The cryptocurrency market comprises more than thousands of coins. With the value of digital currencies changing so quickly, investing in some best-underrated cryptocurrencies may fetch large profits. TechTrends will provide you with some of the most undervalued cryptocurrencies to buy in 2022 as they are set to gain value.
There are thousands of distinctive cryptocurrencies in the market now. They all have assets trying to provide you with opportunities to invest and earn profits. However, you should note that investments in these currencies can be tricky. The reason behind that is picking one coin among lots of others requires careful consideration. In 2021, many digital currencies stayed on a roll. Therefore, enthusiasm for crypto has increased. Investors that plan to get into the crypto-verse may have some questions – whether to buy a large amount of one currency, purchase different types of currencies with their money, or join the movement of some particular currencies. Sometimes one of the perfect methods to gain large profits is to choose undervalued cryptos to invest in. Since not all of these assets are equally desirable, we will discuss some of the most undervalued cryptocurrencies to buy in 2022.
Most Undervalued Cryptocurrencies to Buy in 2022
The Crypto world is developing dynamically, and before investing in digital currency, there is a lot that you need to understand. In trading, one of the most severe concerns is market transformations. Therefore, try to make a mindful decision rather than an ignorant one. When taking risks and not just chances, the returns can turn out to be excellent. Through observing the crypto market closely, we outlined the top undervalued cryptocurrencies to buy this year that are likely to explode. They are as follows:
- Avalanche (AVAX)
- Terra (LUNA)
- The Sandbox (SAND)
- Polkadot (DOT)
- Cardano (ADA)
- XRP
- Basic Attention Token (BAT)
- Enjin (ENJ)
- Synthetix (SNX)
- Chainlink (LINK)
Avalanche (AVAX)
This open-source programmable smart contract platform called Avalanche is used for decentralized applications in the blockchain industry. The native cryptocurrency of this platform is AVAX. Moreover, it is the most undervalued cryptocurrency to buy in 2022. It is pretty fast, affordable and eco-friendly. It can build a quick, inexpensive, robust-compatible dapp. In addition, Avalanche can see transactions instantly and is competing with Ethereum, aiming to go above Ethereum as the most popular blockchain for smart contracts. It plans to accomplish that goal by processing thousands of transactions every second (up to 6.500) without compromising scalability. This platform can provide help in adopting private and public custom blockchains. You can create your own virtual machine and deploy a blockchain that is specifically how you want it to work.
To handle transactions and protect your platform, use AVAX. The price is showing for itself as it has grown 10X over the past four months, and it could potentially continue to go up. It is ranking number 11, trading at $81.31 and a market capitalization of over $19 billion.
Avalanche provides several solutions, some of which are:
- Decentralized finance (defi): DeFi is immensely developing across chain boundaries. This platform is completely compatible with Ethereum assets.
- Institutions, businesses, and the government can look at avalanche as the best reviewable platform.
- You can have your own digital collection that is such a low price. In addition, it has proof of ownership and optimization of the value. You can create and share art and collectibles – all the benefits and no drawbacks.
Read more: Best Web 3.0 Cryptocurrencies to Invest in 2022
Terra (LUNA)
Another one on the list of most undervalued cryptocurrencies to buy in 2022 is Terra (LUNA). It is an open-source blockchain protocol that utilizes fiat-pegged stablecoins to underpin a thriving ecosystem that brings DeFi to the masses. If you haven’t heard of this, you have to get your head out of the sand as it ranks number 10. At the time of the writing, it is trading at $63.75, with a market capitalization of more than $22 billion. When you look at the chart, it is clear that Terra is steaming ahead.
Terra first started to develop back in 2018, with its mainnet launching in 2019. In 2021, it provided stablecoins pegged to the U.S dollar, South Korea’s won, and intends to extend its options. The native cryptocurrency of Terra is LUNA, which also allows holders to vote on governance proposals, meaning they have the functionality of a governance token.
This cryptocurrency aims to set itself apart from others by using fiat-pegged stablecoins, combining the borderless benefit of cryptos with fiat currencies’ day-to-day price stability.
Polygon (MATIC)
The next most undervalued crypto right now is Polygon (MATIC), which is formerly known as Matic Network. Polygon is an interoperability and scaling framework to create Ethereum-compatible blockchains. It plans to meet some of the main limitations that Ethereum has, like throughput, weak user experience (fast speed and delayed transactions), as well as lack of community governance by utilizing a novel sidechain solution.
As a strategic way, some prominent Ethereum developers and influencers like Hudson Jameson, Ryan Sean Adams, Anthony Sassano, and John Lyric have taken part in the project as advisors.
In the Polygon ecosystem, the native currency MATIC can be used for a number of purposes. To begin with, it can be used in voting on Polygon Improvement Proposals (PIPs) to take part in network governance. In addition, it can be used for contributing to security through staking and paying gas fees.
At the time of writing, Polygon is trading at $1.92, with a market capitalization of more than $13 billion. It currently ranks 15.
Read more: Best Crypto Traders to Follow in 2022
The Sandbox (SAND)
The Sandbox, managed on the blockchain, is a play-to-earn digital world that permits its users to build, buy, sell and monetize digital assets through a game. It was launched in 2011 by Pixowl. Moreover, it combines the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs) to create a gaming community. This platform’s primary mission is to introduce blockchain technology in gaming successfully. The Sandbox’s native utility token is SAND, which can be used for transactions on the platform.
