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Most people are familiar with popular cryptocurrencies like Bitcoin and Ethereum, but there are over 20,000 coins in cryptocurrency today. With so many options available in the cryptocurrency market, it is only natural to invest in cryptocurrencies.
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While investing in cryptocurrencies always involves risk — whether it’s a single coin or spreading your investment across multiple currencies — you can reduce risk and maximize returns by identifying undervalued cryptocurrencies.
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While it is too early to say which undervalued cryptocurrency will maximize your returns, here is an overview of potentially undervalued cryptocurrencies. This will help you make an informed decision.
Before we dive into the detailed list of the best undervalued cryptocurrencies for 2022, here’s a little more about the latest cryptocurrency trends.
Trading volume can give you an idea of the performance of a digital currency. An increase in volume usually indicates a higher degree of liquidity, meaning there are many buyers for coins that owners are willing to sell. This trend is often associated with rising prices.
Conversely, a decrease in volume may mean a decrease in buyer demand, which may force sellers to chase buyers by offering lower and lower prices, leading to lower market prices.
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Among the top 100 cryptocurrencies listed on CoinMarketCap, the following coins had the highest trading volume in the past seven days:
Trading volume is just one of the factors analysts use to predict digital currencies. They also take into account major factors such as economic conditions and the viability and viability of the coins and the companies behind them, as well as other trader sentiments that affect the markets.
Most of these cryptocurrencies barely make it into the media, but they have long-term potential as good investments and may be undervalued at current prices.
Chainlink was founded in 2014 by Sergey Nazarov and Steve Ellis, both of whom had previous experience working with decentralized systems. This network is one of the first to use non-platform resources to integrate data into smart contracts.
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The platform, which was originally used to collect cryptocurrency price data for apps like Aave, now provides data verification services for organizations including AccuWeather, Federal Express and the Associated Press, according to CoinMarketcap.
Despite a steep drop in price and market cap since the start of the year, Chainlink has been something of a moat in terms of early entry into the smart contract space and widespread adoption since then.
Tezos founder and network architect Arthur Breitman first proposed Tezos in a paper published in August 2014. He later published a white paper for the digital currency.
Breitmans founded Dynamic Ledger Solutions in 2015, and DLS was responsible for building the core code for Tezos.
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Tezos is an Ethereum-like blockchain network based on smart contracts. However, there is a significant difference. Tezos aims to provide a more advanced infrastructure than Bitcoin and Ethereum, meaning it can grow and improve over time.
A number of organizations including Manchester United, Gap, Red Bull Racing, Honda and Ubisoft have chosen Tezos for NFT and other projects.
Tezos’ latest contributions could be platforms for wider adoption. At the same time, several exchanges, including Coinbase and Kraken, allow you to earn passive income by staking tezos coins.
Theta is a blockchain-based network created in 2018 specifically for video streaming. The Theta Mainnet is a decentralized network where users share bandwidth and processing resources in a peer-to-peer blockchain network.
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Theta aims to revolutionize the video streaming industry by improving the quality of streaming and making it more efficient and cost-effective. Because it supports smart contracts, other developers can run their own decentralized applications on the Theta platform.
Theta has its own cryptocurrency, also called Theta, and is used to perform various management tasks on the network.
Theta can improve video streaming not only for consumers, but also for content creators and advertisers. Additionally, you can earn a Theta bonus for sharing bandwidth with the network.
Jainti Kanani, Sandeep Neilwal and Anurag Arjun, two experienced blockchain developers and a business consultant, founded Polygon, formerly Matic Network, and launched it in October 2017.
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The goal of Polygon projects is to increase the adoption of digital currencies. This is achieved by improving scalability and adding capabilities to the Ethereum network to create a multi-chain system while reducing costs.
Launched in 2014, Filecoin is a decentralized data storage system built on an interplanetary file system that maintains the integrity of your data. Unlike centralized cloud storage providers such as Amazon Web Services or Cloudflare, you can control your data and have global access to the Internet.
Filecoin is an open cryptographic and blockchain protocol that records the commitments and transactions of network participants. Blockchain uses both replication and spatio-temporal proof.
The unique nature of Filecoin has attracted the attention of the likes of Lockheed Martin. Lockheed and the Filecoin Foundation are collaborating to deploy IPFS in space. If successful, this technology will eliminate the delay in data transmission between Earth and space.
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In August 2018, Hedra Hashgraph raised capital through an initial coin offering for Hedra, its token coin, and in September 2019 opened its network to the public for the first time.
Hashgraph is a blockchain alternative that uses Directed Acrylic Graph technology. Instead of relying on mining to verify transactions, hash graph nodes interact with each other to share data about the network’s transaction history and optionally compare notes to reach consensus.
Hashgraph claims to be able to process over 10,000 transactions per second, compared to 5-20 transactions on the most prominent proof-of-work blockchains. The average transaction fee is only $0.0001 and usually takes five seconds.
Thanks to Hashgraph’s powerful technology, it can outperform many blockchain-based alternatives in many important aspects, including speed, cost, and scalability. This unconventional technology makes Hedra unique among other lower value cryptocurrencies.
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Launched in June 2019, Klaytn is a public blockchain platform. It aims to provide an accessible user experience and development environment.
While its use cases span a number of industries, Klaytn is perhaps best known for its comprehensive Metaverse packages, which allow developers to create monetized games, NFT markets, and other functions on their own. Network.
With an efficient “hybrid” design, the platform combines the decentralization and management of a public blockchain with the low latency and high scalability offered by private blockchains.
Klaytn has already attracted a number of famous brands from all over the world. If it can successfully compete for global market share, it could experience significant growth over time.
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PancakeSwap is currently the most used decentralized platform with USD 3.5 billion raised or locked on the platform. It is an automated platform for creating markets where users can exchange cryptocurrencies and make bets in exchange for their tokens.
To do this, users allocate funds to the liquidity pool, and in return receive special tokens called liquidity tokens. Cash Tokens can be used in a variety of ways, including as a cash deposit, which comes from Cake, PancakeSwap’s own token. Cake owners can use their Cake Tokens to earn more Tokens or enter sweepstakes.
PancakeSwap allows investors to invest in the future of the network and increase profits, but all this comes with inevitable risks.
Quant was founded in June 2018 to connect blockchains and networks around the world without compromising network efficiency and interoperability. This is the first initiative to solve the interoperability problem by developing the first blockchain operating system.
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Overledger, a quantum operating system, was created to allow any blockchain-based project to access other blockchain networks. It can also connect this application to other applications in the blockchain ecosystem such as Ethereum, Bitcoin and Ripple.
According to Crypto News, Quant’s Overledger is a “technology agnostic” platform, meaning its users do not need to work with a specific technology partner to use it. Removing this barrier could help Quant gain wider acceptance among software developers.
Algorand is a self-sustaining decentralized blockchain-based network that provides a secure, scalable, and efficient platform for developers to build their applications on.
The Algorand mainnet was launched in June 2019 and by December 2020 could handle around 1 million transactions per day. The Algorand ICO took place in June 2019 with a token price of $2.40.
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Algorand is working to make its blockchain compatible with Ethereum, which will give it better access to decentralized applications. Therefore, the network can be worth more than the value of the coin.
The digital currency has lost more than $1 trillion in market value since the start of the year, showing just how risky investing in even the most common coins can be.
However, coins that have declined in value simply due to economic conditions and negative sentiment, rather than lack of use or fundamental design flaws, may not currently be valued as seriously.
The challenge is to know the difference at a time when almost all cryptocurrencies are trading at a fraction of their value.