Cryptocurrencies have done well in 2021. According to CoinGecko, the total market capitalization of all cryptocurrencies has jumped to more than $2.8 trillion. Most of these gains have happened due to the strong performance of the likes of Bitcoin and Ethereum. Still, beneath the surface, small-cap cryptocurrencies have done even better. So, here are the top 3 fast-growing cryptocurrencies for 2022.
Oasis Network (ROSE) is one of the fastest-growing cryptocurrencies in the world. It is an Ethereum-killer that is mostly focused on privacy. The network is mostly used in the building of decentralized finance (DeFi) products that are significantly scalable.
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Also, developers can use it to tokenize most assets like commodities and stocks. Oasis Network is a relatively fast protocol. It achieves this by having parallel workloads that separate consensus and execution. Oasis is backed by well-known venture capital firms like Sequoia, Accell, and Andreessen Horowitz among others.
The Oasis Network price has jumped by more than 100% since November and there is a likelihood that this growth will continue in 2022.
The concept of Web 3 has become relatively popular in 2021. Web 3 significantly changes how the web operates by removing power from a small number of key companies like Google and Amazon. It does this by using the concept of blockchain to decentralize key aspects of the industry.
While many people believe that Web3 is the future, some well-known figures like Elon Musk and Jack Dorsey believe it is a fad.
Secret Network is one of the fast-growing blockchain projects that is focused on Web 3. It describes itself as the first blockchain with data privacy by default. The network enables people to build projects that both permissionless and privacy-preserving.
Secret price has risen by more than 750% since July while its total market capitalization has risen to more than $900 million. This trend will likely continue.
Internet of Things (IoT) is a well-known and fast-growing industry. It is a technology that enables devices to communicate with each other and with humans. Already, millions of devices are doing that and the industry is expected to grow rapidly. Think of fast-growing technologies like autonomous cars. It is estimated that there will be more than 100 billion connected devices in 2030.
IoTeX (IOTX) is one of the biggest blockchain projects that focuses on the IoT industry. It enables developers to build projects that accelerate the industry. The IoTeX price has risen by more 780% since July and it is expected to keep rising.
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