What Top 10 Cryptocurrencies Will Explode In 2023?

Last Updated January 5th 2023
9 Min Read

Cryptocurrencies have crashed last year and industry experts expect them to recover. Investors are keen to learn towards the highly volatile cryptocurrency market to yield higher return in the future. They are interested to know which cryptocurrencies will explode in 2023 and beyond.

From Bitcoin and Ethereum and Solana to Shiba and Dogecoin and SafeMoon, there are over 23000 coins are listed in the crypto market, and choosing the best cryptocurrencies to invest in 2023 is not an easy task to do and it can make it harder for investors to get started in the world of digital crypto. Fear not, Trading Education has put a list together of cryptocurrencies that are exploding in popularity.

Which Cryptocurrency Will Rise in 2023?

So, now that you have decided to buy cryptocurrency, the main question is: 'which crypto will bring the highest returns'? With so many crypto assets soaring, many investors are wondering which of the top coins will explode in 2023. Can crypto prices go higher after reaching record levels? Many experts say they can.

Let’s explore some of the top ten next exploding cryptocurrencies in 2023:

Ethereum (ETH)

Ether is one of the top cryptocurrencies set to rise in 2023 as it remains the second-most well-known cryptocurrency and could really shine this year and even steal the spotlight from Bitcoin.

Ethereum is moving to proof-of-stake (PoS). Many mistakenly thought that this was completed in December 2020, but that was just the start of the process.

Moving to PoS will be done over a series of upgrades and is not as simple as flipping a switch. So, while the transition was expected to be completed in 2021, it will likely be finished in early 2023 (optimistically).

But that’s not all. Ethereum is the cradle where literally thousands of crypto projects have been birthed and nurtured. According to Investopedia, as of October 2019, there were more than 200,000 ERC-20 compatible tokens on Ethereum’s network.

And all these projects need Eth to function on the Ethereum network — a handful of which are on this list. And those interested in investing in Ethereum should pay particular attention to the DeFi projects on top of Ethereum, many of which are booming and could pump demand for Ethereum as well.

Connor Brooke of Economy Watch has projected that by the start of 2023, Ethereum will be worth around $5,000 per coin, adding: “The momentum the crypto has, plus the incredible technology, mean this level is certainly likely in the near future”.

Analysis of several Ethereum price forecasters by Jana Kane of LiteForex concluded the following for 2023:

“Ethereum (ETH) Predictions for 2023 vary from the minimum price of $2,451.577 to almost $15,000. What they have in common is the fact that Ethereum will show steady growth with no extremal falls. The speed of this growth is what the sources see differently. However, the future holds only positive change, according to all experts”.

Read our Ethereum (ETH) price predictions here.

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

Bitcoin (BTC)

Bitcoin is set to explode in 2023 as institutions continue to pour money into BTC and continue to create new investment products for investors, exposing them to Bitcoin without actually owning the product. What this does is create a much larger demand for BTC which will only ever pump up the price of BTC.

Bitcoin also is the least risky investment on this list because it is the most popular and institutional investment makes it safer. According to a survey by the FCA (the UK Financial Conduct Authority), Bitcoin is the most recognisable crypto in the UK with 82% of respondents knowing of Bitcoin in 2021.

According to Connor Brooke of Economy Watch, BTC could start 2023 at around $50,000, breaching its current ATH of $64,863.10, but this would require “a final bullish push” towards the end of 2023.

Elsewhere, according to Reuters, Standard Chartered’s cryptocurrency research team has predicted that BTC could be worth $100,000 in summer 2023 and “that it could be worth as much as $175,000 longer-term”.

And by the end of 2023, billionaire venture capitalist Tim Draper believes Bitcoin could be worth $250,000. In the past, Draper has made correct predictions. In 2014 he predicted that BTC would be trading at $10k per coin which did indeed happen (albeit momentarily) in 2017.

Read our Bitcoin (BTC) price predictions here.

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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)

It is one of the top cryptocurrencies to explode in 2023 because not only could it end up crushing centralised exchanges, such as Binance, but it could also cause a lot of trouble for brokers, particularly market makers, who profit from fulfilling trades.

Uniswap is the second-largest DeFi project in the crypto market by market cap according to CoinMarketCap and the second-largest DEX in terms of total value locked (TVL) according to DeFi Pulse. 2021 was Uniswap’s greatest year so far, momentarily making it into the top 10 cryptos by market cap and currently sits at number 12.

While several other exchanges offer similar features, Uniswap is moving into tokenising assets, such as stocks or pretty much anything. So many assets have been tokenised on Uniswap, they even had to create ‘Token Lists’ to help filter out the different assets.

On top of this, Uniswap also operates liquidity pools where investors pool their assets in a smart contract on the Ethereum blockchain and earn from the transaction fees. All this is very enticing to investors, particularly as the DeFi market grows exponentially.

But by far the biggest reason why Uniswap could explode in 2023 is that big-name investors are starting to get involved. Most recently, in October 2021, Grayscale Investments added UNI to its ‘Digital Large Cap Fund’ portfolio of which it now comprises 1.06%, reducing their holdings in LTC and BCH to do so, as reported by Arijit Sarkar of the Cointelegraph.

