There are many undervalued cryptocurrencies to choose from in the current market landscape, considering that most digital assets are still trading at a fraction of their prior all-time highs. As such, this article explores the 5 best cryptos to buy before February 2023 ends.
Solana (SOL)
While it is true that the broader cryptocurrency markets remain somewhat bearish, Solana has started 2023 incredibly. This is because, year-to-date, this crypto has generated returns of over 130%, from $10 to over $23 per token.
It has a solid technological framework and is one of the best-performing blockchains in this space. When compared to Ethereum, for example, Solana transactions are significantly cheaper and more scalable.
And just like Ethereum, Solana can facilitate the deployment and execution of smart contract agreements. It is also building its own ecosystem of dApps (decentralized applications), alongside DeFi (decentralized finance) platforms focused on trading, staking, and earning.
With that said, although Solana has started 2023 well from a pricing perspective, the project is still trading well below its former all-time high. In fact, when the broader crypto markets peaked in late 2021, SOL's price was at over $250. This means that based on the price as of writing, this crypto can be purchased at a 70+% discount.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Shiba Inu (SHIB)
The rise of Shiba Inu since its 2020 launch has been nothing short of unprecedented. Although it was initially founded as a meme coin alternative to Dogecoin, the project has since grown into one of the top coins by market capitalization.
In fact, as of writing, this crypto carries a valuation of over $6 billion. This is, however, nearly 60% below its previous peak market capitalization. As a result, some investors will view Shiba Inu as the best crypto to buy in February 2023, considering the discount on offer.
Shiba Inu is looking to leave its meme coin status behind, with the project working on a wide range of use cases for its token. For instance, the Shibaverse is the project’s native metaverse world, which enables users to buy and own virtual land.
The Shibaverse will facilitate plenty of earning opportunities, such as freelance job postings, play-to-earn gaming, and staking features. Many of the world’s most popular exchanges and brokers now list Shiba Inu, so investing has never been easier. These aspects make SHIB one of the best cryptos to invest in now.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Zilliqa (ZIL)
Zilliqa is relatively unknown to many, but it has outstanding values that may be worth your investment. This crypto is one of the powerful tokens built with the DeFi protocol and has the potential for a massive gain. The reason is that the native token, ZIL, is used to manage network operations and smart contracts.
The crypto is built on a platform that allows thousands of transactions per second, a speed that is unattainable by many other cryptos. These are the viable reasons the crypto exhibits and thus gains investors.
February 2022 was an exciting month for the crypto platform, with its price surging from four to eighteen cents in a couple of months. The remarkable achievement was due to the launch of the company’s metaverse services.
The metaverse, as we all know, could potentially become a multi-billion dollar industry down the road, which should immensely benefit Zilliqa. Fortunately, if sentiments remain positive and bullish, we can expect a similar bump in value.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
Although, indeed, no other crypto rivals the size of BTC or ETH, BNB – the native token of the Binance cryptocurrency exchange – is the closest. With a market cap of about $46 billion, not only is BNB one of the largest cryptos, it's more than twice the valuation of many top stablecoins. So while the sudden implosion of the FTX exchange in November was another blow to crypto's reputation in general, it was arguably a boost for the Binance ecosystem, which was FTX's largest rival.
Binance is now easily the most dominant crypto exchange in the world. Unlike many other top cryptocurrencies, BNB both has a hard cap on its supply and aims to reduce supply over time by "burning" a portion of its BNB-denominated transaction fees – thereby increasing scarcity. As a result, BNB is one of the hottest coins on the market today and is one of the top cryptos to buy before February 2023 ends.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cosmos (ATOM)
The last pick among the top cryptos for February 2023 is Cosmos' ATOM token, which also happens to double as the least valuable by market cap, at a size of roughly $3 billion. ATOM, the native token of the Cosmos Hub blockchain and a governance token, enables owners to contribute to how the project should proceed.
It is intended to be an environmentally friendly platform whose technology makes inter-blockchain communication easier, faster, and cheaper while simplifying the ability of engineers to code decentralized applications. Like Polygon, the project's underlying goal is to improve the overall ecosystem and make blockchain a more widespread, easily accessible part of everyday life. ATOM is up 50+% from its June lows.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
In Conclusion
As the first month of 2023 ends and we move through February, investors are curious to see if the past bear market will show a tendency to turn bullish this year. The above 5 cryptocurrencies all show tremendous upside potential and can be a safe bet for investments for 2023, according to experts.