There are multiple cryptocurrencies with potential besides the Bitcoin in the global cryptocurrency market

Crypto investorsare highly interested in the volatile cryptocurrency market. From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrencies, which can make it overwhelming when youre first getting started in the world of crypto. There are multiplecryptos with potentialbesides the top cryptocurrency in the globalcryptocurrency market, known asBitcoin. This article features the top 10 cryptocurrencies that have gained more value than Bitcoin in 2022.

Ethereum (ETH), is a decentralized software platform that enables smart contracts and decentralized applications (dApps) to be built and run without any downtime, fraud, control, or interference from a third party. The goal behind Ethereum is to create a decentralized suite of financial products that anyone in the world can freely access, regardless of nationality, ethnicity, or faith. This aspect makes the implications for those in some countries more compelling because those without state infrastructure and state identifications can get access to bank accounts, loans, insurance, or a variety of other financial products.

A lot of recent discussion around the energy usage tied to proof-of-work mining models for cryptocurrencies such as Bitcoin has driven some investors to seek out more environmentally friendly cryptocurrencies. Those operating with proof-of-stake models, such as Solana, have been outperforming. It is one of the best cryptocurrencies that have gained more value than Bitcoin in 2022.

Cardano is a blockchain project with over 70% of the total currency, ADA, staked for network validation at a really impressive rate. Part of the reason that so much ADA is staked is due to the cryptocurrencys lack of decentralized applications (dApps) available on its blockchain. While Ethereum has around 5% of its total supply locked as validators, much more ETH is locked in DeFi applications.

Tether is known as the cryptocurrency with a value pegged to the value of the US dollar for maintaining a reputation of a stablecoin, for crypto investors to earn some profit in crypto wallets. This crypto with potential is better than Bitcoin for its ability to use like digital dollars. It is one of the best cryptocurrencies that have gained more value than Bitcoin in 2022.

BNB is the cryptocurrency backed by Binance which is the worlds largest exchange. BNB allows users of Binance to reduce trading commissions. The token is also used to fuel the Binance Chain and the Binance Smart Chain which are two independent blockchain networks. This means that BNB has a real use case. Binance also burns BNB tokens reducing the overall circulating supply which can help further increase the value of the token.

USD Coin (USDC) is a new stablecoin that is linked to the US dollar. USDC is a USD-backed cryptocurrency that competes with Tether (USDT) and TrueUSD (TUSD). USD Coin, in a nutshell, is a service that tokenizes US dollars and allows them to be used on the internet and public blockchains. Furthermore, USDC tokens can be converted to USD at any moment. The ERC-20 smart contract ensures the issuing and redemption of USDC coins.

When investing in crypto, one of the most important things to look at is a coins purpose. Many fall short in this area, as they dont have a defined purpose or they dont do anything different than dozens of other coins. XRP is unique in that its intended for financial institutions and payment services, unlike other cryptocurrencies that are aimed at consumers. In using XRP, banks and other financial companies can transfer money without needing to pre-fund accounts in other countries or pay hefty foreign exchange fees.

Terra is a public blockchain protocol that deploys stablecoins cryptocurrencies whose value is pegged to an underlying asset. It is most common that stablecoins are pegged to the U.S. dollar. The Terra blockchain uses stablecoins to enable price-stable global payment systems to support the mass adoption of cryptocurrencies. Terra is a type of cryptocurrency that has three main apps on the platform: Anchor, a savings service that offers competitive yields; Mirror, which allows investing; and Chai, a mobile payment app.

Avalanche is one of the few blockchains that can scale without sacrificing decentralization. Its potential for interoperability with many blockchains is limitless. Avalanche blockchains alter consensus algorithms based on the use case, and the network has more validators than other networks. This crypto with potential is known for the proof-of-stake consensus algorithm for the development of DApps to enhance the platform.

Polkadot (DOT), founded in the year 2016, is a unique blockchain interoperability protocol designed to connect different chains together. It also allows exchanging data and processing transactions for parachains, or parallel blockchains without compromising their security. Developers can create their own blockchains while using the Polkadot security. The core founder of Ethereum, Gavin Wood created Polkadot. The exciting feature of DOT is that it has no hard limit on its total supply. Rather, a new token is constantly in circulation.

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Top 10 Cryptocurrencies that Gained More Value than Bitcoin in 2022 - Analytics Insight

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Some technological innovations revolutionize the way we live and change our political, economic and social structures. The steam engine, for example, spearheaded the industrial revolution by converting the energy generated by boiling water into mechanical motion. This generated vast economic growth, transformed society and altered political institutions. At Numbrs, we believe Bitcoin is a technology as revolutionary as the steam engine, an innovation that will likely upend the worlds financial and monetary systems, disrupt geopolitical configurations and alter social perceptions of economic value.