The Sandbox is trading at $4.53 and ranks 38. Its market capitalization is $4 billion.
Polkadot (DOT)
Polkadot has also made it to the list of the most undervalued cryptocurrencies to buy in 2022. The Web 3.0 Foundation established this open-source project called Polkadot. It empowers moves of not only tokens across the blockchain but also information or resource. One of the main features of this cryptocurrency is that it ensures scalability. Furthermore, in terms of low fee charges and fast speeds, Polkadot ranks higher than Ethereum.
DOT is the native token of Polkadot, and it has three primary purposes: facilitating network governance, staking for operations and security, and bonding tokens to connect parachains.
Polkadot is currently trading at $23.52, ranking 9, with a market capitalization of more than $23 billion.
Cardano (ADA)
Cardano is also one of the most undervalued cryptocurrencies to buy in 2022. This proof-of-stake blockchain platform is trying to provide changemakers, innovators, and visionaries with a chance to bring about positive global change. The primary purpose of this open-source project is to “redistribute power from unaccountable structures to the margins to individuals.” In other words, it wants to build a more secure, transparent, and fair society. The native token is called ADA, which is designed to make sure owners can take part in the network’s operation. Due to this reason, the cryptocurrency holders are permitted to vote on any proposals for software changes.
Despite the popularity of the project, ADA is trading at a very low price ($1.14). It ranks 7, with a market capitalization of $38 billion.
XRP
Another most undervalued crypto right now is XRP. First and foremost, it is essential to know the difference between XRP, Ripple, and RippleNet. XRP is a cryptocurrency that runs on a digital payment platform named RippleNet. On top of a distributed ledger database known as XRP Ledger, there is RippleNet. Whereas a company called Ripple runs RippleNet, the XRP Ledger is open-source and is not recorded on a blockchain but instead on the distributed ledger database. Although the native crypto to the XRP Ledger is XRP, the use of any other currency to transact is allowed on the platform.
Ryan Fugger initially voiced the idea behind the project in 2004. However, in 2012, when Jed McCaleb and Chris Larson took over, Ripple started to be built.
XRP is currently trading at $0.728726 and ranking 8, with a market cap of more than $34.
Basic Attention Token (BAT)
Basic Attention Token is yet another one of the most undervalued cryptocurrencies to buy in 2022. It is a digital advertising platform based on blockchain that aims to reward users for their attention while giving advertisers a greater return on the money they spent on their ads. People consider BAT as a unit of reward in this ecosystem. In addition, advertisers, publishers, and users exchange this native cryptocurrency between themselves. It works because advertisers pay for their ads in BAT currencies, and the budget they spend is distributed to advertisers (30%), while the other 70% will go to users.
Since November 2020, the United States, the United Kingdom, and Canada have been the most active advertising campaigns.
BAT is trading at $1.00, ranking 71, with a market capitalization of almost $1.5 billion.
Enjin (ENJ)
Enjin is one of the most underrated cryptocurrencies. It is a company that provides an ecosystem of interconnected, blockchain-based gaming products. It aims to ensure true ownership when it comes to in-game digital assets that they spent time and money to accumulate. These social gaming platforms allow users to create websites and clans, chat and host digital item stores.
ENJ allows users to earn and gain profit from their virtual items and characters in the game or re-use them in other games.
Enjin is trading at $2.20, ranking 65, with a market capitalization of almost $2 billion.
Synthetix (SNX)
Looking at the most undervalued cryptocurrencies to buy in 2022, Synthetic appears on the list. It is a decentralized finance (DeFi) protocol that represents on-chain exposure to different types of crypto and non-crypto assets. Synthetic Network Tokens support synths put in a smart contract as collateral. It is managed on the Ethereum blockchain and allows users to have access to highly liquid synthetic assets (synths). Then users will receive returns on the underlying asset, with no need for one to hold the asset directly.
The Synthetix platform will give its users SNX as a reward, and if this model is executed perfectly, it will encourage the participants to be stakeholders.
The market capitalization of SNX is $574 million, and it ranks 124. It is currently trading at $5.01.
Chainlink (LINK)
Chainlink was founded in 2017, and it is a blockchain abstraction layer that allows smart contracts to connect universally. With the help of a decentralized oracle network, Chainlink provides blockchains with a chance to have secure interaction with external data feeds, events, and payment methods.
A big open-source community drives the Chainlink Network, including providers, node operators, smart contract developers, security auditors, and researchers.
LINK is trading at $25.11 at the time of writing, ranking 16, with a market capitalization of $11 billion. It is also among the most undervalued cryptocurrencies to buy in 2022.
Final Thoughts
As mentioned in the article of the most undervalued cryptocurrencies to buy in 2022, there are a number of cryptos you can consider investing in. These currencies are low-cost, and they could explode in 2022. We should acknowledge that cryptos are volatile, and the market trends cannot be foreseen. Thus, it is wiser to research before investing. You should also note that seeing crypto fail is not that unusual.
Sometimes, it is difficult to tell the difference between underrated cryptos and those who never had a chance to succeed. However, with the cryptocurrency growing exponentially and gaining a lot of attention and seekers, it is mainstreaming clients’ attention. And either way, it is highly likely that many of these cryptocurrencies mentioned in this article are nowhere near the valuation they may reach.