There are numerous digital currencies in circulation currently, which can make it overwhelming and confusing for the first time users to understand exactly which digital currencies to put their trust in. Adding to this is the idea of many unfamiliar cryptocurrencies, that the users cannot trust and put their money in.
To stay relevant in the digital currency space, it is important to also know about the various unknown cryptocurrencies that might hold a good potential in the market. Without any further delay, we will be talking about some of the unfamiliar cryptocurrencies for you to consider.
Top 5 Unfamiliar Cryptocurrencies
The idea of digital currency is allowing individuals of all purposes and intents, to formulate their own money. Levels of seriousness and coin value may fluctuate between the entries on this list. So without any further delay, let us get into the list of top 5 unfamiliar cryptocurrencies for you to consider this year.
Decentraland (MANA) is a VR (virtual reality) platform where customers can formulate and monetize their own experiences. It is a portion of the metaverse scene and users can burn their MANA token to get non fungible tokens known as LAND where they can construct their experiences. The MANA token has been in the market for a few years now to some average success. However, this all summed up for very little until the 2021 bull run which witnessed MANA pass more than $1 for the first time and then past $1.50.
In 2021 huge news came up that the parent company of Facebook, that is Facebook Inc will be rebranding to Meta Platforms Inc and that it will start to aim at constructing a metaverse. On the back of this headline, as CryptoBriefing reports, Decentraland increased in value, rocketing by close to 340 percent in a few short days. Price forecasters are more bullish on the prospects of Decentraland, all anticipating it might be able to retain its latest highs well into 2022. This is indeed the best unknown cryptocurrency 2022.
Algorand (ALGO) is an authorization ‘pure’ PoS (proof-of-stake) digital currency and is often thought to be one of the most effective around currently. It was basically designed to be a quicker and more effective Bitcoin. Up until lately, the price of Algorand performance has been a little awkward. After it began to trade in June 2019, it lost a lot of prices, decreasing from $2.16 down to $0.19 in October, losing initial investors a lot of hard earned money. Since then, it has performed hard to return to its original highs, recovering much of this value in 2021, first attaining $1.71 in February and then $2.37 in October, portraying a return to form. ALGO’s ATH is $3.28 on the 21st of June 2019. Algorand prevails to garner the attention of the public as it forms partnerships, a trend we will likely see prevail into 2022. In September 2021, this crypto signed a $100 million deal with the Drone Racing League, as stated by Matthew De Saro of BeInCrypto.
Enjin Coin (ENJ)
ENJ (Enjin Coin) is the digital currency that is used by the Enjin Network, a network of blockchain games and is employed to offer value to tradable in-game products in the form of non fungible tokens. ENJ was highly successful in 2021 just like many of the other unfamiliar cryptocurrencies on this list, partially because of the increased interest in NFTs. From rather low values prior to 2021, ENJ breached $1 for the first time in March and prevailed up to $4.00 in April 2021, and then attained its ATH of $4.85 in November. Since then, it has been trading for more than at any point prior to its existence. Enjin Coin has been very experimental in how NFTs can be utilized which could affect its value in 2022. For instance, in March 2021 dance shifts were turned into animated NFTs which could be bought by players and used as in-game ‘emotes’, as reported by Sebastian Sinclair of CoinDesk. Along with that, and perhaps more crucially, Enjin Coin partnered with Microsoft to formulate cross-platform NFTs for Minecraft in February 2021 to commemorate International Women’s Day, also reported by Sebastian Sinclair. This is huge news and this could lead to further partnerships between the two in the upcoming years. But before you plan for an unknown cryptocurrency to invest in, do your own research (DYOR).
MarketMove is among the top digital currencies with the ideal potential in this year for its problem with AI-driven contract audits. This digital currency in 2022 is set to introduce varied features from the rules of DEX (decentralized exchange) for luring the eyes of crypto investors. The initial supply of this unfamiliar cryptocurrency was one trillion and is popular for being hyper-deflationary. It is observed that this digital currency is worth holding for long-term crypto investors in their virtual wallets. You can include this crypto among the list of unique cryptocurrencies.
TrumpCoin was formulated on 20 February 2016, a few months prior to Donald Trump’s ascension as the official nominee of the Republican Party in the presidential election of that year. The creators of the token call TRUMP (the coin) a “worldwide fundraiser and support tool” for non-distinct recipients labeled ‘Patriots’, along with generally supporting the political aims of the former president. Trump himself was not affiliated officially with the crypto which bears his digital visage.
With so many options available, it should be more convenient to make a decision on which digital currency appeals to you the most and begin investing small chunks of money into it. But before you invest, other than popular cryptos like Ethereum or Bitcoin, it is important for you to know about the unfamiliar cryptocurrencies so that you get a wide options to invest in.