These are the top cryptocurrencies that could boost your portfolio through 2023. Find a detailed review of each coin in the coming section.
Ethereum - With multiple updates in the pipeline, ETH could be a three-bagger in 2023.
Binance Coin - The BNB price largely depends on the growth of the exchange.
Cardano - Cardano's entry into DeFi would unlock the true potential of this crypto.
Litecoin - The best crypto to buy in 2023.
Investors have finally started to see a bright light at the end of the bear market tunnel now, as several cryptocurrencies are ready for a comeback in 2023. The best option for investors to reduce the risk ratio is to diversify their portfolios with potential cryptos poised for long-term growth.
Maximize your return with these top cryptocurrencies that could boost your portfolio through 2023.
Ethereum (ETH)
Ethereum has never ceased to attract investors with its advanced blockchain technology since its formal inception. Being both a cryptocurrency and blockchain platform, Ethereum is the go-to platform of program developers, thanks to its potential applications like smart contracts and NFTs.
Amidst the market crash of 2022, Ethereum saw the most momentous shift ever with the completion of The Merge. The crypto’s much-anticipated transition from a Proof-of-Work blockchain to a Proof-of-Stake has made the network more efficient and scalable, paving the way for other updates in 2023.
Ethereum continues to open new market opportunities regularly, given that it is the market leader when it comes to creating new market categories such as NFTs, DeFi, and the metaverse. ETH is one of the top cryptos that could boost your portfolio through 2023, as there are several updates planned for the year ahead to improve the blockchain’s efficiency.
The network’s Shanghai update is one of the most highly anticipated events in 2023, as it promises to bring increased liquidity by unlocking ETH staked in the Beacon Chain. These updates will further enhance Etheruem’s position in the market, making it a good buy now.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
Binance coin has come a long way since its launch in the summer of 2017. BNB is the native token of the largest crypto exchange, Binance, in terms of trading volume. The primary purpose of BNB is to pay the transaction fees on Binance Smart Chain (BSC), including exchange fees, listing fees, and other fees. One of the main attractions of BNB is that it unlocks discounted trading fees. Exchange users who pay with BNB receive discounts of 10% to 25%.
Binance has a wide and growing ecosystem that spans beyond the exchange. It includes Binance Chain, Binance Academy, Trust Wallet, Binance Research, and Binance Launchpad projects that leverage blockchain technology to provide various financial services.
Binance’s high reputation in the market and continuous improvements in the platform make BNB a top crypto that could boost your portfolio in 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Cardano is one of the fastest-growing and most recognized Ethereum killers in the market. ADA is poised for tremendous growth in 2023 as the network has a series of updates to be launched this year. The crypto is known for its steady growth. Smart contracts were introduced on the blockchain with Alonzo in 2021, and the Vasil hard fork enhanced the crypto's performance and scalability in 2022.
2023 is predicted to be a happening year for Cardano. Starting from the origin of the Oracles on Cardano. Oracles are an advanced tool that releases blockchain protocols from their closed nature and connects with the real world. This will help the protocol connect on and off-chain data seamlessly.
Second is the launch of stablecoins and Cardano’s entry into the DeFi sector. Djed, Cardano's stablecoin, is already launched, marking a significant milestone for COTI, the Cardano ecosystem. Crypto enthusiasts are now waiting for the launch of its second stablecoin, the USDA, this year. With this, Cardano would hit a peak within the DeFi sector, eventually boosting TVL numbers.
Additionally, all hands are also on deck to fast-track and scale Hydra, Cardano’s layer 2 solutions. With low latency and high throughput, Hydra aims to improve transaction speed. All these bode well for the crypto as the community is keenly anticipating these new upgrades and new protocol introduction, making ADA the top crypto that could boost your portfolio through 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Litecoin (LTC)
Litecoin is a peer-to-peer decentralized cryptocurrency with an aim to become the future of global payments. LTC is capable of handling faster payments than Bitcoin. It’s a cheap and extremely safe process of making payments making LTC an ideal crypto for microtransactions. The crypto is thus accepted as a payment method by e-commerce platforms like Shopify and WooCommerce.
Litecoin developers have enhanced the network with several privacy features to strengthen the network’s anonymity. One such feature launched in 2022 is the MimbleWimble which creates single-chain transactions entirely obfuscated by third parties.
A key reason that makes LTC a top crypto that could boost your portfolio through 2023 is the Litecoin halving event scheduled to take place in August 2023. This will see the rewards for miners drop again by another 50% to 6.25 LTC. Halving theoretically reduces the rate of inflation and would push the price of LTC for a solo run in 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Investors are confident about a resurgence in 2023. But, finding the right cryptocurrencies to buy could be a challenging task in this market scenario. To help you with your bearings, these are the top cryptocurrencies that could boost your portfolio through 2023.
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