What are the Top 3 Cryptocurrencies to Watch in 2022?
Crypto investors see the overall macroeconomic scene as grim with more downward potential happening in the coming months. However, many believe in the long term potential of investing in crypto so we’ve compiled a list of top 3 cryptocurrencies to watch in 2022.
What is the Best Crypto Investing Strategy in a Down Market?
Yes, the markets are down but is there any good news? Well, the BTC daily RSI is signaling oversold, so we’re looking for a bump this week or next, which may be a good time to take profits and buy back in when the prices drop back down. The price of BTC inversely correlates with the DXY (US dollar strength index), which is moving up with interest rates increasing and the looming threat of a recession.
At Cannin.com, we’re keeping some cash staked as USDT for 6% APY on Crypto.com, which we’ll use to buy back in when BTC drops back into the 30’s. If you’re already investing in crypto, you’re probably already aware that all crypto is correlated with BTC’s price changes, unless a coin has a unique catalyst driving it’s price.
What is the best crypto investing strategy in a down market? We believe Dollar Cost Averaging is the most proven strategy to leverage in a down market . What is dollar cost averaging? In essence, dollar cost averaging encourages crypto investors to buy small amounts of crypto as often as possible which averages out the ups and downs.
At Cannin.com, we buy when the BTC daily RSI shows oversold or it’s breaching the bollinger bands. We recommend crypto investors accumulate what they can while prices are down as $250K BTC in the next 3-4 years is a solid possibility. Until then, what are the top 3 cryptocurrencies to watch in 2022? Well get to that, but first, let’s talk about crypto staking rewards.
Take Advantage of Cryptocurrency Staking Rewards
What are crypto staking rewards? In essence, if a cryptocurrency allows staking — current options include Tezos, Cosmos, and now Ethereum (via the new ETH2 upgrade) — you can “stake” some of your holdings and earn a percentage-rate reward over time. Think of as being similar to an interest-bearing savings account but with better returns.
Crypto.com and Kraken both have great rewards that you can earn up to 22% APY. This will help you grow your position even when crypto prices have tanked.
The biggest macro news we follow is regulation. Much like the cannabis sector, there’s boat loads of institutional money waiting to flow into the crypto space once there’s some regulatory clarity. Conversely, a pullout of existing institutional could be painful for crypto investors.
Pro Tip: Check out XLM when transferring between exchanges. Trade your coin to XLM, send between exchanges, trade XLM back to you coin. The fees for XLM transactions are less than a penny.
What are the Top 3 Cryptocurrencies to Watch in 2022?
#1 BONE (Shibaswap)
SHIB developers are currently developing a layer 2 blockchain that will host Defi, gaming, NFT’s, and a metaverse. BONE will be the governance and fee token. BONE is currently close to its floor of $0.50. If it makes the Top 100 it will be well over $10, and $30+ if it makes Top 50. If the deployment is unsuccessful or never happens, the token will flop. However, we do like the risk/reward with BONE and believe it to be one of the top 3 cryptocurrencies to watch in 2022.
#2 STG (Stargate Finance)
What is STG? Well, it’s a cross chain Defi protocol with lots of potential. The price is currently suppressed right now due to aggressive vesting schedules, but will be prime for some major increases next bull cycle. The risk is it’s new and the market is saturated with Defi protocols, though not so much with good protocols. We believe STG to have good protocols and certainly should be considered as one of the top 3 cryptocurrencies to watch in 2022.
#3 GLMR (Moonbeam)
GLMR is very new with plenty of potential. It’s a novel cross-chain integration tool. Keep an eye out for it being listed on Coinbase, which will likely cause an instant 5-10X bump. The risk is in the unproven technology but we certainly believe this is a top cryptocurrency to watch in 2022.
What are the Top 3 Cryptocurrencies to Watch in 2022?
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