Cryptocurrency investors have been on the edge since 2022 started. The price of the flagship cryptocurrency Bitcoin has been plummeting massively, losing more than 50% of its value.
Since the beginning of 2022, the condition of the crypto market has been deteriorating. The stock market’s degeneration due to inflation, the geopolitical crisis between Russia and Ukraine, and the Fed’s aggressive moves to control the effects of inflation are some of the primary factors that forced investors to reconsider crypto investments. Nevertheless, experts have already started marking dates in the 2023 calendar for the major cryptocurrencies to rally. Here, we have listed the top 5 cryptocurrencies with brighter future than Bitcoin in 2023.
Ethereum
Because of its potential applications, such as smart contracts, Ethereum (a cryptocurrency and a logic block) has become one of the largest crypto projects.
Compared to Bitcoin, Ethereum lacks scarcity (Bitcoin supply is capped at 21 million coins) and widespread acceptance by companies and governments. However, unlike Bitcoin, Ethereum is not just a store of value. It is also an infrastructure on which apps can be built. Other cryptocurrencies are issued on Ethereum, serving as the foundation of decentralized finance. This makes ETH one of the cryptocurrencies with brighter future than Bitcoin in 2023.
Many metaverse projects, including Star Atlas, Axie Infinity, and The Sandbox, use the Ethereum blockchain, as do most NFTs.
Ethereum has also grown at a breakneck pace. Between April 2016 and the beginning of March 2022, its price increased by more than 27,000%, from about $11 to more than $3,000.
Ethereum just launched the much-anticipated Merge upgrade that caused the token to plummet drastically. But ETH 2.0 is expected to have a positive effect on Ethereum, and all over cryptocurrencies, including Bitcoin. Due to the successful implementation of Ethereum Merge, experts anticipate that ETH might soon overtake Bitcoin in the coming months.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin
Binance exchange native cryptocurrency BNB is one of the most popular altcoins. It employs the BFT consensus method. It is a deflationary coin, and one per quartal, the company burns tokens, which positively impacts the BNB.
The asset is one of the cryptocurrencies with a brighter future than Bitcoin in 2023 since its price proliferates. The exchange’s token develops in various industries. Binance develops an ecosystem where any user can find numerous helpful things, from passive income to DApps, etc.
Binance coin has evolved since its debut in 2017, and it now does more than facilitate transactions on Binance’s exchange platform. It can now be used for trading, processing payments, and even making travel plans. It can also be traded or converted into other cryptocurrencies such as Ethereum or Bitcoin.
Countless new projects have developed in the BSC network, and the Binance exchange has a SuperApp that is an essential benefit. DeFi also grows in the BSC, and Binance Coin is the base for these projects. More and more projects will depend on the coin, and the investment will profit in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polkadot
Polkadot actively develops, makes a network parachain, and functions in a Web 3.0 network. The prime issue now is functional compatibility. Polkadot targets to solve blockchain compatibility problems. It is a multi-system that connects other blockchains.
If Polkadot achieves globalization, it will allow the creation of a new internet version where the information will be protected from regulators and the central government.
Hundreds of projects have chosen Polkadot, some of which work in the DeFi sector. Mining crypto is unavailable since the blockchain employs Nominated Proof of Stake. Still, staking allows earning additional coins.
The functionality of Polkadot differs significantly from classic cryptocurrencies. The project has a minimum of competitors in the chosen niche, so DOT is well suited for investment. Increased load does not cause network slowdowns. Processing operations due to the simultaneous work on different blockchains is fast, with the redistribution of capacity. Another plus is that DOT does not need hard forks; there are smooth updates for individual blocks, giving the ecosystem practicality.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano
Cardano is one of the world’s biggest cryptocurrencies and one of the top 5 cryptocurrencies with brighter future than Bitcoin in 2023. ADA is a technological achievement in a blockchain environment.
The project employs Proof-of-Stake, which solves three issues namely; decentralization, security, and scalability. Like Ethereum, ADA mainly uses smart contracts to process and control transactions. Cardano is the combination of Bitcoin and Ethereum technologies. Hence, experts consider ADA an excellent investment.
Cardano reached 10 billion dollars in capitalization in three years. It is several folds faster than Bitcoin; it indicates the project's development speed. In the future, the number of investors will only grow.
Cardano is a decentralized platform created in 2017. In 2022, it introduced smart contracts. It is an excellent choice for both short-term and long-term investments.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Avalanche
AVAX is a virtual asset that builds a unified ecosystem where users worldwide can transact funds with crypto means. AVAX is Avalanche’s native token that serves for fee payments, protecting the network, and other tasks.
Earlier, Avalanche began cooperation with Andretti Autosport; the project’s logo will be on the Andretti cars, racing suits, etc. This is a part of the marketing plan which may positively affect the eco-blockchain’s native token price in the future.
Solidity is the programming language for Avalanche, Ethereum, and Polygon too. Hence, the developers can transfer their platform, knowledge, and skills from one project to enhance theirs.
In 2022, Avalanche didn’t manage to be more productive than ATOM or Solana. Yet, the team is on the right path, the developers receive many grants, and it has a marketing company and partnership with influential groups. In 2023, the project might show good dynamics and overcome ETH.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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