Ethereum, Solana, and Dogecoin could be good investments to buy for investors who find BTC too expensive.
Since its launch in 2009, Bitcoin has dominated the cryptocurrency market. However, Bitcoin’s dominance continues to drop as new, highly innovative cryptocurrencies enter the market. For instance, at the beginning of 2021, Bitcoin’s dominance was at 73%. Today, it stands at 41.5%.
While it is still one of the most adopted cryptocurrencies in the market, Bitcoin has many challenges driving investors away. For instance, it is slow and has higher transaction fees than many other cryptocurrencies today. Bitcoin is also too expensive for beginner traders with little to invest in crypto.
As investors move away from Bitcoin, Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) are among the top 3 cryptocurrencies that could be good investments in 2023 and beyond.
Solana (SOL)
Solana is a new blockchain that has earned the nickname “Ethereum Killer” for its fast speeds and low transaction costs. Solana’s technical capabilities have seen it gain traction in DeFi and NFTs in a little over a year.
Solana prides itself in the capacity to handle up to 50k transactions per second. As Solana continues to see growth, especially in the NFTs space, the same will reflect in the value of SOL tokens. For this reason, Solana is a top 5 cryptocurrency asset to buy in 2023. It is a cryptocurrency that could make you millions in 2023.
Check Out: Solana (SOL) Price Prediction
Ethereum (ETH)
Ethereum is the second-largest cryptocurrency by market capitalization and takes the lion’s share of the DeFi market. Ethereum has faced scaling challenges in the last few years due to its growing adoption.
Ethereum developers have been working hard to solve these issues by transitioning Ethereum from Proof-of-Work to a Proof-of-Stake blockchain. The process is almost complete and will see Ethereum rely more on layer-2 solutions to complete transactions.
The move to Ethereum 2.0 has also made Ethereum deflationary. This means over time; demand will be chasing a declining number of Ether tokens. If the law of demand and supply is anything to go by, Ethereum is a growth crypto asset that could make investors millions in 2023 and beyond.
Read Also: Ethereum (ETH) Price Prediction
Dogecoin (DOGE)
DOGE is the oldest meme coin and also one of the most popular. Dogecoin shot to prominence in 2020 after Elon Musk started tweeting about it, triggering a price rally that lasted into 2021. While Dogecoin is yet to retest the highs it hit in May 2021; there is every reason to believe in Dogecoin as a top growth cryptocurrency that can make investors millions in 2023.
For instance, many investors are still expectant that Dogecoin could still retest its 2021 prices or more. This factor could trigger FOMO in DOGE, especially as it draws investors looking for cheap cryptocurrencies to invest in ahead of the next Bull Run.
At the same time, Dogecoin adoption is on the rise, and with Elon Musk affirming that he won’t be selling, the future looks bright.
Don't Miss: Dogecoin (DOGE) Price Prediction
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