Top 5 Largest Cryptocurrency Gainers of 2022
Latest crypto news. These are the 5 best-performing coins in the top 300 with the most significant gains based on year-to-date:
1. Nest Protocol (NEST) – 243%
Built on the Ethereum network, Nest Protocol is a decentralized price oracle platform. Off-chain data and on-chain prices are synchronized using a novel “quote mining” technique. The nest was created to allow community members to suggest, discuss, and vote on initiatives and projects that are good for the ecosystem. NEST, a native token that powers the protocol and controls the platform, is used to reward contributors from the community.
Holders of NEST tokens can vote on proposals and stake their tokens to participate in decision-making. The Nest Protocol’s transparent and equitable governance system, intended to prevent any group or person from having an excessive influence on the platform, is one of its key features. This is achieved through a system of smart contracts that ensures that all votes are weighted equally, regardless of the stake size.
A number of factors, including the rising desire for decentralized governance solutions and the growing understanding of the value of community involvement in the cryptocurrency and blockchain industries, may have contributed to the NEST token’s excellent price performance of 243% in 2022. The platform’s open and equitable governance structure, which ensures an even playing field for all users and promotes community engagement, also played a role in its success.
2. Trust Wallet (TWT) – 129.5% (crypto news)
Trust Wallet is a web3 wallet that enables users to manage, store, and transfer different digital assets across many blockchains, including but not limited to Bitcoin (BTC), Ethereum (ETH), BNB, and non-fungible tokens (NFTs). Both iOS and Android mobile devices support this mobile wallet. It can also be used to communicate with various decentralized applications (dApps).
Latest crypto news updates. The emphasis on security that Trust Wallet places on is one of its key characteristics. It leverages cutting-edge security techniques to safeguard users’ digital assets, including secure key storage and two-factor authentication (2FA). You can also create a recovery phrase that you can use to regain access to your wallet in the event that you misplace your phone or forget your password.
In 2022, TWT had increased by 129.5%. When Binance CEO, CZ, tweeted his support for Trust Wallet as a self-custody solution following the FTX crash, which resulted in a bank run where investors cashed out their assets from exchanges en masse, the token’s boom started.
.@TrustWallet allows you to store your crypto yourself, if you want. Your keys, your coins.
— CZ 🔶 Binance (@cz_binance) November 13, 2022
Users wait for Proof of Reserves to show that the institution actually holds the specific assets that match specific account balances, which appears to have stoked the need for self-custody solutions. This mistrust of centralized exchanges (CEX), including the recent fear, uncertainty, and distrust (FUD) surrounding Binance, appears to have stoked this need.
3. GMX (GMX) – 113.9% (crypto news)
Facilitating the full activity transition from CEXs to DeFi has a huge scope. This good crypto news is that the industry requires a sophisticated set of tools unique to central exchanges that are ideal for a larger user base and high trading volumes (derivatives, market-making capabilities, and more). The decentralized trading of perpetual futures on a variety of assets with almost 30x leverage on Arbitrum and BNB Smart Chain may be made possible with the help of GMX.
The exodus from CEXs brought on by the collapse of FTX is another factor contributing to GMX’s excellent success. In November 2022, GMX exchange outperformed Uniswap in terms of protocol fees due to high inflows to DeFi. The exchange’s low-cost fees and low-impact trades are its key advantages.
Visit to learn more about GMX and to learn how to trade on the platform.
4. Shardus (ULT) – 83.6%
- To address the scalability, decentralization, and efficiency issues with first-generation blockchains, Shardus has developed decentralized ledger software. To support a large user base and enable distributed networks at a global scale, it makes advantage of computation and state sharding. Shardus’s salient traits include:
- High speed: It swiftly processes transactions rather than grouping them into blocks, resulting in higher throughput.
- Scalable processing: Transactions are forwarded to shards (groups of nodes). This causes the chain to scale to millions of transactions per second because not every node processes transactions (TPS).
- It creates networks that can hold multiple accounts without requiring petabytes of storage from nodes by distributing state data across many shards.
- Fully decentralized: The network’s consensus method can be used with commercially available equipment. By doing this, entry barriers to the network’s decentralization efforts are greatly reduced.
5. PlatonCoin (PLTC) – 60.8%
Users can buy and sell using PlatonCoin (PLTC), a digital currency that is a part of the Platon Life ecosystem. Depending on their membership level, PLTC provides users with an insured digital wallet that provides insurance of up to EUR 1 million against theft. Users have the option to stake their PLTC to generate passive income. Additionally, you may use PLTC to make purchases from affiliated retailers and take part in promotions for luxury brand merchandise.