The bear market of 2022 caused several investors to rethink the future of crypto investments. But with the dawn of the new year came hope for a new bullish future. Although there are clouds of uncertainty, investors are quite optimistic, which can be seen in the liquidity. Also, Web 3.0, gaming, DeFi, and NFTs are generating a buzz, and cryptos are ready to begin a new rally in 2023. Since we are on the brink of a major bullish run, these are 5 cryptos to buy before they rally again to record highs this year.
Ethereum (ETH)
Ethereum seems like it is all set to bounce back in 2023. The crypto enjoyed an impressive rally throughout the first half of January, recouping most of the losses of the FTX fallout. Trading at $1,693.92, ETH is the best buy before they rally again. There are many reasons to be bullish about this crypto this year, especially because it is the driving force of Web3 innovation. The crypto’s utility, flexibility, advanced technology, and developer friendliness have made it one of the most promising crypto investments.
Furthermore, with the successful launch of the Merge update, Ethereum has become a more environmentally friendly alternative to Bitcoin. The transition to the Proof-of-Stake method last September reduced Ethereum's energy consumption by about 99.95%. This has also made the network more scalable and supports the development of more tokens, apps, and services.
However, a key growth driver for its price this year is its Shanghai upgrade scheduled in March. This would open up withdrawals of more than 16.5 million ETH staked in the blockchain. Experts believe that ETH has a real chance of ending 2023 with a new all-time high, as Shanghai would change the supply and demand of the crypto both in the short and long term, significantly impacting the token’s price, making ETH a good buy now.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Secret (SCRT)
The Secret crypto touts to be one of the top privacy-preserving smart contract networks. SCRT, the data privacy platform for Web 3.0, is one of the top cryptos to buy before they rally again. It is a decentralized blockchain protocol that supports smart contract programmability and advanced DeFi features.
Unlike other networks, Secret employs a combination of proprietary technology and a unique business model and strives to empower artists, entrepreneurs, developers, and crypto users. The DeFi applications of the Secret network are cross-chain, interoperable, private by default, and utilize low fees.
The crypto came into the limelight earlier with its partnership with Quentin Tarantino and sold its first Pulp Fiction NFT for $1.1 million. This groundbreaking NFT sale demonstrated the user’s interest in joining the Secret ecosystem. With Web 3.0 slowly becoming a reality, SCRT would rally to new levels soon.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Nano (XNO)
Nano is often described as “what Bitcoin should have been,” as it aims to decentralize the ownership of on-chain assets without the need for mining rewards. Each Nano account has its blockchain with a separate block of its own for each transaction. The result of this design is near-instant transactions with zero fees, along with all the usual benefits of security, transparency, and decentralization.
With its low-latency payment platform that requires minimal resources, Nano aims to serve as a viable replacement for fiat currency. The launch of an updated website and a new corporate identity has placed XNO as one of the cryptos with great potential to change how we interact.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
The performance of XRP has been affected by several incidents and factors over the past few years. With a hope for a new bullish rally, experts believe XRP to be a crypto to buy before it could rally higher again.
Ripple, with its open-source distributed payment network, helps every user break free from traditional financial facilities. It facilitates the fast exchange of cross-border payments, eliminating the potential for processing transactions that would normally take days on mainstream financial institutions. XRP is already adopted by hundreds of financial institutions and banks. Several countries are considering building central bank digital currencies (CBDCs) on the Ripple network. This would benefit the XRP price significantly to rise again in 2023.
One of the main resistance to the XRP price over the years was the Ripple-SEC lawsuit. And the growth of XRP in the 2023 crypto market would be greatly influenced by the results of this legal suit. Although there is a looming cloud of uncertainties around a possible spike, Ripple CEO Brad Garlinghouse’s declaration that the dispute will be finalized shortly, and his confidence in securing a favorable outcome makes XRP the best crypto to buy now before it rallies again.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Nervos Network (CKB)
CKB, the native token of the Nervos Network, is showing a bullish trend in 2023, and the reason could be the rising adoption of the crypto network. The network has a wide variety of utilities that will help it grow tremendously in the future, increasing the demand for the token. CKB fuels the entire ecosystem and has use cases like acting as a store of value, executing smart contracts, and working as a medium to increase the network’s security.
This multi-asset blockchain ecosystem has an innovative dual-layer architecture that enhances scalability and interoperability. The protocol allows developers to build universal applications and operate them on various blockchain ecosystems. The crypto is a good buy now, trading at $0.005200 before the price rallies again to new levels.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
The potential of cryptos and their underlying technology is massive, as their real-world utility is increasing dramatically. The current market scenario presents the right opportunity for investors to buy these 5 cryptos before they rally again to new highs.
Read More: