6 altcoins to watch out for in 2022, says KOL Benjamin Cowen
6 altcoins to watch out for in 2022, says KOL Benjamin Cowen.
A prominent analyst just pointed out the top altcoin picks as the crypto market enters the new year.
First and foremost is the leading smart contract platform Ethereum (ETH).
“Of course there is ETH, but that’s the kind that is used as an altcoins index.
You want your altcoins to surpass ETH or at least approx. Look at their ETH value on a macro scale.
MATIC is a good project, I think the scaling solution for layer 2 is very important.
But also ADA, DOT, AVAX. “
ETH / USD. Source: Tradingview
The Polygon Multi-Chain Scaling Solution (MATIC) is strong in 2021, rising from $ 0.03 to a new all-time high of $ 2.88 last Saturday. The price has since corrected and is currently trading at $ 2.56.
MATIC / USDT. Source: Tradingview
Also high on Cowen’s list is the scalable, decentralized blockchain platform Cardano, whose native ADA token ranks 6th in terms of market capitalization. This altcoin has moved from $ 0.18 to a summer high of $ 2.91. Currently, ADA is valued at $ 1.36.
ADA / USDT. Source: Tradingview
Cross-Chain Interoperability Protocol Polkadot (DOT) rose from lows below $ 10 in January to highs above $ 47 in May and $ 54 in November, but has corrected sharply since then and is currently trading at $ 27.98.
DOT / USDT. Source: Tradingview
The last thing on Cowen’s favorites list is the Layer 1 smart contract platform Avalanche (AVAX). The AVAX token started trading for around $ 3.50 in 2021, but saw a series of epic rallies, eventually reaching an all-time high of $ 144.96 in late November.
AVAX / USDT. Source: Tradingview
On the flip side, the famous charting expert also likes the Solana (SOL) smart contract platform, which started the year under $ 2 and shot to nearly $ 260 in November, and this altcoin is valued at $ 175 at the time of writing.
“Solana, I think it’s pretty good, a little more focused than I wanted. But that’s not necessarily bad for some people because they like it better. “
SOL / USDT. Source: Tradingview
At the same time, Cowen remains interested in the Oracle network Chainlink (LINK) despite the disappointing figures for LINK / ETH.
“LINK is an interesting altcoin because it does really well during the bear market. I hold it and it has not lived up to my expectations in this market cycle. I want things to get better in 2022 because, to be honest, it’s down 90% over ETH in the last 18 months.
LINK started the year below $ 12, hitting an all-time high of $ 52.7 in May, before falling to $ 20.1 in July and finally to $ 13.88 before rising again in recent months.
LINK / USDT. Source: Tradingview
LINK had a tough month, hitting as high as $ 26.81 before falling to $ 17.61 and then back above $ 24 briefly. The token is trading for $ 20.28 at the time of writing.
In contrast, ETH has had a breakout year, climbing more than 400% from $ 730 to its current valuation of $ 3,740.
Last on the list is Ethereum’s competitor: Terra (LUNA). LUNA started the year at $ 0.64 and made great strides for the year. It is currently trading for $ 87.41.
LUNA / USDT. Source: Tradingview
“The most important projects that I am pursuing are ADA, DOT, AVAX, MATIC, LUNA, SOL. It’s really hard to go wrong just looking at the top 10 or 20. However, it’s also a good idea to look for Layer 1 tokens, some Layer 2 tokens, or Oracle tokens. I think that’s a great crypto portfolio right now. “
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews