Throughout the world, 2022 has been a wild journey for cryptocurrencies. The abrupt collapse of FTX, one of the biggest cryptocurrency exchanges, has not only turned the sector on its head but also highlighted numerous concerns about the functionality, transparency, and rules governing the global cryptocurrency market.
But we can’t deny that cryptocurrencies are a permanent fixture. There are various cryptocurrencies on the market that hold long-term viability and can be viewed as a wonderful investment opportunity in 2023.
As a result of the exponential expansion of non-fungible tokens (NFT), play-to-earn, decentralized finance (DeFi), and smart contract applications.
In reality, market turbulence can work as a wise opportunity to purchase cryptocurrency gems at a huge discount.
We have outlined the potential of the finest digital currencies in this article, which will make it easier for you to assess a cryptocurrency’s value before making an investment in it in 2023.
Despite the current ambiguity and unpredictability of the cryptocurrency market, Bitcoin continues to dominate it in terms of market value and trading volume.
The most well-known and significant cryptocurrency in the world is now widely acknowledged to be Bitcoin. In fact, a vast number of institutions, businesses, and even nations, both large and small, have begun to accept Bitcoin as a valid form of payment.
A few large companies, including Microsoft, AT&T, Burger King, and AMC, have accepted Bitcoin as a valid form of payment.
Longer term, Bitcoin has steadily increased over time and provided enormous returns to its investors. Bitcoin’s initial recorded price was $0.003, and since then, it has grown to a peak of $60,000 in 2021. Bitcoin is more and more popular among cryptocurrency investors due to its restricted quantity.
However, with all the unfavorable news in 2022, there have been significant sell-offs and significant market volatility, but Bitcoin has always been able to recover. Bitcoin can undoubtedly be your best bet in 2023 for long-term holders (HODLers).
(D2T) Dash 2 Trade
Dash 2 Trade (D2T) is poised to soar in 2023 thanks to a successful presale that took place in 2022, despite a severe market downturn for cryptocurrencies.
D2T, a powerful and reliable crypto analytics tool that has raised millions of dollars since its presale began, might be the finest investment in 2023.
D2T has a lot of promise because it intends to offer information and a variety of tools that enhance trading at all skill levels, from novice to expert, by utilizing social trading alternatives and creating world-class dashboards.
This platform has also introduced comprehensive charting tools, on-chain measurements, trading indicators, and real-time crypto market statistics that are displayed on its dashboards.
With all of these clever features and uses, D2T is a cryptocurrency that must be purchased in 2023.
Without mentioning Ethereum, no top-performing cryptocurrency list is complete (ETH). After Bitcoin, Ethereum is thought to be the second-largest cryptocurrency in the world. Numerous decentralized applications are only possible because to Ethereum.
The Ethereum blockchain serves as a testing environment for DeFi and smart contract developers, and numerous cryptocurrencies, like Shiba Inu (SHIB), The Sandbox (SAND), and Uniswap (UNI), are built on it.
Since Ethereum is anticipated to soar in 2023, this steep decline might be considered as a fantastic opportunity to buy ETH when prices are low.
This is especially true given that Ethereum’s network has undergone major improvements and it has switched to a more energy-efficient consensus mechanism.
Ethereum has reached a height of $4700 in November 2021 before the crypto meltdown. However, in 2022 it had a precipitous decline as a result of general market unease and the FTX disaster. Ethereum has been observed fluctuating between $1300 and $1500 in 2022.
(BNB) Binance Coin
Even in 2023, BNB appears to have a lot of potentials. Binance Coin, often known as BNB, is the native cryptocurrency of one of the biggest cryptocurrency exchanges. The Binance exchange allows users to settle fees and conduct trades on its platform using BNB.
BNB reached an all-time high of $676 after beginning trading in November 2017 at a very low price of about $0.50. Currently, the overall price movement of BNB appears to be rising.
The BNB has grown so significantly over the years for a variety of reasons, including its burndown strategy, discount coupons, affordable rates, and quick transactions.
BNB is regarded as a superior utility token as well. Additionally, with BNB, one may conduct online transactions for things like paying crypto credit card bills, enjoying themselves, traveling, and more.
A network protocol known as Polkadot is regarded as one of the most secure, engaging, and cutting-edge networks.
One of the most well-known and accessible cryptocurrencies among other digital assets is Polkadot, which is rising in popularity and accessibility along with the development of the Web 3.0 domain.
Without sacrificing scalability, it seeks to increase communication between private and public blockchains.
In 2023, investors should consider investing in Polkadot since it is one of the most popular network chains and can handle many transactions at once using sharding, which has been a key barrier in the cryptocurrency sector.
Developers prefer to create tokens on Solana, one of the fastest-growing smart contract blockchain networks, along with Cardano and Ethereum.
The native currency of Solana is the SOL. Solana is seen as a formidable rival to Ethereum because it is known in the market for providing lower costs and better transaction speeds.
Because of Solana’s primary advantages, including as its quick installation and extremely low costs, investors’ and developers’ interest in the project has not even slightly wavered despite several problems with instability and outages.
Solana will never disappear thanks to the increasing amount of NFTs, dApps, and smart contracts, and it has a good probability of returning in 2023.
If you intend to invest in cryptocurrencies in 2023, Cardano is another option. Fundamentally speaking, Cardano boasts one of the most advanced proof-of-work algorithms and is a very robust digital currency.
Many developers of decentralized applications (dApps) use this method because it makes the network secure and decentralized. Even more than Bitcoin and Ethereum, Cardano blockchain is renowned in the market for making transactions extremely affordable and incredibly quick.
The coin’s huge market valuation, which is now hovering around $10 billion, is a clear sign that it is sufficiently liquid. With all of this in mind, ADA, the Cardano native coin, might be worth investing in 2023.
The metaverse ecosystem’s monarch is Decentraland. It is built on the Ethereum blockchain and has a ton of fun features that are appealing to both consumers and companies.
With its virtual reality platform for real estate, Decentraland gives its customers access to everything from entertainment to retail, gaming, and e-commerce options.
Decentraland’s native cryptocurrency, MANA, is used to carry out transactions and payments on the platform.
Decentraland is a pioneering metaverse initiative that is anticipated to erupt significantly in 2023 due to the metaverse’s growing popularity.
Investing in cryptocurrencies is a very dangerous endeavor. And regardless of what has transpired with FTX, it is fair to conclude that the crypto winter may last longer than anticipated.
However, it is obvious that more transparency and stricter controls may be on the way shortly in light of the disastrous events that have taken place in the market for digital currencies.
The FTX commotion should hopefully assist remove the bogus tokens from the system and free up a ton of room for the much more valuable and practical cryptocurrencies, which actually have a ton of future potential and great value.