New cryptocurrencies 2022: 10 promising coins at a glance

With new technologies and innovative approaches, new cryptocurrencies are emerging to revolutionize the crypto world. Which cryptocurrencies have the greatest potential for long-term growth?

The year 2022 started with losses for the major cryptocurrencies like Bitcoin and Ethereum. Government regulations and a move away from the central banks’ low-interest policy put a damper on the euphoric mood of the crypto market. At the same time, the technical limitations of the first-generation blockchains are becoming increasingly clear - too slow, too expensive, too energy-intensive. New cryptocurrencies have emerged to solve these problems and bring blockchain applications to the mass market. On the eToro trading platform alone, users can trade more than 50 different coins. COMPUTER BILD presents ten new cryptocurrencies with potential that investors should keep an eye on in 2022.

Solana

Solana (with the currency abbreviation SOL) aims to solve the problem of inefficient transactions. The blockchain can already carry out 50,000 transactions per second. For comparison: In the Bitcoin blockchain there are just seven transactions. This predestines Solana for the use of decentralized applications (dApps) and digital contracts (smart contracts). dApps are programs with which, for example, business processes can be mapped in the blockchain. Investors clearly see great potential here.
2022 got off to a turbulent start for Solana. At times, the price fell below the 90 US dollar mark (equivalent to approx. 82 euros). The currency has been recovering slowly since March and is currently (early April 2022) again at just over 132 US dollars.

polka dots

Polkadot (DOT) is supposed to solve two problems of the older cryptocurrencies with new technology. That's why Polkadot relies on a technology that allows much faster and cheaper transactions.
In November 2021, Polkadot broke the $50 mark for the first time. By the end of February, however, the coin had fallen back to $16. Polkadot is recovering only slowly and is currently at almost 22 US dollars.

Cosmos

The new cryptocurrency Cosmos does not rely on a single blockchain but on an entire ecosystem of different blockchains that interact with each other. Like Polkadot (DOT), Cosmos (ATOM) wants to create an internet of blockchains that will enable exchanges between blockchains. A major problem with classic blockchains such as the Bitcoin blockchain is the process used to ensure the legitimacy of transactions. Bitcoin uses a proof-of-work process for this. Anyone who successfully generates a block on the blockchain has the right to verify a transaction. With the Proof-of-Stake (PoS) process, on the other hand, users receive a predetermined transaction fee. A PoS system is, therefore, more efficient and more scalable.

The new cryptocurrency Cosmos stands at just over 30 US dollars in April 2022, the market capitalization at 8.7 billion US dollars (21st place).

Near Protocol

Fast transactions, CO2 neutrality, and a user-friendly platform for the development of dApps with a close connection to the Defi area (Decentralized Finance): With the Near Protocol (NEAR) the makers are tackling many central challenges in scaling blockchain technology and More and more investors seem to be recognizing this: While almost all cryptocurrencies recorded heavy price losses at the beginning of the year, NEAR reached a temporary high of 20 US dollars at the end of January.

However, the new cryptocurrency was not completely spared from the general turbulence in the crypto market. NEAR is currently (beginning of April 2022) at just under 10 US dollars and is positioned 19th among cryptocurrencies with a market capitalization of almost 11 billion US dollars.

Terra
In contrast to the major cryptocurrencies, Terra (LUNA) also came through the difficult winter well. Terra wants to revolutionize the centrally organized banking sector with its blockchain and special stablecoins. From the point of view of the developers, a new cryptocurrency with a stable value and the possibility of low-cost transactions has so far been missing. In contrast to other stablecoins, the stability is not ensuhe real deposit in a fiat currency, but by a complex algorithm.

Terra is one of the clear winners among the new cryptocurrencies with potential. At the beginning of the year, the cryptocurrency was able to increase by almost 30 percent and is currently (April 2022) traded for almost 110 US dollars. With a market cap of $40 billion, Terra (LUNA) is currently the eighth-largest cryptocurrency by market cap.

ShiPolkadott
While many new cryptocurrencies with the potential aim to solve specific problems of the old blockchains, Shiba Inu is following in Dogecoin's footsteps. Dubbed the “meme coin,” the cryptocurrency rose to prominence in early 2021 when it staged an impressive price rally fueled by tweets from Tesla CEO Elon Musk. Like the Dogecoin, the Shiba Inu should also become a means of payment for leisure activities.
The Shiba Inuit is currently priced at just under $0.0000247. With a market capitalization of $13.6 billion, the new cryptocurrency takes 15th place.

Uniswap

Uniswap is a Defi solution. Defi stands for Decentralized Finance - a financial system that works independently of government or other regulatory bodies. Uniswap allows investors to exchange cryptocurrencies easily. In contrast to many other new cryptocurrencies, Uniswap has had a fixed purpose from the start and Uniswap is already successful today.

The Uniswap token (with the currency abbreviation: UNI) fulfills two functions. On the one hand, coins are used to incentivize investors to store their cryptocurrencies with Uniswap. On the other hand, the Uniswap Coin has a governance component. The developers of the platform have no decision-making authority over the further development of the project. Instead, anyone holding at least 1 Uniswap token is allowed to vote on further development. Only investors who hold at least 1 percent of the coins are allowed to make new suggestions for further development.

The Uniswap rate peaked at more than $40 in May 2021. Since then, however, the coin has suffered steady losses. The Uniswap (UNI) rate is currently (beginning of April) at 11.65 US dollars. With a market cap of $8 billion, Uniswap is the 24th largest cryptocurrency.

Polygon

Polygon (MATIC) is an Ethereum token. Polygon aims to make the use of so-called sidechains faster and cheaper.

Users deposit Ethereum tokens in a smart contract. They can then use the token as normal within the Polygon blockchain before it is routed back to the Ethereum blockchain. The MATIC token serves as a currency to pay transaction fees and as a governance token to further develop the project.

At the beginning of April, the price of the MATIC token was just under 1.60 US dollars. With a market capitalization of $12.7 billion, the token ranks 17th among the largest cryptocurrencies.

Filecoin

Filecoin (FIL) is a decentralized digital storage system. This means that, in contrast to cloud providers such as Dropbox, it does not need a central server. Instead, the data is stored in the blockchain. Users get paid when they make storage available. The costs determine supply and demand because each user sets their own prices.

With this approach, Filecoin differs significantly from other cryptocurrencies because there is already a functioning business model that serves a specific existing need on the market.

In 2021, the course will scratch the $180 mark. But Filecoin was not spared from the changing mood on the crypto market either. Filecoin (FIL) is currently at just under 25 US dollars.

Decentraland

In Decentraland, users buy virtual land and can interact with other users. Apps, in-game payments, and communication features will be added over time. Like Ethereum, the project is managed via smart contracts.

All users who hold at least one MANA token can vote on changes and participate in new auctions for land.

A MANA token is currently traded for just under 2.37 US dollars and, with a market capitalization of almost 4.4 billion US dollars, ranks 34th among the largest cryptocurrencies.
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