Syedur Rahman adds to this, saying that: “it is hard to imagine that the FCA would even begin to comprehend, let alone regulate, DeFi lending and the likes of Uniswap”. Effectively, for the time being, regulators will likely not be able to regulate Uniswap properly and therefore, have a limited impact.

Conner Brooke of Economy Watch states that his analysis suggests that Uniswap could start 2023 at $46 per UNI while David Cox of CryptoNewsZ has suggested that at some point, possibly in 2023, UNI will hit $61, though there could be a sharp correction in October 2023.

Elsewhere, Ananthi Reeta of CoinQuora has optimistically speculated that UNI could reach $70 by the end of 2023 with a high of $75 in the first half of the year.

Read our Uniswap (UNI) price predictions here.

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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)

Relatively unknown by many until recently, Avalanche could be a major threat to Ethereum’s dominance as the top smart contract/dApp platform. And it is one of the top cryptocurrencies to explode in 2023 and beyond.

What makes Avalanche an excellent contender to defeat Ethereum is that it allows users to build their own customisable blockchain projects called ‘subnets’.

This is a huge advantage over Ethereum because it allows companies and organisations to create their own rules and logic and interconnect their projects with others in the Avalanche ecosystem. It offers far more flexibility than Ethereum and even supports the Ethereum Virtual Machine (EVM) and Polkadot’s WASM making Avalanche compatible with other blockchains.

Other major benefits include Avalanche’s proof-of-stake algorithm and its quick expansion into DeFi. In August 2021, the Avalanche Foundation announced the creation of the $180 million Avalanche Rush incentive program to grow Avalanche’s DeFi ecosystem.

All good news so far. But perhaps the biggest indication that Avalanche could explode in 2023 is that a huge number of projects were launched on their platform in 2021. This immensely fast growth could continue into 2023 and cause a surge in demand.

Ananthi Reeta of CoinQuora says that Avalanche is expected to reach $150 by 2023 and will likely end 2023 at $120. They note that no major falls are expected, and that upcoming partnerships and developments will play a role, but $120 could still be optimistic.

Elena R of CoinPedia has made a similar projection, though a little more grounded, stating that $100 at the end of 2023 could be a possibility. Conversely, they give Avalanche a potential high of $72.25 and a potential low of $54.56 for 2023.

Lastly, experts have projected for 2023 that AVAX could reach a price of $170.90 at the lowest and $286.82 at the highest in 2023.

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

Cardano (ADA)

It is one of the cryptocurrencies to explode in 2023 because it has finally implementing smart contracts in September 2021, Cardano is essentially just waiting around for some big names to jump on their platform and start using them, and when this happens, we could see a massive price increase.

One of the most important things to remember about crypto is that adoption drives up prices (as we hinted at with Avalanche). Cardano is already working on this.

Connor Brooke of Economy Watch has claimed that Cardano may experience a push upwards before the start of 2023 and if this continues into 2023, Cardano could reach $7-$10 per ADA token.

David Cox of CryptoNewsZ foresees that at some point between 2021 and 2023, ADA could reach $3 and claim it as a new level of resistance, but there may be a sharp correction in October 2023.

Lastly, Elena R of Coinpedia has suggested that 2023 could be a bullish year for Cardano and that it could trade between $5.244 and $7.342 if smart contracts are successful. However, if 2023 ends poorly $2.298 to $2.521 might be more reasonable.

They also propose that if the debate about the environment continues, ADA could reach $15.17 because it is seen as a good alternative to Bitcoin. But if traders lose interest in ADA, $3.99 could be a possibility.

Read our Cardano (ADA) price predictions here.

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

Polkadot (DOT)

Polkadot is another serious contender to replace Ethereum in 2023 as one of the fastest-growing smart contract, dApp platforms. In 2021, it gained a lot of popularity, particularly at the beginning of the year.

Founded by Dr Gavin Wood, one of the many co-founders of Ethereum (Vitalik Buterin didn’t do it all by himself!) and the creator of Solidity — Ethereum’s coding language for smart contracts — Polkadot seeks to create an ecosystem of blockchains and is sometimes called ‘the blockchain of blockchains’.

According to Shawn Du’Memett of Cryptopolitan, by the end of 2023 Polkadot could be priced around $400 (if not, then by 2023). Note that this is eight times DOT’s ATH.

However, more realistically, David Cox of CryptoNewsZ has suggested that a price of $65 by the end of 2023 is more likely for Polkadot, based on historical data.

Lastly, Previsioni Bitcoin has forecast that Polkadot could start 2023 at a minimum price of $143.23, reach a maximum price of $198.32 in May and close December at $154.25.

Read our Polkadot (DOT) price predictions here.

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

Aave (AAVE)

Aave is one of the top cryptocurrencies to explode and it is the top crypto-lending platform and stands to grow immensely as DeFi bludgeons onwards and upwards in 2023.

Aave stands out from the array of other crypto-lending platforms because of its unique lending products that offer both borrowers and lenders a variety of different ways to borrow from each other.

