May did not end well, though, and Bitcoin lost over 50%, taking many coins with it. Prices fell across the board, and several crypto experts predicted they would fall even further.
While the market had been on a slow and steady recovery, then came ‘Uptober’. Bitcoin regained the $50,000 mark in October, and suddenly, things were looking up again for the crypto market. The uptrend continued, and Bitcoin recorded an all-time high of $66,100 in October. Altcoin prices began to rise sharply, and meme coins joined the party. Shiba Inu soared, Ethereum reached a new all-time high— the bull run is finally on.
Crypto experts believe this is only the beginning of this bullish cycle, and many believe Bitcoin would hit the $100,000 mark very soon. With increased institutional interest in blockchain technology, more money will find its way into the crypto market. Influencers are beginning to ‘shill’ countless cryptocurrencies and projects as the next big thing.
Although views may differ, and this is not financial advice, here are the top five altcoins expected to soar in the coming year:
Decentraland is a virtual reality platform on which users can create, monetize, and experience content, in what appears to be a world of its own. Users can buy land, build, lease, and do a host of things within the Decentraland metaverse. $MANA is the governance and payment token in the metaverse and is currently trading around $2.6. There is a total supply of around 2 billion MANA tokens, and it is built on Ethereum.
The hype on Metaverse projects is huge presently, thanks to Mark Zuckerberg and Facebook’s decision to rebrand itself, starting with a change of name. The Facebook company will now be known as Meta and has plans to roll out Virtual Reality technology. That single announcement sent $MANA surging from $0.71 to $4.69 in a little over a week. Crypto analysts expect metaverse-themed tokens to surge even further in the coming year, as tech companies around the world turn to Augmented Reality and Virtual Reality.
The Sandbox (SAND)
Another Metaverse project making this list, The Sandbox is a blockchain virtual world, built on Ethereum, that allows users to build, create, and trade digital assets in the form of a game. $SAND is the in-game token of The Sandbox’s metaverse and is used to maintain decentralized governance within the ecosystem. $SAND surged to $3.45 on the back of the Metaverse excitement, and analysts believe it will surge even further in 2022.
Harmony is a blockchain network based on the Effective Proof-of-Stake consensus. The blockchain is dedicated to the development of decentralized applications and DeFi, and the Harmony Grants have generated bullish activity around the $ONE coin. $ONE reached an all-time high of $0.37 in October and has retraced to $0.28 presently.
Harmony (ONE) has been one of the revelations of 2021, and crypto enthusiasts expect the uptrend to continue into 2022 and beyond.
The famed Ethereum killer, Solana, is a Layer 1 blockchain that outperforms several blockchain networks in its category. Solana is capable of processing 50,000 transactions per second, making it the fastest Layer 1 solution in blockchain technology. The network’s processing speed and cheaper transaction fees have resulted in an inflow of liquidity, decentralized application developers, and enthusiasts.
$SOL, the native token powering the Solana blockchain has seen its price surge to over $240 from $0.04 at seed sale. Fundamentals around $SOL remain bullish, as analysts predict the coin could reach the $700 mark sooner than later.
Near Protocol (NEAR)
Near Protocol is a platform built for decentralized applications, designed to make them usable on the web. $NEAR is the native token of the protocol and is used in governance, running validator nodes, and covering transaction fees. The coin is currently trading around $10.5.
$NEAR fundamentals are bullish going into 2022. Recently, the platform unveiled an $800 million grant for developers, as it seeks to begin a foray into the world of DeFi. The news made the token’s price surge to an all-time high of $13.21 on October 26. Stacking up $NEAR coins in preparation for its DeFi evolution should prove a profitable investment.