Top 5 Cryptocurrencies Will Explode In 2023

These are the 5 best Cryptocurrencies.

Last Updated December 29th 2022

11 Min Read

Most experts are in agreement that the top cryptocurrencies to explode in 2023 are Solana, Cardano, Dogecoin, Binance coin & Shiba Inu.

These cryptos have the most potential to give exponential gains in a very short time, and possibly make investors rich.

When looking to invest in crypto, the most important factor to consider is the level of experience.

While experienced investors can experiment with multiple cryptos, new investors should try and focus on strong, fundamentally strong cryptos.

Novice investors should be aware that it takes a little more than buying the best cryptocurrencies. External market factors, and the ability to wait out downturns, matter too.

That said, there are cryptos whose core fundamentals make them attractive to both novice and experienced investors.

Are these the best cryptos to invest in right now? Not necessarily. Not only is predicting the future of even the current top-performing cryptocurrencies a job the pros haven't yet mastered, but the best cryptocurrencies for your portfolio aren't necessarily the best cryptos for someone else's portfolio.

If you want to buy Top crypto assets quickly and easily, check out eToro!

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

Here are the best cryptocurrencies this year:

Top Cryptocurrencies Will Explode In 2023:

Crypto Asset Name	Symbol
Solana	SOL
Cardano	ADA
Dogecoin	DOGE
Binance Coin	BNB
Shiba Inu	SHIB

1. Solana – Can it top $400 by the end of 2023?

Solana has been on the rise for the past few days. While most cryptos are struggling to retest their all-time highs, Solana has surpassed them. Its upside momentum is driven by the successful funding round for Mango Markets, a decentralized exchange that runs on Solana blockchain.

Solana also recently announced that it made some updates to the wormhole. This update makes it possible for different blockchains to be integrated on Solana. The most important of these being the Binance Smart Chain, and NFT markets. The network has also integrated Chainlink, which means smart contracts running on the Solana blockchain can access real-world data that they need for them to run programs that can compete effectively with centralized applications. Most importantly, these innovations have placed Solana in a position where it can effectively compete with Ethereum in the DeFi space.

As things stand, Solana is one of the most efficient platform blockchains in the market today. It has the capacity to process more than 50k transactions per second, with a block time of 0.4 seconds. This efficiency has a lot to do with its consensus algorithm that it uses. Solana uses a Proof-of-History consensus model. This means transactions are given a real-time timestamp, and each of them must be processed in the order that they come in.

This has multiple advantages among them being energy efficiency, while also allowing token holders to validate transactions. It is what helps this network keep transactions superfast compared to other networks.

Given that these are the issues that are holding back most platform blockchains from achieving their full potential, Solana is uniquely positioned for adoption going into the future.

Its price action at the moment shows that investors expect it to perform even better in the future. Considering that DeFi and NFTs are on an exponential growth path, as more of them build on the Solana blockchain, the value of this blockchain will rise over time.

At the moment, it is up by over 80%, and is outpacing Bitcoin, Ethereum and other top cryptos in gains. At its current rate of gains, coupled with the massive developments on the network, Solana could easily rally to over $400 a coin in the short to medium term.

Have you thought of investing in Solana in 2023?

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

2. Cardano – Is $15 within reach in 2023?

Cardano is another crypto that has been performing very well over the past couple of weeks. This has been driven by news that smart contracts will be coming to the Cardano blockchain in a few weeks.

For months now, smart contracts have been running on the testnet. Once they go live on the mainnet, it is expected that Cardano will finally be in a position to take on Ethereum in the DeFi space. Expectations are high because Cardano is technically more advanced than Ethereum. While Ethereum is considered a second-generation blockchain, Cardano is third generation.

Cardano runs on an advanced Proof-of-Stake consensus algorithm called Ouroboros. Ouroboros algorithm is peer-reviewed, and is scientifically secure. It also allows for Cardano to scale without compromising on security. Thanks to this algorithm, Cardano is able to handle up to 200-transactions on-chain. The algorithm also allows for layer two solutions that can make Cardano hit even higher TPS.

For instance, with the hydra layer two solution, Cardano can theoretically handle up to one million transactions per second. This is the same transaction speed that some of the most efficient centralized systems hit at any given time.

Essentially, this means Cardano is not just taking on Ethereum, it is also capable of taking on centralized financial systems, and win. That’s because besides speed, users have the advantage of the security that comes with decentralization.

These are factors that are driving a lot of optimism in the Cardano blockchain. With a market like DeFi set to become a trillion dollar market, Cardano’s demand is only set to grow.

Some conservative estimates give Cardano the potential to hit $15 or thereabout by the end of 2023.

Going into the far future, 5, 10 years from now, Cardano has the potential to trade at over $20 a coin. While this may seem far-fetched in the near-term, one needs to remember that as long as the use case is right, there is nothing impossible in crypto.

In January 2017, Ethereum was trading at $10 a token. Due to high adoption and a strong use case, it hit highs of $4300 in April 2021. This goes to show how big of a deal Cardano can be, once Dapps start building on top of it. It’s definitely one of the best blockchain projects to watch all through 2021 and beyond.

Check Out: Will Cardano Make Me Rich in 10 Years?

Have you thought of investing in Cardano in 2023?

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

3. Dogecoin – Eyeing $1 in 2023?

Dogecoin is another crypto that looks set to explode in 2023. It was one of the best performers in the last Bull Run and is recovering quite well at the moment.

In the past few weeks, it has gained by over 30%, and seems to be holding on to that momentum.

One thing that makes Dogecoin a potentially explosive crypto is that Elon Musk is heavily involved with this crypto. In fact, he was the reason why it rallied in 2020, and in quarter one of 2021. His involvement with it is only getting stronger. This is evident in the fact that he has named the upcoming SpaceX mission after Doge.

The Doge-1 mission will also be fully funded using Dogecoin. Besides the funding aspect of it, the mission, as Musk put it, aims to put a literal Dogecoin on the literal moon. This is probably one of the most awaited events in crypto space, and for good reason. Space has become one of the biggest spotlights for the media recently. It’s evident in the excitement that followed the space tours of Richard Branson and Jeff Bezos. Pretty much all major news media broadcast these events.

The Doge-1 event is set to be even bigger because it is a trip to the moon, and it has Dogecoin written all over it. The impact it will have on this crypto could see it test new highs once the event goes live.

Besides the upcoming trip to the moon, Dogecoin has been attracting the attention of top influential billionaires. Recently, billionaire Mark Cuban said that Dogecoin was the strongest cryptocurrency that can be used as a medium of exchange. That’s a huge validation for a crypto that for many years was considered a joke. It places Dogecoin in a unique position for adoption going into the future.

Dogecoin has already been used in a couple of high value real estate transactions. As its profile rises, so will its value appreciation potential.

Dogecoin doing 10x or more from its current price is within the realms of possibility when all these factors are put into consideration.

Don't Miss: Dogecoin Price Predictions

Have you thought of investing in Dogecoin in 2023?

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

4. Binance coin – Can it hit $2000 this year?

Binance coin is another crypto that has the potential to make big moves in the short term. Since its launch, Binance coin has emerged as one of the best crypto performers ever. It went from just a few pennies in 2017 to over $667 in the April 2021 rally.

Going forward, Binance coin has a lot going for it, and could easily see its value push through $2000 a coin in the short term.

One of the key factors that could push the value of this crypto in the long run is its coin burn feature. Binance coin has a quarterly coin burn, and this has been one of the key factors behind its meteoric rise over the last couple of years. The coin burn means that over time, the supply of BNB has been dropping even as demand rises.

As Binance accelerates the burn of BNB, its value is likely to rocket to $1000 or even more in the foreseeable future.

Binance coin also has a very strong use case, which means its demand stands to remain strong going into the future. It is the crypto that is used for paying fees on Binance, the world’s largest crypto exchange.

Have you thought of investing in Binance Coin in 2023?

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

5. Shiba Inu – Are 500% gains possible within 2023?

Shiba Inu has the potential to easily rally by over 500% going into the future. While its past performance is an attractive factor to it, Shiba Inu has another very important factor to it, and that’s its low price.

There was a time when Mark Cuban said that for psychological reasons, most investors prefer to own whole coins. As Bitcoin, Ethereum and other top cryptos get out of reach for the average investor, cryptos like Shiba Inu will get more attractive.

These cryptos allow investors to own billions of coins with a very low investment. Shiba Inu is among those that have the most potential.

The crypto is among the most popular of the cryptos that cost a little to invest. It also has fundamentals going for it, such as a coin burn feature, and a DEX.

These factors, coupled with an increasingly bullish market, could see its value rocket in the foreseeable future.

Don't Miss: Pros and Cons of Investing in Shiba Inu Coin

Have you thought of investing in Shiba Inu in 2023?

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

Which Are The Best Cryptos To Invest In In 2023?

All the cryptos discussed above are worthwhile investments in 2023. They all have strong fundamentals, and the broader crypto market is on the rise at the moment.

However, one needs to be aware of the fact that cryptocurrencies are inherently risky. For someone who is new to crypto, it is important to note that just because a crypto rallied in the past does not mean it will perform the same way again in the future.

Go for the track record

While cryptos are risky, those that have a track record of growth stand a chance of growth. Cryptos that are well-known, and have strong use cases tend to outperform, despite the volatility of the crypto market.

For someone who wants growth based on adoption, Cardano and Solana are perfect options.

For someone who wants stability, Binance coin is the best option. On the other hand, for someone who wants some risk and growth, Dogecoin and Shiba Inu are perfect options.