Blockchain technology and cryptocurrencies have undoubtedly disrupted the world of finance significantly. As digital assets gain more traction, corporate giants, investors and traders are all accumulating cryptocurrencies alike.
This has led to a swarm of emerging virtual assets in the crypto market. Based on key considerations such as longevity, price history, network updates, etc., here are the top 9 cryptocurrencies to buy in 2023 with a huge potential return.
Let’s have a look at the top digital assets that are likely to rally significantly in the near future.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
List Of Top 9 Cryptocurrencies To Buy In 2023 With A Huge Potential Return
Several crypto coins have experienced significant, consistent growth in the past and are likely to remain a part of mainstream adoption. Below are the top 9 cryptocurrencies with substantial growth potential for 2023 and beyond.
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Chainlink (LINK)
- Cardano (ADA)
- TRON (TRX)
- Bitcoin Cash (BCH)
- Stellar (XLM)
1. Bitcoin (BTC)
Date Created: January 2009
Created By: Satoshi Nakamoto
Peak Price: $68,789
Circulating Supply: 18,992,250
Max Supply: 21,000,000
Description
Bitcoin, the first-ever cryptocurrency, is one of the most popular digital assets out there. Several altcoins emerged following the footsteps of Bitcoin. BTC was the first to solve the double-spend issue with a proof of work (PoW) consensus algorithm and mining process in place. The flagship cryptocurrency’s first-mover advantage has helped it remain the top crypto by demand, adoption, and market capitalization.
Why Bitcoin is Famous
BTC’s first mover advantage gives the asset the most visibility in the crypto space. It also enjoys solid regulatory support.
Global institutions are increasingly accumulating Bitcoin, expecting it to act as a hedge and outperform other traditional assets such as gold, stocks, etc. Evidently, no other crypto asset has performed as well as Bitcoin has.
Brief Price History
After its inception, Bitcoin was initially practically worthless. However, it rose to $30, only to crash by over 90%, back down to $2. From $2, it exploded to $1,200 and dropped by more than 90% once again.
When it recovered, in 2017, the cryptocurrency once again rallied to reach around $20,000 per coin, making it a household name. Notably, Bitcoin is now more than three times the former peak. Many experts expect BTC to potentially millions per coin eventually. Institutional adoption is mainly driving the present bull market.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Ethererum (ETH)
Date Created: July 2015
Created By: Vitalik Buterin
Peak Price: $4,891
Circulating Supply: 120,087,868
Max Supply: NA
Description
Ethereum is the most famous altcoin, just after Bitcoin, in terms of overall cryptocurrency market share. Ether is the native token of the Ethereum blockchain, a layer one protocol on top of which most other altcoins in the market are built, using the ERC-20 standard. Even though it came out years after some other cryptocurrencies, it has far exceeded its place in the market because of its unique technology.
Why Ethereum is Famous
The Ethereum network is famous because it has great potential. Most decentralized finance (DeFi) applications and other altcoins are built on top of Ethereum, making it incredibly desired despite high ETH gas fees. Any digital asset built on the Ethereum blockchain relies on ETH in some manner, making ETH more valuable.
Brief Price History
Ethereum began as an ICO. After starting trading at low prices in 2016, Ethereum has only been surging in price since. From under $1, ETH skyrocketed to $1,400 per coin, only to drop by 94% to $80. In November ETH surpassed its previous all-time high to surge past the $4,800 price mark.
Check Out: Ethereum Price Prediction - Will ETH Value Rise?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Litecoin (LTC)
Date Created: October 2011
Created By: Charlie Lee
Peak Price: $412
Circulating Supply: 69,911,356
Max Supply: 84,000,000
Description
LTC hit the crypto market around the same time as BTC. Although Litecoin did not take off in the same way, it processes transactions four times faster than Bitcoin. Litecoin aims to offer the same benefits as Bitcoin but in a much faster manner. Litecoin even goes through a hard-coded halving scheduled every four years or so, similar to Bitcoin.
Why Litecoin is Famous
Litecoin is generally considered as “digital silver,” similar to how Bitcoin is known as “digital gold,” and with reason. Silver hasn’t had the same bull run the way gold did, and Litecoin has performed similarly. However, this situation has made Litecoin a lucrative trade in the crypto market.
Brief Price History
Like most cryptocurrencies, LTC started off trading at just pennies. However, the asset reached an all-time high of $412 after a while. It appears that a similar situation is brewing once again, with LTC taking some time to set a new high. When it does break out, it is likely to soar significantly.
