Top 5 Cryptocurrencies With High Potential For Upside In 2023

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Last Updated October 19th 2022
5 Min Read

Top 5 Cryptocurrencies With High Potential For Upside In 2023 - Our Picks

Bitcoin - Leading Cryptocurrency with Growing Use Cases

Ethereum - Largest altcoin that is growing rapidly 

Uniswap - Best DEX crypto to invest in for 2023 

Binance Coin - Hottest utility crypto in the market to buy 

Avalanche - Most promising crypto with high potential to soar in 2023

 

A Closer Look At The Top 5 Cryptocurrencies With High Potential For Upside In 2023

A crypto winter has been crippling the market for almost all of 2022. Despite the plunging prices, a rising number of investors indicates that the market is on its path to recovery. 

The recovery phase makes it confusing and overwhelming for first-time users to know which cryptocurrencies are ideal for investment. The potential that cryptocurrencies hold leaves us curious about what the future looks like. Here are the top cryptos with high potential for upside in 2023.

Bitcoin (BTC)

It will likely come as no surprise to see Bitcoin on our list of the best crypto with the most upside potential. Although it already carries a large market capitalization, it is important to remember that this digital currency has seen its valuation decline in line with the rest of the industry.

After all, the crypto market moves in prolonged bear and bull cycles, which for seasoned investors, offers the opportunity to buy the dip when prices are down.

Additionally, Bitcoin has one of the most promising futures and the backing of the most reliable blockchain technology. By the turn of the decade, the crypto market is convinced that it will have grown its current worth by more than 5000% to break above $1 Million.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Ethereum (ETH)

While Ethereum does not get the same levels of global attention as Bitcoin, this crypto project has held its own since it was launched in 2015. It has remained the second-largest crypto token for market capitalization – and for a good reason.

First and foremost, thousands of competing digital currencies utilize the Ethereum blockchain, which supports smart contract technology. Known as ERC-20 tokens, these projects have chosen the Ethereum blockchain for its security, speed, and legitimacy.

Some of the most successful projects that have opted for the Ethereum blockchain and ERC-20 framework include Maker, Shiba Inu, Chainlink, Decentraland, Basic Attention Token, and Sandbox. From the perspective of ETH investors, the more projects electing to operate on top of the Ethereum blockchain – the better.

After all, ERC-20 token transactions require the sender to pay fees in ETH. This means that ETH has a real-world use case, and thus – the token continues to increase in demand and is one of the top cryptos with a high potential for upside in 2023. Hence, investing in ETH at current pricing levels offers the opportunity to enter the market at an attractive discount.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Uniswap (UNI)

Uniswap is the largest and most popular decentralized crypto exchange. Established in 2018, it has since onboarded more than 3 million crypto traders and investors who have traded more than $1.1 Trillion worth of crypto and locked more than $7 Billion in its liquidity pools.

These, alongside its resilience, helped keep UNI token prices on an uptrend, which is one of the reasons why we list it in our index of the top cryptos with high potential for upside in 2023 and beyond. We also feature it here because its growing use case is expected to significantly impact its prices. Note, for instance, that the Uniswap exchange has been integrated into 300+ crypto dApps and programs.

The number of traders/investors registering with the DEX is on a sharp uptrend as more crypto enthusiasts turn to privacy-focused crypto exchanges heightens. And all these are expected to help push up UNI token prices.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Binance Coin (BNB)

The Binance Coin is the utility token for the Binance exchange and the native token for the fast-growing Binance Smart Chain. The altcoin launched in late 2017, and by the time it peaked in late 2021, it was trading more than 450000% above its ICO price. It has dipped today and is trading more than 50% below this all-time high.

Notwithstanding such a massive dent in its prices, we still include it in our basket of top cryptocurrencies with massive potential for upside in 2023. Especially since Binance is committed to the regular burning of BNB tokens. This reduces token supply, which fuels its future gains alongside a recovering crypto market.

We must also recognize that over the last few months, Binance was engaged in an aggressive acquisition and partnership campaign. This saw it onboard many crypto brands, programs, and protocols that increase BNB token’s use cases, effectively pushing up the token prices to unprecedented heights.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Avalanche (AVAX) 

Avalanche is a relatively new layer one blockchain — a blockchain that improves the base protocol to make the system more scalable, as Binance described it. It was founded as an Ethereum competitor by Ava Labs and computer scientists at Cornell University.

Whereas Ethereum’s nodes must all validate each transaction, Avalanche’s three individual blockchains can validate transactions independently. This makes Avalanche more scalable and able to handle large volumes of transactions — up to 6,500 per second. As a result, it is increasingly popular among Ethereum projects.

Avalanche's native coin, AVAX, is currently trading at $15.87, a good price point for investors looking to become a part of the growing Avalanche ecosystem.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

In Conclusion

As the year-end inches closer, investors are curious to see if the bear market will show the tendency to turn bullish in the next year. The above 5 cryptocurrencies all show tremendous potential for upside in 2023 and can be a safe bet for investments for the next year. 

Read More:

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