The crypto market has copped with several challenges in 2022, and it is no surprise that the market's volatility has been a significant concern for investors. Cryptocurrencies experienced major growth over the past year, exceeding a US$3 trillion market capitalization, just last November. The year 2022 has also been a year where the market witnessed an influx of retail investors to join the market and enjoy returns of double, triple digits, and even more on their investments. But the volatility surrounding top cryptocurrencies like Bitcoin, Ethereum, and Solana, has come under immense pressure. Several macroeconomic factors including the ongoing inflation, geopolitical crises between Russia and Ukraine, and the Fed's aggressive moves to reduce the impact of economic adversities are some major reasons that caused cryptocurrencies to plummet. However, market analysts believe 2023 might bring some good news for crypto traders. Here, we have listed the top cryptocurrencies that you can buy before 2023 and generate profits the next year.
Nobody can say how Ethereum will perform over time, but it is definitely a more promising cryptocurrency than other cryptocurrencies. Ethereum is about to launch the biggest upgrade in the history of the digital asset market and has quite rapidly recovered from the market slump. Experts predict that Ethereum might soon overtake Bitcoin in the coming months, which makes it a promising cryptocurrency for 2023.
Experts consider BNB as an effective long-term investment, which is predicted to grow in the coming years. Currently, the overall price movement of BNB seems positive. Among all other altcoins, it is one of the largest digital assets by market cap and has been aiming to steadily expand its ecosystem through stablecoins. BNB is also expected to be supported by several partnerships and integrations.
XRP has been around for quite a long time and is one of the top 10 cryptocurrencies in the market. The coin can be used to transfer assets on the Ripple network can it can also be used to buy, sell, and trade on crypto exchanges. The idea behind Ripple's creation was to transfer money which should help attract more people in a time of increasing globalization.
Bitcoin might be a dangerous cryptocurrency to rely upon, at this point, but it has certainly not lost its prominence in the economic and financial markets. The year 2022 saw widespread adoption of digital assets like Bitcoin among the most luxurious brands in the world for payments. Experts believe that if Bitcoin adoption continues at this momentum, then it might surely explode in the months to come.
Decentraland is a decentralized and immersive virtual reality platform based on the Ethereum blockchain. It assembles exciting features like entertainment, gaming, and e-commerce elements to appeal to individuals and businesses alike to invest in it. With the growing popularity of the metaverse, the MANA token is expected to explode massively in 2023.
Polygon aids Ethereum by being a side chain that connects the entire ETH network. The Matic network uses its own proof-of-stake blockchain and Commit Chain connectivity to help scale the Ethereum network and solve inefficiencies that will hinder the widespread adoption of its blockchain. As ETH 2.0 is expected to expand the prospects of Ethereum, it is speculated that Polygon will also highly benefit from this endeavor.
Cardano has witnessed dramatic volatility over the past several months. But the ADA price surged without hindrances in early June. The ADA token rose at a time when almost all other cryptocurrencies were declining due to various macroeconomic issues. Even though ADA was unable to sustain the price spike, experts predict that Cardano would make a noteworthy cryptocurrency investment in 2023.
Solana is a top performer in 2021. Its growing community of investors was excited to witness how Solana's technology is more advanced compared to other top cryptocurrencies like Bitcoin. SOL is basically a newcomer but has shown substantial improvements in its price performance. However, its network is quite vulnerable and suffers from frequent outages, but it still continues to remain a strong investment option in 2023.
Polkadot is one of the most secure and innovative networks in the crypto space today. This is why analysts believe that the DOT token will skyrocket in 2023. With the growing popularity and development of the Web 3.0 domain, Polkadot is emerging as one of the most popular cryptocurrencies among other digital assets.
Experts believe that Litecoin definitely has a good future in the crypto market. It is also one of the top 10 most-traded cryptocurrencies, which is also widely accepted and easy to trade. Apparently, Litecoin holds better value than several newer altcoins with lower market capitalizations. The year 2023 should be a great year to invest in Litecoin.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.