Yahoo Finance Why These 2 Cryptocurrencies Should Be Part of Your Watchlist in 2022
Written by Aditya Raghunath at The Motley Fool Canada
Cryptocurrencies have gained massive traction in the last 20 months. The rising utility of blockchain networks, including Ethereum (CRYPTO:ETH) and Solana (CRYPTO:SOL), has driven the prices of their underlying tokens.
While it’s difficult to value cryptocurrencies, you can analyze the utility of the network that will drive widespread adoption over time.
Here, we’ll take a look at two cryptocurrencies that have the potential to gain momentum in 2022 and why they should be part of your shopping list for 2022.
NAGA is a social investing platform
One cryptocurrency that is flying under the radar is NAGA (CRYPTO:NGC), which is valued at a market cap of US$103 million, at the time of writing. The price of one NGC token has risen from US$0.0286 in January 2020 to its current price of US$1.31, indicating cumulative gains of almost 4,500%.
Naga.com is a social investing platform with a user base of one million. The most important feature of the platform is Autocopy, where it allows traders to follow and copy each other, which might create a level-playing field for a novice cryptocurrency investor.
Over 1,500 tradeable assets are available at NAGA, including cryptocurrencies and equities. A German-based company, NAGA is publicly listed on the Frankfurt Stock Exchange.
The NGC token was launched back in December 2017 in partnership with the NAGA Group after raising US$50 million in an ICO (initial coin offering). An Ethereum-based token, the ICO was backed by noted investors that include Roger Ver and Miko Matsumura.
The NGC token is now added to the NAGA trading platform, where users can trade the digital asset like any other cryptocurrency as well as a CFD (contract for differences). In addition to trading, NGC will lower copy fees by 50%.
The NGC token has room to grow
Shares of NAGA Group have surged over 1,200% since early 2020 with an annual trading volume of US$250 billion. The company’s top line has surged for 11 consecutive quarters, and sales are forecast to exceed US$50 million in 2021 with a net income of US$10 million.
The demand for the NGC token should be robust given it will decrease fees and allow users to create smart contracts for copy trading. It basically allows content creators and traders to monetize investment strategies.
Unlike meme coins such as Dogecoin (CRYPTO:DOGE) and Shiba Inu (CRYPTO:SHIB), the NAGA Coin has actual utility and is poised to outpace several other digital tokens in 2022.
The bull case for Revuto
Revuto (CRYPTO:REVU) is the first decentralized app (dApp) built on the Cardano (CRYPTO:ADA) blockchain. Crypto traders can pay for their subscriptions through the dApp using the Cardano-native token REVU.
Revuto has captured a niche segment with immense growth opportunities by effectively integrating cryptocurrencies with the subscriptions market.
REVU is the first Cardano native digital token to list on the KuCoin exchange on January 7, 2022. It will also be listed on the Gate.io exchange on the same day. Investors who participated in REVU’s initial coin offering will see their wallets reflecting the deposits on January 6 and can begin trading from January 7.
REVU is now the first Cardano native asset to list on tier one centralized exchanges, such as KunCoin and Gate.io, at the same time.
In May last year, Revuto raised $10 million via its first-ever token sale. Also, it raised funds from retail supporters within 42 minutes during the Community Sale stage.
Revuto is in the process of launching virtual debit cards that allow traders to subscribe and pay using Cardano native tokens. These debit cards allow holders to manage their subscription seasonality, reducing losses.
Revuto was the first to launch a mobile wallet and ICO on Cardano, and it now plans to announce decentralized financing services later this year. The DeFi services are designed to help users pay for their subscriptions less than what they would pay with legal tenders and fiat money. In this regard, Revuto is also set to launch liquidity pools for micro-lending and borrowing.
The dApp has more than three million early sign-ups as of today, and more than 300,000 users have registered with the app since August 2021, making Revuto among the fastest-growing fintech start-ups in the world.
The post Why These 2 Cryptocurrencies Should Be Part of Your Watchlist in 2022 appeared first on The Motley Fool Canada.
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Fool contributor Aditya Raghunath has no position in any of the stocks mentioned. The Motley Fool owns and recommends Ethereum.
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