Forbes, one of the world's leading business magazines, talked about the top 10 altcoins of 2022.

The first altcoin on Forbes' list is Ethereum. Walker Holmes, vice president of Metaverse platform, believes that ETH will lead innovations in blockchain technology with its position at the top in terms of both function and R&D. According to experts, the highly anticipated Merge update could have a major impact on the ETH price.

eth ethereum

The second altcoin on the list is Binance Coin (BNB). BNB coin is the cryptocurrency used for Binance and its blockchain-based initiatives. Experts say that BNB is not as decentralized as other altcoins. Another risk is the investigation by the Securities and Exchange Commission (SEC) into whether Binance should register BNB as a security during the ICO. However, given Binance's location and project-based function, BNB could be a promising altcoin.

Binance Coin BNB

The third altcoin on the list is Ripple (XRP). XRP is being adopted globally due to Ripple's moves that revolutionized the remittance and banking system. Although XRP has extremely low transaction fees, critics point out that the SEC lawsuit is the deciding factor on the price.

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Cardano (ADA) is also on the list. Cardano was one of the first adopters of the proof-of-stake consensus mechanism, which speeds up transaction time by eliminating the competitive and energy problems of platforms like Bitcoin. Holmes stated that Cardano is a pioneering project that paves the way for share consensus mechanisms in the industry. ADA is a blockchain solution that promises higher levels of security and lower fees than many of its counterparts. But Daniel Logvin, the blockchain network provider and CEO of LedgerByte, said that Cardano has made too many promises and has yet to deliver on many of them.

Cardano ADA-8

Solana (SOL) ranks 5th on the list. Developed to help power smart contracts alongside decentralized finance and applications, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms to process transactions quickly and securely. Solana is one of the fastest blockchains on the market. However, Whitney Setiawan, an analyst at cryptocurrency exchange Bitrue, says SOL is facing criticism for being too centralized with very few verification nodes compared to Ethereum. Holmes says Solana is a highly scalable blockchain solution with very low fees, but is experiencing outages and technical issues.

Dogecoin (DOGE) also managed to be on Forbes' list. Dogecoin is a meme coin that was started as a joke in 2013. However, it quickly turned into a successful cryptocurrency thanks to Elon Musk and his dedicated community. Richard Gardner, CEO of financial software provider Modulus Global, points out that DOGE has big backers like Musk, but remains riskier than Bitcoin. Garry Krugljakow, the founder of cryptocurrency company 0VIX Protocol, stated that altcoins such as DOGE may experience large fluctuations depending on the volatility in the market, as they have not yet proven their use case.

Solana Sol-4

The seventh altcoin on the list is Polkadot (DOT). Max Thake, co-founder of the blockchain network Peaq, pointed out that DOT does not lag behind Ethereum in terms of function and project. According to the manager, there is a constant demand for DOT from projects built on and targeting Polkadot. James Wo, CEO of blockchain and cryptocurrency investment firm Digital Finance Group, says DOT has excellent security and is a leader in developer activities and many projects.

Polkadot

Eighth on the list is the Shiba Inu (SHIB). According to experts, SHIB has made great strides in building the image of the meme coin and is among the promising projects.

Polygon (MATIC) also managed to be on the list. Polygon is an Ethereum-based scaling platform that allows developers to build dApps with low transaction fees. Logvin emphasized that MATIC allows individuals to transact on the Ethereum network.

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The last altcoin on the list is Avalance (AVAX). Latif Peracha, who leads fintech and crypto investments at venture capital firm M13, says Avalanche is a strong and ambitious altcoin given its strong developer community. AVAX offers two important features: high transaction speeds and low transaction fees. AVAX also has a huge value locked-in (TVL) in decentralized finance. TVL is the total value of crypto assets invested in a decentralized finance (DeFi) protocol such as staking, lending or liquidity pools.