The crypto market is starting to bloom again after the 2022 market crash, and it is full of potential options for investors. There are hundreds of promising alternatives to the dominant choices of Bitcoin and Ethereum in the market today.
Altcoins with 10x potential refer to those assets that can grow ten times higher than their current value. We have listed below the top 5 altcoins with 10x potential to grow in 2023 for generating good profits. Let's see why these are the best.
Solana (SOL)
Solana has secured its name as the fastest blockchain network in terms of transaction speed and success rates compared to its rivals. Its low cost and high speed make it one of the ideal choices for decentralized applications (dApps), non-fungible token (NFT) collectors, and traders.
Unlike other cryptos, Solana employs a novel combination of technologies to attain its high speed and capability. It employs a Proof-of-Stake (PoS) consensus mechanism, a transaction processing system called Tower BFT, and a parallel processing system called Gulf Stream.
SOL is one of the top altcoins with 10x potential in 2023, as it has several key catalysts fueling its price. For instance, its impressive active user base is growing at a dramatic pace. The crypto has also received strong support and funding from the industry giants like Alameda Research and Jump Trading.
RobotEra (TARO)
RobotEra is one of the most popular metaverse cryptos that has been in the limelight lately. With increasing attention from investors and gamers, TARO is projected to grow up to 10x this year. Token holders can engage within the RobotEra metaverse, have fun engaging in various activities, and at the same time, earn profits in multiple ways. This profitable play-to-earn game allows users to complete tasks and be rewarded for them.
RobotEra has been selling at a significantly high speed since day one, and the interest in the token is not diminishing but increasing. TARO is one of the best altcoins to make a passive income as it also allows holders to stake the tokens, mine, sell NFTs, and sell advertising space on bulletin boards or structures within the game.
Yearn.finance (YFI)
Yearn Finance is one of the top DeFi tokens that brought the decentralized finance space into the mainstream. After a rather quiet rally, YFI is gaining some strength and could be added to the list of top 5 altcoins with 10x potential.
YFI is the fastest-growing DeFi project to date and boasts a whopping $800 million in assets in the first month of its operation. Users can simply earn YFI tokens by staking them in Yearn.finance contracts on the Balancer and Curve DeFi exchanges.
However, YFI has managed to fend off the bearish market forces in 2023, and the main reason for this is its recent announcement of the move into liquid staking derivatives. According to developers, the forthcoming token will give users wider exposure to a basket of ether liquid staking derivatives (LSD). This could certainly build up the optimism around its price rise in the coming years. Additionally, the new flow of capital into the DeFi space could drive YFI much higher in terms of demand, value, and price.
Shiba Inu (SHIB)
After experiencing an acute bearish trend in 2022, Shiba Inu is all set for its price upswing in 2023. SHIB, the most popular meme coin, offers the best entry point for amateur investors to the crypto and Web3 sphere.
Shiba Inu developers have always been a dedicated team offering its community something new and ensuring that holders are rewarded with good returns. The launch of its decentralized exchange called Shibaswap, which ignited the bullish run of 2021, and SHIB’s upcoming entry into the metaverse are instances of this.
The key catalyst that would fuel SHIB’s bull run this year is the launch of the beta version of the much anticipated Shibarium, the layer-2 blockchain solution of Shiba Inu. This has stirred optimism among its supporters and investors alike. It seems to be a promising year ahead for SHIB, making it the top altcoin with 10x potential, as the crypto aims to shift from a mere meme coin to a significant player within the DeFi sector with the release of Shibarium.
Fantom (FTM)
Fantom is a smart-contract-enabled blockchain network that processes up to 10,000 transactions per second (TPS) at less than $0.01 per transaction. There are numerous reasons why FTM is one of the top 5 altcoins with 10x potential. Starting with the appointment of its new board member, Andre Cronje, the prolific developer often called the “Godfather of DeFi.” He has taken multiple measures to boost the growth of the Fantom network. Thanks to his efforts, 2023 will be a year solely focused on decentralized apps for Fantom.
Additionally, with the recent passage of a governance proposal bringing gas monetization to successful dApps, investors are highly bullish about FTM. This measure would allow dApps to share revenue based on the gas used in transactions. On top of this, the platform has plans to introduce gas subsidies, allowing dApps to interact by eliminating the need for users to pay gas fees themselves.
Fantom never ceased to garner the attention of investors since its inception. Recently, the billionaire investor and founder of HyperChain Capital, Stelian Balta, added another $15 million to FTM. This was followed by a partnership with Carrier, a powerful cross-chain bridge for Web3 natives to bridge tokens, and NFTs, on a superior Web3 UX with advanced features.
The Bottomline
These five digital assets have established themselves as some of the best altcoins with 10x potential in 2023. Each of these assets is poised to grow dramatically, despite market forces or other macroeconomic conditions.