The past year has been a particularly wild ride for crypto investors: the value of Bitcoin and Ethereum soared to new heights and, with more widespread acceptance as a form of payment, also came wider institutional crackdowns.
At the same time, countless new cryptocurrencies are popping up on the market with promises of the same type of growth - it can be hard to know what to pick in an industry that is already very volatile. To make the investment process easy for you, we have put together the top 5 cryptocurrencies that will hit new highs in 2023 and beyond, according to industry experts.
Ethereum (ETH)
The first coin on our watchlist, Ethereum (ETH), is a decentralized software platform that enables smart contracts and decentralized applications (dApps) to be built and run without downtime, fraud, control, or interference from a third party. The goal is to create a decentralized suite of financial products that anyone in the world can freely access, regardless of nationality, ethnicity, or faith.
This aspect makes the implications for those in some countries more compelling because those without state infrastructure and state identifications can get access to bank accounts, loans, insurance, or a variety of other financial products.
The applications on Ethereum run on ETH, its platform-specific cryptographic token that is sought by developers looking to develop and run applications inside Ethereum, or now, by investors looking to make purchases of other digital currencies using Ether.
The immense growth of the DeFi and NFT sectors makes ETH one of the top 5 cryptocurrencies that will hit new highs in 2023 and beyond.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Due to its large market gains and energy-efficient process, which is seen as far eco-friendlier than Bitcoin, Cardano (ADA) has attracted a wide range of investors. It is a popular, fast-growing blockchain technology that stands for secure and sustainable blockchain with ground-breaking use cases. The project can redistribute power from unaccountable structures to the margins.
Its native cryptocurrency ADA has recently acquired expanded attention as one of many proof-of-stake blockchains under construction in the crypto environment.
The Cardano project defines its protocol as a blockchain of the third generation intended to enable intelligent contracts with future applications of quality control and governance of the supply chain.
For various reasons, experts believe ADA to be one of the top 5 cryptocurrencies that will hit new highs in 2023 and beyond. Investing in Cardano now is a wise choice because it is a very open and inviting environment that works the same for all. There are no barriers when it comes to trading and initially entering.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polygon (MATIC)
Polygon is a unique staking coin that was created in an attempt to scale Ethereum. Its purpose was to ensure compatibility by connecting every Ethereum-based dApp (decentralized application). Notably, network validators secure transactions on this blockchain. MATIC is among the leading cryptocurrencies with the most potential because it can validate up to 65,000 transactions per second (TPS), allowing Ethereum networks to complete transactions efficiently.
Polygon is one of the top 5 cryptocurrencies that will hit new highs in 2023 primarily because of its staking benefits. Delegators are only required to stake a single coin before participating in the network while staking itself requires at least two tokens. You can begin staking by connecting your MetaMask wallet to your Polygon wallet. The expected annual staking reward depends on how many coins you stake. Therefore, Polygon is profitable and one of the top cryptos to buy now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
The next project to consider from our list of the top 5 cryptocurrencies that will hit new highs in 2023 is Solana. Often described as an Ethereum Killer, Solana is home to a decentralized blockchain that permits the deployment of smart contract agreements. With that said, it performs significantly better than its Ethereum rival across most metrics.
This network attempts to rectify multiple pain points in the market. First, the network’s architecture was structured to be expandable and resilient to censorship. This trustless and distributed blockchain tackles both transaction settlement speed concerns and bandwidth via this design.
The crypto market faces various scalability issues, and early blockchains' reliance on the Proof-of-Work consensus mechanism has led to congestion issues. Solana avoids these issues by introducing systems that allow the network’s transaction throughput to scale proportionally to its bandwidth. For example, Bitcoin can handle seven transactions per second (TPS), and Ethereum can handle around twelve. According to developers, Solana is capable of 50,000 TPS. In this way, Solana improves upon many drawbacks of early blockchain networks.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Filecoin (FIL)
Filecoin is a decentralized peer-to-peer storage network where users can earn the platform’s token by renting out space on their computers’ hard drives. One of the main benefits of Filecoin is that it can store digital assets, such as art or music, behind non-fungible tokens.
Anyone can be a storage provider in Filecoin’s network, whether you are an individual or a data center. All you need is internet access and enough disk space. The more storage you provide to the Filecoin network, the more transaction fees, and tokens you can earn.
Experts have predicted a bright future for FIL's growth, making now a good time to invest.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bottomline
Timing is everything in investments. We believe this is the best time to invest in these cryptocurrencies that have the potential to soar in the next few years. However, do your own research and risk analysis before investing.
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