The market might be down, but you would be mistaken to think there are no opportunities available to make a profit. Even during extended bear markets, there are always pockets of the industry that see growth.
The only problem is finding these little pockets to put your money in.Well, we’ve done some digging and found the hottest cryptocurrencies for you. These tokens are expected to continue to trend through 2022 and further into the year.
The Hottest Cryptocurrencies Right Now
- My Freedom Coin – An all-in-one DeFi platform that minimizes negative volatility.
- Solana – A high throughput network that released the first blockchain smartphone.
- ApeCoin – The coin behind the hottest trending NFT collection.
- Stepn – A move-to-earn lifestyle app that pays people to exercise.
- Uniswap – A decentralized exchange service that is about to introduce NFTs.
A Closer Look at the Top Trending Tokens in 2022
1. My Freedom Coin
My Freedom Coin is one of the hottest cryptocurrencies right now due to its unique crashproof economic model.
The project is an all-in-one DeFi platform that consists of an exchange, a wallet, and a bank. Users can buy MFC tokens, store them in the wallet, and take out stablecoin loans from the treasury through the platform.
The system has a “Floor Price,” which prevents the token’s price from slipping beneath that value. The Floor Price is maintained by all of the assets in the BUSD Treasury, which is filled up through consecutive higher token offerings until all 7 billion tokens are released.
The assets inside the BUSD Treasury will always be available to buy every MFC token in circulation at the current Floor Price, regardless of the overall market condition.
The floor price can be calculated using the following formula;
The great thing about My Freedom Coin is that all platform usage contributes directly to the constant evaluation of the coin. Actions on the platform are charged fees in MFC, which are removed from circulation, helping the Floor Price to rise.
A 0.5% MFC fee is removed from circulation each time users send a P2P MFC transaction on the network. In addition, every time a trade is made on the My Freedom Exchange, there is a 2% fee. The fee charged to the buyer is in MFC, which is automatically removed from circulation.
Users must pay a Trading License fee to access the My Freedom Exchange. Currently, the fee is set at $0 and will increase by $5 for every new 10,000 users until it reaches $50 at 100,000 users.
Furthermore, users can deposit MFC as collateral to take out stablecoin loans from the BUSD Treasury. The loan is charged a 0.98% monthly interest rate in MFC, which is removed from circulation.
Taking things further, there is absolutely zero chance that your loan will ever be liquidated. The loan is priced at the current Floor Price, and because the price of MFC will never sink beneath that value, there will never be a situation where your collateral is at risk. This is a unique feature of MFC that no other DeFi platform can offer.
All of these factors, alongside the consecutive higher token offerings, create an economic model where the price has an absolute floor level that it will never sink beneath – making it the only crashproof asset in existence.
To learn more about MFC, visit their Twitter and join the conversation on Discord.
My Freedom Coin is available on both iOS and Android. It is an invite-only community, but you can use the following QR code to gain access;
CODE: ABXNMMXPHN
Overall, with the broader market tanking, it is no surprise that MFC is starting to trend as it protects holders against negative market volatility.
2. Solana
Launched in 2017, Solana was created to scale for global adoption. It is a proof-of-stake blockchain that boasts some of the highest throughputs in the industry. For example, Bitcoin can handle seven transactions per second (TPS), and Ethereum is capable of twenty-one TPS. In comparison, Solana has a theoretical max throughput of 65,000 TPS.
Solana is one of the hottest cryptocurrencies right now after Solana Labs revealed a new blockchain-powered Android smartphone called Saga and a mobile platform called Solana Mobile Stack.
The smartphone is a powerful device that boasts a 6.67” OLED display and is made of stainless steel and titanium. As it is a blockchain-powered phone, the team included something they called “Secure Element” for private key management on the device.
The Solana Mobile Stack provides tools for developing native Android apps, games, and dApps.
