Bitcoin continues to lead the pack of cryptocurrencies in terms of market capitalization, user base, and popularity. Other virtual currencies such as Ethereum are helping to create decentralized financial (DeFi) systems.
All cryptocurrencies other than Bitcoin are collectively called altcoins, and in some cases, memecoins, and have often tried to present themselves as modified or improved versions of Bitcoin.
Some altcoins have been endorsed as having newer features than Bitcoin, such as the ability to handle more transactions per second or use different consensus algorithms such as proof of stake. This article features the top 5 altcoins to buy before 2023 to hop on the price rally, as experts believe altcoins are poised for a bull rally soon.
Ethereum (ETH)
Standing at the top alongside Bitcoin (BTC), Ethereum (ETH) is a top cryptocurrency created to serve various purposes. Users can use ETH as a store of value, and developers can also build platforms or other cryptocurrencies on the Ethereum network. Its role as the gateway to Decentralised Finance (DeFi) applications and Non-Fungible Tokens (NFTs) is one of the biggest USPs of the network.
Ethereum is in the process of an upgrade, referred to internally as The Merge. The result will be improved scalability, security, and sustainability of the network. As a result, bulls are buying up coins in anticipation as 2023 could see a high ETH value, making the coin one of the top 5 altcoins to buy before 2023 to hop on the price rally.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Cardano (ADA) is known to be a third-gen blockchain that is available to the overall population alongside being a dApp advancement platform. Third-gen cryptocurrencies take examples from first and second-gen digital assets and enhance upon their constraints.
Cardano uses new advancements implemented throughout the years, including security, sustainability, and multiple layer architectures, to develop versatility. It is said to be the first blockchain platform to have acquired worldwide media consideration by including a companion investigated research plan into its core standards.
Its proof-of-stake architecture is less harmful to the environment than Ethereum (ETH), and its founders have claimed that their mission is to give the world a platform for “change-makers, innovators, and visionaries” and to bring positive global change.
Cardano endeavours to acquaint norms into the market with empower interoperability across networks. These frameworks incorporate blockchain administration models, framework upgrade protocols, and capabilities. It has a strong community that continually supports the project, making ADA one of the top 5 altcoins to buy before 2023 to hop on the price rally.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dogecoin (DOGE)
Dogecoin is considered one of the most undervalued cryptos currently. It was initially created in 2013 as a comedic take on the sudden growth of alternative currencies (altcoins) following Bitcoin’s popularity. However, the memecoin has since evolved and become a tipping crypto asset for holders.
Now, Dogecoin is considered the king of the meme crypto ecosystem and has been popularized by entrepreneur and billionaire Elon Musk. The Tesla and SpaceX CEO played a principal role in the boom of the meme coin niche when it inched close to $1 in value as DOGE tapped out at 73 cents. Meanwhile, Musk has not given up and is still known to be a stalwart supporter of the meme coin.
Dogecoin is far from its 2021 high, but the digital token is still part of the top 5 cryptos that could explode soon as it has continued to see mainstream adoption. TV streaming company Sling TV announced it would accept DOGE payments for its services. This was corroborated by crypto payment company BitPay.
Experts believe Dogecoin is a meme coin that could give exponential gains in 2023 and outperform other meme coins.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Shiba Inu (SHIB)
The meme coin race has been made even interesting with Shiba Inu’s launch in late 2020. According to its anonymous creator Ryoshi, it was a spontaneous experiment on the community-driven initiative. This is a part-piece attempt to topple Dogecoin on the meme crypto crown and install Shiba Inu as the top meme coins for investors.
The crypto is thus nicknamed the ‘Dogecoin killer.’ Despite playing second fiddle to Dogecoin, SHIB surged over 21,000% in the climax of the 2021 price rally, making the digital asset one of the top 5 altcoins to buy before 2023 to hop on the price rally.
However, Shiba Inu does not aim to take over the top spot with just social media hype and fanfare. Instead, the team has been churning several use cases to keep the project relevant and top-of-mind for investors.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
Solana (SOL) is a fourth-generation blockchain and cryptocurrency that leverages an open infrastructure to provide greater scalability. In addition, the network introduces various new and unique technologies to provide users with unmatched transaction speeds and enterprise-level security.
It is one of the most advanced blockchains in operation currently. The developers behind this project succeeded in creating a network that could surpass current payment processors in terms of TPS and functionality.
Solana is a rival to Ethereum (ETH), and most analysts think that it could surpass it in 2023. It was designed to support and sustain smart contracts (a collection of code that executes a set of instructions on the blockchain). It is also used for decentralized applications (dApps). However, SOL has not quite caught up to where its potential is, making it one of the top 5 altcoins to buy before 2023 to hop on the price rally.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bottomline
Investors tend to opt for only Bitcoin without realizing that there are so many altcoins that are going to rally in 2023. Do your own research on the above 5 altcoins and invest thoughtfully.
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