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According to various reports, around 15 million Indian retail investors have invested in digital tokens with an investment of around $6.6 billion. About 90 percent of domestic private investors were added in the current calendar year.
Most Profitable Cryptocurrency To Invest 2021
“Despite uncertainties surrounding India’s industry regulatory framework, digital asset adoption is growing at almost double the rate of the internet,” said Vikas Ahuja, CEO of CrossTower India.
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New Delhi: The cryptocurrency market exploded in 2021, with a $30 billion investment in the digital token universe, and the total market capitalization of this asset class in just a decade reached $3 trillion during year.
Industry experts say that India has enormous potential to become a world leader in this technology. Small towns have been pioneers in adopting these digital resources.
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According to the Chainalysis report of October 2021, India ranked second in digital adoption. The report ranked India 11th out of 154 countries for cryptocurrency adoption.
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Mudrex CEO and co-founder Edul Patel said that this year has been a real roller coaster for cryptocurrency investors. “Memecoins and metaverse were the hottest buzzwords of the year in the cryptocurrency market,” he said.
How did Cryptos do this year? Bitcoin, the largest cryptocurrency by market value, has been range bound for a good amount of time this year. The London Hard Fork upgrade to the Ethereum network brought great news.
According to Mudrex data, Gala (GALA) topped the list with a return of about 51,000 percent. Axie Infinity (AXS) is up 19,000% while Sandbox (SAND) is up 15,000%. Polygon (MATIC), Terra (LUNA), Solana (SOL), Fantom (FTM), Kadena (KDA), Harmony (ONE) and Decentraland (MANA) rose between 5,000 and 13,000 percent in 2021, according to the data.
“Based on our data, Terra (LUNA) performed the best, giving investors a return of around 15,000 percent,” Ahuja said. “Despite Bitcoin’s 69% Rise, Digital Number One Was Among the Laggards.”
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Other tokens that have rewarded investors handsomely included Binance Coin (BNB), Solana (SOL), and Polygon (MATIC), which have seen annualized returns of 1,000 to 13,000 percent, he added.
Tokens with smaller market caps but better fundamentals would be the best options going forward, Patel suggested. Investors should keep an eye on Hedera (HBAR), Algorand (ALGO), Harmony (ONE), Fantom (FTM), Sandbox (SAND), Pancake Swap (CAKE), Render Token (RNDR), Polygon (MATIC) and Decentraland ( MANA in 2022, he added.
Experts said that meme coins, central bank digital currency, and non-fungible tokens (NFTs) were the top three trends in 2021. 2021 also saw a large number of initial coin offerings or ICOs.
Several factors have led to a massive euphoria in cryptocurrencies. Central bank digital currencies and China’s crackdown created fear, uncertainty and doubt among investors, Patel said.
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“Avid crypto enthusiast and Tesla boss Elon Musk remained a big name in the crypto space while Facebook rebranded itself as Meta to create a metaverse. Celebrities joined the NFT bandwagon,” he said. .
Digital IDs have been unchallenged and are already revolutionizing many traditional services and industries around the world. Markets like NFTs, Web 3.0, and Decentralized Finance (DeFi) have played a key role in its growth and adoption.
The Indian government is creating a legal framework for the digital asset class that will set global standards and recognize the value of these assets, said Ahuja of CrossTowers India. “We believe this is a positive approach because cryptocurrency is an emerging asset due to its immateriality and the fact that it uses highly sophisticated cryptography to secure and verify transactions.”
Cryptocurrencies have a mix of excitement, innovation, growth, anxiety, curiosity, and huge profits, but investors should beware. Experts said that one needs to learn the technologies in which one is investing and firmly support the underlying logic.
Best Cryptocurrencies To Invest In 2022
Apart from India, several countries are trying to introduce regulations that could see the cryptocurrency market mature in the coming years.
“Regulatory guidance would make it more comfortable for investors to invest their money and more comfortable for companies to start businesses that revolve around crypto and blockchain,” Mudrex’s Patel said.
Everyone wants to ride the cryptocurrency wave, but the fear of missing out on the rally can be devastating for investors. Crypto is a new but innovative technology, but only one part of the larger financial boost that blockchain provides to financial operations.
“We have successfully established a foothold in the Indian market with growth of over 3,000 percent in the last quarter,” Ahuja added. “We see awareness and willingness from institutional and private investors for digital assets.
The Best Cryptocurrency To Invest In 2022 For Short Term
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To read the full story, subscribe to ET PrimeLog in to read the full article You received this Prime Story as a free gift The rise of cryptocurrency has been one of the most exciting and talked about events in modern finance. Love them or hate them, you can’t deny that cryptocurrency has brought new conversations to the financial world.
Some currencies, like Bitcoin, seem to rise in value fairly steadily every year. However, other coins like DogeCoin seem to dominate the conversation for about a month before losing popularity.
Best Cryptocurrency 2022: 5 Best New Cryptocurrencies To Buy In 2022
Because of this, it can be difficult to predict what might be the best cryptocurrency to invest in in 2022. But get it right and you’ll be rewarded big time.
After all, the world’s largest cryptocurrency (Bitcoin) was created in 2009 and has already increased in value by more than 19,000%. This puts it ahead of almost all the best-performing assets in history.
This makes Bitcoin more valuable than all but a few of the largest companies in the world. Because of this, it can be easy to feel like the opportunity to invest in cryptocurrency has been missed. However, this couldn’t be further from the truth.
The first cryptocurrency was created only 13 years ago, and cryptocurrencies are still far from widespread adoption. So far, only one of the world’s governments has announced that it accepts Bitcoin as legal tender.
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If anything, the current cryptocurrency landscape resembles the early days of the internet. Just as many investors wanted to get into Internet companies in the early to mid 2000s, many investors want to get into cryptocurrency.
Disclaimer: As with all investing posts, this is our own opinion, not financial advice! Always do your own research (DYOR) before making an investment decision.
Cryptocurrencies are a new form of decentralized digital money. By decentralized I mean that there is no bank or government that controls cryptocurrencies. Instead, the tasks related to its maintenance are shared among users.
Cryptocurrencies have some other features that we will discuss when we talk about the first coin to invest in.
What Experts Say About Cryptocurrency, Bitcoin Concerns
Before jumping into the best cryptocurrency investment (2022), there are two important things to consider:
Bitcoin is the most popular cryptocurrency in the world and currently the largest currency by market value. Market value is a way of valuing coins and is calculated by multiplying the total number of coins by the value of each coin. In the last 5 years, the price of Bitcoin has increased by 8,700%. So far in 2021, the price of Bitcoin has increased by 115%.
First, the creator of Bitcoin is completely anonymous. Although he sometimes uses the pen name Satoshi Nakamoto, this person (or persons) is completely unknown.
While this may sound a bit iffy or iffy, it is actually a good thing for Bitcoin. By nature, cryptocurrencies are supposed to be decentralized.
These Cryptocurrencies Are Best For Long Term Investment
The fact that the creator of Bitcoin does not have an active role in its adoption is a
Another reason why Bitcoin is so popular with investors is that the total supply of Bitcoin is limited to 21 million.
This means that the value of existing Bitcoins can never be devalued by creating new Bitcoins. This process often occurs with traditional currencies and is called inflation. Yeah, I’m sure you’ve heard of that little money leak. When an investor buys Bitcoins, he can trust that this asset will never be created again.
Finally, Bitcoin is by far the most accepted cryptocurrency. Although its price remains volatile, this makes it a
Best Cryptocurrencies In 2023 For Investing • Benzinga Crypto
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