Top 5 Crypto To Keep An Eye On In 2023 - Our Picks
Here’s a glimpse of the top 5 crypto tokens to keep an eye on in 2023. Find a detailed description of each coin in the next section.
Bitcoin - The de facto crypto
Ethereum - One of the top cryptos with real-world utilities
Dogecoin - One of the most Googled cryptocurrencies
Binance Coin - The best utility coin to buy now
Ripple - A coin worth watching in 2023
A Closer Look At The Top 5 Crypto To Keep An Eye On In 2023
Is the crypto winter settling, and is 2023 going to be a good year for the crypto market? This is a perennial question that is puzzling every investor and crypto enthusiast right now. Nevertheless, volatility is no new news to investors and crypto traders.
However, the entire crypto community shares optimism about 2023, which is gearing up to be a stellar year for many cryptocurrencies. These are the top 5 cryptos to keep an eye on in 2023, as they have the potential to ride the wave of a bull market.
Bitcoin (BTC)
Bitcoin tops the list of top 5 cryptos to keep an eye on in 2023, to no one’s surprise. The number one crypto was born out of the need for a peer-to-peer financial system that does not rely on banks or regulations. Bitcoin has always led the bull market, and experts believe 2023 will be no different. Even people like Tim Draper, a venture capitalist and early Bitcoin proponent, predicted that BTC would hit $250,000 in mid-2023.
One reason for this rising optimism is that, unlike some other high-profile cryptos, the Bitcoin network didn't face any downtime in 2022 other than the price dip. With zero hacks or disruptions recorded, it remained an ideal example of a secure blockchain network.
BTC is one of the cryptos to keep an eye on as it's picking up a steady pace on the adoption front too. For instance, Alphabet recently declared that it would accept BTC as payment for its Google Cloud service in 2023. Financial institutions like Bank of New York Mellon, America's oldest bank and the world's largest custodian bank, have allowed its clients to hold and transfer BTC using its Digital Asset Custody platform.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
ETH is the next crypto token to keep an eye on in 2023, as it is the world’s largest smart contracts platform that dominates emerging fields like DeFi, NFTs, and Metaverse. This makes Ethereum the central pillar of the Web 3.0 movement.
2022 saw the transition from energy-intensive Proof-of-Work to the energy-efficient Proof-of-Stake. This has reduced the platform’s energy consumption by about 99.95%. The Merge has also made the network highly scalable, to support the development of more tokens, apps, and services. It has also paved the way for Sharding in 2023, a way to spread out the network’s load making it faster.
There has been a significant rise in ETH prices recently, as it has been experiencing deflation for some months. The burning of more Ether tokens would increase its demand, pushing its price higher to new all-time highs.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dogecoin (DOGE)
Dogecoin, the meme coin, has been on investors’ radars over the past few years. One big catalyst for the rise of DOGE price has always been Elon Musk, a high-profile backer of the meme crypto. Musk has even gone so far as to proclaim himself “The Dogefather.” It is no surprise that his $44 billion acquisition of Twitter has given DOGE the much-needed push in 2022. Musk even suggested that Dogecoin would be integrated into Twitter in the future, making it the best crypto token to keep an eye on in 2023.
On the technical side, the team behind the crypto has been working ardently on a major technological upgrade. Currently, DOGE’s value is limited to a payment option, but they have plans to implement additional utilities to boost the coin’s value proposition.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
Binance is one of the largest crypto exchanges that has seen immense popularity and attraction. BNB, the native token designed specifically as a utility token, has now secured its place in the top 5 cryptos to keep an eye on in 2023. It holds great potential and shows signs of strong trajectory in 2023 as Binance overcomes the FUD targeted at it. This also exposes that the crypto can withstand this sort of bank run that led to the bankruptcy of FTX.
BNB is a good buy now as it will increase in price in the coming years as Binance Coin employs a unique Auto-Burn system to reduce its total supply to 100,000,000 BNB.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
Ripple XRP is a fast-expanding cryptocurrency that has seen impressive growth and adoption over the past few years. The technology and consensus employed by Ripple allow for the quick, instant, and low-energy processing of transactions.
Rather than building a global digital payment network, Ripple has also introduced projects like Xpring, which brings collaboration and investment for scaling innovative blockchain projects. It has an array of tools and services in the payment gateway that facilitates seamless cross-border transfers across any network using the Interledger Protocol.
Another reason to keep an eye on XRP in 2023 is that the Ripple-SEC lawsuit is confined to the end of this year in Ripple’s favor. This would certainly push the price of XRP to new highs, making it a good buy now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Be it Bitcoin or any other altcoin, 2023 fills hope in investors. These top 5 crypto tokens are with keeping an eye on as they have the potential for massive upside in the future.
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