Top 7 Biggest Crypto Gainers of 2022

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Key points to remember:

Nest Protocol’s NEST is the top performing crypto with a net gain of 243%.

Trust Wallet’s TWT is the second best performing crypto in the top 300, with a net gain of 129.5%, due to the shift to self-custody and a nudge from Binance’s CEO, CZ.

GMX, ULT from Shardus, PlatonCoin, SSV from SSV Network and GNS from Gains Network complete the list of the 7 best performing cryptos of 2022.

2022 could be one of the worst years in crypto history. With the endless Russian-Ukrainian war, record inflation in the United States since 2008, the collapse of Terra and FTX, “loud layoffs” involving tech giants like Meta and Amazon, and deteriorating stock prices tech stocks, the crypto market has been going through a tough time this year. But these conditions have not affected all cryptocurrencies equally.

While some coins end the year in the red zone after losing more than 50% of their value from their recent all-time highs, others managed to defy the trend and close the year in the green zone. We at CoinGecko have prepared a list of the 7 best performing coins with the biggest gains based on price movements this year. Join us as we take a look at each of these pieces and what makes them unique.

Note that this list is for educational purposes and should not be considered financial advice. Please see below for more information on how to identify these parts.

Top 7 Best Performing Cryptos of 2022

These are the 7 best performing coins in the top 300 with the most significant gains on a year-to-date basis:

Nest Protocol (NEST) 243%

Nest Protocol is a decentralized pricing oracle platform based on the Ethereum ecosystem. It leverages a unique quote extraction method to sync off-chain data with on-chain prices. Nest is designed to allow community members to propose, debate, and vote on projects and initiatives that benefit the ecosystem. The protocol is powered by a native token called NEST, which governs the platform and rewards community members for their contributions.

NEST holders can participate in decision-making by staking their tokens and voting on proposals. One of the essential features of the Nest protocol is its transparent and fair governance system, designed to prevent any group or individual from exerting undue influence on the platform. This is achieved through a system of smart contracts that ensures that all votes are weighted equally, regardless of the size of the stake.

In 2022, the NEST token saw an impressive price performance of 243%, likely due to a combination of factors such as growing demand for decentralized governance solutions and growing recognition of the importance of community involvement. community in the cryptocurrency and blockchain industry. The platform’s transparent and fair governance system has also contributed to its success, as it provides a level playing field for all participants and encourages active community participation.

Trusted Portfolio (TWT) 129.5%

Trust Wallet is a web3 wallet that allows users to store, manage and transfer various digital assets across multiple blockchains, including but not limited to Bitcoin (BTC), Ethereum (ETH), BNB and non fungible (NFT). It is a mobile wallet available on iOS and Android devices. You can also use it to interact with various decentralized applications (dApps).

One of the main features of Trust Wallet is its focus on security. It uses advanced security measures, such as secure key storage and two-factor authentication (2FA), to protect users’ digital assets. It also lets you set up a recovery phrase, which you can use to restore access to your wallet if you lose your phone or forget your password.

TWT appreciated 129.5% in 2022. The token’s surge began in November after the collapse of FTX caused a bank run where investors cashed in their assets from exchanges en masse, when the CEO of Binance, CZ, tweeted its support for Trust Wallet as a self-guard. the solution.

.@TrustWallet allows you to store your crypto yourself, if you wish. Your keys, your coins.

CZ Binance (@cz_binance) November 13, 2022

Distrust of centralized exchanges (CEX), including the current fear, uncertainty, and mistrust (FUD) surrounding Binance, appears to have triggered the need for self-custody solutions as users await proof reserves to prove that the institution actually holds the specific assets that match specific account balances.

GMX (GMX) 113.9%

The broad scope of facilitating the full transfer of activity from CEX to DeFi is huge. The crypto community needs a sophisticated set of tools (derivatives, market making capabilities, etc.) native to core exchanges while still being suitable for a larger user base and large trading volumes. GMX is a potential piece of the puzzle that facilitates decentralized trading of perpetual futures on various assets with almost 30x leverage over Arbitrum and BNB Smart Chain.

