The significance of the crypto market grew dramatically in 2021 as major brands and financial institutions, even nations adopted cryptocurrencies for payments and as legal tender. The market exceeded the much speculated US$3 trillion mark just last November, but then crypto assets fell by a landslide, a few weeks later. The crypto market entered into a deep slumber, wreaking havoc on the investor community. Cryptocurrencies took a steep turn in June of 2022. As the world took steps to curate a successful and profitable digital currency framework, the market plunged into an abyss of loss and volatility. Subsequently, several investors decided to sell off their investments and flee the market to avoid facing further financial losses. The flagship cryptocurrency, Bitcoin's falling market dominance was one of the primary triggers that forced crypto users to flee the digital asset ecosystem. BTC's current volatility is giving way to the other altcoins to rise and eventually take its place to become the largest cryptocurrency in the world. Here, we have listed the top cryptocurrencies that are speculated to generate more profits than Bitcoin and help investors recover their losses in 2023.
Ethereum just launched the much-anticipated Merge upgrade that caused the token to plummet drastically. But ETH 2.0 is expected to have a positive effect on Ethereum, and all over cryptocurrencies, including Bitcoin. Due to the successful implementation of Ethereum Merge, experts anticipate that ETH might soon overtake Bitcoin in the coming months, making it a promising cryptocurrency in 2023.
Cardano has demonstrated intense poise and composure, at a time when the entire crypto market plummeted. Scalability, sustainability, and interoperability are some of its chief selling points. The recent Vasil fork upgrade has enabled the token to build smart contracts on its network. Currently, the ADA token is witnessing volatility like any other cryptocurrency in the market, nevertheless, the token continues to remain a noteworthy investment in 2022.
XRP's dominance in the crypto market is rapidly growing. 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. This is one of the major perks of XRP, making it a better investment than Bitcoin in 2023.
The future of BNB is dependent on the growth of the Binance Exchange platform. And as per the current scenario, Binance Coin's future looks bright which could pump prices to new highs. BNB is now using stablecoins to establish its grip on the crypto market. The year 2023 is expected to be eventful for cryptocurrency.
Solana is one of the top performers and also the fastest-growing cryptocurrency of 2021. Its growing community of investors is quite excited to witness how a newcomer like SOL has been able to establish its foothold, better than Bitcoin. However, its network is quite vulnerable and suffers from frequent outages, but it continues to remain a strong investment option in 2023.
Polkadot is one of the most secure and innovative networks in the crypto space today. Analysts believe that the DOT token will skyrocket in 2023, since the growing popularity and development of the Web 3.0 domain has made the cryptocurrency, one of the most popular digital asset investments in the market.
Polygon is one of the most popular cryptocurrencies, which is renowned for being the valuable layer-2 scaling solution for the Ethereum blockchain. Experts believe that for quite a long time, the MATIC token has featured among the top cryptos, but it is massively underutilized. But the year 2023 might yield successful prospects for the digital asset since a growing number of off- and on-chain brands have already expressed interest in building their spaces on the platform.
Aave is one of the top-gaining cryptocurrencies. Over the years, crypto has successfully established its foothold in the market. As one of the largest loan providers with a highly efficient and intuitive protocol, Aave is legit and stands as one of the top cryptocurrency investment options in 2023.
Decentraland is a virtual reality platform that is decentralized, immersive, and built on the Ethereum blockchain. Its network combines exciting features such as entertainment, gaming, and e-commerce to entice individuals and businesses to invest in it. With the rising popularity of the metaverse, the MANA token is expected to explode in 2023.
Avalanche is one of the few blockchains that can scale without sacrificing decentralization. Its potential for interoperability with other blockchains is swifter and more efficient. Avalanche blockchain alters consensus algorithms based on the use case, and the network has more validators than the networks of other digital assets. It is one of the best cryptocurrencies to buy before 2022 ends to generate massive profits next year.
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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.