As the cryptocurrency market continues to see volatility in 2022, some themes are emerging. The first is for developers to seize the opportunity with both hands, building incredible utilities that have the potential to disrupt markets ranging from finance to event ticketing. Another issue is that blockchains are facing scaling and user needs challenges, which is causing headaches in some regions.
In the long term, the cryptocurrencies best equipped to deal with both opportunities and challenges will be the biggest winners. This is why I believe that Solana (SOL), Ethereum (ETH) and Switch Protocol (SSW) are the best cryptocurrencies to invest in right now.
Developers are flocking to the Solana blockchain, which supports smart contracts — and for good reason. Transactions on Solana are extremely inexpensive and only take a few seconds. This contrasts with Ethereum, the world’s largest smart contract blockchain, where transactions can cost $100 or more and take several minutes.
Low development costs allow developers to create disruptive products. Recently, Solana Pay was announced, allowing customers to pay merchants using Solana or a stablecoin like USDC – which is pegged to the US dollar – on the Solana blockchain. Fees are fractions of a penny, posing a threat to expensive financial networks such as Visa (NYSE:V) and Mastercard (NYSE:MA), which charge between 2% and 3% on each transaction.
Non-fungible tokens (NFTs) are also thriving on Solana, allowing developers to fund projects across everything from games to decentralized financial products.
We have no idea what the developers will be building on the Solana blockchain, but the possibilities are virtually limitless, given the low transaction costs and fast transaction speeds, which is reason to be optimistic about the future. Solana cryptocurrency today.
Ethereum (ETH) is the market leader, but it faces a tough year ahead. The big money in smart contracts is on Ethereum, where NFTs first gained traction, with companies like Opensea now processing billions of dollars in monthly NFT sales. However, Ethereum’s proof-of-work structure leads to high transaction costs and a relatively slow network, which will be a hindrance if not improved soon.
A series of upgrades aims to transition Ethereum to a more affordable proof-of-stake protocol, dubbed Ethereum 2.0. If all goes according to plan, it will reduce the cost of Ethereum and increase the speed of transactions, allowing it to compete more effectively with Solana. And, given the financial investment and momentum already behind Ethereum, being close in cost and speed may be enough to keep it at the top of the list of smart contract-enabled blockchains.
Switch Protocol (SSW)
Seesaw Protocol saw incredible gains in just the first 3 weeks of its presale, growing over 1000%, which means if you invested just $150 a week ago, you would now have $1500. However, this is only the first pre-sale stage and there are two more stages to come before launch, which means there is still time to get in and make some amazing wins. If SSW continues to grow at its current rate, it could reach 3000-4000% before its launch in April.
SSW Price according to https://seesawprotocol.io
Seesaw Protocol will act as a connector between multiple blockchains or ecosystems, allowing holders to send and receive value between them. By facilitating transactions between Binance (BNB), Polygon (MATIC) and the smart chain of Ethereum (ETH), SSW enables more affordable and faster transactions for holders by using the most efficient blockchain at the optimal time (depending on congestion) to find the fastest and cheapest transaction.
Due to the fact that holders are not allowed to sell during the presale, the price can only increase until launch.
In a year when cryptocurrencies are advancing at a breakneck pace, investing early can result in massive profits on a relatively small initial investment. In 2022, Seesaw Protocol, Solana and Ethereum have the best chance of exponential growth.
To learn more about the Seesaw protocol: