Bitcoin, Ethereum, Dogecoin, Shiba Inu, Matic- Which Crypto Will Gain Most This Year?
by Analytics Insight
January 7, 2022
Bitcoin (BTC) prices have fallen to their lowest level in months following the US Federal Reserve remarks. Bitcoin dropped in value from $48,000 (£42264) earlier this week to less than $41,916. On Binance and Coinbase, each Bitcoin token is trading at around $41,900, making it one of Bitcoin’s lowest values in recent times. It follows minutes from a meeting of the Federal Reserve, which suggested it may raise interest rates.
Ethereum (ETH) price dropped below $3,201 as bears took over the altcoin. Recently Ethereum has seen a surge in developers building on its blockchain that offers Ethereum a solid foundation to drive adoption and utility. However, there is a spike in competition from Ethereum-killers like Solana with their rising active users and on-chain activity.
EverGrow (EGC) launched at the end of September 2021. EverGrow is seen as the coin that revolutionized rewards. EverGrow is the first major project to offer BUSD rewards – a regulated stable-currency, pegged 1-1 with the USD. It allows EGC holders to earn a viable passive income in a currency that doesn’t suffer fluctuation. EverGrow launched right into the bear market and was up over 100% this week after dropping 30% in the recent crypto crash yesterday. EGC smart contracts have already distributed over $31 million of stable, spendable rewards. EverGrow is on the cusp of launching a suite of utilities like NFT lending ecosystem, Content subscription platform, Play-to-earn games that, if executed well, could propel this young project to the heights of crypto royalty.
Dogecoin and Shiba Inu, the top meme currencies which saw a meteoric rise in 2021, have been hit harder than sector originals Bitcoin or Ethereum during the recent crash. Dogecoin (DOGE) was trading at $0.1554, which is nearly an 85% drop from its all-time high in May. Dogecoin Foundation has unveiled a trail map detailing the 2022 project plan to make DOGE a universal coin by focusing on payments that will enhance its utility. Dogecoin foundation gives examples of paying rent and buying coffee. So, It will be interesting to see what is in store for dogecoin in 2022?
Shiba Inu (SHIBA), the crypto, also touted as Dogecoin-killer, has declined more than 70% since hitting its peak. Shiba Inu was trading at $0.00002927 with a volume of over $1.2B over the past 24 hours. The CEO of the world’s largest movie exhibition company, AMC Theaters, recently announced on Twitter that AMC is on track to accept Shiba Inu within the first quarter of this year. Shiba Inu founder Ryoshi also revealed their plan to develop Shiba Inu’s layer 1 ethereum scaling solution Shibarium. There are over 1.1 Million Shiba Inu holders worldwide, and we expect Shiba Inu to gain even more traction in the coming days.
Polygon’s MATIC price has dropped 3% on January 7. Matic, which rebranded itself to Polygon in 2021, was trading at $2.13. Matic has recently seen a surge in Dapps, play-to-earn games joining its ecosystem, which recently resulted in a sudden surge in transactions happening on its blockchain. A popular new blockchain game is congesting Polygon, after Polygon’s proof-of-stake chain active addresses have spiked 60% in a single week, sending gas prices soaring. A transaction on Polygon now costs roughly $0.50, up from fractions of a cent. According to coinmarketcap.com, The total Matic in circulation currently sits at 7.16B.
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