Cryptocurrency price

2022 Cryptocurrency Price Boom: Crypto Billionaire Names 2 Ethereum Killers To Invest In

For those curious about the 2022 cryptocurrency price predictions, crypto billionaire Sam Bankman-Fried has named two Ethereum killers people should try to invest in this year.

2022 Cryptocurrency Price Boom: Sam Bankman-Fried’s Picks

With the growing popularity of cryptocurrencies, several people are monitoring the news to learn more about the cryptocurrency price prediction for this year.

One of the most popular cryptocurrencies on the market is Ethereum.

Ethereum is a blockchain-based platform best known for its native cryptocurrency, Ether, also known as ETH or simply Ethereum, per Investopedia.

Investopedia also stated that the Ethereum network is secure due to the distributed nature of blockchain technology, and this security is what allows ETH to gain value.

In addition to Ether, the Ethereum platform offers a network of decentralized programs or dApps. The smart contracts of the Ethereum platform are a key part of how it works. Smart contracts and blockchain technology are used in a variety of decentralized finance (DeFi) and other applications.

Additionally, Ethereum’s blockchain technology enables the public creation and maintenance of secure digital ledgers.

As of January 2022, Ethereum is second to Bitcoin in terms of market capitalization, according to Investopedia. Bitcoin and Ethereum are comparable in many ways, but they have different long-term goals and limits.

Since Ethereum is at its peak, several crypto investors have been looking for alternative cryptocurrencies to try.

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In this regard, Business Insider reported that crypto millionaire Sam Bankman-Fried indicated that the most promising blockchains this year are Solana and Avalanche, both called Ethereum killers.

In an interview with Decrypt, the CEO of FTX noted that Solana, which is seventh in terms of market capitalization, has moved like a few others.

“They’re one of the only chains that has a real plausible path here to get to the level you’d need to get to if you wanted industrial-scale usage,” he told Decrypt via Business Insider. .

According to data from CoinMarketCap, the total value of Solana is only $44 billion, compared to $377 billion for Ethereum.

Unlike others like Ethereum, which has become famous for its high gas prices, the blockchain’s “proof of history” method provides relatively low transaction fees, ease of use and scalability, according to another Business Insider report.

Meanwhile, for Avalanche, Bankman-Fried explained that “it’s a real channel; it’s a cool channel, and I think there’s a world in which it gets absolutely huge.”

AVAX, the native avalanche cryptocurrency, ranks 12 with a market valuation of nearly $20 billion and a six-fold gain from a year earlier.

Cryptocurrency Price Prediction 2022

According to Invesco’s list of “unlikely but possible outcomes for 2022,” Bitcoin could fall below $30,000 this year as the cryptocurrency bubble bursts.

On top of that, the US investment firm’s global head of asset allocation noted that “the mass commercialization of bitcoin reminds us of stockbroker activity on the eve of the crash of 1929.”

He further stated that crypto investors are increasingly realizing that Bitcoin is not a “better currency” because it is highly volatile and has a limited supply, which makes it inflexible.

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