2022 Altcoin Predictions: Top Trader Ben Armstrong Unveils Top 5 Explosive Altcoins For 2022
Prominent trader Ben Armstrong unveils with his 1.14 million subscribers top 5 altcoins with massive potential to explode in 2022.
“These are the assets with real-world use cases that don’t go away just because the bulls have fled. Projects like these all have use cases that will keep the heat on for these projects.”
First on Armstrong’s radar is Theta (THETA). Theta is a project that has everyday utility. According to the trader, THETA is the governance token of the Theta blockchain supported by thousands of community-run Guardian nodes and its Enterprise validators including Google, Binance, Blockchain ventures, Gumi and Samsung. Meanwhile, TFUEL is the second token on the Theta blockchain that serves as the utility token in decentralized video and data delivery, it also acts as a gas token.
Launched in 2017, Theta is a decentralized streaming platform. There are other competitors like BitTorrent and BitTube but none have the level of development that Theta has.
“Theta isn’t just video streaming. It’s going for the hottest segment in content delivery: live streaming,”
According to the analyst, staking THETA and TFUEL in Guardian nodes and earning rewards is the other less well-known reason that the price of THETA performs so well between January and May of this year and even had a few price surges into June.
“Staking THETA generates a decent APY and with the newly introduced TFUEL staking, well that means that TFUEL gained from THETA staking can also be staked itself.”
Chainlink (LINK) is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. Smart contracts are pre-specified agreements on the blockchain that evaluate information and automatically execute when certain conditions are met. LINK tokens are the digital asset token used to pay for services on the network.
“Chainlink is another project that is sure to maintain traction in 2022 because it’s just so connected with a lot of big projects.”
The Chainlink platform is able to connect cryptocurrencies and the banking segment. With Chainlink’s help, it is now possible to use smart contracts in the traditional financial system. From a technical point of view, Chainlink presents software using an API for cryptocurrency contracts. Chainlink is useful in fields outside finance, such as: gaming, Non-fungible tokens or NFTs, utilities, insurance, and supply chain.
Celsius (CEL) is an all-in-one banking and financial services platform for cryptocurrency users.
Launched in June 2018, it offers rewards for depositing cryptocurrency, along with services such as loans and wallet-style payments. Users of the platform receive regular payouts and interest on their holdings. Celsius’ native token, CEL, performs a variety of internal functions, including boosting user payouts if used as the payment currency.
Further, Celsius implements a loyalty program where status is reflective of CELs value in the user’s portfolio. As a member progresses to each subsequent tier, they are given bonus rewards and discounts on loan interest.
“As a token built on the Ethereum blockchain, CEL is also transferable for other such tokens like ETH and DAI. Furthermore, CEL can be transferred to other users within the Celsius network without transaction fees through its payment service CelPay.”
The fourth coin on the trader’s list is Enjin (ENJ). Enjin is software that gives developers the ability to create and manage virtual goods on the Ethereum blockchain.
“The idea is that by using blockchain technology to manage in-game items across many different properties, Enjin can help reduce the high fees and fraud that have plagued the transfer of virtual in-game goods and collectibles.”
Central to managing the digital assets on its platform is ENJ, Enjin’s cryptocurrency, and each in-game item created on Enjin is assigned a value in ENJ.
The last altcoin of 2022 on the list is Elrond (EGLD). Elrond is a software that seeks to incentivize a distributed network of computers to run a smart contract platform that aims to prioritize scalability and low transaction fees.
Elrond employs two unique features: Adaptive State Sharding – The process of splitting the Elrond infrastructure to support more transactions and programs; Secure Proof-of-Stake (SPoS) – The consensus mechanism devised to sync separate network components to a common ledger.
Elrond is powered by its native cryptocurrency, EGLD coin, which is used to interact with applications, send transactions, and incentivize actors supporting the network.
According to Armstrong, The Elrond network offers many features common to other cryptocurrency networks, like smart contracts, transaction settlement, and token issuance. Developers can use programming languages (such as Rust, C, and C++) to run custom programming logic (smart contracts) and design new programs (decentralized applications) to offer a variety of products and services.
Unique to Elrond is its design variations of sharding and proof-of-stake, helping process roughly 12,500 transactions per second.
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