Bitcoin is an example of how technology is transforming the global financial system and how it can represent an alternative to the storage of economic value. At its core, Bitcoin is pure, unalterable mathematics powered by blockchain technology. It is a constant stream of cryptographic verification, which keeps an accurate and secure public ledger of transactions without the need for centralized control or financial intermediaries. As part of its mathematical attributes, the supply of Bitcoin is perennially limited at 21 million. No government, person or organisation can change that supply cap, nor can they control this network of transactions, which is now used by hundreds of millions of people, and which settles more transactions than the worlds leading credit card companies. Bitcoins elegant system has attracted hundreds of billions of dollars of capital. What began as a niche movement to restore privacy in a digital age, has become a magnet for increasing amounts of private and institutional capital. According to CNBCs Millionaire Survey, nearly half of millennial millionaires have at least 25% of their wealth in cryptocurrencies. The growing importance of cryptocurrency among young millionaires has the potential to reshape the wealth management industry, as private banks, brokers and wealth management firms scramble to cater to a new, crypto-heavy clientele.

But there is more than just grassroots adoption. National and local governments are just starting to compete in order to attract the capital and innovation emerging from Bitcoin. El Salvador was the first country to make Bitcoin legal tender in 2021. U.S. states like Texas and Florida are developing accommodating jurisdictions for Bitcoin miners, investors and entrepreneurs. Cities in Switzerland, Brazil, the U.S. and other countries have also entered the Bitcoin competition by providing tax and other incentives. In South Korea, the March 2022 presidential elections saw Bitcoin become a central issue. Opposing candidates tried to outdo each other with Bitcoin-friendly campaign promises to win over the young vote.

Blockchain is the technology behind cryptocurrencies, and it can be thought as a massive public database shared by everyone and controlled by no one. In fact, Bitcoins grassroots adoption has been skyrocketing because of the safety and freedom that it offers. These attributes are particularly valuable in times of crisis and this has become clear in countries that are undergoing severe economic crises such as Lebanon, Russia, Venezuela, Argentina and Turkey as well as conflict zones such as Syria and Ukraine. These countries have shown how increasingly difficult is using or transporting heavy precious metals during a period of crisis. The war in Ukraine and the sanctions imposed on Russia, in particular, have proven this point most vividly. People on both sides of the conflict flocked to Bitcoin to avoid the impact of bank runs and to secure their assets in the easiest possible fashion.

Developed conflict-free economies are also enduring economic stress, which further makes the case for Bitcoin. High levels of inflation are decimating peoples purchasing power. This inflation is caused by the expansionary monetary policies of central banks that have kept printing money in order to finance government expenses. As governments continue to debase their currencies and face inevitable inflationary and debt crises, the power of blockchain technology will inevitably become increasingly recognised and a growing number of people will recognise the value of Bitcoins sound-money system. We believe there will come a tipping point where traditional fiat currencies become less desirable to commerce and individuals alike. At this point, people will look for other solutions and Bitcoin, due to its intrinsic features, practicality and limited supply, will become the only viable alternative. Its limited supply means that its purchasing power will not be constantly disintegrating as a result of conscious government policy. Instead, when applied systemically, it would introduce a deflationary system that increases purchasing power and gradually reduces the gargantuan debt burden which society has accumulated.

Once Bitcoin becomes the basis of a new monetary system, it will also be apparent how outdated and socially destructive the concept of wealth-preservation through the acquisition of precious metals is. Ecosystems are destroyed and labour is often abused in order to dig up precious metals from the ground. These metals are then melted and reshaped before they are put back underground in vaults. It also costs considerable time, money and effort to move these metals around and requires a sophisticated verification system of assaying to ensure the quality of the metal is equal to what is being proclaimed. Bitcoin, on the other hand, allows vast quantities of economic value to be moved across the planet instantly and safely.

Society will gradually realise that crypto should be seen as an unfolding virtual world where digital possessions will be similar to physical ones, virtual experiences similar to actual ones. The Bitcoin revolution has begun were sure it will change the world.

Fynn Kreuz is the CEO of the Swiss Bitcoin company Numbrs.

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A widely-followed analyst is pessimistic about the trajectory of the wider crypto market and three digital assets in particular.

Starting with Bitcoin (BTC), pseudonymous crypto analyst Capo tells his 258,900 Twitter followers that he expects the flagship cryptocurrency to retrace by 50% from current levels.

Capo also says that the prices of altcoins will fall drastically as the total cryptocurrency market cap sheds over half of its value.

Im expecting 50-70% retracement on the entire market (50% for BTC, 60-70% for altcoins).

Bitcoin is trading at $42,479 at time of writing. A 50% drop for Bitcoin would see it retrace to a price of around $21,000. The total crypto market capitalization is slightly above $2 trillion at time of writing.