According to DeFi Pulse, Aave dominates 15.16% of the DeFi market, the largest. This means that Aave is well-positioned to benefit from the continued growth of DeFi in 2023.

In 2021, Aave was noted as a hedge fund’s favourite to trade. According to PwC’s 3rd Annual Global Crypto Hedge Fund 2021 report, Aave is the fifth most traded altcoin by crypto hedge funds with 27% trading AAVE.

This is interesting news that likely suggests that Aave could be a lot more liquid than other cryptocurrencies and that institutional investors may look to pour more money into AAVE in 2023.

AAVE price prediction has suggested that an optimistic price of $950 could be possible in 2023 with Aave’s growing partnerships and alliances and community funding. This is three times more than Aave’s current value.

Ananthi Reeta of CoinQuora has calculated a price between the two, stating that by the end of 2023 Aave will have a price of $700 with the possibility of reaching $750 midway through the year.

Read our Aave (AAVE) price predictions here.

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

Maker (MKR)

Maker can be one of the top exploding cryptocurrencies in 2023. It’s success largely depends on the adoption of Dai (DAI), one of the oldest and most well-known stablecoins pegged to the US dollar, which, interestingly, has more active users than Tether (USDT), despite a much lower market cap.

In 2023, Maker could quite literally explode as it plans to dissolve the Maker Foundation in late 2021, as reported by Samuel Haig of Cointelegraph in July 2021. This will effectively mean Maker will be one of the most decentralised cryptocurrencies (if not the most), with control firmly in the hands of token holders.

Maker price prediction has stated that an optimistic $9,500 could be possible for Maker in 2023 while Conner Brooke of Economy Watch suggests a perhaps more reasonable $5,000 at the beginning of 2023.

Price Prediction has given a more thorough forecast, estimating that for 2023, Maker will have a minimum price of 3,777.95, an average price of $3,912.61, and a maximum price of $4,573.98.

Read our Maker (MKR) price predictions here.

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

Axie Infinity (AXS)

Axie Infinity is the most popular blockchain game to date and many in the crypto community are super bullish about its future.

Axie Infinity has performed exceptionally well in mid and late 2021 and shot up to become the 22nd largest cryptocurrency by market cap.

The reasoning behind this huge leap is NFTs which are a big part of Axie Infinity. ‘Axies’ are creatures that can be collected in Axie Infinity and each Axie is an NFT. As commercial interest in NFTs boomed in 2021, investors became interested in Axie Infinity too and it will likely continue into 2023.

Price forecasts for Axie Infinity are notably bullish, though there is disagreement over how high this asset could go in 2023.

Price Forecast has given Axie Infinity a minimum price of $208.50, a maximum price of $254.70, and an average price of $214.58 for 2023. All of which are above AXS’s current price.

Ananthi Reeta of CoinQuora also suggests that a price between $200 and $250 is possible in 2023, which is similar to Price Forecast’s estimate.

Read our Axie Infinity (AXS) price predictions here.

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

Compound (COMP)

Compound has started grabbing attention recently in the crypto market and is one of the top cryptocurrencies to explode in 2023. It stands out from Aave in that the crypto you deposit is pooled with others to create lending pools.

While Aave has a variety of lending products to choose from, Compound is quite simple — you deposit crypto to the pool, receive back a ‘cToken’ (e.g., cBTC, cETH) and later on, when you want your crypto back, you return the cToken and receive your crypto with interest added.

David Cox of CryptoNewsZ says Compound could reach a minimum price of $600 in 2023, noting that Compound has sometimes been quite sluggish.

On a more positive note, Connor Brooke of Economy Watch states that their analysis speculates Compound could be valued at $910 at the beginning of 2023.

WalletInvestor gives a more varied, albeit bullish, outlook for Compound in 2023, calculating that it could achieve a minimum price of $707.966, an average price of $544.690 and a maximum price of $864.545 by the end of 2023.

Read our Compound (COMP) price predictions here.

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

To Recap, Cryptocurrencies To Explode In 2023:

Symbol Cryptocurrency Name
ETH Ethereum
BTC Bitcoin
UNI Uniswap
AVAX Avalanche
ADA Cardano
DOT Polkadot
MKR Maker
AXS Axie Infinity
COMP Compound


There are now over 15,000 new coins that may rise in 2023, but the most popular cryptocurrencies like Bitcoin, Ethereum or Solana will be the safest bet when it comes to the potential return. 

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


What Cryptocurrency Will Explode In 2023 and beyond?

Ethereum is the most likely cryptocurrency to explode and rise in value in 2023 as it has the most going for it — vast ecosystem, the most DeFi projects, second-most well-known crypto, and will soon complete its transition to proof-of-stake.

What Is the Best Cryptocurrency To Buy in 2023?

Bitcoin has become a must-have cryptocurrency and is widely seen as the safest investment in the crypto market with many comparing it to gold.

What Will Be The Fastest Growing Cryptocurrency In 2023?

Avalanche has the potential to be the fastest-growing cryptocurrency in 2023 because of how quickly its ecosystem has developed in the last year. Furthermore, as a proof-of-stake crypto that offers customisable blockchain projects and a growing DeFi presence, there’s not much standing in its way.