Crypto Beginner

Most searched cryptos of 2022

most searched crypto

For the last few months in 2022, most cryptos haven’t shown much appreciation in terms of price or volume. But the popularity of cryptos has continued to grow. One way to assess the popularity of any crypto is to look at its search volume. As we draw to the end of another year, our list of the world’s most searched cryptocurrencies of 2022 should help you plan your short-term trades better.

Coin selections have been made based on a combination of factors, such as Google search volumes, recent and major developments in projects, and market cap rankings.

Most searched crypto of 2022

The most searched crypto of 2022 is…*drumroll*…Bitcoin! No surprises there since it is also the biggest project in the space and is often seen as synonymous with crypto. After all, it was the first project to gain popularity more than a decade ago. Although the coin has lost more than 70% of its value from the last all-time high, development is still underway.

Last year, for instance, Bitcoin underwent an upgrade called Taproot. It enabled partial support for smart contracts on the network—something everyone was waiting for. Before Taproot, while Bitcoin could work smart contracts, they weren’t very efficient. Ethereum was the biggest chain that supported smart contracts. With Taproot, the Bitcoin network’s privacy and efficiency were improved on a large scale.

Bitcoin striving to keep up to date seems to be paying off if one goes by search statistics.

Google Search volumes for Bitcoin, Crypto, and Ethereum
Google Trends data showing search volumes for Bitcoin, Crypto, and Ethereum

The Google Trends graph above shows that as of 1 December 2022, although search volumes for the industry as a whole are declining, Bitcoin still beats Ethereum and the word Crypto! In the last 2 years, the word Bitcoin has been searched more than 2.3 billion times worldwide. In comparison, Crypto searches only appeared 1.02 billion times, and Ethereum had a mere 519 million.

Bitcoin, overall, is the giant of the crypto world. With one of the largest networks and infrastructure foundations of any project, its popularity in 2022 hardly comes as a surprise.

Top trending cryptos of 2022

These trending cryptos are projects of high interest in December 2022. These coins have seen healthy trading volumes in the past month and have ranked high on market cap trends (based on data from Coinmarketcap on 1 December 2022), and have seen rapid fundamental development.

Tether (USDT)

USDT is a stablecoin by the Tether platform. It ranks #3 by market cap, coming in after Bitcoin and Ethereum.

The most widely traded stablecoins in the crypto space, USDT’s trading volume in the last 24 hours alone, as of 1 December 2022, is over $33 billion, according to Coinmarketcap. The coin thus comes with great liquidity.

The stability of stablecoin prices comes from the fact that their value is pegged to that of another asset. The value of Tether’s stablecoin is pegged to the US dollar. That means USDT is designed to maintain price parity with the US dollar. So 1 USDT is usually equal to 1 USD because Tether claims that all USDT tokens are backed by 1:1 dollar reserves. These reserves are supposed to ensure that USDT’s price stays pegged to the dollar.

Billions in market cap and great trading volumes make it very easy to buy and sell USDT. Another reason for its success is that it works on multiple chains, offering easy integration and adoption. Bitcoin, Ethereum, Tron, EOS Network, and Algorand are some of the platforms that support USDT. Tether has also worked to make USDT more accessible by launching its ERC-20 token on Ethereum.

Cardano (ADA)

Cardano is also currently one of the biggest cryptos by market cap. With a blockchain that’s flexible, sustainable, and infinitely scalable, it is poised to become the Ethereum of the future. It can run smart contracts, which allows the development of a wide range of dApps, tokens, games, and more. Recently, Cardano has also partnered with another blockchain network called COTI to launch an over-collateralized algorithmic stablecoin.

Polkadot (DOT)

Polkadot is another great project and one of the most well-known platforms to facilitate cross-chain transfers. This means that Polkadot allows values and data to be sent across previously incompatible networks while being really fast and scalable. The DOT token can be staked for regular block rewards or traded on crypto exchanges.

Even in a non-performing market, DOT has managed to snag a mention as the chain with the most development activity in the past week (as of 21st November 2022).

Most promising crypto of 2022

Polygon is, in our opinion, one of the most important and influential tokens in the GameFi and decentralized entertainment space. It doesn’t have a blockchain of its own since it is a platform that runs on Ethereum and helps it work better. By helping Ethereum scale, Polygon reduces the congestion on the parent chain, improving speeds and reducing transaction fees. Any innovation on Polygon has a direct impact on Ethereum’s utility too.

The Ethereum Merge has made Ethereum very energy-efficient. However, it will take time before users can see tangible improvements such as quicker transactions and lower charges. Since Polygon addresses these issues, it will stay relevant in the future until these issues are resolved.

Polygon MATIC has been in the news a lot, and all for the right reasons. In July 2022, Polygon became one of the six companies that American media house Disney added to their accelerator program. The addition suggests that Disney may be looking to integrate the project into its upcoming entertainment projects.

Before that, in February of last year, Polygon integrated Zero Knowledge (ZK) technologies into its project. The team is currently actively developing scaling technologies related to zero knowledge, including ZK-rollups, sidechains, and other blockchain architecture.

Conclusion

That brings us to the end of this list. We hope you’ve found something here that you want to study more.

Obviously, all these projects have their own USPs and drawbacks, so you need to figure out which one works for you. And the only way to do that is through DYOR. Ensuring that you’re investing in tokens that resonate with your personal investment strategy and goals will make all the difference.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk

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