With more than 19,000 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US exchange-listed stocks. That massive amount of supply makes it nearly impossible to keep track of all the big movers in the crypto sector outside of well-known coins like Bitcoin, Ether, and Dogecoin. The surge in new crypto coins came amid a massive bull market for the sector in 2021, but a more than 50% decline in bitcoin from its November high is challenging the space, especially in smaller coins that saw extraordinary gains last year like Solana, Cardano, and Polkadot. This article explores the top 10 cryptocurrencies to sell before 2023 begins.
Bitcoin, the leading digital asset, needs no special introduction. With the largest market capitalization, Bitcoin is considered to be the best store of value in the cryptocurrency market. If you perceive the market to be over-extended, consider selling bitcoin.
Ethereum, the second-largest cryptocurrency by market cap, is widely recognized for being a utility blockchain that hosts several Defi projects. If you as an investor expect the Ethereum price to go down into a correction (in retaliation to Bitcoin dominance), selling it off is just the right thing to do.
Investors very well know that EOS hasn't moved in price much for the last couple of years. This is why they are of the perception that selling off EOS might be more profitable rather than holding onto their EOS position.
Quite evidently, Yearn Finance is an exciting project. The token YFI has now corrected more than 50%, thereby emphasizing the very fact that it should be sold off before it is too late to regret and not able to do anything later!
Polkadot is, without a doubt, one of the most popular altcoins. At this point, taking partial profits and setting a stop loss at your entry point is considered to be an ideal way to go about it.
Stellar Lumens has been quite a popular altcoin couple of years back but hasn't made much movement since then and underperformed Bitcoin during the run-up to $65,000. Thus, selling this altcoin makes every possible sense right now.
Libra Coin rose to fame as it was pioneered by top-tier enterprises like Facebook PayPal and Mastercard, to name a few. However, with the current market scenario in mind, Libra Coin would fetch better at a sell position.
The very reason why cryptocurrency investors are keen on selling IOTA is that they may want to consider selling IOTA for a new coin with more hype and potential. If the same is the case with you as well, then go ahead.
Ripple is considered to be a better alternative to Bitcoin. Its scalability and liquidity have won attention from every corner of the world. The fact that it likes to have short-lived bull cycles where it marks up in price followed by a longer bear cycle throws light on why it should be sold off before it is too late.
Litecoin is known in the cryptocurrency market for its faster transaction speed and scalability. In no time, it evolved to become one of the top 10 cryptocurrencies. If you want to move profits back into Bitcoin, USD, or another altcoin, consider selling off 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.