Top Three “Must Avoid” Cryptocurrencies In 2022
Since the beginning of the year, the crypto market was experiencing a bearish pattern. Starting from Bitcoin, several cryptocurrencies were marching towards the dip. Although, the market still experiences bear moments while some cryptocurrencies experience bull run. The average stats of the crypto market presents that the price of most tokens have fallen over 20% while the total market cap has decreased to $1.7 Trillion.
The entire market holds thousands of cryptocurrencies where it is a real task to choose the right one. But no one can be sure about the future trading pattern of a particular cryptocurrency. As the trading pattern of the tokens are volatile, predicting the future is difficult and risky.
Significantly, many analysts and experts are sharing their thoughts about the future of tokens by studying the past data. There are many sources which hold the previous data of the whole market, through which the experts are coming up with predictions. Some may attain the predicted price action while some won’t, so on the whole, price actions of tokens are unpredictable.
Many would have heard of some random tokens which have potential to outperform mainstream cryptocurrencies while some really surpass the performance of leading tokens. On the other hand, the market also has some cryptocurrencies which are not worthy to invest in, where it’s structure and roadmap of the ecosystem defines. Thus, we are going to dig into the top three cryptocurrencies to avoid purchasing in 2022. The three crypto-assets are Ethereum Classic, EOS, and Zilliqa.
Not Worthy Coins
The first cryptocurrency in the list is Ethereum Classic (ETC) which is a blockchain platform that allows developers to build all types of DApps. The Price value of ETC has almost dropped 23% since the beginning of the year and 85% down from it’s ATH. The considerable reason for not to buy ETC is because the developers have avoided it since launch.
The significant point is ETC has lost its correlation with Ethereum, where once the correlation with Ethereum was the main reason to invest. Thus Ethereum Classic faces strong competition from platforms like Solana and Avalanche.
The second coin is EOS which has now dipped over 85% to it’s all-time high. It is one of main coins to avoid buying in 2022 as it’s market cap has fallen to $2.2 billion. Moreover, EOS has not created any applications for 4 years. It is also a blockchain platform that came from Block.one’s ICO which has not gained the attraction of users.
The top third coin in the list of avoidable tokens is Zilliqa (ZIL) which is a pioneering blockchain platform that introduces the sharding concept. The price value of ZIL also dropped over 80% from it’s ATHATH, while it was one among the top coins when it reached peaks. As many platforms have integrated the concept of sharding which works better than ZIL, it is predicted that ZIL is not worthy to buy in 2022. Those other platforms include Polkadot, Elrond, and NEAR so ZIL won’t have a greater chance of attracting users.
Furthermore these are reasons why it is not worthy to purchase these coins and suggested to avoid buying it in 2022. As a matter of fact, it is always advisable that people should do their own research before investing in cryptocurrencies. Among the huge crypto market, there are many potential tokens and joke tokens where investors should be careful to choose the right one. Besides, the crypto space has started to recover a bit, so there is a chance to experience a huge bull market in the future.
Disclaimer: The opinion expressed in this article solely author’s. It is not interpreted as investment advice.
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