5 top cryptocurrencies to look out for this week: January 17-23

Winner Ozowara

Analyst

 


Bitcoin seems to have lost the gain it had recovered earlier this year as it dropped to around $42,000 from the year’s high of $47,000. This price is far from the high of over $70,000 record of bitcoin as far back as November last year. The fall of bitcoin reflects the cryptocurrency market and its performance in general.

However, the crypto market has so much potential that investors are looking for opportunities to make money. Also, aside from the major coins like bitcoin, ether, and dogecoin, there are over 16,000 coins that offer the chance to make money from investment in crypto. These smaller coins with less liquidity and volatility provide investors with the opportunity to make money from cryptocurrency on a short-term basis.

To make money on these less common coins, you should keep an eye on the movement in the crypto market. These coins are rising and falling, and you should be able to project the following movements to buy coins at the early stage of a bull market.

Some coins you should watch for this week based on the market movement are:

Internet Computer

Current price: $32.77

Internet Computer is a utility coin that provides developers, IT professionals, and others to the Internet Computer platform, and with it, you can create websites and other valuable IT platforms for a fee in a decentralised system, which is one of the reasons the Internet Computer coin has been doing well recently, with a 10% increase in value in the past seven days.

The founder of Internet Computer is Dominic Williams, a crypto enthusiast and an investor in several technology ventures. The coin’s value increased to over $500,000,000.00, which shows trust in the currency and its market value as high.

With the coin doing exceptionally well amongst investors, it is undoubtedly among the top coins to consider for investment. As of Friday, it was down 0.44%, which poses an excellent opportunity to buy this coin in anticipation of its rise in the upcoming week. 2022 will be the year for coins like Internet Computer, which have great value in the IT industry.

Chainlink

Current price: $24.76

Chainlink is an ethereum-based platform which makes it very secure and trusted. The cryptocurrency is designed based on smart contracts, and node operators that allows users to earn performing specific tasks. In 2021 when the crypto market was surging higher, Chainlink was $52.88, which was also fueled by the developmental projects.

Sergeev Nazarov is the co-founder of Chainlink and previously co-founded Cryptamail in 2014. The cryptocurrency is unique, because it was the first platform to integrate off-chain data into a smart contract.

The coin is doing great since its ICO, priced at $0.11 and sold a total of 350 million, which is enormous for any cryptocurrency. However, with its popularity increasing, this is one of the coins that can rise and profit investors. The price of Chainlink has continued to grow over the years since its ICO, and we can only predict that the coin will do well with the crypto market.

As previously, the cryptocurrency has continued to develop projects that have pushed the price high. We will be expecting more of such a project in the near future as investors place a close watch on the coin.

Harmony

Current price: $0.375

Harmony is up by 7.5% as of Friday. Its current price is $0.38, and it is still at the prime stage for investors to take full advantage. The price is still very low for anyone who wants to take advantage of new coins in the market. With the highly expected prospect for the coin because of its budget, there is anticipation that the coin will do well in the future.

Stephen Lee founded the coin along with 12 others in 2017, and it is designed to facilitate the creation of applications in blockchains. The coin has promising features that will make it widely accepted as it is expected to fasten the creation of applications using blockchain technology.

Starting the year strong, with a rally of over 7.5%, and despite the fall experienced in the crypto market, it seems the best time to invest in Harmony.

XRP

Current price: $0.77

XRP is a digital technology and payment processor founded by Ripple to make payments swift and easy. In 2017, the XRP coin was  $0.006 and had gone as high as $0.83 in 2022, which is huge potential for cryptocurrency investors.

Ripple created the currency to ensure 3-5 seconds faster payment processing. It is a valuable currency, and they tend to do well because of its value. In addition, it is open-source, and anyone can operate at different levels.

With its low price value and potential to rise higher, It is the perfect cryptocurrency for new investors to take advantage of.

Cosmos

Current price: $39.28

Cosmos as a coin has risen in popularity over the years as a purpose-based cryptocurrency. The performance of the crypto is encouraging for investors, with a 34.9% rise in the past seven days. It was created to make blockchain technology less complex. Cheap and scalable, this is a project that will attract investors.

The origin of Cosmos was tied to Tindermint, which is the gateway for the cosmos ecosystem. Jae Kwon, Zarko Milosevic, and Ethan Buchman were the founders of this project, and the company has gone through several structural changes over the years.

Over the years since it was initially privately sold before its public offering, it has sold over $16 million, estimated at $0.10 per ATOM. So this is a sound currency for long and short-term investors.

Conclusion

There are thousands of cryptocurrencies, and it may be challenging to follow all these assets. However, you must keep a close eye on the top-performing currencies, and the ones with high potential as you plan your short and long-term investments. Some popular platforms where you can follow the trend in the crypto market are coinmarketcap, Twitter, Investopedia, coingecko, and much more.

It would be best if you made it a priority to check on the latest trends in the market to guide your investment this year. Proper analyses will help you stay on track with the best coins to invest in and make a profit.

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