Cointelegraph’s “The Market Report” show is live. In this week’s show, experts from the Cointelegraph team discuss the top three altcoin trends you could consider in 2022.
But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are current market conditions bullish or bearish? What are the prospects for the coming months? Pechman is here to break it down.
Next, the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth, and Sam Bourgi as they each make their case for what they think is the hottest trending altcoin to buy in 2022. First up, we have Bourgi, with his pick from Terra Luna (LUNA), which offers a stablecoin system (UST) and a native blockchain. UST is now the third largest stablecoin with a market cap of $18.3 billion.
The Luna Foundation Guard also plans to invest some $10 billion in BTC reserves, but could there be a risk in backing UST with an asset that has a totally different risk profile? Furthermore, the entire decision on how to spend the $10 billion rests in the hands of one person, Do Kwon, the co-founder of Terra. Can one person really decide how to spend such a huge fund?
Yuan is next with his pick of ApeCoin (APE) which has a current valuation of about $15B. It also has a lot of celebrity influence, a product structure similar to Tesla and an ecosystem that will unlock even more utility for ApeCoin, such as metaverse assets, property, rent, loans etc. On the downside however, nothing in the metaverse is operational at the moment and everyone is trusting in the vision of the board of ApeCoin. Plus, there is not telling yet, how it will compete with the likes of Meta, Google and Decentraland once it finally does get up and running.
Yuan is next with his choice of ApeCoin (APE), which has a current capitalization of about $15 billion. It also has heavy celebrity influence, a Tesla-like product structure, and an ecosystem that will unlock even more utility for ApeCoin, such as metaverse assets, ownership, rental, loans, etc. However, on the downside, nothing in the metaverse is operational at the moment and everyone trusts the vision of the ApeCoin board of directors. Furthermore, it is not yet known how it will compete with the likes of Meta, Google, and Decentraland once the digital universe finally kicks into gear.
In the third spot, we’ve got Finneseth, this week he has decided to go with STEPN (GMT) which brands itself as a Web3 lifestyle app and is designed to promote a healthier lifestyle where users can earn rewards for walking, jogging or running outdoors. It also integrates the concept of non-fungible tokens (NFTs) with its “Sneakers” which can be equipped before the user starts their outdoor activity with GPS activated to earn rewards.
In third place, we have Finneseth, which this week has decided on STEPN (GMT), which is presented as a Web 3.0 lifestyle application and is designed to promote a healthier lifestyle in which users can Earn rewards for walking, jogging, or running outside. It also integrates the concept of non-fungible tokens (NFTs) with its “sneakers”, which can be equipped before the user starts their GPS-enabled outdoor activity to earn rewards.
Users have the ability to level up their sneakers and then sell them on the market for GMT, which can be converted into USDC. An interesting and unique concept, but will it be enough to convince our loyal viewers to vote for it in our live poll?
After the showdown, we have the views of Cointelegraph Markets Pro, a platform for cryptocurrency traders who want to stay one step ahead of the market. Analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Oasis Network (ROSE) and Everest (ID).
Do you have a question about a coin or a topic that hasn’t been covered here? Don’t worry. Join the YouTube chat and write your questions there. The person with the most interesting comment or question will receive a free month of Cointelegraph Markets Pro, valued at $100.
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