The crypto market has faced a bumpy ride lately, as most top-tier cryptocurrencies have lost more than half of their value in the past two weeks. This also includes cryptocurrencies such as Bitcoin, Ethereum, etc.
Fear is the main factor fueling bearish sentiment in the crypto market. After the Terra Luna crash and Bitcoin trading below US$20,000, investors were surprised. Few cryptocurrencies are barely hanging over the edge and may not survive in this massive bear market. But now the cryptocurrency market is showing signs of recovery. This article lists the top 10 cryptocurrencies that will reach new heights in 2023 and beyond.
Ethereum is different from bitcoin. Recently, the crypto broke its records, stabilizing its position in the market. Its network allows developers to create their cryptocurrency using the Ether network. Even though it was launched years after several other cryptocurrencies, it has far outgrown its place in the market due to its unique technology. It is one of the best cryptocurrencies that will start the bullish rally by the end of the year.
Cardano remains one of the most popular cryptocurrencies due to its flexible network and fast transactions. Claims to be more environmentally friendly than other currencies. Like corporate dividends on stocks, it may justify higher prices over time as it has gathered real-world uses, from agricultural supply chains to fighting retail plagiarism. Scalability, durability and interoperability are some of its main selling points. The recent network upgrade allowed the facility to create smart contracts on its network.
Dogecoin is the first meme cryptocurrency which started as an internet buzz joke a long time ago. After holding a position of safety for some since its debut in 2013, Dogecoin showed potential in 2020 when it was recognized as a payment model among sports teams and entered AMC halls. Moreover, huge names like Elon Musk and Mark Cuban prefer Dogecoin over other cryptocurrencies. A single tweet from them could drive the DOGE price crazy.
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Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (Defi) tokens. An example of an automated market maker (AMM), Uniswap was launched in November 2018 but gained popularity this year thanks to the Defi phenomenon and the associated rise in token trading. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving trading efficiency over traditional exchanges.
The last participant on the list is Shiba Inu. This meme-based cryptocurrency has overtaken its longtime rival dogecoin over the past month with an 800% price gain. Although market experts are unsure of its fluctuations when SHIB launched in 2020, its monetary performance in the market has surpassed many top cryptocurrencies.
Solana matches Ethereum well in two critical areas for development: speed and low transaction costs. Ethereum’s structure limits transactions per second to 15-30 on its network, creating the bottleneck that leads to high gas fees. It has attracted many crypto investors due to its game-changing qualities.
Binance coin, launched by one of the largest crypto exchanges in the world – in no time has gone from simply facilitating transactions on Binance’s exchange platform to a platform where one can do trading, payment processing or even travel booking. What is worth mentioning is that there has been a significant increase in its value over the years.
Polygon is the most popular and valuable layer 2 scaling solution for the Ethereum blockchain. We feature it among the top cryptos with the most potential as it is massively underutilized. Additionally, a growing number of off- and on-chain brands have already expressed interest in leveraging the platform.
Filecoin is like the filing cabinet for Web3. It is a decentralized storage network that serves as a secure alternative to centralized cloud storage and a passive way to earn money. Filecoin can be used to store almost any type of data, be it audio files, videos, still images or text. It also claims to be secure enough to store more sensitive information such as private company information and records.
Polkadot is one of the most popular cryptocurrencies in the global market, but investors might not know that it is a Web3 project. The network is known for striving for scalability and compared to Ether, it ranks higher when it comes to charging low fees and offering fast speeds. Due to its prominent position and gradually increasing market value, DOT can position itself as the market leader and lead the decentralized internet industry.
Disclaimer: The information provided in this article is solely the opinion of the author and not investment advice; they are provided for educational purposes only. By using this you agree that the information does not constitute investment or financial instructions. Do your own research and contact financial advisers before making any investment decisions.