Solana designed the device and the software kit to help make Web3 more accessible to a broader audience. In addition, the team intends to make a Web3-facing app store to remove friction for developers wanting to create in the Web3 world.
Overall, after the launch of the industry’s first blockchain-powered smartphone, Solana is undoubtedly one of the hottest cryptocurrencies trending right now.
3. ApeCoin
Just launched in March 2022, ApeCoin has quickly grown to become one of the top trending tokens in 2022 and one of the top-ranked cryptocurrencies by market cap.
ApeCoin is the cryptocurrency behind the Bored Ape Yach Club (BAYC) NFT collection, one of the hottest and most expensive NFT collections to launch.
The NFT collection was so hot that it was the top searched NFT by Google Search Trend data and gained the attention of A-list celebrities. Some famous stars that own a BAYC NFT are Mark Cuban, Shaquille O’Neal, Jimmy Fallon, Neymar Jr, and Serena Williams.
ApeCoin started to trend in July after Eminem and Snoop Dogg released a collaboration video that featured both rap superstars turning into their BAYC NFTs. ApeCoin surged almost 30% following the video’s release, which accumulated over 10 million views on YouTube in the first few days.
The fact that BAYC has gathered so much attention from celebrities means that ApeCoin has a colossal reach compared to the rest of the industry. Therefore, any collaboration with these celebrities will likely continue to see ApeCoin continuing to trend throughout the year.
4. Stepn
Stepn is a move-to-earn NFT lifestyle app that launched in December 2021. The central premise behind the project is for users to earn crypto from accumulating points after completing steps in real life.
Built on the Solana blockchain, players must first buy an NFT sneaker to access the platform.
The rewards for completing the daily steps are in Green Satoshi Token (GST), the platform’s native token. In addition, the Sneaker NFT can be upgraded to boost the amount of GST earned per session.
The Stepn app allows users to earn money by walking, jogging, or running for a set amount of time each day – depending on how much “Energy” the sneaker NFT has.
A player starts with just two units of Energy, which are replenished every 24 hours. Each Energy unit provides 5 minutes of “stepping time”. To gain more Energy, players must purchase more NFTs or upgrade their current ones.
Stepn launched in August 2021 and has already attracted over 800,000 daily active users. It’s starting to trend in 2022 as users wait for the release of the new Achievement and Quest Systems to provide new missions to complete in the game. Additionally, all Stepn users have a marathon to look forward to in October 2022.
5. Uniswap
Uniswap is an Ethereum-based decentralized exchange that allows users to swap ERC-20 tokens easily.
Launched in 2018, Uniswap changed the way traders invested in cryptocurrencies by providing a method of exchange outside centralized entities.
Uniswap isn’t a DEX that connects buyers to sellers. Instead, it is an Automated Market Maker that uses an algorithm to price tokens.
Liquidity providers create pools and deposit an equal amount of their desired token alongside Ethereum. Then, when traders swap on the platform, it occurs through the 50/50 split of Ethereum and the other token in the pool, causing it to rebalance after the trade with a new price.
Uniswap started to trend in July 2022 after the project announced the acquisition of Genie, an NFT marketplace aggregator.
The new platform allows users to trade NFTs across most blockchains and will be integrated directly into Uniswap. The announcement caused the project to trend as holders started to become excited about the prospect of being airdropped NFTs.
Conclusion
Even when the market is down, there are always hot cryptocurrencies that continue to trend. The coins on this list are the best options to keep your eyes on in 2022 as they continue to build excitement for their user base, making the project trend. While few cryptocurrencies like My Freedom Coin come with a unique economic model, protocol tokens like Solana and the utility of Uniswap combined with the popularity of ApeCoin and Stepn puts each in a league of their own.
Disclaimer: The contents of this article is intended for informational purposes only and don’t, in any way recommend investments in any particular crypto asset. Please conduct your own research and due diligence before investing in any crypto asset.
Source: https://bitcoinist.com/hot-cryptocurrencies-right-now-trending-tokens-in-2022/