Despite the volatility, several crypto investors are staying on the lookout for the next big cryptocurrency, in other words, the next Bitcoin contender. Well, even though it might be quite hard to intercept the next cryptos to invest in, several contenders have certainly made their position in the market amid this tumultuous state of the market. Here are the top 5 cryptocurrencies with the potential to become the next crypto king in 2023.
Decentraland (MANA)
Decentraland is a virtual reality game on the Ethereum blockchain that uses the MANA token as an in-game currency. Users can purchase goods and services, buy land, visit other players, and create and monetize their own content.
MANA, the native token of Decentraland, is one of the largest gaming cryptocurrencies. Although it has competition from The Sandbox and ApeCoin, and in-game assets are quite expensive (land parcels recently listed on Blockee start at about $3,000), it has some benefits that could push the token forward. For example, users retain ownership of the digital assets they create in Decentraland and can convert them to cryptocurrencies other than MANA.
If the Decentraland metaverse needed a legitimacy boost, it got one in May, when Millennium Hotels and Resorts launched M Social on the platform. According to a press release, this is the first metaverse hotel operated by a hospitality group. Decentraland has also signed a deal to integrate the upcoming film “The Infinite Machine” and its NFT collection into its metaverse, Variety reported. These factors make MANA one of the top 5 cryptocurrencies with the potential to become the next crypto king in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Cardano is a third-gen crypto platform launched by Ethereum co-founder Charles Hoskinson/ Hoskinson wanted to allow venture capital investment and to turn blockchain technology into something larger corporations could get involved in.
The result was Cardano and its ADA token. In addition, the project is famous for being the first to implement a rigorous peer-review process on updates, rooting Cardano in strong academic foundations. The project’s main advantage is energy efficiency, as its Ouroboros proof-of-stake (PoS) algorithm is very efficient.
Cardano has opened its architecture up this year for dApp creation, and the upcoming Vasil hard fork should amp up its scalability. All these reasons make the current ADA price of $0.56 an attractive buy right now.
ADA is listed on several exchanges. It has high liquidity. It lost a huge portion of its shares following the fall of cryptocurrency prices. This means that it can reclaim its previous high prices and give investors huge returns.
The crypto winter has turned ADA into the best long-term cryptocurrency investment and one of the top 5 cryptocurrencies with the potential to become the next crypto king in 2023.
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 relatively new layer one blockchain — a blockchain that improves the base protocol to make the system more scalable, as Binance described it. It was founded as an Ethereum competitor by Ava Labs and computer scientists at Cornell University.
Whereas Ethereum’s nodes must all validate each transaction, Avalanche’s three individual blockchains can validate transactions independently. This makes Avalanche more scalable and able to handle large volumes of transactions — up to 6,500 per second. As a result, it is increasingly popular among Ethereum projects.
Avalanche's native coin AVAX is currently trading at $28.6, a good price point for investors looking to become a part of the growing Avalanche ecosystem.
Crypto asset 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 more unlikely crypto success stories – it is based on the Doge meme and built upon the hype of Dogecoin.
But it also broke ground to become one of the first truly decentralized forms of money after its anonymous creator – Ryoshi – stepped back from running the project. The crypto came to prominence last April after Vitalik Buterin burned 42% of the total supply and donated thousands of dollars worth of Shiba Inu to an India COVID-19 relief fund.
Its current price is $0.000016, which is one of the lowest price points in over six months, making now a great time to stock up on SHIB in anticipation of further price increases in 2022.
Shiba Inu enjoys an incredibly loyal following, with widespread merchant adoption and countless projects all working to boost its adoption and burn SHIB tokens. In addition, Google Trends data revealed that Shiba Inu had seen more Internet searches than Bitcoin last year. These factors make SHIB one of the top 5 cryptocurrencies with the potential to become the next crypto king in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Filecoin (FIL)
Filecoin is a decentralized peer-to-peer storage network where users can earn the platform’s token by renting out space on their computers’ hard drives. One of the main benefits of Filecoin is that it can store digital assets, such as art or music, behind non-fungible tokens.
Anyone can be a storage provider in Filecoin’s network, whether you are an individual or a data center. All you need is internet access and enough disk space. The more storage you provide to the Filecoin network, the more transaction fees and tokens you can earn.
Experts have predicted a bright future for FIL's growth, making now a good time to invest.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bottomline
Timing is everything in investments. We believe this is the best time to invest in these cryptocurrencies that have the potential to become the next crypto king, as they are still affordably priced. However, do your own research and risk analysis before investing.
Read More:
How To Buy Decentraland (MANA)
The 5 Best Ways To Buy Avalanche (AVAX)
Best Future Crypto Coins To Buy
Best Long-Term Crypto Investments
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Best 10 New Cryptocurrencies To Buy
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