For the past few years, cryptocurrency has built quite a community around itself. Despite its volatile status, there are plenty of use cases where we can see how profitable crypto investments can be. As digital money continues to gain traction on Wall Street, more and more options become available. There are currently over 20,000 cryptocurrencies on the market. While you can use cryptocurrency to make purchases, most people treat it as a long-term investment. However, to avoid risk it is important to know which top 10 cryptocurrencies have high potential in upcoming 2023 and beyond.
Ethereum started a strong increase above the $1,600 level against the US Dollar. ETH is up over 15% and might even clear the $1,700 resistance zone. 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.
After everything is trading in red in the crypto space, Dogecoin price made a refreshing spike and may even more than double in price by the end of 2022, according to analysts' long-term price forecast. Being the original and top meme token, Dogecoin is killing it in the crypto game. DOGE has seen a slight gain of 0.5% as seen in the past 24 hours. As of press time, DOGE is currently trading at $6.2. Dogecoin is currently the world's 10th largest crypto in terms of market cap. It has a market capitalization of $8.3 billion which has declined by 2% from its all-time high of $73.8 on May 8, 2021.
Shiba Inu whales' trading volume skyrocketed by 640% as seen in the coin's 24-hour trading volume. An increased buying or selling activity among whales has peaked by 61%. Large transactions that spiked to 57.41% were noted in active addresses of SHIB holders as seen in the past 24 hours. SHIB value surged by 3.06% which comes with Shiba Inu reverting to the key support level of 0.00001.
Tether is a blockchain-based cryptocurrency that is backed by the U.S. dollar. This means there are actual dollars in reserves at financial institutions to serve as collateral. Stablecoins, when fully backed by the dollar, have a 1:1 relationship with USD. You can expect stablecoin prices to stay stable, as the name suggests, unlike popular cryptocurrency counterparts Bitcoin and Ethereum.
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.
USD Coin has a set value of US$1 per coin, and each USD Coin is backed by a US dollar in a separate bank account. This makes USD Coin a popular choice for crypto investors who want to avoid the volatility and price risk associated with big currencies like Bitcoin and Ethereum. It is one of the best cryptocurrencies to buy before June to get rich.
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.
Avalanche is one of the few blockchains that can scale without sacrificing decentralization. Its potential for interoperability with many blockchains is limitless. Avalanche blockchains alter consensus algorithms based on the use case, and the network has more validators than other networks. It is one of the best cryptocurrencies to buy before June to get rich.
Bitcoin started a fresh increase above the $22,000 resistance zone against the US Dollar. BTC must clear $23,000 and $23,700 to continue higher. Cash Bitcoin Cash's supply is capped at 21 million coins. It also reduces the rate of mining by almost 50% every four years, which indicates that its circulating supply also keeps decreasing. Due to coin burns, its market value has witnessed a price hike.
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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.