It is the question on everyone’s lips in the world of cryptocurrency: which coins are primed to explode? After historic gains across the board in 2021, crypto truly broke into the mainstream. Adoptions rates have never been higher, increasing by around 880% from July 2020 to June 2021, and there are now over 300 million crypto users worldwide.
Almost all of the major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), enjoyed substantial growth in 2021. When it comes to 2022, there is almost unprecedented room for competitors to close the gap. Experts suggest there are three major areas in which the market will expand:
- The Metaverse
- NFTs (Non-Fungible Tokens)
- DeFi (Decentralised Finance)
DeFi protocols reached an all-time high TVL (total value locked) of $236 billion in October 2021, and economists from PricewaterhouseCoopers expect that blockchain technologies will boost global GDP by $1.76 trillion by the year 2030. Polygon (MATIC) and Fantom (FTM) have proved extremely popular with DeFi protocols. Seesaw Protocol (SSW) is a DeFi token launching in Q1 of 2022 and will aim to shine in this expanding market.
Polygon is a layer-2 solution that helps to connect Ethereum compatible blockchain networks. The major issue with Ethereum in its current form is its scalability; gas fees can be notoriously high, and on some occasions, cost more than the transaction itself is worth. Polygon, and its native token MATIC, allows users to sidestep these high fees and the sometimes-sluggish speeds whilst still using decentralized apps on the Ethereum network.
In 2021 MATIC saw a rise of over 16000% from the beginning of January to its peak, which was reached in December. Polygon will look to establish itself as one of the top 10 cryptocurrencies in 2022 (it is currently ranked 13th) and can do so by embracing newer markets such as the purchase and sale of NFTs. NFT transactions with MATIC are already often cheaper and easier than those purchased with ETH, and crypto analyst Lark Davis believes that “a $10 MATIC is inevitable.”
Fantom is a smart contracts platform that provides DeFi services to developers. Fantom’s focus is the speed at which transactions are conducted, and claim to have reduced the speed of transactions with FTM to under two seconds. FTM forms the backbone of transactions on the Fantom platform and allows its users to stake FTM to gain rewards. Fantom currently has over 1.4 million unique addresses.
2021 was an extremely successful year for FTM. It began the year at $0.01692 and soared to a new all-time high of $3.48 in October, a 20000% increase over the course of 10 months. Given it is much faster at processing transactions than the leading DeFi ecosystem Ethereum, 2022 could be a huge year for Fantom. It remains outside the top 25 cryptocurrencies by market cap but has the utility and the popularity to find itself in the top 20 by the end of the year.
Seesaw Protocol (SSW)
With its launch in the first quarter of 2022, Seesaw Protocol joins the growing number of DeFi protocols making a splash. Its creators intend for it to be multi-chain, beginning on the Binance Smart Chain, and expanding to the Polygon and Ethereum networks.
Using its native toke SSW, Seesaw Protocol allows its users to conduct transactions across these cabins. This could be advantageous given the currently high fees attached to some trades, especially NFTs, on the Ethereum network. Finding a faster and more cost-effective network on which to make a transaction is highly desirable to the millions of people interested in NFTs.
To encourage stability and reward those with a longer-term strategy, SSW also comes with a 3% buy fee and a 5% sell fee. The buy fee is distributed amongst existing holders, whereas the selling fee is paired with BNB and added as a liquidity pair on Pancakeswap. As has been proven with the likes of Solana and Shiba Inu, investing in a project early can yield the largest possible rewards. Seesaw Protocol is one of these opportunities.
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