Altcoins News: These altcoins will rise or plunge alongside Bitcoin in 2022

The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

Altcoins or alternative coins as they are otherwise known, typically refer to any other cryptocurrency apart from. But while the word may be a broad term being used for a wide range of cryptocurrencies, some altcoins and altcoins news are known to be more closely tied to the leading cryptocurrency — Bitcoin (BTC) and events related to them, than others. However, that is mainly a result of the fact that a good number of the so-called 'alternative coins' were forked from Bitcoin.

Also noteworthy is the direct impact that the price of Bitcoin has on altcoins. It can be seen that altcoins prices are usually directly proportional to that of Bitcoin in the crypto market. That is, when BTC rises, altcoins do the same. But when BTC plunges, altcoins will inevitably plunge as well. So, with the current situation of the crypto market, and how difficult it is for BTC itself to stay afloat, one can easily understand why the majority of the altcoins are also having troubles at the moment.

Having said all these, below is a list of the top seven most closely related altcoins to Bitcoin that will either rise or perish with the top cryptocurrency in 2022.

Top seven altcoins whose fortunes or doom are tied to Bitcoin

Solana

Solana (SOL) is one of the biggest altcoins, and part of a group of cryptocurrencies tagged the "Ethereum killers." And just like Ethereum, it uses blockchain technology to facilitate decentralized finance (DeFi) projects including smart contracts and non-fungible tokens (NFTs). In addition, Solana also supports decentralized app development (dApps).

Uniswap

Uniswap is another altcoin that investors may use to earn and swap. The Uniswap protocol boasts of many products and service offerings. They include;

Gelato, which supports automated transactions between cryptocurrency tokens on the Ethereum blockchain, TrustWallet, its highly secure crypto wallet, Universe Finance — a smart vault provider, and Rotki, the open-source analytics tool.

Cosmos

Just like every other aforementioned altcoin, Cosmos is another top altcoin whose fall will be unavoidable should Bitcoin fall in the current crypto market that has proven to be almost more volatile than usual. Reputed for offering solutions to some of the pertinent challenges of the blockchain industry including environmental impact, and slow and costly transactions.

Polkadot

Polkadot is one of the top altcoins which has an open-source blockchain platform. It provides interoperability and interconnectivity between specialized blockchains. That is, Polkadot helps facilitate the cross-chain transfer of any data between various blockchains. However, it is only able to achieve this, by permitting independent chains to securely exchange messages and transact with each other without the need for a trusted third-party

Polygon

Polygon is a decentralised Ethereum scaling platform that allows developers to create scalable user-friendly dApps with low transaction fees, whilst also keeping an eye on security. The altcoin combines the proof-of-stake blockchain infrastructure and the Plasma framework for investors to have a seamless experience.

Theta

Theta is a popular altcoin and blockchain, whose end-to-end infrastructure was purposely built for decentralized video streaming. On Theta, crypto investors may share bandwidth and computing resources via a peer-to-peer method.

Avalanche

Avalanche is perhaps the most connected altcoins to Bitcoin. It is, in fact, the fastest smart contracts platform in the blockchain space. And with its offering of an eco-friendly, low-cost, and remarkably fast platform, Avalanche may have become a favourite amongst smart contract-based applications.

The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

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