5 Cryptocurrencies That Will Overtake Bitcoin And Ethereum In 2023 - Our Picks
Want to know why these 5 cryptocurrencies will overtake Bitcoin and Ethereum in 2023? Then continue reading.
Cardano - The crypto built for the future
Avalanche - One of the best DeFi coins to buy now
Ripple - A crypto with massive upward potential
Solana - A must-buy crypto with plenty of room for growth
Dogecoin - The best meme coin with enhanced use cases
A Closer Look At The 5 Cryptocurrencies That Will Overtake Bitcoin And Ethereum In 2023
Cryptocurrencies like Bitcoin and Ethereum have been the go-to choice for investments over the years. But recent moves by the U.S Federal Reserve to raise interest rates and economic instability worldwide have been a striking knock-off for several cryptos, including BTC and ETH.
Fortunately, numerous other cryptocurrencies have the potential to overtake Bitcoin and Ethereum in 2023 and could be the best addition to your diverse portfolio.
Cardano (ADA)
Cardano was created to become a fully decentralized, open-source, and transparent blockchain. As a result, the crypto has the power to overtake Ethereum with a flexible, sustainable, and scalable blockchain for running smart contracts.
A unique factor that makes it stand out from the crowd is the goal of solving real-world problems with its blockchain technology. By targeting crypto adoption on the Continent of Africa, Cardano aims to stick to its mission of providing financial opportunities to the unbanked. The use cases that ADA focuses on deploying in Africa are in the domains of usability, identity, accessibility, and interoperability. It has also launched an accelerator program called the Adaverse, which aims to offer resources to support promising African startups that build socially impactful Web3 solutions on Cardano's blockchain. These reasons make it meaningful and compelling enough to invest in ADA for profitable returns in the future.
On top of that, after the successful launch of the Vasil hard fork, Hydra’s attempt to make Cardano the fastest blockchain network in the world is also on the path to success now. Hydra would enhance scalability by introducing off-chain transactions, eventually boosting its adoption rate.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Avalanche (AVAX)
Avalanche is a decentralized, open-source, Proof-of-Stake blockchain with a cutting-edge network that supports the rollout of dApps and enterprise blockchain solutions in a safe and dependable environment. Touted as the fastest smart contracts platform in the entire blockchain industry in terms of time-to-finality, AVAX has been on investors’ radars since its inception.
Although the price of AVAX plumped down in the 2022 market crash, it is one of the cryptos that have the potential to overtake Bitcoin and Ethereum in 2023. Avalanche was developed from scratch to become a safe and efficient payment system, setting itself apart from other cryptos with no clear-cut practical use cases.
KyberSwap partnered with Avalanche one year ago and is hosting Phase 3 of Avalanche Rush, bringing Avalanche liquidity providers up to $2 million in reward incentives. This will significantly enhance liquidity on the Avalanche network, making AVAX the best crypto even for a passive income.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
Ripple is a money transfer and currency exchange network that facilitates cross-border transactions. It aims to replace SWIFT, the traditional method of sending money internationally. XRP’s low fees, speed, and fast settlement have made it one of the favorite options for financial institutions and banks worldwide. Hundreds of financial organizations and banks have adopted XRP, and the rate keeps increasing.
XRP is one of the cryptos that would overtake Bitcoin and Ethereum in 2023 because even amidst the market crash and a lawsuit in process, Ripple managed to continue its network developments and expansion. Its ODL or On-Demand-Liquidity service opened a way for customers to move money around the world without the need for correspondent banking relationships. RippleNet has expanded its ODL services to countries like Africa, Sweden, and France with respective partnerships.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
Solana is a public and open-source blockchain and a flexible platform for running decentralized applications. The crypto employs a unique consensus known as the Proof-of-History that eliminates the need for timestamps in the block data of the blockchain. This will eventually free up storage space and increase throughput, allowing the network to handle over 50,000 transactions per second (TPS).
SOL has huge potential when it comes to adoption in the real world. Its incredible speed and low transaction fees make it a viable alternative to the lucrative payments industry. One of Solana’s latest features, Solana Pay, lets consumers use their phones and a QR code to check out with merchants, with instant settlement and access to their funds.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dogecoin (DOGE)
Dogecoin has had a poor run since the beginning of 2022 due to the overarching bear in the market. But the price of DOGE is slowly recovering, and the significant spike in its hashrate recently proves its growth. A key catalyst for the growth in the hashrate was the rife speculations about DOGE being integrated into the Social media platform Twitter after Elon Musk’s acquisition.
Another reason why DOGE would overtake BTC and ETH in 2023 is its continuous network developments and addition of use cases. Despite the crypto winter of 2022, the developers of the meme coin managed to work on two major releases, three core updates 1.14.7 and 1.21. These two updates will set a foundation for Dogecoin’s future, according to the developers making DOGE the best buy now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
The best way to smart investment is by doing due diligence and keeping track of the market. If you are looking for the best additions to your portfolio, these 5 cryptos would be an ideal choice, as they can overtake Bitcoin and Ethereum in 2023.
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