Read Also: Could Litecoin Be A Millionaire-Maker Coin?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
4. Ripple (XRP)
Date Created: 2012
Created By: Ripple Labs
Peak Price: $3.84
Circulating Supply: 48,121,609,012
Max Supply: 100,000,000,000
Description
Rippld is the native cryptocurrency token of the Ripple blockchain platform, created by Ripple Labs. The coin is primarily used for cross-border settlements and is well-known for fast transactions. Ripple claims that XRP has disrupted Swift bank transfers and Western Union, among others.
Why Ripple is Famous
XRP is a renowned cryptocurrency in part because of how strong its breakout has been in the past. During the last bull market, It reportedly brought more ROI to investors than any other coin. However, so far, XRP has not materialized many gains during this bull market. But this can be attributed to the ongoing lawsuit between the US Securities and Exchange Commission (SEC) and Ripple and its executives.
Brief Price History
Ripple is well-known for its rare but explosive price movements that surprise the crypto world. For instance, Ripple surged from under a penny to $3.58 per token in just one year before dropping 99% because of how strong the move was. At the moment, it’s stuck at around $0.85.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
5. Chainlink (LINK)
Date Created: 2017
Created By: Sergey Nazarov
Peak Price: $52.88
Circulating Supply: 467,009,550
Max Supply: 1,000,000,000
Description
The Chainlink decentralized oracle network is one of the leading on-chain providers that permit smart contracts on Ethereum to securely connect to external data sources. Chainlink’s native token, LINK, is unique as a cryptocurrency because of its attractive price. While the tokens are affordable to buy, they’re also valued high enough not to be considered coins equivalent to penny stocks.
Why Chainlink is Famous
Chainlink's pricing structure is attractive to traders and investors because it has proven that it can increase in value, and there is still a lot of room for growth. Chainlink aims to help fund the development of the Chainlink protocol. Just like BTC and ETH serve as an incentive for users to mine, LINK does the same.
Brief Price History
Chainlink was funded with an ICO, and it was trading around $0.1 in 2017. Later, the coin eventually grew to reach $2.24 when it was listed on Coinbase.
By the time LINK appeared on the exchange, it had reached $4.45. After several ups and downs, LINK was trading at $11.14 last year. The asset recorded a new all-time-high by hitting $52 in 2021.
Read More: Chainlink Price Prediction: Will LINK Value Increase?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
6. Cardano (ADA)
Date Created: 2015
Created By: IOHK
Peak Price: $3.10
Circulating Supply: 33,713,328,193
Max Supply: 45,000,000,000
Description
Cardano is a popular blockchain network and open source project that aims to create a completely decentralized public blockchain platform for smart contracts. ADA is the native cryptocurrency token of Cardano. Cardano attempts to tackle some common issues facing large-scale blockchain adoption, such as scalability, interoperability, and sustainability.
Why Cardano is Popular
Cardano earned worldwide media attention as the first blockchain network to implement a peer-reviewed research strategy into its core principles. The platform boasts a smaller footprint, which is appealing to investors for several reasons.
It takes less energy to complete a transaction on Cardano when compared to larger networks like Bitcoin. This also means that transactions are faster and cheaper. The network also claims to be more secure and adaptable. The Cardano team is consistently working to improve its developments to stay ahead of bad actors.
Brief Price History
Following the cryptocurrency rally in 2017, ADA surged from just $0.02 in October 2017 to $1.33 on January 4, 2018, shocking the crypto community. After that, ADA fell to as low as $0.025 on Black Thursday in March 2020. In 2020, Cardano had another massive breakout alongside the rest of the cryptocurrency market. It is now back in the top ten cryptocurrencies by market cap hitting its all-time high at 3.10 in September.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
7. TRON (TRX)
Date Created: 2017
Created By: Justin Sun
Peak Price: $0.30
Circulating Supply: 101,704,058,316
Max Supply: NA
Description
TRON is a decentralized platform that enables decentralized app (dApp) developers to create and employ complex protocols through smart contracts on its native blockchain. TRON’s native token TRX leveraged this community support and its unique technical aspects to become one of the top ten cryptocurrencies in just two years.
Why TRON is Popular
TRON is best known for its high transaction speeds and its lively CEO, Justin Sun. The network is capable of processing around 2000 transactions per second (TPS). This performance has put TRX on par with other major payment processors like PayPal. What’s more, TRON has zero transaction fees.
