Four Alternative Cryptocurrencies With The Highest Potential For Growth In 2023

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Last Updated January 3rd 2023
5 Min Read

Four Alternative Cryptocurrencies With The Highest Potential For Growth In 2023 - Our Picks

APE - Tope NFT token to hold

BNB - One of the best cryptos of 2022

ATOM - An altcoin with a bright future

ALGO - Booming altcoin to buy and hold

 

A Closer Look at the Four Alternative Cryptocurrencies With The Highest Potential For Growth In 2023

Following the crypto crash in 2022, analysts predict that 2023 will see a bull market pushing a resurgence in the value of several cryptocurrencies.

With that in mind, the next few weeks are the perfect opportunity for investors to buy some of the top altcoins in the market at discount prices. 

Choosing which altcoins to pick can be a lengthy and complex choice, so this article will look at the four alternative cryptos with the highest potential for growth in 2023.

Apecoin (APE)

Last year, the Bored Apes Yacht Community ecosystem experienced significant growth due to increased adoption by celebrities like Post Malone and Justin Bieber. In addition, its purchase of another popular NFT collection, the CryptoPunks, also cemented its investability factor. ApeCoin is the governance and utility token of the APE and BAYC ecosystem. It is designed to act as the decentralized protocol layer for activities within the community and its ecosystem.

APE is also an ERC-20 token that developers utilize to empower and incentivize decentralized community building at the forefront of Web 3.0. It also solves one of the crucial issues that DAOs face today by enhancing community participation.

Aside from the governance and game-integration aspects, ApeCoin can also be used to make payments to merchants. Given the media attention that ApeCoin has generated, this token could be one of the hottest cryptos to buy in 2023 and one to play an active role in the next bull run.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Binance Coin (BNB)

Binance Coin remains one of the leading cryptocurrencies by market cap and is one of the most valuable altcoins on the market. Binance, the world’s largest cryptocurrency exchange, created the BNB token as a conduit for investors to receive discounts on trading fees.

In September 2020, Binance widened its offering to compete with Ethereum and provide a platform for users to conduct smart contract transactions. This proved a shrewd move as Ethereum’s transaction fees grew to unaffordable levels, which led thousands of users to move to competitors. This led to a massive increase in the value of BNB.

As a result, Binance’s Smart Chain is a genuine competitor to Ethereum, particularly in the dApps space, where it hosts more than 4,200 dApps, compared to Ethereum’s 3,500.

BNB’s excellent reputation and historic popularity have meant that it should encounter huge demand during any bull market. Don’t be surprised to see it outperform most other tokens, making BNB one of the top four altcoins to invest in 2023.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cosmos (ATOM)

Cosmos is a network of blockchain networks. The goal of the project is to allow separate blockchains to communicate with each other seamlessly. By allowing any blockchain to communicate, share data, and transact with any other, Cosmos is able to transform friction in the market into a positive driving force for development.

However, Cosmos is more than just a bridge between blockchains. This platform also features a full suite of products and features that make it a valuable player in the market. Cosmos introduces a next-generation technology stack that provides developers access to powerful tools that increase blockchain creation efficiency.

Impressively, developers are able to create complex blockchains within the Cosmos ecosystem in a week. In comparison, the same task would take weeks using 2cd-generation blockchains. For this reason, Cosmos continues to see a growing dApp community that drives user interaction.

ATOM has been appreciating and making headlines for a few months, and this could only be the beginning. Investing in ATOM in 2023 could help you make notable returns in the long run.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Algorand (ALGO)

Algorand (ALGO) is a two-tier decentralized network that functions as both digital money and a blockchain platform. Anyone can audit and contribute to the platform’s protocol because it is an open-source blockchain. ALGO (ALGO) aspires to be a highly efficient and scalable platform that enables transactions to be performed quickly.

This platform makes use of a two-tier blockchain infrastructure that combines the advantages of layer-1 and layer-2 blockchains. Its foundation layer also offers intelligent contract integration, asset production, and atomic coin swaps, all of which contribute to security and compatibility.

The inventors of Algorand (ALGO) say that their cryptocurrency would outperform others due to its speed, efficiency, architecture, and governance.

Instead of the mining-based Proof-of-Work method used by Bitcoin and other cryptocurrencies, this platform validates and approves transactions using a modified version of the Proof-of-Stake consensus process, also known as Pure Proof-of-Stake. As a result, it requires substantially fewer processing resources and can settle transactions in seconds.

Users can validate payments without keeping a balance for block verification and individual payments. Algorand (ALGO) wants to construct a blockchain that provides tangible values to efforts aimed at building a global economy with an emphasis on economic innovation. Experts predict a bright future for ALGO, making it one of the top altcoins with great potential to grow in 2023.

Earlier, Algorand and Hivemind announced the acquisition of Napster. Napster is a part of the Rhapsody group that provides digital music and support for streaming technologies. The new venture provides new ways for music streaming through the ALGO blockchain and allows it to compete with other networks, such as the Near Protocol.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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