Top 5 Cryptocurrencies To Invest In January 2023 - Our Picks
These are the top 5 cryptocurrencies to invest in January 2023. Find a detailed description of each coin in the coming section.
Ethereum - One of the most advanced crypto to invest in now.
Tether - The largest stablecoin on the market today.
Cardano - An increased developer activity, could push the price of ADA higher.
Polygon - The crypto has made its position in Web3.
Dogecoin - One of the most popular meme coins to buy in January.
A Closer Look At The Top 5 Cryptocurrencies To Invest In January 2023 - Our Picks
Cryptocurrency investors are hoping to turn the pages on 2022 and put an end to the prolonged bear market scenario. The market is hopeful that 2023 will witness another bullish rally soon. Therefore, it is time to add the most potential cryptocurrencies to your investment portfolio to bring dire rewards this year. There are still some cryptocurrencies that might be worthy of your dollars, especially for long-term investors.
If you are looking to diversify your crypto portfolio, these are the top 5 cryptocurrencies to invest in January 2023.
Ethereum (ETH)
Given that Ethereum has been the leader in smart contracts and creating new market categories like non-fungible tokens (NFTs), decentralized finance (DeFi), and the metaverse, the crypto has always maintained its place in the investor’s list. Even amidst the crypto crash in 2022, ETH became widely popular in the finance and technology sectors.
One key catalyst that was supposed to fuel ETH prices to new levels in 2022 was the launch of The Merge upgrade. Although the transition to Proof-of-Stake did not give ETH the expected push due to other macro-economical factors, it was surely a monumental event for the entire crypto sphere. The upgrade has enhanced Ethereum’s performance and scalability, along with making it a highly energy-efficient blockchain network.
Well, ETH is definitely one of the top cryptos to invest in in January 2023, as it has several updates, like Sharding, planned for the year that would enhance the blockchain and increase its efficiency.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Tether (USDT)
Stablecoins like Tether have been doing exceptionally well in the crypto sphere, making it the best crypto to invest in January to grow your finances. The purpose of Tether is to combine the unrestricted nature of cryptocurrencies with the stable value of the US dollar. The result is the stability of fiat currencies combined with the innovative and advanced technology of blockchain. Thanks to this, USDT can stand strong against price fluctuations.
Stablecoins like Tether are increasingly used as a hedge against inflation, especially during this time of rising uncertainties in the market. Tether was initially built on the Bitcoin blockchain but now supports the Omni and Liquid protocols for Bitcoin, Ethereum, and Tron blockchains, making it a highly valuable and flexible commodity.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Cardano's entry into the DeFi sector could unlock the immense potential of this crypto in 2023, making it an ideal crypto to invest in January. Cardano has been known for its development activity, consistently adding to open-source repositories, such as GitHub. In 2022, the crypto witnessed a massive increase in the on-chain growth of the network as measured by metrics like blockchain wallets, overall transaction activity, and new partnerships and collaborations.
After the Alonzo upgrade in 2021, Cardano completed its Vasil hard fork in 2022, which significantly enhanced scalability and performance and paved the way for the development of decentralized applications. Investors are waiting for the launch of its exciting layer-2 scaling solution, known as Hydra in 2023. This will theoretically allow the network to process over 1 million transactions per second (TPS).
Cardano also plans to launch its own stablecoin Djed soon in 2023, which will position the network as a significant player in the world of DeFi protocols.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polygon (MATIC)
Polygon has become a potential player in the market with a growing suite of products that offers developers seamless access to all major scaling and infrastructure solutions. The Polygon ecosystem includes L2 solutions, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and many more. A significant market opportunity that has immense potential is customer loyalty programs running on the blockchain, and Layer-2 scaling solutions like Polygon are at the forefront of this trend. For instance, the Starbucks Odyssey loyalty program on the Polygon network helps customers earn extras like NFTs Web 3.0 experiences.
Market experts believe that Polygon is one of the top cryptos to invest in January 2023 as there are numerous positive developments in the pipeline for the crypto. Thanks to Polygon, J.P Morgan Chase, the world’s most popular bank, completed its first LIVE trade-in DeFi by working with the Monetary Authority of Singapore. This is marked as one of the significant events, especially in the development of Web 3.0 technology.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dogecoin (DOGE)
Dogecoin, the popular meme coin, experienced a major downturn in 2022. But the crypto again had a brief spike with the news of Elon Musk’s acquisition of Twitter. This has become a major catalyst for price action in DOGE, as the crypto behemoth has always been an ardent supporter of the meme coin, propelling its value. Musk also suggested that Dogecoin would be integrated into Twitter at some point, enhancing its use cases and utilities.
In addition to this, the developer behind DOGE is also working on several technical developments and enhancing its real-world use cases.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Investing in cryptocurrencies is risky and speculative but highly lucrative if invested strategically. For investors looking for the top cryptocurrencies to invest in January 2023, these are top projects that could help you produce massive gains in the future.
Read More:
The 5 Best Ways To Buy Polygon (MATIC)
Best Long-Term Crypto Investments
Top Cryptocurrencies To Invest In
Best Beginner Crypto To Invest In
Next Cryptocurrency To Explode
Top 10 Most Promising Cryptocurrencies
12 Best Cryptocurrency To Buy Right Now