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Cryptocurrencies might have started as a revolution in the traditional financial and economic markets, but since their adoption into the mainstream markets, this investment class has made it to the top of the investment pyramid. Institutional investors and centralized banks are also considering adopting digital assets to gain profits when they surge and offer their customers safe crypto transaction means. Despite the volatility, several cryptocurrency investors are staying on the lookout for the next big cryptocurrency, in other words, the next Bitcoin contender. Well, even though, it might be quite hard to intercept the next cryptos to invest in, there are certainly several contenders that have made their position in the market amid this tumultuous state of the market. Here, are the top 10 cryptocurrencies that could become the next Bitcoin in 2023.
The Ethereum blockchain powers Decentraland (MANA), a virtual reality platform that enables users to create, enjoy and sell content and apps. Users can later explore, develop, and monetize plots of land in this virtual environment. Many Decentraland users currently earn profits from their LAND through leasing, advertising, and sponsored activities in addition to using it as a creative outlet.
MATIC-USD is the token that powers these layer 2 platforms. Polygon uses its Proof-of-Stake (PoS) blockchain and Commit Chain connectivity to help scale the Ethereum network. The aim is to resolve inefficiencies that may hinder the more widespread adoption of blockchain technology.
Crypton (CRP) is the main monetary unit and privacy coin of the Utopia P2P ecosystem — a decentralized and private platform that provides comprehensive security and protection for users. Crypton was designed to conduct financial transactions in Utopia P2P. It securely stores cryptocurrency and does not display the user's current balance. The cryptocurrency is based on a Proof-of-Stake, so the ecosystem nodes are located all over the world and participate in data transmission every second. CRP can be bought on the inner no-KYC Crypton Exchange platform.
WAVES-USD is the final possible candidate to be the next big crypto on the market. Essentially, Waves is a blockchain platform for building Dapps and smart contracts as well as launching custom crypto tokens. The platform uses a variation of the PoS consensus mechanism called leased proof-of-stake (LPoS).
Chiliz (CHZ) is a project that is promoting this course with partnerships with leading football clubs like Manchester City, Barcelona, and PSG. Chiliz's focus is to connect you with your favorite team. CHZ, the project's native token, is designed to help users virtually interact with their favorite clubs. The token can also be used to make purchases through Chiliz's native platform – Socios. You can also use CHZ to acquire rewards through challenges and token hunts.
Filecoin (FIL) has the honor of possessing the record of having the largest presale ever. During its initial presale stage in 2017, Filecoin raised US$52 million, and during its ICO (initial coin offering), the peer-to-peer network raised an extraordinary US$205 million. Filecoin sits as the 38th biggest cryptocurrency in the world, amassing a market cap of almost US$2 billion, according to data from CoinMarketCap.
Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum's rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability. It has a circulating supply of 245,532,531 AVAX coins and the max.
The platform provides real-time payments with extremely fast transactions. XRP-USD is the native cryptocurrency used on the Ripple network to facilitate money transfers between various currencies. The Ripple platform is widely considered to be the most efficient settlement option for financial institutions for interbank flows.
Shiba Inu (SHIB) was created by an anonymous person named Ryoshi. It was made to mock Dogecoin but quickly gained traction itself. Now they both sit in the top 20 cryptocurrencies by market capitalization. Shiba Inu is also on a positive trend. It has increased by 1.785% in 24 hours at the time of writing.
Solana is a highly functional open-source project that banks on blockchain technology's permissionless nature to provide decentralized finance (Defi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. It has a circulating supply of 319,790,577 SOL coins and the max. supply is not available.
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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.
