Top 5 Altcoins to Invest in for 2023 — DotBig Review
New altcoins emerge in the crypto market regularly. Everyone wants to find the best altcoins to buy to earn good gains from the returns. However, with such a huge selection of potential digital investments, it’s difficult to determine an efficient trading strategy for the following year. What should you do?
In this guide, we outlined 5 digital currencies that seem to be the best altcoins for 2023. We examined the historical performances, news, and predictions of other analysts to determine this list. Enjoy reading!
Investments in Digital Projects in 2022
Before we dig into the list of top altcoins in 2023, it’s necessary to understand the overall tendencies in the virtual investment market. 2022 can hardly be called a profitable year for investors, as even the most solid digital assets, Bitcoin and Ethereum, suffered declines. Since the beginning of the year, BTC lost around 63% in its value, while ETH suffered a 67% decline. That’s why there’s nothing strange about the fact that some more speculative altcoins suffered huge losses.
While showing the extreme volatility of the crypto market, this collapse also means that there are a lot of promising coins to buy at lower prices. Here are our top 5 suggestions to invest in before 2023 comes.
Solana (SOL)
This cryptocurrency became a real mainstream in the crypto industry in 2021. It even got the title of one of the most probable “Ethereum Killers”, which is rewarded to the best blockchains only. The Solana blockchain impressed the community with its speed of execution and extremely good scalability. Although it has lost a significant portion of value since the beginning of 2022, many analysts are sure that this decline is temporal.
Actually, Solana has the potential to become the most popular blockchain in 2023. This is especially relevant during the period of the unstoppable NFT market growth. Solana is a very efficient blockchain for NFT enthusiasts, as it charges low fees and guarantees high-speed execution of transactions — 3.4K tps. Just compare it with Ethereum: Solana charges 9 times lower transaction fees than the second-biggest blockchain.
The further success of Solana isn’t just a dream of Enthusiasts anymore. It has already started beating Ethereum in many respects and it has a great chance to outperform Ethereum in all aspects throughout the following year.
Decentraland (MANA)
Decentraland is paving its way to success through the metaverse niche of the crypto industry. Over the passing year, it has become especially popular among those who believe in a good future for NFTs. In fact, Decentraland has become an entire social network for NFT enthusiasts where they can earn tokens through games, enjoy watching them in virtual galleries, and trade them. One of the most well-known features of this ecosystem is that Decentraland enables purchases of virtual land by buying LAND tokens.
As of the date of writing, the Decentraland native token, traded under the MANA ticker symbols, is worth $0.3097. This point is far below the all-time-high price of the coins, which is around $3. This means it might be the best time to invest in MANA. After analyzing altcoins news and newly announced partnerships of Decentraland, many experts concluded that MANA coins can reach the price of $0.69993 by the end of 2023.
Polygon (MATIC)
As of today, Polygon is the tenth biggest cryptocurrency by market capitalization. Experts call it one of the best altcoins to invest in 2023 because of its unique utility. The Polygon platform represents a unique technology allowing the development dApps on Ethereum. It is very popular with developers because it greatly improves the efficiency of their blockchain-based projects.
Many investors believe in Polygon because they see that it’s approaching wider markets and establishing partnership ties with the world’s biggest corporations like Meta. This means that in the nearest future we will see new NFT platforms developed for Facebook and Instagram, which is expected to greatly affect the demand for the Polygon native token traded under the MATIC symbol. This crypto project also cooperates with other big blockchain-based startups such as SushiSwap and Aave.
Considering the increasing popularity of Polygon among dApps developers and its cooperation with big players beyond the crypto market, we expect this project to become a real game-changer in 2023.
Cosmos (ATOM)
As you already know, the crypto industry likes innovative ideas and technological breakthroughs. In these respects, Cosmos can become one of the most important projects for the crypto community in the nearest future. This is because it’s the first attempt to combine all available blockchains into an Inter Blockchain Communication system.
Great scalability and security of the decentralized network are ensured by the Tendermind consensus algorithm. This technology enables the easy development of smart contracts that can be converted between the world’s biggest blockchain ecosystem.
The real growth of the Cosmos networks is anticipated to take place over 2023. As of the date of writing, its native ATOM coin is traded at around $8.95. If the project manages to fulfill its potential completely, experts expect it to finish 2030 at the point of $510, whilst its all-time-high price is just $44.70. Hence, we can consider ATOM one of the best altcoins for long-term investment.
ApeCoin (APE)
ApeCoin was introduced at the beginning of 2022. Over the first month after the launch, the cryptocurrency managed to increase in price from $8 to around $24, hitting its all-time high. As of today, the APE is valued at $3.64.
Such a prominent success of the project was caused by its connection to the Bored Ape Yacht Club. In 2022, it became one of the most popular collections of non-fungible tokens, which helped the APE cryptocurrency to greatly increase in value.
In fact, APE is a meme cryptocurrency, which means it’s a highly speculative product and can be called a real financial asset. At the same time, many analysts don’t doubt its good future, thanks to the “DAO” governance style of the project.
Verdict
So, we believe that SOL, MANA, MATIC, ATOM, and APE are the best altcoins for investment in 2023. Make your own analyses and remember the huge volatility of the crypto market. Specify the portions of your portfolio that should be allocated to these virtual assets.
