Crypto markets have not been kind to investors and as we near the end of 2022, many investors are looking forward to 2023 and asking an age-old question. What will the best investment be in 2023?
In this article, we compare Ethereum Classic and Solana and give you a bonus pick too. Keep reading to find out more about what we think could be the best performing crypto in 2023.
The market found a new reason to invest in Ethereum Classic (ETC). The network's hash rate sat at record high levels in the past 7 days.
Its hash per second averaged 48.12 H/s in the past week and climbed all the way to 53.26 H/s on Sunday.
This is by far its highest settlement since the DAO incident in 2016 which split Ethereum into two blockchains Ethereum (ETH) and Ethereum Classic (ETC). Miners are migrating to ETC from ETH as the latter transitions to a PoS consensus that requires the approval of validators for transactions instead of mining blocks.
The news is pushing ETC prices to open the new week in the green zone, up by 1.23% to $38.18. The coin made an 11.19% jump in the last 7 days and is up 141% from three months ago.
Our 2023 ETC price prediction? This could be one to watch, recent performance has been great but investors should be wary of sudden drops and signs of it being overbought.
Another coin that's leading this week's gains is Solana (SOL). At the time of writing, its price made a 10.62% jump to $38.30, sending its total gains to 25.33% in the last 7 days of trading.
The breaking of the hard resistance in $33 opened greater heights for Solana. Analysts say that the coin will now attempt to break $41. Sellers are expected to take the lead at this level, particularly at $41.90, so make sure to take some gains before optimism dies down.
Solana's RSI at 62.43 shows that buyers continue to outpace sellers currently, but we could see a quick turnaround once the coin hits the overbought territory at $70.
Will Solana be a good investment in 2023? We think it could be. Investors need to be cautious but should keep an eye on this project.
And now our hidden gem! The Hideaways (HDWY) is a little-known project that only launched a week ago. The project has already begun making waves in the market and smashed its 1st presale period in record time, selling over 70m HDWY tokens in the process.
It provides investors with what we think is the best investment choice for 2023 as it enables investors to benefit from a huge rental yield, staking rewards, and impressive gains in the HDWY tokens.
The project is Solidproof audited and liquidity is locked with no time limit. Team tokens are locked for 12 months to prevent rug pulls and the team has set a 10-week HDWY token vesting schedule to maintain price security.
This combination of security, passive income, and impressive gains make this a great all-rounder and it's certainly in our top 3 2023 crypto investments.
Website: https://www.thehideaways.io
Pre-Sale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
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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.