Binance Smart Chain (BSC) has become a solid alternative to Ethereum and other DeFi platforms due to its popularity and user-friendliness. On the other hand, Ethereum has failed to prove a good option due to its cost and speed. As a result, investors who look at 2022 as a potential for the DeFi industry should focus on what Binance Smart Chain is providing as an opportunity.
Binance is a popular cryptocurrency exchanger that initiated business in September 2020. It is almost similar to Ethereum except for some differences. For example, Ethereum uses PoW protocol while the BCS is stuck to PoS. Therefore, investors can process more transactions in a second than Ethereum has a lower cost. The following section lets you know the best five BSC DeFi in 2022.
Best DeFi coins to buy in 2022
Before proceeding further, let’s see the top 1- DeFi Coins to buy in 2022:
- Solana (SOL: $37.43B)
- Ethereum (ETH: $333.07B)
- Chainlink (LINK: $10.35B)
- Uniswap (UNI: $8.70B)
- Avalanche (AVAX: $18.11B)
- Polkadot (DOT: $21.48B)
- Cardano (ADA: $41.38B)
- Dogecoin (DOGE: $19.79B)
- Binance Coin (BNB: $68.67B)
- Tether (USDT: $78.28B)
Market cap: $10.35 billion
Chainlink works as a layer to the blockchain network so that people can connect smart contracts into it. This project uses an oracle network where blockchains can interact with several events at a time.
Since its formation, the Chainlink network is providing services as a massive open-source data provider, smart contracts developers, and many more. The strength of this company is decentralized finance, where growth the almost guaranteed.
The max supply of Chainlink is 1,000,000,00 LINK, and among them, 47% or 467,009,549.52 LINK is in circulation.
Does the LINK have the potential to grow?
This digital coin allows people to integrate off-chain data into smart contracts. Already this platform grabbed the attention of several trusted providers like Alpha Vantage of Houbi.
Chainlink Native token (LINK) reached the all-time high of $53.00 level in the mid of 2021, and the price bottomed at the beginning of 2022. Therefore, it is in a good buying area where breaking above the all-time high is potent for 2022.
Market cap: $41.38 billion
Cardano offers a proof-of-stake protocol where developers aim to provide positivity to innovators and visionaries. Since 2017, Cardano has offered businesses where the native token ADA can participate in the Cardano network. The team behind this blockchain network says they have several projects to compel the technology that can allow decentralized apps and smart contracts to emerge.
ADA showed modest growth in August 2021, after the Alazo hard fork where the smart contract functionality appears in the platform. After the launch, almost 100 DeFi apps were deployed to the blockchain.
The max supply of Cardano is 45B ADA, and among them, 75% or 33.54B ADA is in circulation.
Does the ADA have the potential to grow?
ADA showed a corrective momentum after the hard fork, and the price remained above the 1.026 key support level during the yearly opening. Based on its potentiality and price action, ADA is a solid investment opportunity for 2022, where the ultimate price target for this year is $10.00.
Market cap: $18.11 billion
Avalanche is the fastest smart contract protocol in terms of time to finality. The token name of this particular crypto project is AVAX which allows users to pay fees and make the platform secure. The current all-time high level of AVAX is $79.52, and the all-time low is $2.79.
The total supply of AVAX is 395,891,290, and among them, 244,349,414.42 AVAX is in circulation.
Does the AVAX have the potential to grow?
AVAX started 2022 with a bearish momentum, but the price remained steady above the 51.43 key support level. Therefore, any rebound from this would be a buying opportunity for 2022.
Market cap: $19.79 billion
Dogecoin came from the Litecoin fork in December 2013, where the primary aim of this token is to provide tips to content creators. Although it was introduced as a meme coin, it became popular with several praises from celebrities on social media.
The all-time high of Dogecoin was $0.7376 on 8 May 2021, and the all-time low was at $0.00008547 in 2017.
The total supply of Dogecoin is 132,670,764,300, and 132.67B DOGE is currently in circulation.
Does the DOGE coin have the potential to grow?
Since its inception, Dogecoin has provided 26602.04% return on investment, which is amazing for a crypto investor. However, investing in meme coins is associated with some unavoidable risks. Therefore, although the bullish possibility for this coin is solid, investors should remain cautious about the risk factor.
Market cap: $8.70 billion
Uniswap was launched in November 2018 as a decentralized platform where automated trading on Decentralized finance tokens is possible. The main aim of this project is to keep the trading method automated and open to everyone.
The max supply of this token is 1,000,000,000 UNI and among these 63% or 627,301,984.27 UNI is in circulation.
Does the UNI coin have the potential to grow?
UNI is a potential investment opportunity for 2022, where the current support level is at $13.00 area. Any strong rebound with a price action signal above $13.00 would be a buying opportunity in 2022, where the ultimate target would be at the $100.00 level.
Pros and cons
|👍 Pros||👎 Cons|
|Transaction in BSC is less costly than other platforms.||As a centralized platform, the Binance authority can intervene in any activity.|
|It is a centralized exchange where operating the coin is easy.||BSC was primarily reliant on the Ethereum community, although it has changed its position now.|
|Investors will experience sophisticated customer support services.||As a centralized exchange, investors can not avoid the possibility of hacking.|
We have seen the top five Binance Smart Chain DeFi potential for 2022. However, some risks are associated with the crypto investment that a trader cannot ignore. Therefore, good trade management and risk management system applies to this platform besides looking for the best price from technical analysis.