Best New Cryptocurrencies

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Contributor, Benzinga
October 24, 2022

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The cryptocurrency market is in one of the deepest periods of realized losses ever. Fear and pessimism are at unprecedented levels, which has resulted in many investors losing interest and exiting the cryptocurrency market. In addition to the overall gloomy economic backdrop, the crypto market has been rattled by negative effects such as the Terra Ecosystem collapse and Celsius fiasco, all of which have exacerbated crypto fear, doubt and uncertainty (FUD). 

However, in hindsight, fearful times have often turned out to be the best times to accumulate high-quality crypto projects at dirt-cheap prices. While investor demand may waver, project development continues to flourish. In other words, bear markets are for builders – a period of value creation in which new projects emerge, strong projects grow, and weak projects wither away.

Many investors consider 2022 a year of opportunity. By positioning themselves in innovative and undervalued projects now, investors have the opportunity to reap astronomical returns once the bull market and mainstream return to the crypto space. The following discussion will highlight the best new cryptos of 2022 and how they could be life-changing investments.

Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

How Long Will the Crypto Bear Market Last?

Timing the bottom of a crypto bear market is difficult because of many factors that have the potential to impact overall sentiment in the cryptocurrency space. However, a solid strategy to sniff out a trend reversal is by using Heikin-Ashi candlesticks on Bitcoin’s monthly chart. 

As the saying goes, “zoom out, when in doubt”; the monthly chart provides the best perspective for identifying a meaningful Bitcoin bottom and reversal. Monthly candlesticks can help eliminate the noise and allow you to visualize the multi-year trend of Bitcoin over a longer time frame.

As opposed to typical candles, Heikin-Ashi candles are calculated based on the weighted average price of previous candles. These candlesticks are a delayed indicator, meaning that if a trend change has occurred, you would have already missed the bottom. In previous bear markets, the downtrend on the monthly Heikin-Ashi timeframe has ranged from 13 to 17 months. Currently, Bitcoin has experienced eleven months in a downtrend already. Consequently, it is reasonable to assume that the market may be coming closer to the end of the bear market than the start. 

Best New Cryptos in 2022

Over 19,000 cryptocurrencies exist in 2022 within over 100 different sectors. Numerous cryptocurrencies emerge every month. Here is a list of some of the best, most promising cryptos of 2022.

IMPT

IMPT, a new token, has one of the strongest real-world use cases in the cryptocurrency sector. The purpose of IMPT is to tackle one of society’s biggest issues – climate change. It plans to do so through a unique carbon-offset program. As a result, IMPT has been coined as the best crypto winter token in the 2022 market.

IMPT aims to revolutionize the carbon credits market. By leveraging the power of the Ethereum blockchain, IMPT’s ecosystem enables users to buy, sell and trade carbon credits by structuring them as NFTs, providing unique benefits to a diverse range of stakeholders.

The most promising feature is how it allows users to obtain carbon credits. As opposed to having to go through a laborious investment process, users can acquire carbon credits through everyday shopping activities. IMPT's collaboration with hundreds of top brands – in industries including travel, technology and retail – makes it easy to combat climate change with everyday actions.

impt

Each of these brands will contribute a portion of their sales margin to worthwhile projects, as stated in IMPT's whitepaper. In turn, users receive the bonus in their crypto wallets in the form of IMPT tokens. IMPT tokens can then be exchanged into carbon credits through the built-in marketplace. Carbon credits can be sold, bought or held for their inherent value. 

The project just started Phase 1 of its presale, offering 600 million tokens for sale at $0.018 apiece, translating to a return on investment (ROI) of 5,555 IMPT tokens for every $100 spent. Phase 1 will last until all tokens have been sold or November 25, whichever comes first. Then Phases 2 and 3 will issue an additional 1.2 billion tokens at a higher price of $0.023 for Phase 2 and $0.028 for Phase 3, respectively.

Overall, IMPT is already taking big strides in solving a real-world issue. With a large network of partnerships secured and a promising development team, IMPT looks like it could be one of the best new cryptos in 2022. IMPT tokens can be purchased from IMPT’s official website

Apecoin (APE)

The Bored Ape Yacht Club (BAYC) proved to be one of the hottest non-fungible token (NFT) collections in 2021, solidifying itself as a key leader by market capitalization within the NFT space. However, the anticipation hasn't subsided, despite the collection's astronomical expansion in 2021. Celebrities like Post Malone have boosted their adoption of the BAYC ecosystem in 2022, and the ecosystem also bought the well-known CryptoPunks line.

In March 2022, Bored Ape holders were gifted over $100,000 in ApeCoin, while Mutant Ape holders were airdropped around $30,000 of the coin. With a bright future ahead for the Bored Apes and BAYC-associated projects, ApeCoin seems like a promising utility token for the trending ecosystem. 