GMX’s impressive performance is also fueled by the exodus of CEX driven by the collapse of FTX. High inflows to DeFi pushed the GMX exchange to outperform Uniswap in terms of protocol fees in November 2022. Its main strengths are the exchange’s profitable fees and minimal price impact trades.

To learn more about GMX and how to trade on the platform, check out CoinGecko’s guide to GMX.

Shardus (ULT) 83.6%

Shardus created decentralized ledger software to address the scalability, decentralization, and efficiency issues of first-generation blockchains. It leverages compute and state sharing to scale to a large user base and empower globally distributed networks. Shardus key features include:

High Speed: It processes transactions quickly instead of categorizing them into blocks, which increases throughput.

Scalable processing: it routes transactions to shards (groups of nodes). As such, not all nodes process transactions, causing the chain to scale at millions of transactions per second (TPS).

Scalable storage: Distributes state data across many shards, creating networks capable of storing multiple accounts without requiring petabytes of storage from nodes.

Fully decentralized: you can use standard machines to participate in the network’s consensus mechanism. This significantly lowers the barriers to entry of network decentralization efforts.

PlatoCoin (PLTC) 60.8%

PlatonCoin is a digital currency that is part of the Platon Life ecosystem, where users can buy and sell with PLTC. PLTC offers users an insured digital wallet, providing users with theft insurance of up to €1 million, depending on their membership level. It offers users the opportunity to stake their PLTC for passive income. Additionally, you can use PLTC to purchase items from partner stores and participate in promotions for luxury branded items.

SSV network (SSV) 43.5%

SSV Network is a decentralized staking protocol that facilitates the decentralized operation of Ethereum validators. It works by splitting a validator key between more than three untrusted nodes. Nodes are mutually bound to perform validator roles through a proof-of-stake (PoS) mechanism. Generally, SSV Network transforms a validator key into a multisig concept controlled by a consensus layer.

The network enhances the robustness and fault tolerance of Ethereum blockchain nodes. Assigning validator keys between nodes significantly improves the standard staking mechanism through:

Offline storage of validation keys

Active-to-active redundancy

Custom node instances

Threshold signature mechanism

SSV Network is the first open application of the SSV model, born out of Ethereum Foundation research in 2019. The protocol has evolved into a DAO-based community network of stakers, developers, and operators.

Network earnings (GNS) 27.1%

Gains Network is a decentralized trading protocol that allows you to profit by predicting asset prices. Your profits or losses are magnified since the network provides high leverage with no financing costs that you borrow indirectly, which means your profits/losses belong to you. Gains Network powers the biggest trading pairs, ensuring flexibility and user choice in its decentralized leveraged products.

GNS (renamed from the GFARM2 token) is a native token of the Gains Network ecosystem, serving as a utility token, a store of value, and potentially a governance token as well. The Gains Network team says they are working on establishing a GNS token-powered DAO, where GNS token holders will be able to contribute to the platform by voting on improvement proposals.

Learn more about GNS and Gains Network.

Conclusion and methodology

NEST, TWT, GMX, ULT, PLTC, SSV, and GNS are the 7 best performing cryptos of 2022. The mass exodus from CEX to DEXs and unique features, especially when it comes to staking and effect trading of leverage, contributed significantly to the impressive price. performance of these cryptocurrencies.

This list is derived based on the price movements of cryptocurrencies in the Top 300 list on CoinGecko from January 1 to December 21, 2022.

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Josiah Makori

Josiah is a technology evangelist with a passion for helping the world understand Blockchain, Crypto, NFT, DeFi, Tokenization, Fintech, and Web3 concepts. His hobbies are listening to music and playing football. Follow the author on Twitter @TechWriting001

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