The rising number of cryptocurrency investors is good enough proof that the cryptocurrency market is gaining popularity like never before. In the midst of all this, which cryptocurrencies to invest in always remains a critical question to address. But right now, the crypto market is in the recovery phase. Now, things can be confusing and overwhelming for first-time users to know exactly which cryptocurrencies are ideal for investment. Having said that, the potential that cryptocurrencies hold leaves us with curiosity as to what the future picture looks like. Take a look at these top 10 cryptocurrencies with the best growth potential in 2023.
Polygon introduced its version of the Ethereum Hardfork, which makes its pricing more predictable, eventually making MATIC deflationary by burning coins. Its purpose is to avoid over-flooding the market with token circulation, eventually improving the overall value of the token.
Ripple XRP is part of the rapidly-growing cryptocurrency universe that has enjoyed remarkable growth in fortunes over the past year – and continues to make headlines. Because of its consensus protocol, XRP can process transactions in seconds at a low cost and with minimal energy. This makes it one of the more environmentally friendly cryptocurrencies. Bitcoin transactions, on the other hand, aren't efficient. It is one of the top 10 cryptocurrencies to explode in 2023.
Ethereum, the second largest cryptocurrency, undoubtedly finds its place in the list of the top cryptocurrencies worth investing in. There are many reasons why this altcoin has grabbed attention. Its potential applications, particularly the smart contracts that automatically execute when conditions are met, are one of the top reasons.
How can the list not start with the largest cryptocurrency – Bitcoin? Ever since Bitcoin was launched, it has seen humungous growth. With the largest market capitalization, it goes without saying that Bitcoin is one of the best cryptocurrencies that is totally worth an investment.
Solana, which works with a blend of proof-of-stake and proof-of-history mechanisms, has fetched huge returns for investors. Be it decentralized finance (DeFi), decentralized apps (DApps), or smart contracts, Solana has got you covered.
Dogecoin was launched in 2013, and since then, there was no looking back for it. It has performed so well during the last couple of years that it has evolved to become one of the leading cryptocurrencies in the entire cryptocurrency market.
Shiba Inu is more of a community- and supporter-driven crypto that enjoys the security and advanced features of the Ethereum ecosystem. Of late, this cryptocurrency has posted significant growth during the last year. No wonder, why it is a part of the list of top 10 cryptocurrencies with growth potential in 2023.
Chainlink is a huge hit among Ethereum whales. For the year, 2021, crypto became the most-traded token. Ethereum whales bought and sold LINK tokens exponentially within a period of 24 hours in 2021, surging its popularity and market dominance.
Cardano became one of the top cryptocurrencies to be traded by crypto whales, including Ethereum's after its developers rolled out the Alonzo smart contracts and its debacle with its decentralized exchange, SundaeSwap, which instilled renewed interests in the whales. ADA holders are probably moving forward towards easier times as the crypto grows in prominence.
Whales are into gaming coins too, and Decentraland is an example. Decentraland has emerged as one of the leading metaverse tokens and is currently held by some of the wealthiest ETH whales. Reports from November 2021 revealed that for a period of seven days, ETH whales have invested in no other cryptocurrency than Decentraland. Quite similarly, MANA grew more with the rising popularity of the metaverse.
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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.