After a while, the cryptocurrency market has finally regained its pulse. The crypto market cap has slightly skyrocketed around 25% and has regained its $1 trillion mark. The bull run of 2023 is a mark of greater things to come in the crypto sphere because, with greater adoption by institutions, countries, and investors, crypto would soon become a part of the mainstream.
Therefore, this is the right time to bag in some of the potential cryptos for generating profitable returns. Here are the 4 cryptos to buy as a new bull market emerges in 2023.
Solana (SOL)
After a major price correction, Solana is back with a bang in 2023, with the SOL price showing a sharp surge. This next-generation blockchain platform aims to revolutionize the crypto world with its innovative Proof-of-History mechanism. Its fast transaction speed, low latency, scalability, and cost-effectiveness make the network an ideal choice for developers looking for high-traffic solutions. It also offers an optimal user experience for decentralized applications, offering developers a way to build dApps that are fast and user-friendly.
Solana is one of the best cryptos to buy, as a new bull market is emerging, and it could price investors with massive returns. One reason for the bullish prediction of SOL is the continuous rise of development activities on the network.
The team has shared the plans for 2023 and beyond at its four-day conference, the Solana breakpoint. They also revealed the upcoming release of “Saga,” the Web 3.0 smartphone. The phone has an in-built Solflare crypto wallet that can sync to multiple decentralized applications.
The rapid growth of DeFi and NFTs, the expansion of the Solana ecosystem, and the rising adoption of SOL make it one of the best cryptos to buy before the new bull market emerges.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Decentraland (MANA)
Decentralized is the world’s first-ever metaverse built on the Ethereum blockchain. This virtual reality platform allows users to customize their game characters' appearances, explore, create, trade businesses, and even buy real estate property, all while earning an income. The project thus represents a major step ahead in the user-generated content (UGC) arena.
MANA, the native token of the platform, is used to make transactions within the marketplace. Although MANA token price has seen a drastic plunge in the 2022 market crash, Decentraland managed to gain investor and user attention through launches like the Metaverse music festival, the Metaverse fashion week, bringing together mainstream brands and digital upstarts, and many more, keeping the network in the limelight.
MANA is the best buy now as a bull market is around the corner, and the team has declared 2023 as the year of creators. Decentraland would continue working on its features that will enhance user experience. By improving the platform’s performance, it would become more fun and easier to use, attracting new users. Also, special focus would be given to creators by providing advanced tools and allowing them to express their creativity on the platform.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Neo (NEO)
NEO, the next generation of blockchain, is a smart economy platform. The crypto has experienced explosive growth since its inception. The proposed goal of the network is to create its own digital identity by garnering the attention of developers to build decentralized applications on the platform.
NEO is the most popularly acknowledged, first-open source blockchain platform in China, often touted as the ‘Chinese Ethereum.’ The crypto marked its position as one of the best blockchain projects, despite China’s regulation and government limits. This makes NEO an ideal cryptocurrency of choice in the severely restricted country.
The crypto also ensures faster and near-instantaneous transactions, thanks to its Proof-of-Stake consensus mechanism combined with the unique delegated Byzantine Fault Tolerance. Its unique features to optimize and smooth smart contract operation and dApp creation make it an ideal choice for developers. However, with more developments in its network, the price of NEO could again spike a rally in the new bull run in 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Another crypto to buy as a new bull market emerges in 2023 is Cardano. It is a blockchain platform that aims to become the ‘internet of blockchains.’
The bullish stand on ADA in 2023 can be attributed to the network’s increased network development activities, as the crypto has attained several monumental milestones in 2022 and even at the beginning of 2023. The launch of its much-awaited Vasil hard fork is one of the notable updates in 2022. It has enhanced the performance and scalability of the network, paving the way for more adoption.
One of the key reasons to buy ADA now is its plans to expand its use cases within the DeFi sector. The launch of its overcollateralized stablecoin, DJED, on the Cardano blockchain as a means for new DeFi and payment opportunities is a stepping stone toward its plans.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
The market is slowly recovering, and this is the best time to invest in cryptocurrencies with massive upside potential. Considering development activities, updates, growth, and token prices, these are 4 of the best cryptos to buy as a new bull market emerges in 2023.