens. Currently, the market capitalization of Tether coins is around $80 billion.
- Lucky Block NFTs
Lucky Block is a virtual currency startup specializing in decentralized lottery games, and it was launched in 2022. The Lucky Block ecosystem – which can be accessed through the best crypto mobile app or desktop software – allows lottery participants from all over the world to participate in games securely and transparently.
- Bored Ape
Bored Ape Yacht Club is an NFT collection developed in the Ethereum network. The collection has pictures of apes that are minted using an algorithm. The project launched in 2021. The owners of the Bored Ape NFT are granted to the private online club. The total sales of the NFT are around $1 billion.
In the crypto market, day trading may be quite profitable. It allows you to profit from changes in coin prices and is an excellent way to maximize your income. You must be able to make a profit as long as you have the appropriate method and can identify the correct cryptocurrency. NFTs, on the other hand, have value based on the creator and the data it contains, such as audio or video. NFTs are mainly used for ownership purposes. Both Cryptocurrency development and NFT development are changing the financial world with their presence.