Capo had said earlier this week that Bitcoin was likely to drop below $30,000. Capo also said that Bitcoins recovery from below $39,000 at the start of the week was a dead cat bounce and warned against getting trapped above $40,000.

Next up is Chainlink (LINK), a decentralized oracle network that allows blockchains to obtain off-chain data.

Capo says that his main target for LINK is between $5 and $5.50, over 60% lower than the current price.

LINK

Main target: $5.00-5.50.

Chainlink is trading at $14.25 at time of writing.

The native token of the blockchain-based virtual gaming world The Sandbox (SAND) is the third crypto asset that Capo is bearish on.

Capo says that SAND is exhibiting a descending triangle bearish pattern similar to one that Bitcoin displayed in 2018.

According to the crypto analyst, SAND could fall by more than 60% from the current price.

SAND

Clear descending triangle, similar to BTC in 2018 with the 6k support.

Main target: $0.95-1.00.

SAND is trading at $2.90 at time of writing.

Featured Image: Shutterstock/David Sandron/bestfoto77

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Top Crypto Analyst Issues Warnings for Bitcoin, Chainlink and The Sandbox Here Are His Targets - The Daily Hodl

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Get to know some of the financial gurus who've switched from Bitcoin critics to believers.

There are many things we don't know about what the future holds for Bitcoin (BTC) and cryptocurrency. But one thing's for sure: The sprawling industry has attracted its share of fierce critics and loyal fans and will continue to provoke extreme reactions for a while.

But what of the people who changed their minds? According to research by crypto exchange Gemini, over 40% of crypto owners worldwide got started in 2021 -- which is just one indication of the evolving attitudes toward crypto. Lets take a look at three billionaires who changed their minds on Bitcoin.

The Shark Tank judge and Dallas Mavericks owner is now a huge cryptocurrency convert. He said recently that 80% of his non-Shark Tank investments are in and around crypto. He believes crypto can disrupt the way that many traditional companies operate, and he's particularly excited about the potential of smart contracts.

But he hasn't always been so bullish on blockchain. In a 2019 YouTube video, Cuban said he'd rather have bananas than Bitcoin. "I'd rather have bananas," he said. "I can eat bananas. Crypto not so much." Now he believes Bitcoin is digital gold and crypto is money 2.0.

Dalio's views on crypto are quite nuanced, but he's certainly moved from being uncertain about Bitcoin to being a Bitcoin investor, albeit an uncertain one. Back in 2020, the Co-Chairman & Co-Chief Investment Officer of Bridgewater asset management firm tweeted that he thought he might be missing something about Bitcoin. He raised concerns that it doesn't make a great medium of exchange, is too volatile to act as a good store of wealth, and would likely be outlawed by governments if it becomes too successful.

Fast forward today. Not only are there rumors that Bridgewater will launch a crypto fund, but Dalio also says he owns a small amount of Bitcoin. However, he says, "Bitcoin looks like a long-duration option on a highly unknown future that I could put an amount of money in that I wouldnt mind losing about 80% of."

Among other things, Dalio recognizes that it's an "amazing accomplishment" to create a new type of digital money that's worked for 10 years. He also thinks Bitcoin has crossed the line from a speculative idea to something that could have value. But he's still concerned about cyber risks and government intervention.

Kevin O'Leary is another Shark Tank judge who's become a crypto fan. The man who called Bitcoin a "giant nothing burger" in early 2021 has now backed -- and even given his nickname to -- a crypto app called WonderFi that aims to make decentralized finance accessible to all. He's also become an official ambassador for the FTX cryptocurrency exchange.

O'Leary was initially concerned about the regulatory environment and Bitcoin's environmental impact. His native Canada relaxed restrictions on Bitcoin, which eased some of the prolific investor's concerns. He also took positions in clean Bitcoin mining companies so he could be confident he only owns sustainably-mined coins. These two factors combined contributed to his turnaround. He now argues that green Bitcoin mining is a huge investment opportunity.

These aren't the only billionaires who've changed their stances on Bitcoin and cryptocurrency. But these three highlight some of the wide-ranging concerns and viewpoints about what is still a relatively new asset class. If you're considering buying Bitcoin, it's good to understand what drives the skeptics, the believers, and everything in between. Then you can make up your own mind about what's right for you.

As Dalio points out, it is a high-risk asset that could produce huge gains, but also could lose a lot of its value. One of the big unknowns is how increased regulation will impact crypto's development. Various countries including the U.S. are inching toward clearer regulatory frameworks, but the details are still unclear.

The high levels of risk is why investing in cryptocurrency is as much about your individual financial situation as it is about your belief about its potential. The golden rule is to only invest money you can afford to lose. That way if the market crashes, it won't be financially devastating. It's also important to prioritize other financial goals ahead of crypto investments. If you're paying down debt or building up an emergency fund, take care of these financial bases first. Once you're on top of them, you can see how crypto might fit into your wider investment planning.

