May 02: Currently, there are thousands of cryptocurrencies available in the market, which has put many crypto investors in a dilemma. In general, cryptocurrencies with smaller market capitalization are more volatile than large and more established digital tokens like Bitcoin and Ethereum. With Russia-Ukraine War and China banning crypto, top cryptocurrencies including Bitcoin are in bearish mode. Therefore, many crypto investors are relying on the top most promising cryptocurrencies in order to gain higher returns. This article features the top 5 promising cryptocurrencies that you can buy in May 2022.
Here are the 5 Most Promising Cryptocurrencies of May 2022
Shiba Inu
After gaining popularity in 2021, Shiba Inu held the ground in 2022 as well. Last year, it briefly overtook Dogecoin, the native meme coin, and also entered the top 10 list. Crypto investors are keeping high hopes with Shiba Inu which makes it one of the most promising cryptocurrencies of March 2022.
Dogecoin
Dogecoin (DOGE) was originally created as a meme or parody cryptocurrency. Although Dogecoin was launched in 2013, its price skyrocketed only in 2021. Shiba Inu meme that went viral over the internet back at the time is the inspiration behind Dogecoin. Tesla CEO Elon Musk has weighed in on Dogecoin, which helped drive its surge in value and popularity before it fell back dramatically in the second half of the year. Now many crypto investors are betting on this cryptocurrency.
Tethereum (T99) ERC20
Tethereum (T99), which describes itself as more than a token swap and facilitates its users with the automated market maker, is a platform for Token Swapping and Automated Market Making. To understand AMM or Automated Market Maker, we need to understand market-making in cryptocurrencies and blockchain. Market making provides liquidity on a defined cryptocurrency by submitting the bid and asking for a crypto exchange’s limit orders. Tethereum’s (T99) short-term goal is to make itself the token swap platform with the lowest fee and provide the highest fee earnings to its liquidity providers.
Bitcoin INC (BINC) BEP20
BEP -20 The invention of Ethereum was revolutionary to the blockchain ecosystem as a whole, as for the first time ever people gained a way to launch their own tokens and smart contracts. For years, the Ethereum network was the default place for launching innovative blockchain -based projects. However, the increasing popularity of cryptocurrencies, and the advent of decentralized finance (DeFi) solutions specifically, has caused massive problems with the efficiency of the Ethereum blockchain. The transaction times and fees on the Ethereum network has become so high that many crypto enthusiasts stopped using ETH altogether, and blockchain developers started to look for a better alternative. That’s what led to the creation of Binance Smart Chain.
Binance Coin
Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services. The Binance coin is expected to boost the operation of the Binance exchange and its ecosystem. It supports multiple utilities such as trading fees, exchanges fees, listing fees, and any other fees on the Binance exchange.