Most Popular Cryptocurrencies in 2022: Top 5 Booming Tokens
Coinspeaker
Most Popular Cryptocurrencies in 2022: Top 5 Booming Tokens
Time and again, the crypto market proves that robust projects backed by ambitious visions will bring lucrative returns to supporters. The key is to keep building and adding value to the underlying products through innovation.
In this article, we take a look at the most popular cryptocurrencies of 2022 and why they are trending.
What Are the Most Popular Cryptocurrencies
- My Freedom Coin (MFC)
- ApeCoin (APE)
- USD Coin (USDC)
- STEPN (GMT)
- Earthling (ETLG)
Top Booming Tokens in 2022 Reviewed
My Freedom Coin (MFC)
The most popular cryptocurrency of this year is My Freedom Coin (MFC) — the world’s first crash-proof cryptocurrency. The Coin that comes with zero liquidation risk is built to resist market volatility, ensuring consistent returns to investors. It acts as the fuel of a decentralized financial software of the same name, which is a Wallet, Bank, and Exchange. Let’s take a closer look at the sustainable value appreciation model on MFC.
MFC has a total supply of 7B. The funds generated from the sales of MFC are collected in a BEP-20 smart contract called BUSD Treasury. This enables it to buy back all MFC in circulation, creating ‘The Floor’. It is the absolute lowest price of MFC. Since each new MFC is released to the market at twice The Floor, the value of the Coin can only gain over time. This is the primary mechanism that MFC introduces to defeat volatility. MFC is a true DeFi Software owned by users, benefiting all holders equally.
The platform also takes the revenue generated from license fees, Exchange fees, transaction fees, and loan interest out of circulation to boost its price. For example, you are charged a small fee of 0.5% on peer-to-peer transactions of MFC. You can also get collateralized loans from the platform at Floor Value, paying a 0.98% monthly interest rate.
Let’s say the Floor price is $1, and you have 1000 MFC tokens. You can take out a $1000 loan from the BUSD Treasury at 0.98% interest per month. When repaying your loan, you will always receive the 1000 MFC tokens back that you used as collateral, minus the interest accrued during the term. Let’s say the Floor price has increased to $1.50 six months down the line. When you repay your interest due and receive your collateral back, it is now worth $1500 – meaning you’ve earned an additional $500, minus the interest accrued during the term.
You need to hold a Trading License if you want to buy and sell coins on the Exchange during that specific month. If you are among the first 10,000 holders, you can get the Trading License for $0. The amount grows by $5 for every new 10,000 holders, until it reaches $50 (100,000 holders). Interestingly, the fee is reinvested into the platform:
- 90% goes to funding the Community Program for Referral Bonuses on MFC, an invite-only platform. Every time you activate the Exchange License, the member who passed on the invitation code to you is rewarded.
- The remaining 10% is used to create a monthly demand for MFC through BuyBack.
Find out more about My Freedom Coin by visiting their Twitter or joining the discussion on Discord. Our readers can now sign up on My Freedom Coin using the code ABXNMMXPHN or by scanning the QR Code below.
What sets apart My Freedom Coin from other DeFi Lending Platforms:
- Zero liquidation risk
- Totally unique economics
- Collateralized loans for BUSD
- Clean & user-friendly interface
- Free to download on iOS and Android
ApeCoin (APE)
ApeCoin secures a second place among the popular cryptocurrencies of 2022. And for all the right reasons you must be aware of! ApeCoin is one of the highly celebrated crypto tokens we have seen in the market this year, thanks to its overwhelming presence on social media platforms like Twitter and Reddit. While the hype will have you believe that ApeCoin is just another meme coin, there is more to the story.
ApeCoin is a decentralized project that bears similarity to Yuga Labs’ Bored Ape Yacht Club project in terms of theme. At the heart of ApeCoin is a DAO that aims to build a fair and inclusive ecosystem. The community will take important decisions regarding the governance of the project through a decentralized voting system. ApeCoin acts as the DAO token and grants you voting rights in the community. The various initiatives driven by the community will be powered by the Ecosystem Fund, which holds 62% of ApeCoin.