Brief Price History
At inception, TRON was valued at $0.002, and post-issuance of the coin, the price of TRX surged to $0.05 in December 2017. January 2018 witnessed one of the highest escalations in price to $0.30. But this trend did not last long and fell to $0.03-0.04.
According to the technical price analysis, the TRX price shows a significant recovery, showing a bullish pattern supported by a steady growth despite adverse market trends. At the time of writing, TRX is trading at $0.076.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
8. Bitcoin Cash (BCH)
Date Created: August 2017
Created By: Bitcoin Blockchain Hard Fork
Peak Price: $4,355
Circulating Supply: 19,017,100
Max Supply: 21,000,000
Description
Bitcoin Cash is a peer-to-peer electronic cash system resulting from a hard fork from the Bitcoin blockchain. Bitcoin Cash is by far the most successful hard fork of Bitcoin. After battling controversies, BCH emerged as one of the top 10 digital assets in the world in terms of market cap.
Why Bitcoin Cash is Popular
Bitcoin Cash is faster than the original Bitcoin and has some of the most important supporters in the crypto industry behind it. Bitcoin Cash is working to fight scalability issues encountered on the Bitcoin blockchain. BCH is also easier to mine when compared to its predecessor, thanks to the integration of new protocols.
Brief Price History
BCH had a wild ride in terms of its price swings and volatility initially, but from the end of 2018, the price has been less volatile. Following its $3,000+ high, BCH dropped back down to the lower reaches of $600 in April 2018, only to spike to $1,700 the next month.
Don't Miss: Bitcoin Cash Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
9. Stellar (XLM)
Date Created: July 2014
Created By: Jed McCaleb
Peak Price: $0.93
Circulating Supply: 24,650,265,567
Max Supply: 50,001,806,812
Description
XLM is a cross-border payment coin similar to XRP and shares many similarities with Ripple. XLM focuses on providing the unbanked with banking solutions. Stellar claims to seamlessly connect individuals, institutions, and payment systems around the world.
Why XLM is Popular
XLM has a very low price point compared to other altcoins and Bitcoin, making it particularly attractive to new investors. The Stellar ecosystem is widely known for its fast, affordable, and reliable transfer capabilities. The platform enables frictionless cross-border transactions.
Brief Price History
In January 2018, XLM reached an all-time of $0.93. After the token set the high in early 2018, it fell into a bear market and lost much of its value. By the end of the year, it had dropped by over 91% to just $0.09. It began recovery, but the Black Thursday market collapse took XLM to a low of $0.03. However, the coin is rising again now, along with the rest of the crypto market.
Check Out: Stellar Lumens Price Predictions: Will XLM Go Up In Value
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Top 9 Cryptocurrencies To Buy In 2023 With A Huge Potential Return
While Bitcoin and Ether remain the top cryptocurrencies in the market, it’s evident that there are many altcoins that are steadily rising in price and are all set to a bull case in 2023. Although these crypto-assets are far from being used every day as a payment means, they are starting to gain adoption and mainstream media attention.
Investing in any of the top 9 digital assets is likely to bring investors huge returns. Traders and investors are advised to keep in mind key considerations such as trading fees, transaction speeds, etc., before investing in cryptocurrencies.
In Summary
It has been made evident that investors cannot ignore the popularity, market dominance, and relevance in the cryptocurrency ecosystem.
This article aims to introduce you to the top nine cryptocurrencies that carry substantial potential returns. These coins have experienced significant growth in the past and are likely to continue to scale.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
FAQs
What is the most commonly used cryptocurrency?
ETH and BTC are the two most used cryptocurrencies. Thanks to the recent DeFi boom, Ether has surpassed Bitcoin usage. ETH is needed for just about all DeFi transactions.
What crypto will explode in 2023?
Most crypto assets in the market can potentially explode in 2023. Assets like LTC, ADA, and XRP are likely to set their new all-time highs this year.
Which is the best cryptocurrency to buy in 2023?
The best cryptocurrency to buy depends on the investor and their priorities. However, new investors are advised to start their crypto investment with popular assets like BTC or ETH taking on more risk over time with more coins.
Which cryptocurrency has the best future?
The digital asset with the brightest future is most likely to remain Bitcoin because of its ability to become the global reserve currency and replacing gold and the USD.