Top cryptocurrencies recovering from a 2022 crash





cryptocurrencies

It’s easy enough to determine if and when a crash occurs, some prominent cryptocurrencies survive

Price volatility is a major concern in the cryptocurrency market. There is also some degree of volatility with the stock market, but the cryptocurrency market, which is fairly new, is less understanding. From all the knowledge that experts have, a recent trend has been noticed by analysts: cryptocurrency crashes that usually happen on weekends. Stephen McKeon, a finance professor and partner at Collab+Currency, a crypto-focused investment fund, explained in an interview that liquidity requires a study of buyers’ and sellers’ offerings. If there are few buyers compared to sellers or vice versa, fluctuating trades will result in a spike or crash. A good place to start is the top 20 most traded cryptocurrencies. It’s easy enough to determine some of the prominent survivors in this list, if and when a crash occurs in cryptocurrency markets.

Bitcoin

Bitcoin price has fallen to US$43,030 from its high of over US$47,700 on January 1, 2021. Falling cryptocurrency prices have dampened the festive mood of retail crypto investors. But the downward price movement in crypto markets is nothing new, so not surprising for hardcore crypto enthusiasts. Bitcoin is the original cryptocurrency and is rapidly emerging as a store of value. The blockchain and codebase have also spawned offshoots such as Litecoin and Bitcoin Cash. Both are aiming to become the preferred cryptocurrency for day-to-day transactions.

Ethereum

Ethereum, the second largest cryptocurrency by market cap, also saw a significant drop. The Ethereum-based cryptocurrency witnessed an 8.3% decline in the past 24 hours after a healthy start to the year. However, the world of Ethereum decentralized applications or Dapps is rapidly gaining ground and is responsible for a whole host of tokens like Populous, which are built off the platform.

XRP

XRP is an open-source cryptocurrency that uses an open-source distributed ledger, the XRP ledger. It is the original coin of Ripple, an enterprise blockchain company that enables global transactions. The makers claim that XRP is built for payments and can handle transactions faster than most other cryptocurrencies, securely and efficiently.

cardano

Cardano is a research-based cryptocurrency built by engineers, mathematicians and cryptography experts. It is open source and decentralized, with consensus reached using proof-of-stake. It can also facilitate peer-to-peer transactions with the ADA token. Cardano is one of the cryptocurrencies recovering from a 2022 crash.

polygon

This platform appears to be addressing many of the issues facing the Ethereum blockchain while still offering Defi solutions. Namely, the platform appears to be creating “Ethereum’s internet of blockchains” by connecting Ethereum-compatible blockchain networks and aggregating scalable solutions on Ethereum. It is also one of the cryptocurrencies recovering from a crash.

Litecoin

As one of the first digital currencies, Litecoin is increasingly being adopted for use in the real world, making it one of the fastest growing digital currencies. The team has been continuously improving the network to increase speed, reduce costs and increase security, making Litecoin one of the most attractive payment platforms. The latest update is about the increasing adoption of Litecoin in the real world. More organizations are adopting LTC, most recently NetCent, Bitpay and Verifone. Now Litecoin holders can buy goods and services from these stores. Litecoin Gaming is another recent development that the team has informed the community about. There’s more coming from the team.

Chain link

Chainlink was designed with the motive of making smart contracts more useful. It is a decentralized network of oracles, capable of bringing real-world data to any blockchain network. Chainlink is the largest and most popular oracle network. Due to the ability to integrate real-world data, the demand for Chainlink oracles will grow in the future.

Dot

Polkadot was created on the basis of research that identifies the hurdles that blockchain networks will face in the future as crypto becomes more mainstream and promotes various innovations in the industry. One of the defining characteristics that DOT possesses is that it operates on a network that can connect other blockchain networks.

Dogecoin

The fact that Dogecoin is still going strong after not being taken seriously is a statement in itself. First, Redditors pushed the price to new heights in early 2021 as a way to avoid the speculated short-selling of Dogecoins by many Wall Street hedge funds. And then Elon Musk called himself the “Dogefather” who further promotes this cryptocurrency. While many dispute the legitimacy of this coin, Dogecoin continues to maintain its share of the market value.

Shiba Inu

Launched in August 2020, the rise of Shiba Inu in such a short space of time is downright uncanny. At one point, Dogecoin remained the top meme currency without much competition. However, SHIB, another namecoin created from online jokes that went viral in 2013, came into play.

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