Cryptocurrencies come and cryptocurrencies go. Only a select few have any staying power. But if you’re able to invest in these select few early on, you stand to receive a substantial return on your investment.
So, you might be wondering: what are the cryptocurrencies that seem poised for success in 2023? What are the trending cryptocurrencies?
Based on current metrics, they include the following:
We’ll start with BNB Coin. This cryptocurrency has grown increasingly popular over the last few years. This is due, in large part, to its use on the Binance Exchange, of which it’s native.
The Binance Exchange is the world’s most popular cryptocurrency exchange. Therefore, it stands to reason that its native cryptocurrency would go on to be a success. People use BNB coins not only for paying fees on the exchange but for actual trading as well.
The value of BNB coin has fluctuated quite a bit over the last 2 years, and it’s lower than it was in both 2021 and 2022. However, because of its status as a utility token in the BNB Smart Chain, it’s likely to be used frequently in the building of Web3 dApps. That should help to increase its value over the coming years.
Bitcoin is the most popular cryptocurrency in the world. At this point, it’s something of a household name. While its value certainly fluctuates — as does the value of all cryptocurrency — it’s almost undoubtedly going to remain at the top of the cryptocurrency heap.
Currently, Bitcoin leads all other cryptocurrencies in terms of active monthly users, second-layer chain projections, number of exchanges, and custodial services. There’s no reason to believe that this will all fall apart overnight. Therefore, it’s still a cryptocurrency worth investing in.
Yes, Bitcoin cooled down substantially in 2022. However, seismic inflation is likely to have been the driver of that. Most project the cryptocurrency to increase in value over 2023, and then even more in 2024. It’s actually up 28% through the first half of January.
The next cryptocurrency we’ll discuss is MCADE. MCADE is a token for its native gaming platform, Metacade. In other words, this cryptocurrency is used to purchase pay-to-play games and make other transactions on the platform.
Note, though, that by playing games on Metacade, you can also earn MCADE tokens. You can also win them by winning community-held tournaments as well as by topping game leaderboards and more.
There are 2 billion MCADE tokens available. 70% of these were sold during a December 2022 presale. The other 30% of them will be used for development and funding.
Dogecoin was created as a joke to poke fun at existing cryptocurrencies. Nonetheless, it’s gained some traction online, specifically throughout the meme community. As such, it’s a cryptocurrency you should look out for in 2023.
While it doesn’t possess the value of some of the other cryptocurrencies on this list, it does have the potential to provide you with a positive return on your investment. It’s available for around a penny per coin and is therefore a viable investment option for just about anybody.
But why should you trust Dogecoin to remain popular, despite its low value? Namely, because it’s “in” right now. It’s highly talked about across the internet and therefore stands to remain relevant for the foreseeable future.
Next up is Stellar. Stellar is a blockchain-centered payment network that enables quick transactions at an exceedingly lost cost. While it facilitates domestic transactions, it’s most beneficial for international transactions.
See, international transactions are generally fairly costly. Not to mention, due to arduous processing processes, they can take a while to successfully complete.
But Stellar combats these problems directly. Not only does it allow for overseas transactions to be completed in mere seconds but it also charges exceedingly low fees to facilitate such. At its current rate, it could complete around a million transactions for less than a dollar.
This makes Stellar incredibly valuable to businesses the world over. It also, of course, means that its cryptocurrency has the potential to skyrocket in value over the coming years. So, if you’re looking to invest in 2023, you should give it some attention.
Operating on the Ethereum blockchain, Uniswap is the top decentralized cryptocurrency exchange on the platform. This gives it tremendous prominence in the crypto world.
It’s commonly traded on centralized exchanges, including but not limited to Binance and Coinbase. The reason for its popularity? It provides an automated exchange, allowing trades to go through in a rapid manner that combats liquidity.
Nonetheless, it’s extremely safe and secure. This is because it takes place on the reliable and reputable Ethereum blockchain.
Whenever crypto prices are volatile, you can be sure that Uniswap is going to be traded at high volumes. So, in essence, it’s almost always a safe bet.
Another cryptocurrency to consider if you’re investing in crypto is IOTA. IOTA is a transactional ledger that helps to accept payments through Internet of Things (IoT) devices.
What differentiates it from other ledgers? It doesn’t use blockchain technology. Instead, it makes use of an acyclic graph, the likes of which can store substantially more transactions than can standard blockchain technology.
This is hugely beneficial, as it allows for almost endless scalability. Therefore, as companies grow, they’ll be able to save money.
We should also note that IOTA transactions can be completed without fees. This will save companies even more money, offering them an even greater incentive to choose IOTA over other ledgers.
All of this, of course, gives IOTA crypto huge investment potential. Invest in it now and it could pay huge dividends over the coming years.
Polygon is a blockchain that helps in the scaling and connection of blockchain networks. It is Ethereum’s most popular scaling option, and, therefore, rises in success as Ethereum rises in success.
Ethereum’s success has been rising over the past year. This is due, in large part, to the development of its dApps. As these have grown in prominence, so too has Polygon.
Currently, Polygon cryptocurrency is available for around a penny. Therefore, by investing in it now, you have the potential to get a substantial return on your investment.
Ethereum is the most popular decentralized blockchain network in existence. However, there’s a new blockchain network that’s slowly closing in on Ethereum. It’s called Avalanche, and its cryptocurrency is definitely one that you’ll want to keep an eye on in 2023.
Why does Avalanche crypto figure to take off in 2023? Because Avalanche is fast; really fast. It’s said to process around 4,500 transactions per second. Ethereum, by comparison, can only process around 14 transactions per second.
So, while Ethereum will struggle to handle large workloads, Avalanche will do so with ease. This makes it highly valuable to dApps developers and means that it’s likely to grow substantially in 2023.
Also key to Avalanche’s success is the fact that it’s connected to Ethereum Virtual Machine, the software upon which dApps developers develop dApps. Because developers are used to this software, they’re more likely to use it over other options. And because Avalanche is both faster and cheaper to use than the Ethereum blockchain, it comes out to be a better option overall.
Obviously, there’s no 100% certainty in the success of any cryptocurrency. However, you can fairly safely bet that this one is going to take off in 2023.
The last cryptocurrency you should consider adding to your crypto strategy is Algorand. Algorand is similar to Avalanche in that it can be used to build dApps. However, whereas Avalanche is a general platform, Algorand caters to the financial industry.
There are a number of positive features included with Algorand. For one, it’s fast and capable of processing 6,000 transactions per second. For two, as a layer-1 blockchain, it has the ability to connect various blockchain networks, making for simpler transactions from network to network.
This all stands to benefit companies within the financial industry. As such, there’s a good chance that Algorand’s stock will grow.
If you’re looking for a cryptocurrency to invest in that will show growth over the next few years, this is a solid bet.
Learn More About These Trending Cryptocurrencies
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