It's interesting to see how some of these financial gurus' opinions have evolved. If nothing else, they highlight that there's no right or wrong decision, beyond treading carefully and doing your research.

There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide what features that matter most to you.

To help you get started, our independent experts have sifted through the options to bring you some ofour best cryptocurrency exchanges for 2022. Check out the list here and get started on your crypto journey, today.

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These 3 Billionaires Changed Their Minds on Bitcoin. Should You? - The Motley Fool

Dogecoin ( DOGE -1.47% ) is already beating Bitcoin ( BTC -0.76% ) in some ways. In others, the digital coin with the adorable dog mascot is miles and miles behind the largest and oldest cryptocurrency. Moreover, the technical platforms are quite similar since Doge is a distant descendant of the Bitcoin system -- with some tweaks along the way.

After coasting along with minor price gains over several years, Dogecoin entered the spotlight during the social media whirlwind of early 2021. Coin prices have retreated a long way from the peak of that craze, but Dogecoin still outperformed Bitcoin over the last two years:

Dogecoin Price data by YCharts.

Is Dogecoin poised to kick Bitcoin off the crypto-sector's throne in the long run?

First, let's have a short history lesson.

Bitcoin was arguably the first cryptocurrency on the planet. Based on a 2008 white paper by a still-unknown author by the code name Satoshi Nakamoto, the first Bitcoin block was mined in 2009 and the first commercial transaction took place the next year. Back then, 10,000 Bitcoins bought two pizzas -- a transaction that would be worth $4.1 million at today's Bitcoin prices.

Many enthusiasts mined Bitcoin with their own computers and graphics cards, at first. It wasn't long before specialized Bitcoin mining semiconductors appeared on the market, ripping through the mining algorithms at speeds that even the best PC hardware couldn't match. In response to this mining issue, Litecoin ( LTC -1.76% ) was created in 2011 as a payments-focused Bitcoin clone with a couple of key tweaks.

This cryptocurrency uses a different mining algorithm known as scrypt, a deliberate choice that makes it better suited for ordinary computer systems. Furthermore, Litecoin's technical parameters are different, resulting in faster transaction settlements and a lifetime maximum of 84 million coins versus 21 million for Bitcoin. The downside to these efficiency improvements is a less ironclad security system that might be easier to hack.

Next in this heritage chain was Junkcoin, an experimental offspring of Litecoin that stuck with the PC-friendly scrypt system and raised the number of total coins. Luckycoin followed as a Junkcoin clone, boosting the coin cap even further. These days, Litecoin remains a serious cryptocurrency, but the Junkcoin and Luckycoin stepping stones are mere footnotes in cryptocurrency history.

Finally, Dogecoin began life in 2013 as a tweaked clone of Luckycoin. We're still looking at the scrypt mining algorithm, but the cap on lifetime coin production is gone. Each new Dogecoin block is also rewarded with 10,000 new tokens, compared to 50 Litecoins or 6.25 Bitcoins per freshly mined block of those cryptocurrencies.

Here's what we have after that step-by-step chain of cryptocurrency evolution.

Bitcoin is a dead-serious cryptocurrency, designed as a secure system for the long-term store of value. You can also pay for things with this digital coin, but money transfers take a while and come with significant transaction fees. Today, Bitcoin's total market value stands at $868 billion and the price per coin is approximately $41,300.

In the other corner, Dogecoin was originally launched as a joke between two programmers with no real long-term goals and ambitions. The technical tweaks have created a more nimble system for digital payments with faster and cheaper transactions, but at the cost of weaker data security. The lack of a hard cap on the number of Dogecoin tokens also points to massive inflation in the long run. Dogecoin's market value adds up to $18.9 billion at a price of $0.14 per coin.

Bitcoin miners have to use specialized chips because PC processors and graphics cards simply can't compete against chips specially designed to process the underlying SHA-256 encryption routine. Dogecoin's scrypt system is more inviting to ordinary hardware with a large supply of memory chips, so it's a better choice for crypto-mining enthusiasts with fast graphics cards.

Image source: Getty Images.

At the end of the day, these two cryptocurrencies have a lot of shared DNA and history but are very different when it comes to real-world utility. If anything, Dogecoin could challenge Litecoin or Ripple as an efficient money-transfer platform, but even that ambition seems to fall short when you consider Dogecoin's incoming inflation and its lighter focus on data security.

The coin has one more thing going for it, and that's the lighthearted marketing message with microscopic coin prices and a cute mascot. In the hands of a master marketer, that could be enough to create a cryptocurrency with long-term value. Maybe. Perhaps. You never know.

But Dogecoin will never take Bitcoin's place in the cryptocurrency universe because that was never the plan in the first place.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Is Dogecoin the Next Bitcoin? - The Motley Fool