Most cryptocurrencies have been on a downward spiral in 2022, which is discouraging for the market. However, seasoned investors would argue this presents a profitable opportunity to buy and hold some solid cryptocurrencies at bargain prices for the long term – buy low, sell high, as the trading mantra goes. As such, investors need to make smart decisions about which cryptos can survive another crash and choose wisely. While Bitcoin is the natural answer, let’s look at 5 other cryptos that can sustain a crash in 2023.
Top 5 Cryptos That Could Sustain A Crash In 2023 - Our Picks
Here are our picks for the top passive income cryptocurrencies. Find the detailed reviews of these projects in the next section.
Solana - One of the hottest cryptos in the market
Polkadot - Fast-growing crypto project with immense potential
Binance Coin - Experts' pick for one of the best altcoins
Ripple - A crypto on the verge of a breakout
Cardano - Most promising crypto of the year
A Closer Look At The Cryptos That Could Sustain A Crash In 2023
Solana (SOL)
Solana was among the stars of the show in the 2020 - 2021 bullish phase. It has plummeted alongside other tokens. However, it has the edge over other cryptocurrencies because its run to the top was driven by solid fundamentals rather than FOMO or hype.
Solana is a relatively new high-performance blockchain. It is currently attracting a lot of attention from developers and investors and shows a lot of promise due to several projects in the works.
This will likely push SOL’s price up. Even though SOL is not a new cryptocurrency, it has become one of the top cryptos that can sustain a crash. It is a smart-contracts platform that runs on proof-of-history (PoH), which allows fast and cost-efficient transactions.
With more than 50,000 transactions it can perform per second, it has the potential to go up to a million. Another great thing about the network is its low transaction fees. NFTs can be created on Solana with minimal rates and low gas fees.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polkadot (DOT)
Polkadot is a multi-chain application environment that enables cross-chain interoperability on a level previously unimaginable. Specifically, it allows users to send more than just tokens across blockchains. It allows these networks to communicate actual data.
The network has rewritten history with its parachains, short for parallel chains, which are a series of connected blockchains. It is thus a “multichain” network consisting of blockchains running alongside one another in a way that speeds up transactions. Having multiple lanes to complete transactions leaves less chance for network overload.
Since its blockchain network is flexible, Polkadot can pivot and serve more specific needs. The platform is gaining interest from investors because it is more interactive. Developers can link blockchains to the Polkadot system and even create entirely new blockchains.
Due to such factors, experts believe its native token DOT to be one of the 5 cryptos that can sustain a crash in 2023.
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 the biggest cryptocurrency exchange in the world. Binance coin (BNB) is a native token and is one of the most popular altcoins. After hitting an all-time high of $690.63 on May 10, 2021, BNB proved to be a token with massive potential and an undeniably bullish life cycle. The coin is widely adopted due to its diverse utility and the popularity of Binance as a platform.
The project has many advantages over its competition, including a network that can process transactions considerably cheaper than its main rival, Ethereum (ETH). Alongside this, the BNB chain is much faster at facilitating these transactions, making it a more appealing network for dApp developers and NFT creators.
The main goal of BNB is to be a security token such as Ethereum and Bitcoin and to add value to the ecosystem by letting people use it as the native currency. The BNB-USD pair has become one of the strongest ones lately, making it an excellent way to invest your money when the dollar is going down.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
Ripple is a payment protocol that processes international money transactions using blockchain technology. It has worked with hundreds of financial institutions that use its technology.
Ripple can sell as many tokens as it wants when they’re released to raise funds, and unsold tokens will be placed in a new escrow. To verify transactions, the XRP cryptocurrency employs a consensus system. Validators check proposed transactions against the most recent version of the XRP ledger and accept the ones that are valid.
For a transaction to be confirmed, it must be accepted by most XRP validators. A typical XRP transaction takes five seconds to complete. As a bridge currency, XRP tokens can be utilized by financial firms to exchange currencies at a lower cost. They can also use XRP instead of fiat currencies. Moreover, even at the token’s all-time highest price, the transaction cost was just 0.00001 XRP.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Cardano (ADA) was created in 2017 and is one of the top cryptocurrencies. This penny crypto was created as a next-generation evolution of the Ethereum concept. The Cardano blockchain is a sustainable, scalable, and flexible platform for running smart contracts. This makes way for the creation of various decentralized finance apps, games, new crypto tokens, and more.
Cardano aspires to be the most environmentally-friendly blockchain platform available. Instead of the energy-intensive proof-of-work approach used by the likes of Ethereum, it employs a unique proof-of-stake consensus process called Ouroboros. Cardano also intends to decentralize entirely.
This is achieved by implementing community-driven governance and an automated treasury mechanism to fund the network’s development. ADA has strong fundamentals, and experts consider it one of the top 5 cryptos that can sustain a crash in the future.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Read More:
Best Future Crypto Coins To Buy
Top 10 Cryptocurrencies To Trade
Best Beginner Crypto To Invest In
Fastest Growing Cryptocurrencies
Best Long-Term Crypto Investments