According to Benjamin Cowen, five altcoins will be able to significantly rise in price in the next 12 months
Crypto analyst Benjamin Cowen argues that several blockchain projects will show the greatest growth next year. According to the expert, Ethereum, Polygon, Cardano, Polkadot and Avalanche will be the most promising in 2022.
According to Cowan, Ethereum remains the leading smart contract platform. According to Defillama, on December 30, the total locked value (TVL) of assets in projects based on the Ethereum blockchain is $ 153.2 billion.
Ethereum (ETH)
In mid-December, the figure updated a high above $ 165 billion. The analyst called Ethereum an “altcoin index,” followed by many tokens.
On December 30, Ethereum is trading at $ 3.7 thousand. Over the week, the cryptocurrency has fallen in price by more than 7%, and its capitalization has dropped to $ 440 billion, according to CoinGecko.
Polygon (MATIC)
In 2021, the Polygon token grew by 13,387%, the analyst recalled. According to him, MATIC has not exhausted its growth potential and will be able to continue to rise in price next year.
On December 30, the cost of the Polygon token is $ 2.5. Over the week, altcoin fell in price by almost 1%, and its capitalization fell to $ 17.1 billion.
Polygon is an Ethereum-compatible second level sidechain powered by PoS (Proof-of-Stake) algorithm. This network is faster and with lower fees than the main Ethereum network.
Cardano (ADA)
Over the past 12 months, the Cardano token has risen in price by 596%. Cowen recalled that in September, the ADA renewed its all-time high above $ 3 (an increase of 1566% since the beginning of the year). According to the analyst, in 2022 the cryptocurrency will continue after a correction phase.
On December 30, Cardano is trading at $ 1.3. Over the week, altcoin has risen in price by 1%, and its capitalization has grown to $ 42.9 billion.
Cardano is a Proof-of-Stake (PoS) blockchain designed to develop smart contracts, as well as create full-fledged decentralized applications.
Polkadot (DOT)
The Polkadot token is in a correction after rising in November this year to a maximum of $ 54 (up 650% YTD), Cowen said.
According to his forecast, next year the DOT will come out of the correction and update the historical maximum.
On December 30, the Polkadot token is trading at $ 27.4. Over the week, the cryptocurrency has risen in price by almost 1%, and its capitalization has grown to $ 29.2 billion.
Polkadot is a system that connects different blockchains and allows them to interact. The main goal of the project is to create a unified financial space without borders within the framework of a multi blockchain.
Avalanche (AVAX)
In the current year, the value of the Avalanche token exceeded $ 144 (an increase of 4865% since the beginning of the year). According to the analyst, in the next 12 months, AVAX will continue to rise in price and update historical highs.
On December 30, the price of the Avalanche token is $ 103. Over the past seven days, the cryptocurrency has fallen in price by 11%, and its capitalization fell to $ 25.1 billion.
Avalanche is an open source platform for running decentralized applications (dApps) and enterprise blockchain deployment.
