3 Cryptocurrencies That Could Do A 5x Increase Before Q2 In 2023: Litecoin, Chainlink, And Celo

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Last Updated January 16th 2023
6 Min Read

3 Cryptocurrencies That Could Do A 5x Increase Before Q2 In 2023 -Our Picks

Litecoin (LTC) - one of the most valuable cryptos

Chainlink (LINK) - one of the best crypto that could explode in 2023

Celo (CELO) - one of the best investment for 2023

 

A Closer Look At The 3 Cryptocurrencies That Could Do A 5x Increase Before Q2 In 2023

Cryptocurrencies can be very volatile. That’s also the reason many people love them. New cryptocurrencies, in particular, can bring multifold returns to investors in a short time. In this article, we take you through the 3 cryptocurrencies that could do a 5x increase before Q2 in 2023.

 

Litecoin (LTC) 

Litecoin is one of the most valuable cryptos in the industry and a prime candidate to buy on the dip. It was created through a fork in the Bitcoin blockchain and is one of the oldest cryptos in the market. Unfortunately, after recording notable gains, it has stumbled quite a bit this year. Recently, though, LTC has shown signs of a rebound, which indicates a reversal of its fortunes.

Litecoin was one of the earliest cryptocurrencies to enter the market. Consequently, it remains one of the largest coins in the sector by market capitalization. Users can find this popular coin on nearly every crypto exchange. Also, it is one of the most widely accepted cryptocurrencies in the world. You can use LTC to purchase goods and services or even invest in other crypto projects as they emerge.

Many traders view Litecoin as a more sustainable option within the market. Their views are not without reason. For one, it often experiences less volatility than Bitcoin. Also, the development team behind this project is a bit more advantageous than Bitcoin. Specifically, the developers have proven their desire to remain technologically ahead of the competition time and time again.

Just like Bitcoin (BTC), Litecoin (LTC) uses the proof-of-work consensus mechanism. For this reason, new tokens come into circulation through mining, and miners are rewarded with newly minted coins for their efforts. With Litecoin, every 2,5 minutes, a new block comes into existence, four times faster than with Bitcoin (BTC), which has a block time of 10 minutes. 

For every 840,000 blocks, the so-called block reward halves. 

Approximately every four years, a halving takes place, slashing the block rewards in half. It is expected that the next Litecoin halving will happen in July 2023 and that its rewards will be cut from 12,5 LTC to 6,25 LTC per block. 

As a result, the price per Litecoin will most likely increase drastically in value. Savvy investors are already adding more Litecoin (LTC) to their cryptocurrency holdings, on-chain analytics shows. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Chainlink (LINK) 

Chainlink is a decentralized oracle network that provides a reliable connection between real-world data and blockchain-based applications. With this, business applications and smart contracts can interact with many data sources – from web APIs to traditional banking systems. What makes this crypto particularly appealing is that it offers a secure and trusted offline data connection that meets the needs of large and smaller companies.

Chainlink recently conducted its first-ever token draw from its staking pool, with a total of 24.27 million tokens worth around $170 million being distributed. The Chainlink team announced on Twitter that the community staking pool had reached its maximum capacity of 22.5 million tokens, filling up within days. The community allotment was fully subscribed within just two days. While community allotment has been filled, node operators can still participate in the staking process, as the overall staking pool is capped at 25 million tokens. Node operators have around 730,000 remaining tickets that they can still stake.

When looking for the best crypto to buy in 2023, it’s important for investors to do the research and understand the risks and rewards associated with investing in cryptocurrency. With the continuing evolution of cryptocurrency and the abundance of available investment opportunities, it is possible for LINK to excel in this rapidly growing market. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Celo (CELO)

The Celo project is optimized explicitly for mobiles and allows users to pay gas fees instantly on the application. The purported goal of the project is to crack the mobile phone industry and thereby promote the adoption of cryptocurrencies to a broader audience. As a result, CELO had a positive rally in 2021, and now investors are curious whether it is a good investment for 2023. 

Celo blockchain stands apart from its competitors because users’ wallet addresses, where one’s crypto is stored, are tied to their mobile phone numbers. Therefore, anyone with a smartphone can send, receive, and transact with the crypto seamlessly in a user-friendly manner. Celo aims to make crypto payments easy for everyone with a mobile device. Anyone can send and receive crypto by using their phone numbers as public keys. Its goal is to provide utility to the marginalized regions where most people do not have access to conventional banking services. 

Thanks to Celo, smartphone users can now access several aspects of decentralized finance through its array of smart contracts and decentralized applications. In addition, the platform users can also utilize cryptocurrency to make governance decisions through voting. 

With its efficient and robust catalog of decentralized applications, Celo aims to provide much-needed financial services to both the banked and the unbanked. Its advanced smart contract capabilities make room for more DeFi projects and dApps to be built on the Celo platform. Moreover, in the future, the platform also has plans to host different stablecoins, with the Celo Dollar (CUSD), which is already in use. Along with offering faster transaction settlement time, the Celo token is also highly sustainable, making it a good buy for environmentally conscious investors. 

With an address-based encryption scheme and a stable-value asset, Celo has successfully addressed two of the biggest barriers to the large-scale adoption of cryptocurrencies - the difficulty level of its use and purchasing-power volatility. These factors make CELO one of the 3 cryptocurrencies to surge 5x before Q2 2023.

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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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