The crypto market has been facing a bumpy ride of late, as most of the top-notch cryptocurrencies have lost more than half of their value in the past couple of weeks. This also includes cryptocurrencies like Bitcoin, Ethereum, and more.
Fear is the biggest factor that drives a bearish sentiment in the crypto market. After the Terra Luna crash and Bitcoin trading below US$20k, investors were startled. Few cryptocurrencies are barely hanging at the edge and might fail to survive in this massive bear market. But now, the cryptocurrency market is showing some signs of recovery. This article lists the top 10 Cryptocurrencies that will hit new highs in 2023 and beyond.
Ethereum is different from bitcoin. Recently, crypto broke its records, stabilizing its position in the market. Its network allows developers to create their cryptocurrency utilizing the ether network. Even though it was launched years after several other cryptocurrencies, it has far exceeded its place in the market because of its unique technology. It is one of the best cryptocurrencies that will start the bullish rally by year-end.
Cardano continues to remain one of the most popular cryptocurrencies due to its flexible network and fast transactions. Claims to be more friendly to the environment, than other currencies. Like company dividends on stock, it can justify stronger prices over time, as it has gathered real-world uses, from farm supply chains to fighting retail plagiarism. Scalability, sustainability, and interoperability are some of its chief selling points. The recent upgrade in the network has enabled the facility to build smart contracts on its network.
Dogecoin is the first meme cryptocurrency that started as a joke that trended on the internet a long time back. After keeping a position of safety for some since its commencement in 2013, Dogecoin showed potential in 2020 when it was acknowledged as a payment model among sports teams and entered the AMC theatres. In addition, enormous names like Elon Musk and Mark Cuban prefer Dogecoin over other cryptocurrencies. A single tweet from them could make the DOGE price go berserk.
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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 launched in November 2018 but has gained considerable popularity this year thanks to the Defi phenomenon and associated surge in token trading. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that of traditional exchanges.
The final entrant on the list is Shiba Inu. This meme-based cryptocurrency has overtaken its long-stood rival dogecoin in the past month with an 800% price gain. Although market experts are not sure about its fluctuations as SHIB was launched in 2020, its currency performance in the market has outperformed many top cryptocurrencies.
Solana matches up well with Ethereum 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 results in high gas fees. It has attracted many crypto investors due to its revolutionary qualities.
Binance coin, launched by one of the largest crypto exchanges in the world – in no time, has expanded from merely facilitating trades on Binance’s exchange platform to a platform where one can proceed with trading, payment processing, or even booking travel arrangements. What’s worth a mention is that there has been a significant increase in its value over years.
Polygon is the most popular and the most valuable layer-2 scaling solution for the Ethereum blockchain. We feature it among the top cryptos with the most potential because it is massively underutilized. Moreover, a growing number of off- and on-chain brands have already expressed interest in building on 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 of making 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 like 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 seeking scalability and compared to Ether, it ranks higher when it comes to charging low fees and offering fast speeds. Because of its top-ranking position and gradual rise in market value, DOT can stand as the market leader, and head the decentralized internet sector.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.