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Top 10 undervalued cryptocurrencies in 2022

Top 10 undervalued cryptocurrencies in 2022 WikiBit 2022-08-06 22:59

Many cryptocurrencies have generated large profits for investors who recognized their potential and purchased them when they were inexpensive. However, many investors have lost money by investing in overpriced coins. Finding undervalued assets is difficult, particularly when it comes to cryptocurrencies. In this article, we'll look at some of the most undervalued cryptocurrencies with high upside potential.

Many cryptocurrencies have generated large profits for investors who recognized their potential and purchased them when they were inexpensive. However, many investors have lost money by investing in overpriced coins. Finding undervalued assets is difficult, particularly when it comes to cryptocurrencies. In this article, we'll look at some of the most undervalued cryptocurrencies with high upside potential.

The most popular cryptocurrencies in 2022

Investing in the most popular cryptocurrencies no longer provides truly exceptional returns. Popular cryptocurrencies are no longer generally undervalued, at least in the short term, but they may still be undervalued in the long run. So, if you want to find truly undervalued cryptocurrencies, look for lesser-known projects.

The most popular cryptocurrencies, excluding stablecoins (as of 09/06/22)

Should I invest in the most popular crypto?

It is determined by your investment strategy. Investing in the most popular cryptocurrencies is typically less profitable but also less risky than investing in lesser-known cryptocurrencies. The exception is cryptocurrencies, which have recently gained popularity due to hype. These cryptocurrencies are frequently overpriced and risky to invest in.

What is undervalued crypto?

Cryptocurrencies that are undervalued are those whose current market price is less than their perceived true value. Many crypto investors seek out such cryptocurrencies in order to purchase them at a discount and then wait for them to rise and approach their estimated potential price.

This strategy, however, is quite risky because there is no guarantee that a seemingly undervalued asset will actually rise in price. Furthermore, due to the high volatility of cryptocurrencies, the price may not only fail to rise, but may also fall dramatically, leaving investors with a significant loss.

The most undervalued crypto to buy right now

WikiBit have produced a list of ten cryptocurrencies that have already garnered some popularity but are, in our opinion, significantly undervalued. However, keep in mind that the number of factors impacting the price of a cryptocurrency is enormous, and their impact might be difficult, if not impossible, to forecast. As a result, it is not assured that the cryptocurrencies listed here will reach their current potential.

Chainlink (LINK)

Chainlink is a decentralised oracle service that serves as a link between blockchains and the outside world. It allows blockchain apps to access information outside the network. As the blockchain industrys need for such solutions grows, the project looks very promising.

Avalanche (AVAX)

A decentralised, open-source platform for launching DeFi apps, financial start-ups, trading and other services. As one of the fastest smart contract blockchain platforms on the market, Avalanche has the potential to become one of Ethereums main competitors.

Polkadot (DOT)

A game-changing project that is one of the main contenders to become the basis for Web 3.0. Polkadot is a multichain technology that allows different blockchains to be linked together without affecting the security of individual projects. Already having a quite high market capitalisation, the project token demonstrates the potential to achieve much more.

Theta Fuel (TFUEL)

Theta is a decentralised video streaming network that uses excess bandwidth and processing power of its users to improve video quality. The project developers intend to solve the inherent problems of the video streaming industry and edge out the centralised giants that currently dominate it. If they succeed, demand for TFUEL, the Theta platforms operating token, will increase markedly.

Chiliz (CHZ)

Chiliz is a project that aims to monetise the link between sports fans and their favourite teams and clubs while enabling the fans to participate in the teams lives. As the leading blockchain project in the huge sports and e-sports industry, Chiliz has great potential for growth.

IoTeX (IOTX)

IoTeX is a decentralised platform created as the basis for the Internet of Things. It addresses its pressing concerns, such as security and privacy. Given the enormous growth potential of the IoT market and the rapid development of the project itself, as well as the deflationary model of IOTX tokenomics, its prospects look promising.

Basic Attention Token (BAT)

BAT is a blockchain-based digital advertising ecosystem that connects content creators, advertisers and content end-users. The digital advertising industry currently has many problems, and BAT aims to solve them. Given the size of the digital advertising market and the need for an ecosystem that can settle its current issues, the BAT token has a good chance of growth.

Elrond (EGLD)

This is another project competing to become the ecosystem for the new internet. The Elrond network is one of the fastest blockchain networks available. On top of that, it offers very low transaction costs.

VeChain (VET)

VeChain is an ambitious project that began as a platform for supply chain management but later grew into ‘blockchain for businesses’. As a leader in its niche, the project continues to evolve.

Stacks (STX)

Stacks is a layer-1 blockchain solution designed to extend the functionality of the first and largest cryptocurrency, Bitcoin. It allows the implementation of smart contracts, decentralised applications (DApps), NFT and DeFi in the Bitcoin ecosystem without needing a hard fork or changes to the original blockchain.

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Disclaimer: WikiBIT publishes various content as general information only, without taking into account the circumstances, needs or objectives of any of its clients. This is not investment advice. Please conduct your own research when investing in any project.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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