The Market Report with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the top three trending altcoins you might want to consider looking at in 2022.
But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down.
Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each of them makes his case for what he thinks is the top trending altcoin to buy in 2022. First up, we have Bourgi, with his pick of Terra’s LUNA, which offers a stablecoin system and a native blockchain. TerraUSD (UST) is now the third-largest stablecoin with a market capitalization of $18.3 billion.
The Luna Foundation Guard also plans to spend about $10 billion on Bitcoin (BTC) reserves, but could there be a risk backing UST with an asset that has an entirely different risk profile? Also, the total decision on how to spend the $10 billion lies in the hands of one man, Do Kwon, a co-founder of Terra. Can a single person really decide how to spend such an enormous fund?
Yuan is next with his pick of ApeCoin (APE), which has a current valuation of about $15 billion. It also has a lot of celebrity influence, a product structure similar to Tesla and an ecosystem that will unlock even more utility for ApeCoin, such as metaverse assets, property, rent, loans, etc. On the downside, however, nothing in the metaverse is operational at the moment, and everyone trusts the vision of ApeCoin’s board. Plus, there is no telling yet how it will compete with the likes of Meta, Google and Decentraland once it finally does get up and running.
In the third spot, we’ve got Finneseth. This week, he has decided to go with STEPN (GMT), which brands itself as a Web3 lifestyle app and is designed to promote a healthier lifestyle where users can earn rewards for walking, jogging or running outdoors. It also integrates the concept of nonfungible tokens (NFT) with its “Sneakers,” which can be equipped before the user starts their outdoor activity with GPS activated to earn rewards.
Users have the ability to level up their sneakers and then sell them on the marketplace for GMT, which can be converted to USD Coin (USDC). It’s an interesting and unique concept, but will it be enough to sway our loyal viewers to vote for him in our live poll?
After the showdown, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Oasis Network (ROSE) and Everest (ID).
Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room and write your questions there. The person with the most interesting comment or question will be given a free month of Cointelegraph Markets Pro, worth $100.
The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.