Cryptocurrencies have been beating other asset classes in gains over the past decade. That’s despite the heavy volatility that is a major characteristic of this market. For instance, the market started 2023 in the red, and the bear trend persists. However, since the bulls will come back, investors are actively seeking the best cryptocurrencies to invest in for 2023.
Many investors are searching for the best cryptocurrencies to invest in for 2023, and there are actually a number of strong candidates could deliver extraordinary gains, below are top seven cryptocurrencies that we believe could be great options in 2023.
Ethereum
Ethereum is the second-largest cryptocurrency by market capitalization. Ether currently has a market cap of 330 billion. Ethereum has seen huge adoption in DeFi and has the highest total value locked in DeFi with 8.4 million of Ether locked.
Ethereum has had a pretty good price run since it launched, with an ROI of 97,647%. While Ethereum has taken a hit from its all-time highs of $4800 in November 2021, a lot is happening in its ecosystem. For instance, adoption is growing, and once Ethereum 2.0 is fully up and running, Ethereum could see its share of decentralized applications grow.
With its strong market position and potential for adoption, Ethereum is easily one of the 7 cryptocurrencies that could be great investments in 2023.
Read Also: Ethereum Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Terra
Terra is a platform blockchain that powers payments with stablecoins that leverage the censorship resistance of blockchain technology. Terra has seen massive adoption since it launched in July 2019.
Since it launched, Terra Luna has given investors an ROI of 2996.71%. Terra currently has a market cap of $21.1 billion and ranks 9th by market cap.
Terra has seen widespread adoption, especially in the launch of algorithmic stable coins. Growth has been so exponential that as of December 2021, Terra was the second-largest DeFi chain after Ethereum, beating the likes of Binance Smart Chain and Solana.
While it has taken a hit in the 2023 crypto bear market, Terra adoption remains strong. This makes it one of the 7 cryptocurrencies that could be great investments in 2023.
Check Out: Terra Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Avalanche
Avalanche is the 12th largest cryptocurrency by market capitalization, with a market capitalization of $17.8 billion.
Avalanche has experienced rapid value growth since it launched in September 2020. Its ROI since launch stands at 14,425.18%.
Avalanche’s growth has a lot to do with its capabilities as a platform blockchain. Avalanche prides itself on its fast transaction speed, as high as 4500 TPS, and low transaction costs.
Essentially, Avalanche solves the twin problems of scalability and fees that have become a huge issue in the platform blockchain space. Avalanche has also been pretty stable since it launched, a factor that adds to its credibility.
With demand for fast, low-cost platform blockchains on the rise, Avalanche is without a doubt one of the 7 cryptocurrencies that could be great investments in 2023.
Read More: Avalanche Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cosmos
Cosmos grew in popularity over the past year as more investors began to understand the power of its tech.
Cosmos describes itself as a project that tackles complex issues that hinder the growth of blockchain technology. Some of the problems that Cosmos solves include scalability and the complexity of developing Dapps.
Like other blockchains solving a real problem in blockchain, Cosmos has experienced tremendous value growth since it launched. From its all-time lows of $1.13 back in March 2020, Cosmos is up by 2424.92%.
While Cosmos, like the rest of the cryptocurrency market, started 2023 in a bear market, its value proposition makes it a potentially big winner once the market turns bullish again. That’s why it can’t miss among the 7 cryptocurrencies that could be great investments in 2023.
Don't Miss: Cosmos Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Fantom
Launched in December 2019, Fantom is also one of the best performing cryptocurrencies so far, with an ROI of 14,225% since it launched.
Fantom’s rise has a lot to do with its value proposition. Fantom uses DAG technology to solve the problem of speed and transaction fees in the execution of smart contracts. It also stands out for compatibility with the Ethereum Virtual Machine.
With decentralization applications growing in adoption in finance and other sectors, Fantom is likely to grow in adoption due to its efficiency. It’s undoubtedly one of the 7 cryptocurrencies that could be great investments in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Sandbox
The Sandbox project is pretty old, dating back to 2014. However, the SAND cryptocurrency was launched in 2020.
SAND has had an impressive run since it launched, giving investors an ROI of 47,643%.
Sandbox has grown in popularity because it combines DAOs and NFTs. Through this combination, a thriving ecosystem of play-to-earn games has grown in the Sandbox virtual world.
With play-to-earn gaming growing in importance, the Sandbox virtual world stands to record even more growth in 2023. This makes SAND one of the best cryptocurrencies that could be great investments in 2023.
Read Also: Sandbox Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Decentraland
Decentraland returns have been pretty impressive since the time it went live. Back in 2017, virtual lands on Decentraland were going for an average of $20, while MANA tokens were trading for as low as $0.02.
Today, virtual lands on Decentraland go for an average of $15k. The value of MANA has risen quite exponentially, too, hitting a high of $5.90 in November 2021. MANA’s ROI from launch to date is 10,384%.
At the moment, there is a lot of hype around the Metaverse. Major corporations such as Samsung are also launching virtual products on Decentraland, and virtual land prices are soaring. This puts Decentraland at the center of the fast-growing Metaverse ecosystem. This also makes it one of the 7 best cryptocurrencies that could be great investments in 2023.
Check Out: Decentraland Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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