Kickstart 2022: Top 3 Cryptocurrencies to Invest in This Year

• Cryptocurrency Landscape Review: Navigating Towards 2024
• Bitcoin (BTC)
• Solana (SOL)
• Cardano (ADA)
• Future Crypto Opportunities

Cryptocurrency Landscape Review: Navigating Towards 2024

The crypto market has been a roller coaster of ups and downs, with Bitcoin$42,260 -0.64% (BTC) experiencing a 5% drop in just one hour. Yet, it's not all doom and gloom. Bitcoin has shown an impressive 65% rise in value since mid-October, peaking at $43,800. As we look towards the end of the year and beyond to 2024, it's important to reassess the crypto market and identify potential opportunities. Let's take a closer look at some notable crypto assets that are worth considering for your portfolio.

Bitcoin (BTC)

Bitcoin, the original and largest cryptocurrency by market capitalization, continues to hold its ground. Despite recent market turbulence, Bitcoin remains a promising prospect for 2024. Its acceptance as legal tender in certain countries and increasing mainstream popularity affirm its enduring status as the bedrock of the crypto world. Currently, BTC is trading at around $42,300, showing a 3.7% rise from the previous week.

Solana (SOL)

Solana$104 5.03%, a blockchain infrastructure designed for modern internet applications, has been gaining considerable traction in the cryptocurrency domain. With the use of Proof of History (PoH) and Proof of Stake (PoS) consensus mechanisms, Solana offers high throughput and scalability. With transaction fees as low as $0.0002, Solana is an attractive option for both developers and users. Recently, Solana has seen a significant spike, standing out as a top performer in the altcoin market alongside Cardano and Avalanche, each experiencing weekly surges of over 40%. Solana's Total Value Locked (TVL) has also increased to about $670 million as of Dec. 5, according to DefiLlama data. Even though this falls short of late 2021 levels, when SOL's price topped $250 and its TVL exceeded $10 billion, Solana remains a strong contender for future growth.

Cardano (ADA)

Cardano, a public blockchain platform, has been generating interest with the launch of AdaSwap, a test version designed to pave the way for decentralized finance (DeFi) applications. Employing an open-source, decentralized framework and using PoS for consensus, Cardano uses its native cryptocurrency, ADA, for peer-to-peer transactions. Notably, Cardano has seen a substantial 59.14% rise in the past week, its largest weekly gain since August 2021. The bullish trend for Cardano that started in mid-October shows no sign of abating, setting the cryptocurrency up for its eighth consecutive week of gains. The ongoing week has seen six consecutive days of positive performance, with Cardano peaking at $0.6448 before a minor correction.

Future Crypto Opportunities

The volatility and excitement inherent in the cryptocurrency market, the top picks for December offer investors a glimpse into potential opportunities that may unfold as we approach the new year. Bitcoin's enduring dominance, Solana's potential for scalability, and Cardano's recent remarkable gains highlight the diversity and resilience within the cryptocurrency landscape. As we move towards 2024, keeping a close watch on these digital assets could be beneficial for those navigating the dynamic world of cryptocurrencies.

Edited by Jonathan Stoker