Cryptocurrencies, in recent years, have gained enormous popularity. It is hard to find someone who has not heard of digital currencies at least once in their life. The year 2023 will be promising for further growth in the price of various cryptocurrencies. The crypto market is developing rapidly, its capitalization has already exceeded $2.2 trillion. The world’s largest investment funds are actively investing in various crypto-assets. These figures make it clear that the industry is on the rise. You can find the best cryptocurrency projects at https://chainbroker.io/funds/.
In today’s article, we will look at what crypto-assets are worth the investment in 2023.
Ethereum
Ethereum’s transition to Ethereum 2.0 has generated a lot of interest among many crypto investors. After the crypto market stabilizes, Ethereum may reach new highs, which could happen in the near future. The Devconnect event to be held in April 2023 is one aspect that could trigger a new cycle of excitement around Ethereum.
Compared to Bitcoin, Ethereum lacks a scarcity model (Bitcoin’s supply is limited to 21 million coins) and broad support from businesses and governments. Unlike Bitcoin, Ethereum is more than just a repository for money. It is also a platform on which applications can be developed.
Solana
It is a groundbreaking blockchain whose prospects for development are largely clear, with speeds of up to 50,000 transactions per second and an ever-growing ecosystem of initiatives.
Solana’s future looks bright, thanks to the support of well-known crypto-makers. Solana was first introduced in 2020. At the time, the price of SOL started at $0.77. By February 1, 2020, its price was around $100, meaning the cryptocurrency has increased in value by about 13,000% in two years. Given the growing need for alternatives to Ethereum, Solana could establish itself in that role this year. This could lead to an even greater rise in the price of this cryptocurrency in the near future. We can definitely say that Solana is a promising cryptocurrency.
Vechain
Vechain is one cryptocurrency with a rapidly expanding feature set. Supply chain management is one use case that is expected to increase its value. It has already been used in the fashion industry, and the number of people utilizing it is only growing.
The project is being developed by an experienced team with many key partners. The value of VET will increase as adoption expands. VET could be the next promising cryptocurrency in the coming years.
Decentraland
Decentraland is a meta world that brings together content providers and consumers. Although the project’s token grew significantly in 2023, the ongoing excitement of the meta-universe could help the project expand even more in the future. Decentraland sold some virtual real estate, valued at more than $2.4 million. It is the most attractive asset because of factors such as:
- low volatility;
- active participation of the development team in the marketing of the virtual world;
- players’ interest in the economic features of the game.
Because it is one of the most prominent meta-universe initiatives on the market, MANA’s value could rise sharply over 2023.
Cardano
Cardano is a decentralized platform that has been in development since 2017. It has made significant progress. Behind the initiative are three major research firms in cryptography, engineering, and blockchain technology. These characteristics make the coin attractive for both short-term and long-term investments. Cardano is known for its Ouroboros Proof-of-Stake algorithm, which solves a trilemma:
- security;
- decentralization;
- scalability in the blockchain.
The use of Cardano as a launchpad for DApps is likely to expand as its technical capabilities improve. We can confidently say that Cardano is a cryptocurrency with high potential. The World Economic Forum considers it one of the most scalable blockchains.
Hedera
Hedera is a public network for developing decentralized applications (Dapps). It was created to solve some of the problems that older cryptocurrencies such as Bitcoin and Ethereum have. Hedera deals with the following problems:
- poor speeds;
- instability;
- excessive fees.
In addition to its outstanding functionality, Hedera is controlled by some of the world’s largest firms, which increases investor confidence in it. These factors are expected to drive adoption, making HBAR the next cryptocurrency to start growing in 2023.
Axie Infinity
Axie Infinity is a Metaworld coin that has risen sharply in value over the past year. This is primarily due to games in which you can earn money. It allows gamers to create avatars and then monetize them as NFTs. AXS could be the next promising cryptocurrency to explode in 2023.
The usefulness of the token in the game is one of the features that make Axie Infinity an attractive investment. Currently, there are about 2.8 million daily players in the game, and AXS transactions are worth $3.6 billion. The value of the AXS coin could rise with these numbers.
Polkadot
Cryptocurrency is evolving at a tremendous rate, but one of the biggest obstacles to development is interoperability. It is the ability of blockchains to interact and connect with each other, a problem that Polkadot (DOT) is trying to solve.
Polkadot is a pioneering development led by Gavin Wood, a famous English computer scientist. In a nutshell, it is a platform that uses “para chains” to allow multiple chains of blocks to exchange information and transfer value to each other in a secure and seamless way.
The current market value of the project already exceeds $20 billion. Unlike other blockchain initiatives, the Polkadot network already has hundreds of active projects. Many of them are related to the fast-growing field of DeFi (decentralized finance).
To Sum Up
Analysts believe that 2023 will be a turning point in the history of cryptocurrencies. The number of people investing will undoubtedly increase.
The most promising coins that will grow in value will be Ethereum, Solana, Cardano, Polkadot, and others. Experts predict that in 2023, the government and numerous public and private institutions will be more interested in digital assets.
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The post Top 8 Promising Cryptocurrencies In 2023 appeared first on Social Media Magazine.
