All investors, even those who don’t examine the crypto market, have heard about Bitcoin. But if you are going to make real investments in this market, you should also explore some other options beyond BTC. These instruments are referred to as altcoins. Today, we will make a price prediction regarding the best altcoin for 2022.
The selection of altcoins to watch is quite wide. One of the reasons why many investors consider them is that many altcoins are up-and-coming projects. Some offer top-notch innovations to the sector and have more use cases than BTC. This increases their value and makes cheap altcoins very beneficial investments. So let’s explore the best altcoins to invest in for November.
The history of the Avalanche coin dates back to 2020. Like many altcoins created in that timeframe, AVAX runs on its native blockchain. The Avalance blockchain is based on the technology of smart contracts but some other solutions are supported here as well.
Avalanche is considered a top-level network when it comes to the speed of processing. It’s supposed to perform 4,500 transactions per second, which is much more efficient than many other ecosystems.
Avalanche allows you to earn from staking. Or you can hold coins and sell them when they increase in price. As of the beginning of November, AVAX is valued at $18.6, while its price record at $146.22 was recorded a year ago.
Monero is one of the most efficient projects in terms of security measures. It was started in 2014. Since then, XMR has been running on its native opaque platform. This category of networks stores anonymous data about transactions processed within the ecosystem. Even the transferred amounts are hidden.
A high level of security is a benefit for users. However, on the other hand, such advanced privacy safety solutions make the Monero blockchain a user-friendly ecosystem for money laundering activities. This has a negative impact on the XMR value.
As of the third of November 2022, XMR is worth around $149. The total market capitalization of the Monero project exceeds $2.7 billion.
Dogecoin has had one of the most stunning performances among all the cryptocurrencies on this list. In 2013, the founder of Dogecoin started a crypto project that was supposed to mock the hype around Bitcoin and other cryptocurrencies. But eventually, DOGE became a popular crypto asset itself.
DOGE is the first meme coin that is devoted to popular memes about Shiba Inu dogs. This coin doesn’t have a maximum possible supply, so many investors don’t consider it a real financial asset. Nevertheless, Dogecoin has a strong community and can bring lucrative returns as an investment product.
The price of DOGE has been boosted by extraordinary announcements and support from celebrities such as Elon Musk. As of today, you can buy it for around $0.13 per coin.
Tether (USDT) was started in 2017. It has such a ticker symbol because it’s a stablecoin tied to the U.S. dollar. This means that the reserve of the blockchain is pegged to the dollar price. When one coin is issued, $1 is added to the reserve. This approach helps to keep the USDT price at a stable level of $1.
The aim of Tether is to follow the U.S. dollar price all the time. Thus, its price won’t surge and bring you enormous returns in the future. Nevertheless, investing in Tether is a good idea if you want to save your holding. Tether isn’t as volatile as the majority of altcoins. Plus, this cryptocurrency allows you to make transactions faster and transfer them to fiat money without losing value during the processing.
The fact that USDT is a stablecoin doesn’t mean that this cryptocurrency will never fail. That’s why, even if you invest in stablecoins, you should realize all the risks of the crypto market.
Power Cash (PRCH)
When you invest in cryptocurrencies, you should be ready to lose that investment forever. That’s why many investors prefer to buy cheap altcoins in big quantities without facing the risk to lose too significant amounts. Power Cash suits such a strategy better than any other top altcoin in this list. As of the date of writing, PRCH cash is worth $0.00000001224. According to Coinbase, Power Cash is on the rise this week. In the past 7 days, its value grew by over 170%.
Solana was launched in 2020. This blockchain project has a lot in common with its predecessor — Ethereum. In particular, the Solana network is also suitable for developing and hosting decentralized applications.
However, Solana is more popular than many other cryptocurrencies that follow the same concept. This is because the network enables low transaction fees and high speed of processing — 65,000 operations per second. These two features, advanced proof-of-history consensus mechanism, and great scalability are the main reasons why Solana is called an “Ethereum-killer”.
As of 3 November 2022, SOL is worth $31.95. It’s the 10th biggest cryptocurrency by total market capitalization.
Ether is the second-biggest cryptocurrency and the biggest altcoin. It runs on the Ethereum blockchain that introduced the technology of smart contracts and became the first blockchain-based network where non-fungible tokens can be minted and stored.
The history of Ethereum date back to 2015. Since that time, its market capitalization increased up to $190 billion. One Ether token is worth $1,500. It isn’t one of the cheap altcoins but it’s definitely a sustainable investment that is expected to bring gains following the release of Ethereum 2.0.
FIL has ranked the 34th cryptocurrency in the rating of digital coins with the biggest market capitalization. Currently, Filecoin is on its bearish trend that started on August 1. As of 3 November 2022, FIL is worth $5.87.
What makes Filecoin unique is that it runs on an open, peer-to-peer network while still providing economic incentives and proofs to ensure files are being stored correctly. Thus, this investment is worth considering, especially now, after the recent announcement of the project’s new roadmap. This event is expected to trigger price growth in November. As a result, the FIL price can break out up to $11. This will happen if the coin manages to go above the resistance area of $6.50 this November.
This cryptocurrency was launched in October 2018. Its initial purpose is to serve as an internal payment method for the users of the Socios platform. Socios is a special marketplace where participants can have fun by purchasing different NFTs to support their sports favorites.
The CHZ coin is about to start its bullish rally. This might be the best time to invest your money in this project. The upwards trend has begun on October 13. Yet, the CHZ coin is worth $0.23. Consider that just a week ago it was valued a $0.20.
Quant was launched in June 2018. This network attracted crypto enthusiasts with its ability to enable scalable interoperability between any blockchain and any API / existing network. Alongside this, the Quant network doesn’t lose its own efficiency. These factors make us think that the QNT is one of the altcoins to watch in November 2022.
In the middle of October, the QNT coin broke out and reached a high price of $228. Since then, its price has been decreasing. Today, the Quant coin is worth around $160. The experts predict that in November the cryptocurrency will go on another upwards rally. According to technical analyses, this movement will stop at the point between $200 and $230. After that, a downtrend is expected. Thus, Quant might be not as a profitable long-term investment as all the other cryptos in this list.
Conclusion: what are the best altcoins to buy
These are the top altcoins that you should consider in November 2022. We recommend investing in sustainable and reliable projects such as Ethereum, Tether, and Solana. These are the cryptocurrencies that have proven themselves as potent crypto assets.