As a third-party developer, you can interact with the ecosystem by incorporating ApeCoin into different projects, services, and games. If the project successfully delivers its white paper promises and vision, we expect its price to take off massively by the end of this year.
USD Coin (USDC)
Stablecoins have long been considered the best cryptocurrencies since they are pegged to the value of a fiat currency. Although they don’t exactly give you massive returns with long-term holding, they can be used for the exchange of value; Like how Satoshi Nakamoto envisioned cryptocurrencies. However, the reputation of stablecoins fell rapidly, thanks to the dramatic collapse of UST. It also tarnished the image of the crypto market in general, owing to the integral role stablecoins play in the industry.
Despite the erratic fluctuations in the market, USDC has proven to be a reliable stablecoin this year. It promises to always give 1 USDC for $1.00 by backing each USDC with dollar-denominated assets. They are held in accounts with US-regulated financial institutions and are equal to at least the fair value to the USDC in circulation.
USDC gives you access to the best of both worlds. You can use USDC as a currency, but without signing up for a bank account or enduring the high volatility of the crypto market. You can exchange it across the world at low cost in a few minutes, without going through the hassles of foreign exchanges. In essence, it widens the scope of businesses beyond borders.
Since USDC is programmable, it opens up new opportunities. For example, USDC makes it easier to lend and borrow money. They are faster and cheaper than real-world loans. They also facilitate global crowdfunding for businesses and charities.
STEPN (GMT)
STEPN is a crypto lifestyle application that successfully combines social-fi and game-fi elements. It gives you the opportunity to generate crypto income by engaging in physical activities! In effect, you make health and wealth in one go. You can walk, jog, or run and earn GMT tokens in return for your moving around. STEPN is one of the earliest projects to popularize the concept of move-to-earn.
Here, you can equip yourself with NFTs like Sneakers and engage in daily physical tasks like walking, jogging, or running outdoors. You are rewarded in the in-game currency for your movements. You can either use them to buy in-game assets and step up your position or sell them in the general crypto market for a profit.
The project’s goal is to nurture healthier lifestyles while popularizing web3 technologies and cryptocurrencies. It also aims to combat climate change as a Social-Fi aspect. The project is currently in its Public Beta Phase. STEPN will host a reliable platform for user-generated Web 3.0 content.
We expect GMT to gain value as the metaverse becomes an integral part of our lives. It will bring together the immense potential of social signaling and fitness achievements. The variety of partnerships in the fitness space will aid the growth of the platform.
As a STEPN user, you are not just rewarded financially. The returns and profit can’t be quantified in terms of money alone. It brings a host of intangible rewards as well. For example, you lose weight. You become more confident. You see visible changes in your body and life. You spend more time outdoors. Moreover, it brings routine and consistency to your life, making you happier and healthier.
Earthling (ETLG)
We conclude this list of the top booming tokens of 2022 with Earthling, an innovative new Web3 project that builds awareness about climate change. The project aims to become the biggest Web3 on-chain carbon offset marketplace in the world. It achieves this mission by turning the attention of families, businesses, and individuals to the increasing carbon use and how they can make a visible change. The goal is to remove carbon, restore nature, and help the world become carbon-neutral. The project also helps expedite reforestation by joining forces with farmers who live in the tropics.
The Web3 initiatives of Earthling are powered by $ETLG tokens, which fund the Earthling ecosystem and facilitate its governance. The DAO token gives you voting rights in key decisions like the distribution of funds. All Earthling proposals and discussions are held on Discord.
Wrapping Up
Cryptocurrencies are one of the best investments if you have a knack for finding projects that are consistently building value. We took you through some of the top booming cryptocurrencies in this article. Although they widely vary in vision, products, and revenue generation models, they have proven their worth this year.
While projects like ApeCoin highly rely on speculation, STEPN and Earthling are backed by promising visions. USDC and My Freedom Coin excel as safe stores of value. However, if you are looking for a reliable asset with great potential for growth, My Freedom Coin is the best choice. As the world’s first crash-proof cryptocurrency, MFC promises attractive returns without the risks of volatility.