Cryptocurrencies have gone through a sort of dark winter to start 2022, with cryptos like Bitcoin and Dogecoin down off their starting points from January 1st, 2022.
March has been a wild month so far for cryptos, with the Russian invasion of Ukraine and United States President Joe Biden announcing an executive order on cryptocurrencies, sending both the crypto markets into turmoil.
Investors on Wall Street have had March Madness bets on which crypto to dump and which to buy. Let’s look at three cryptos that can weather the storm going forward in 2022.
XYO Network Token (XYO)
The XYO Network token has the potential to recover its losses at the beginning of 2022 with a recent announcement of a joint venture between them and the Outlier Fund.
They are investing $10 million each to help expand and improve the XYO Network’s capabilities. XYO Network aims to have its blockchain tech used in smart cities and cars worldwide, which is essential for any future with this crypto.
The XYO Network already has a partnership with FedEx on the logistics tracking of packages. The XYO Network seeks to have a trustless network for package tracking and delivery, making a safe and seamless transition through the entire shipping process.
Businesses and customers can use its network to help the supply chain, which has been an issue over a couple of years due to the COVID-19 outbreak.
Dogelon Mars (ELON)
Dogelon Mars is a crypto that is a fork of the meme crypto Dogecoin (DOGE). The crypto was started in 2021 and has a dog-like version of what looks like Elon Musk on its website.
While Musk has no endorsements of this meme crypto, the creators here are looking to cash in with how Musk, who is referred to as the lord of meme coins, promotes meme coins via his Twitter account.
While the crypto doesn’t have many applications like DOGE, ELON is hoping to ride off the coattails of Musk and his crypto-influencing tweets.
If Musk puts out a tweet about any crypto, there usually is movement, one way or the other, with the cryptos he tweets about. With that in mind, if Musk decides to say anything about ELON, which has Musk’s first name in it, it could be going “to the moon!’
Ripple is one of the few cryptos that hasn’t lost as much value since the start of 2022. The crypto touts itself as the world’s fastest and most scalable crypto for payments. Ripple was established in 2013, meaning Ripple has a track record in the crypto market that all can closely examine.
Ripple has gone up since its beginnings in 2013; however, Ripple hasn’t surpassed its all-time high from 2018 of over $3. The benchmark is high if Ripple wants to reach a new all-time high, with Ripple currently under $1.
While it is a lofty goal for Ripple and holders of this crypto to reach the $3 mark, it can be done if the major players in the crypto market start seeing the actual value of Ripple.
Where Does Bitcoin Fall in the Mix
Most people will ask why Bitcoin isn’t part of this list, to which I have a compelling answer for you. Bitcoin is under too much fire from environmentalists and some governments.
Biden’s executive order took an overt shot at Bitcoin, which is seen as a threat to the environment with the electricity needed to mine for the cryptocurrency. The order talked about the energy costs of mining cryptocurrencies and innovation in crypto.
While Bitcoin did go up on Tuesday off of the accidental release of the deals of the order, Bitcoin has yet to find a stable market value as it would go back down in value shortly after the Biden press release on the details of his order. The order won’t be the only issue that Bitcoin will have.
As tensions between Russia and the world heat up, there could be more calls to ban Bitcoin, as governments fear that Russia will use Bitcoin to get around the sanction they have against Russia.
The only thing helping Bitcoin are the donations of Bitcoin to help Ukraine, something that might help Bitcoin from completely collapsing and hold off worldwide regulation of Bitcoin.