5 Cryptocurrencies To Watch In 2023 - Our Picks
Here's a glimpse of the top 5 cryptocurrencies to watch in 2023. Find a detailed analysis of each coin in the coming section.
Bitcoin - The oldest and most popular crypto to buy now
Ethereum - The top smart-contract blockchain that ensures monster returns
Stellar - One of the best crypto to add to your watchlist
Algorand - The first carbon-neutral blockchain
Basic Attention Token - The best utility coin to buy now
A Closer Look At The Top 5 Cryptocurrencies To Watch In 2023
Cryptocurrencies and other blockchain-based projects have been widely adopted over the past decade. It has now become an integral part of the global financial ecosystem. Despite being speculative, cryptos are also highly lucrative investment options. Investors believe that the recent happenings in the crypto sphere have opened the best time to buy the dip. As prices are so low, this could be the best time to hunt your favorite cryptocurrencies. Since we are entering a new year, let’s see why these 5 cryptocurrencies are worth adding to your watchlist in 2023.
Bitcoin (BTC)
Bitcoin, the first cryptocurrency that started the legion, still has the largest market capitalization. It has moved far beyond a peer-to-peer version of electronic cash to a store of value and a significant hedge against inflation.
Along with features like high-end security and decentralization, one of the most notable traits of Bitcoin is halvings. Roughly every four years, the block reward is cut in half in the process called halving. This is the primary mechanism for new Bitcoins to be created but also slows the growth in the supply of new coins. Although 2022 was not a good year for BTC, investors are hopeful that the prices will rise again in the coming years.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Since its inception, Ethereum has consistently attracted developers and investors thanks to its advancement potential. Although the 2022 crypto crash drastically affected its price rally, the network saw the most momentous shift ever. In September, the project completed its much-awaited update called The Merge, which changed the system from Proof-of-Work to an energy-efficient Proof-of-Stake method. The update has also made the network highly scalable and efficient.
ETH is one of the top cryptocurrencies to watch in 2023, as it is expected to complete the process of Sharding by next year. This will supercharge the transaction speed, allowing over 100,000 transactions per second. It will also significantly cut down gas fees, making transactions much cheaper.
Ethereum’s swift network, with its recent merge and upcoming updates, has reassured the faith of users and investors in the crypto, which would eventually pave the way for a price rise. Moreover, as smart contracts become more significant, this crypto will continue to dominate the market as developers create innovative new products. Ethereum is sure to play a key role even in the upcoming Metaverse sphere, making ETH the best buy now while trading at a relatively low price of $1,196.42.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Stellar (XLM)
Stellar is one of the most promising cryptocurrencies to watch in 2023. It is much faster, cheaper, and highly energy-efficient than other blockchain-based systems. Its unique network architecture facilitates the convergence and collaboration of financial systems within a unified ecosystem. The network’s native token XLM can help in the transaction between individuals, banks, and payment processors. Over the years, the crypto has lined up high-profile partnerships with companies like IBM and Moneygram International.
Thanks to Stellar Community Fund, the crypto continues to support innovative projects from the broader Stellar ecosystem. It has supported a total of 415 projects and is investing almost $1 million in these early-stage projects. This helps it in expanding the range of use cases for its blockchain. With newer adoption, collaborations, and network developments, Stellar could make the most out of 2023, making it a worthwhile addition to your watchlist.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Algorand (ALGO)
Interoperability is a crucial factor for the growth and mass adoption of blockchain. Algorand is one of the best interoperable blockchain networks known for its ability to solve the blockchain trilemma. In addition, the network was designed to handle a large number of transactions quickly by overpowering the complexities of decentralization.
ALGO, the native currency of Algorand, powers the entire ecosystem and facilitates processes like fee payment, network administration, and user interaction. Sustainability has been a core feature of the Algorand network since its inception and has never experienced any downtime. Thanks to this, crypto is seeing increased adoption by institutions with a sole focus on sustainability, like PlanetWatch, GlobalCarbon Holding, ClimateTrade, and more. The green blockchain also came to the limelight with international partnerships, including the World Football Association.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Basic Attention Token (BAT)
Basic Attention Token is a unique and innovative project built to incentivize traders. Advertisers leverage the platform and place their adverts on it to increase their brands and products. BAT is used as a payment in the platform for running advertising campaigns and rewarding those that view and draw attention to these ads. It has ensured phenomenal returns in the past.
The Brave browser is almost similar to Google Chrome but continuously blocks ads from appearing on the web pages. BAT is one of the cryptocurrencies to watch in 2023, as the network would see increased adoption with the introduction of updates like posting comments and unlocking premium content.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
These 5 cryptocurrencies are worth watching in 2023 as they have succeeded in attracting the attention of both investors and developers. However, if you are looking for a plan for your investment portfolio, you can always begin with research.
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