The year 2022 was a difficult time for the cryptocurrency universe, yet numerous cryptos triumphed over difficulties and achieved remarkable accomplishments even in such pessimistic circumstances. With the market becoming increasingly competitive, here is a list of the top 10 cryptocurrencies to watch in 2023.
1. Bitcoin (BTC)
The original cryptocurrency, Bitcoin, has been the go-to choice for many investors and continues to be a favorite. With its powerful underlying technology and a large community, it is likely to remain the most popular crypto in 2023.
The cost of Bitcoin has magnificently increasing since gaining recognition; for instance, in May 2016, one Bitcoin was worth almost $500, whereas, on January 6th, 2023, its price had climbed to approximately $16,759.14, an immense increase of 3350%.
2. Ethereum (ETH)
A blockchain platform that allows developers to create their decentralized applications and smart contracts Ethereum is the second-most popular crypto asset. Ethereum is a much more universal cryptocurrency than Bitcoin due to its unique features, such as smart contracts and the ability to create decentralized applications.
Ethereum has seen massive expansion from April 2016 to the beginning of 2023, where its rate shot up from approximately $11 to around $1,218, a rise of more than 10 thousand percent.
3. Dogecoin (DOGE)
In 2013, the Dogecoin cryptocurrency which initiates as a meme coin; however, it soon became an acknowledged virtual currency owing to its determined supporters and inventive memes.
In distinction to numerous other digital currencies, there is no cap on the amount of Dogecoins produced, making it possible for its worth to be reduced as availability amplifies.
During 2017, Dogecoin was worth 0.0002 USD per token, but by January 2023, its worth had skyrocketed to an astounding 0.07 USD – an increase of 35750%
5. Ripple (XRP)
A popular enterprise blockchain platform is designed for banks and financial institutions to facilitate international payments.
Ripple has seen a steady rise since its launch in 2012. By 2023, Investors expect it to be worth over $1.00 per token.
In January 2017, XRP was sitting at a low of around $0.006. By the start of 2023, its value surged to an impressive $0.35 with a total gain of almost 5,800%.
6. Cardano (ADA)
A decentralized platform for the development and deployment of smart contracts, Cardano is gaining traction as an alternative to Ethereum.
Cardano’s (ADA) pioneering adoption of proof-of-stake validations has made it particularly noteworthy. This process accelerates transfer speed and reduces energy expenditure as well as an environmental detriment by eliminating the problem-solving element of verifying trades that are observed in Bitcoin networks.
Cardano’s ADA token has had modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Jan. 6th, 2023, its price is $0.27, marking an increase of 1,170%.
7. Binance Coin (BNB)
The native token of the Binance cryptocurrency exchange, BNB, can be used to pay for trading fees and other services. Since its inception in 2017, Binance Coin has gone beyond merely acting as a medium of exchange on Binance’s trading platform. Now it is utilized for trading, payment processing, and the procurement of travel services.
In 2017, the BNB token was worth only $0.10, yet as of late January 2023. Its worth had multiplied by an enormous 245750% to about $246. This tremendous surge in value makes it clear that BNB will keep being one of the most lucrative cryptocurrencies this year.
8. Zcash (ZEC)
A privacy-focused cryptocurrency, ZEC provides users with enhanced security and privacy features. It uses a proof-of-work algorithm to facilitate transactions and provide enhanced protection compared to other cryptocurrencies.
9. Monero (XMR)
Another privacy-focused crypto, Monero, is based on a unique code that makes it virtually untraceable. Due to its privacy, it is also the most popular crypto for darknet markets and other illegal activities.
10. Polkadot (DOT)
A blockchain platform designed to facilitate the development of decentralized applications, Polkadot is quickly gaining popularity. Polkadot is one of the most promising cryptos of 2023.
Its platform allows various blockchains to interact, creating a more robust and secure network. This technology is attracting established companies’ and individual developers’ attention.
Since Polygon’s inception, its success has been exponential; from an initial value of $0.00263, MATIC is currently worth a massive $0.78 – a gain of almost 30,000%.
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