When it comes to making money, digital is the way to go—not only when buying or selling stocks, but also with the stocks themselves.
Digital currencies are now booming on Wall Street, making it worthwhile to begin looking into and investing in this area—if you haven’t already, that is!
Like regular stocks, the popularities of cryptocurrencies change each month—sometimes even each week! So, if you are looking to make an investment, it can be tough to know where to start. Here are the top five cryptocurrencies to invest in during 2022.
Bitcoin (BTC)
This cryptocurrency had a strong start in 2022. Its value fluctuated for some time between January and February—its value estimated at being worth $44,000 in mid-January before it took a sudden plunge towards the end of the month. This left many people worrying that it would be the end of BTC.
BTC was one of the first cryptocurrencies to be accessible to those at home, and many investors bought BTC using 4k Lenovo laptops in lieu of more expensive machines, so it is the most accessible. With its rate crashing, however, many were concerned that other cryptocurrencies would soon follow.
Its prices recovered in February, and through most of March, with the price jumping from $44,000to around $48,000 at the start of April. It has suffered another minor blip, but it is still the most stable cryptocurrency at present.
Ethereum (ETH)
At the start of 2022, Ethereum was doing well. However, like BTC, it suffered from fluctuations at the start of the year, with its value being around $3,800 in mid-January. It followed a similar trend as BTC, and therefore dropped in value at the end of the month; but it slowly recovered in February, creeping to $3,500 between February and April. It has had the largest increase of all cryptocurrencies in 2022, with its value rising an estimated 46%. Furthermore, economics experts predict that this will continue for the rest of the year.
Solana (SOL)
In January 2022, SOL was worth $179, but it plunged rapidly—dropping to its lowest value ever in mid-March at $79.
Economists believe this was due to policy changes and security updates from the provider of this currency. However, its rate increased again in the short space of three weeks, and rose in value to $136, which translates to a 72% increase in overall value in less than a month. It is now holding steady at $120,and is predicted to increase again.
Cardano (ADA)
ADA started in 2022 with a value of $1.38, but it dropped to $1.12 at the end of January.
Between January and March, it fluctuated, and seemed to reach an average value of $1.00 in this period. At the start of April, it was valued at $1.19, showing a 60% increase overall from its lowest value.
Terra (Luna)
Luna was valued at $91 at the start of January before decreasing to $50—a near 50% drop.
In March, it seemed to recover, crawling back to its regular value of around $90. It didn’t stabilize, however, and continually increased. At the start of April, it stands at a value of $119.