These are 4 of the most lucrative cryptocurrencies to buy in 2023. For a detailed review of each coin, continue reading.
Bitcoin - Synonymous With Cryptocurrency
Ethereum - One of the strongest DeFi platforms
Dogecoin - Will the Twitter integration finally happen in 2023?
Shiba Inu - Making big steps in the metaverse
In 2022, crypto investors were completely caught off guard by an array of unfortunate events like the fallout of the largest crypto exchange FTX, and several macroeconomic conditions. But 2023 is showing good signs of a bullish trend ahead, and investors are trying to make the best of the previous year’s losses and have started rebuilding their portfolios. Thankfully, these 4 most lucrative cryptocurrencies have positioned themselves as a good buy in 2023.
Bitcoin (BTC)
Bitcoin, the blue-chip cryptocurrency, needs no introduction as this digital asset was the first to break down doors within the crypto sector. 2022 has adversely affected its prices, plunging significantly down and losing nearly 65% of its market value. But 2023 came with a positive sign as BTC price was able to cross its resistance of $16K in the mid of January and is trading at $21,788.08 as of writing.
There are several reasons for BTC to rally in 2023, and one of them is the U.S. Fed’s recent less aggressive rate hike, which helped BTC maintain its rising trajectory. The Bitcoin halving event is another reason it is one of the most lucrative cryptocurrencies to buy in 2023. Although it might sound like an esoteric blockchain event, it has real-world consequences for investors. This will significantly increase scarcity, leading it to steadily rise in price in 2023 before exploding in value, making BTC an ideal buy now. Additionally, the adoption rate is also high as Bitcoin ATMs become increasingly popular, and there are over 30,000 machines worldwide.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Ethereum is one of the most lucrative cryptocurrencies to buy in 2023 as it uses blockchain technology more innovatively. It is the leading blockchain within multiple niches; its smart contract abilities have the power to revolutionize several industries, it has enormous potential in the decentralized application space, and the network hosts multiple DeFi, NFT, and Metaverse projects.
Despite the market crash, 2022 was a big year for Ethereum, finally transitioning from its Proof-of-Work to Proof-of-Stake protocol and dramatically decreasing its energy usage. Another reason to buy ETH now is the rapid increase in its development activities. The long-awaited Shanghai upgrade is fast approaching and will be delivered soon in 2023. This would significantly increase the number of stakers and validators on the Ethereum platform.
Additionally, The Merge has paved the way for the release of Sharding on the network, which will supercharge transaction speeds on the network. It will push ETH transactions from 15 per second to roughly 100,000 per second.
The team is also working on another upgrade called the Surge, a protocol upgrade that will improve the chain scalability. These major upgrades would push the price of ETH to new highs, making it the most lucrative investment option now.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dogecoin (DOGE)
Dogecoin is a popular meme coin that has gained significant hype from the media and the crypto community. It has attained price gains through hype from influential personalities and celebrities like Elon Musk, Snoop Dogg, and Mark Cuban, pushing the DOGE prices to hit an all-time high of $0.7376 in the 2021 bull run.
Investors are bullish on Dogecoin in 2023, primarily because of its connections with Elon Musk and Twitter. Once Musk announces his plans for full crypto integration into Twitter, making DOGE the preferred payment option for Twitter users worldwide, its prices would spike high to almost $1.
Adding to this, DOGE investors are waiting for the Dogecoin-financed space mission to finally occur in 2023. Elon Musk announced earlier that his SpaceX company will launch a DOGE penny to the moon and tweeted, "Mission paid for in Doge. 1st crypto in space. 1st meme in space."
Since its inception, one key area that Dogecoin struggled significantly with was the lack of use cases. As a kickstart, the Dogecoin foundation has recently announced the creation of a new development fund for Dogecoin Core developers. The team has allocated 5 million DOGE, almost $360,000, to a new fund to support the development of the platform. Once the team introduces new use cases for the token, DOGE will be the most lucrative cryptocurrency to buy in 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Shiba Inu (SHIB)
Shiba Inu is one of the best investment options in 2023, and the reason is the launch of Shibarium. This exclusive layer 2 protocol will significantly increase the speed of the network, enhances scalability, and lowers transaction costs. Shibarium would further pave the way for the burning of trillions of SHIB tokens, leading to scarcity and pushing the price and demand of SHIB to new highs.
In addition to this, investors are also waiting for its entry into the metaverse, which will be built on Shibarium. All these bode well for the token, making SHIB a good buy in 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
The future of crypto is unpredictable, but it is the best investment option as long as investors are aware of the market condition and risks. A rebound is just around the corner, and these are 4 of the most lucrative cryptocurrencies to buy in 2023.