ApeCoin’s official token (APE) will act as the utility token for the APE ecosystem, focusing on strengthening the BAYC community. As an ERC-20 token, APE can be used in four main ways:

  1. Unification of Spend: ApeCoin is the utility token of the APE ecosystem, meaning that it can be used to purchase products and services such as play-to-earn (P2E) games that BAYC develops. 
  2. Incentivization: ApeCoin is a means for third-party developers to participate in the ecosystem by integrating APE into games, projects and other services. For example, APE is accepted in the Benji Bananas game by Animoca Brands. For 25 ApeCoins, you can buy a Benji Bananas Membership Pass, which allows you to earn an in-game token that can be swapped for APE.
  3. Access: APE will function as a gating token, providing limited access to certain parts of the ecosystem such as exclusive events, games and merchandise.
  4. Governance: ApeCoin is the governance token of the ApeCoin DAO, enabling holders of the token to vote on governance decisions within the DAO. 

The total supply of APE is locked at 1 billion tokens, so it is not possible to mint further tokens.  Given BAYC’s popularity and high demand from price-insensitive investors such as athletes and celebrities, it is reasonable to assume that demand for APE will grow among investors if the BAYC ecosystem continues to successfully develop in 2023 and beyond.

Fortunately, as one of the best new cryptos in 2022 and a top 50 cryptocurrency by market capitalization, ApeCoin is supported on numerous crypto exchanges. ApeCoin (APE) can be bought from Gemini, Uphold or eToro

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Tamadoge (TAMA)

Tamadoge amalgamates several popular niches – including P2E, memecoins and the metaverse – to create a differentiated ecosystem of products referred to as the Tamaverse. Users can mint, battle and breed their Tamadoge NFT pets, earning rewards while climbing social leaderboards. The platform has passed a full smart contract code audit by Solid Proof and has had its integrity verified by CoinSniper.

tamadoge

While Tamadoge will continue to expand over time, providing more addictive arcade games, it's important to note that Tamadoge is a memecoin. Its demand will largely be predicated on positive market sentiment and the rising popularity of adjacent memes coins such as Dogecoin and Shiba Inu. Tamadoge can be acquired using Uniswap, OKX or MEXC. 

Despite being in the middle of a brutal bear market, the Tamadoge presale sold out in under eight weeks to raise $19 million. Looking ahead, if Tamadoge manages to amass even a fraction of the following of competitors such as Dogecoin or Shiba Inu, ROI could be absurdly high for early-bird investors. 

Battle Infinity (IBIT)

If you are looking for the best new P2E phenom, look no further than Battle Infinity – a new platform that synergizes the best of fantasy sports and P2E. Battle Infinity takes elements from decentralized finance (DeFi), NFTs and the metaverse to give users an all-in-one P2E DeFi platform.

At the heart of the project is battle games, which are NFT-enabled games that feature P2E capabilities where players can earn cryptocurrencies and game assets while playing. Battle games are integrated with a battle market (a marketplace for in-game assets), battle swap (an easy-to-use decentralized exchange) and the battle arena (an immersive environment for concerts, events and galleries).

The IBAT Premier League was the first game to be developed in the Battle Infinity metaverse. IBAT Premier League is an NFT-based fantasy sports league that enables players to customize and build sports teams and compete with other users for rewards. Battle Infinity is currently trading on public exchanges after raising an incredible 16,500 BNB in less than a month by selling out its pre-sale. IBAT can be purchased through PancakeSwap and LBank.

Given the enormous size of the Battle Infinity ecosystem, it is not surprising that it is one of the top low-cap cryptos to invest in for potential future gains. The value of IBIT will probably increase as the number of users, games, creators and opportunities increases. Overall, Battle Infinity is a great hedge against leading gaming tokens such as The SandBox and Enjin and boasts tremendous upside potential. 

Lucky Block (LBLOCK)

Lucky Block is the market-leading NFT competition platform that aims to deliver crypto to the mainstream by facilitating lucrative and quirky competitions. This new project hosts recurring competitions that provide users with the opportunity to win a range of dazzling prices – including $1 million in Bitcoin, a $300,000 Lamborghini and an extremely rare Bored Ape Yacht Club NFT. 

LBLOCK is the native token that powers the ecosystem. The purpose of LBLOCK is to streamline the interface by ensuring easy access to competitions and increasing payout speed to winners. With more than 50,000 holders around the globe, Lucky Block continues to push the boundaries with its competition prizes as demand continues to grow.

Each competition can be entered by purchasing a uniquely numbered NFT. At the end of July, Lucky Block upgraded its token to the ERC-20 standard, opening the floodgates to centralized exchanges (CEXs) and significantly increasing demand. LBLOCK V2 token was recently listed on Gate.io – a tier 1 cryptocurrency exchange. It also can be purchased on Uniswap, MEXC and LBank. 

Final Thoughts

If you are a long-term investor and believe in the potential of these projects, then it may be a good time to start building a position over the coming months. Having a small percentage of a portfolio in the best new cryptos could make a large difference in potential returns. However, the current macroeconomic backdrop is still gloomy, which means that accumulating altcoins, particularly new altcoins, is extremely risky. Further downside is more than likely in the short term and future success isn’t guaranteed. As a result, prudent investors may want to wait for signs of stabilization in prices and only invest money they can afford to lose before establishing positions. 

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts
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