Bitcoin and Ethereum have been testing traders’ nerves for the past couple of months with no proper trade signals. However, emerging tokens especially Algorand (ALGO), Cosmos (ATOM), and IOTA (MIOTA) are running lately under the limelight by outpowering the market leaders.
Algorand is often referred to as an utterly undervalued cryptocurrency that has been thriving to break the crucial resistance above $2.15. With the new year being around the corner, the ALGO price appears to have gained the requisite momentum for the 2022 rally. However, the asset has managed to break out at $1.36 on the 22nd of December outlining a bullish outlook for Q1 2022.
Why is Algorand Trader’s Favourite For 2022?
The Algorand ecosystem has been growing at a swift speed. It has recently achieved remarkable growth in Algorand developer activity along with more than 11k engaged developers. In the meantime, it has claimed over $31 billion in asset value on-chain.
Further, in order to boost the creation of a cross-chain bridge between five blockchain platforms, Algorand has collaborated with Glitter Finance. In addition, the ecosystem has also plans of launching a $3 million liquidity incentive program in Q1 2022.
The token has recently come out of the bearish supremacy with a clear breakout at $1.07. IOTA (MIOTA) price was hovering within the rangebound scale between $1.3 and $1.4 from the past couple of months. However, as a large chunk of buyers jumped in to trade outpowering the sellers, the token passed a crucial resistance test at $1.4.
In the past 48 hours, MIOTA has managed to get listed on two of the popular exchanges. KuCoin has a massive user-base listed MIOTA on their exchange. ByBit has nearly a million user-base listed the token to enable the users to trade the asset.
Cosmos (ATOM) price is outpowering most of the emerging tokens with a recent breakout. With a break out at $22, the altcoin has managed to surge by 10.30% reaching $28.45 at the press time. However, it would clinch the values above $35 if it carries forward the momentum in Q1 2022.
However, the Cosmos ecosystem has been creating a new milestone in DeFi. It has reached a whopping $6.7 billion in Total Value Locked. This further indicates healthy network growth between the platform and the community.
Collectively, Algorand (ALGO), IOTA (MIOTA), and Cosmos (ATOM) are thriving hard to dominate amongst the most popular tokens in early 2022. On the other hand, BTC and ETH are still under a consolidation mode with a generation of consecutive higher lows. As these emerging tokens clear their roads for the early 2022 rally, new milestones could be easily achievable.