Despite the year-long downturn in the cryptocurrency market, some coins and tokens have held their value and even given positive year to date (YTD) returns. This Crypto list of the so far best-performing digital currencies in 2022, regardless of the recent selloff, is showing some unique and interesting coins that might be worth looking into. Currency-pegged stablecoins were not included in the list, which was only open to cryptocurrencies with market sizes above $300 million. End-of-day market prices on July 3 were used to assess year-to-date performance.
Unus Sed Leo (LEO)
Similar to how keeping FTT on the FTX exchange can earn stockholders a concession on their purchases, holding LEO can save stockholders’ money on the exchange with the same name. The LEO coin functions as a value token that one may use anywhere within the iFinex ecosystem. Bitfinex consumers can save on transaction fees thanks to the cryptocurrency. The savings are based on how ample LEO a consumer has in their account: there are three tiers to choose from.
LEO maintained its value despite the market’s decline in May and June. The LEO token has become a hot topic in the cryptocurrency industry, especially after it entered the top 20 cryptocurrency list as the newest entry at No. 15.
Indicating that the LEO coin was able to maintain its worth as all the other coins around it were losing value, allowing it to rise to the top of the rankings.
In 2019, the authorities confiscated monies from Bitfinex’s disbursement processor for purportedly utilizing a cryptocurrency exchange to launder dirty money for Colombian drug cartels. Insisting that it was a target of deception, Bitfinex developed the LEO token to compensate users.
Only $1 billion of the coin was minted, and Bitfinex has promised to devote at least 27% of its profits to repurchase the coin from stakeholders and burn the remaining coins till they are gone. During the market decline, this element has maintained its effectiveness as a hedge.
Chain is a cloud-based blockchain platform that permits enterprises to develop superior monetary facilities from scratch. Chain unveiled Sequence, a ledger as a service solution, and Chain Core, a permission and open-source blockchain. With the company’s governance token, XCN, customers can pay for services, get discounts, gain admittance to deluxe features, and partake in community protocol governance.
Chain Core enables organizations to start and run a blockchain system or link to an increasing range of other systems that change how resources interchange around the world. The Chain Protocol establishes the rules for issuing, transferring, and controlling digital assets on a blockchain network. It permits a network to be operated by a single organization or a collection of organizations, facilitates the coexistence of diverse asset kinds, and is interoperable with other autonomous networks.
Chain’s governance and service token XCN is used to vote on implementing new features in the Chain protocol. Blockchain networks for Visa, State Street, NASDAQ, and Citibank have been established utilizing Chain’s technology, allowing numerous separate networks to communicate in a standard format. Aside from reductions in network costs and premium service access, holders of XCN tokens, formerly CHN tokens, may also be entitled to other perks.
Even though Stepn (GMT) has only been operating since March, the best-performing cryptocurrency of 2022 so far is relatively new. STEPN is a Web3 way of life software built on the Binance and Solana blockchains that allow consumers to buy NFT sneakers and receive cryptocurrency by running, walking, and jogging. Aside from that, STEPN promises to innovate a “climate-positive Web3 area” and has promised to purchase $100,000 in CO2 Removal Tonnes per month on Nori, the blockchain-backed carbon elimination market, which equates to almost 70.000 tonnes of CO2.
Solana-based game STEPN allows players to acquire NFT footwear to begin playing. During gameplay, the app utilizes the GPS on the user’s phone to track their location and award them with Green Satoshi Tokens, the in-game currency (GSTs). Users can later cash out their gains by exchanging these tokens for Solana (SOL) or USD Coin (USDC).
The buzz around STEPN results from the parabolic growth of its governance token Green Metaverse Token (GMT), which has increased by 24,500% since the token auction on March 9 on Binance. Sequoia Capital, a venture capital firm, and additional Web3 stakeholders also financed STEPN by buying GMT, valued at $5 million, in a seed fundraising round in January.
In addition, GMT investors can decide whether a significant portion of the company’s profits should go to carbon offsets. The combination of gamification of health and the allure of nature and the outdoors has been the winning formula for STEPN, which on March 9 began trading at 16 cents before resolving into a range in the middle of 60 cents and $1. It is still an increase of about 400 percent, making STEPN the best-performing cryptocurrency of 2022 so far.
Cryptocurrency markets have had a rough year, dropping almost $2 trillion in market capitalization and finally losing their identity as a trillion-dollar industry. Many cryptocurrencies have maintained their outstanding performance through the year 2022. These include but are not limited to GMT, XCN, and LEO. If you are a fan of the cryptocurrency market, Crypto Lists recommends that you take a closer look at these cryptocurrencies.