Here is a list of cryptocurrencies we like for 2023. It’s hard to predict at the moment that everyone will offer positive returns in 2023, but it’s clear that many of these tokens will outperform the rest. We have included some presale tokens at the end of the article as they are highly speculative.
2023 is likely to be a challenging year given uncertainties in the European and Chinese economies.
We started 2022 with more certainty and confidence, but the year completely unraveled due to the increase in gas prices which in turn is linked to the Russian invasion of Ukraine. The COVID crisis in China for most of the year also kept the global economy low. We will start 2023 with much lower expectations given the bad news around, although it could also be argued that the US economy is on a much firmer footing than most of the world. In short, the beginning of the year is likely to be rather uncertain, but things could change depending on the flow of news whether in Russia, the interest rate, or China.
Table of Contents:
The Best Cryptocurrencies to Invest in 2023 (Excluding Pre-Sale Tokens)
The
Best Cryptocurrency to Invest in 2023: The Big 3
1. Bitcoin
We like Bitcoin because it is different in many ways: limited supply, some gold properties (such as mining), and payment utilities (including money transfers). How Bitcoin evolves over time is difficult to predict. Major investors and intellectuals such as Charlie Munger and Nassim Taleb have called it a fraud. Many others think it is a store of value and a contrast to Fiat. What we do know for sure is that while Bitcoin has entered our living rooms, it is not actually present in our wallets (Cold or Hot). Also, unlike gold, Bitcoin is not a jewel. Bitcoin’s success so far has been built on excess liquidity after the GFC of 2008. In fact, Bitcoin prices have been closely correlated with the Fed’s monetary policy, a loose policy that contributes to many of Bitcoin’s runs to a new all-time high.
Negative commentary makes Bitcoin a highly volatile and risky asset while positive potentials make Bitcoin part of every wallet (albeit the smaller proportion).
Bitcoin Price Prediction 2023 is $36783,820
2. Ethereum
Ethereum is different from Bitcoin in many ways. On the downside, Ethereum was inflationary until recently (supply was increasing every year), plus it now operates on a proof-of-consensus model (which is potentially riskier than POW). However, there are many positives: Ethereum has increased smart contracts (e.g. ERC 20 and ERC 721)) leading to a boom in Altcoins (many of which are based on the Ethereum blockchain) and NFTs. As a result, Ethereum is a leading player in both DeFi and NFT. Ethereum has also solved its speed problem via strong level 2 blockchains like Matic and Immutable.
The problem for Ethereum remains the same as Bitcoin, with
limited real-world uses, but the potential remains high even though it shares many of the risks familiar with Bitcoin (highly volatile and dependent on Fed liquidity).
Ethereum Price Prediction 2023 is $2641,629
3. Dogecoin
Dogecoin started as a meme coin, but today it is the 8th largest cryptocurrency (from Marketcap). Dogecoin is singularly focused on payments and continues to be a big player in that space along with Bitcoin and Shiba Inu. In addition, Doge is actively supported by Elon Musk who gives him a frequent push higher with his statements. With Musk’s acquisition of Twitter, many believe Doge’s payments could be incorporated into Twitter, making it the world’s largest payment token. However, all this is speculation.
Dogecoin is an open source blockchain that was launched as a simple joke. The creators of the coin said that the coin is meant to be fun and nothing else. He soon attracted attention after big names like Elon Musk, Snoop Dogg, Lil Yachty, Kevin Jonas and Gene Simmons started dubbing for Dogecoin.
In addition, it is an altcoin whose total supply is not limited, that is, there is no limit to the number of DOGE tokens to be minted.
The current market price of DOGE at the time of writing is $0.092. Its price, a year ago, was $0.2, which means that DOGE is down 22 times compared to last year. In addition, the market price of Dogecoin has decreased by almost 1.47 times in the last 3 months.
In addition to Dogecoin’s price movement, let’s take a look at how its competitor has done so far this year. One of the most prominent competitors is Shiba Inu (SHIB).
The current market price of SHIB is $0.000009 and it has increased by almost 3% in the last 24 hours. In addition, the market price of SHIB decreased by more than 4.19 times in one year.
Dogecoin is ranked 8th according to the coinmarketcap ranking and can be used to make payments in over 300 online stores and businesses (including Tesla), despite being a meme token.
Compared to its competitor, SHIB (which is ranked #15), DOGE is performing much better overall, and therefore can be chosen for a medium-term investment of less than $10.
The
Best Cryptocurrency to Invest in 2023: The Power of Community
4. Shiba Inu
Shiba Inu Coin has one of the largest communities in the cryptocurrency world. Shiba Inu’s leadership is quite responsive. These two make Shiba Inu Coin an interesting prospect. Shib started as a “meme” coin, but is increasingly evolving into a token with potentially numerous use cases. It is accepted as payment in numerous places, Shiba Eternity is an interesting game while Shibaswap is an excellent DEX platform. There are more innovations coming. The problem for Shiba Inu is over-engineering and slow development. But the potential remains high in both 2023 and 2024, obviously subject to the economy and the pace of development being sustained.
Shiba Inu Price Prediction 2023 is $0.0000195
The best cryptocurrency to invest in 2023: 2022 performer
Cryptocurrencies (with over 100 million market capitalization) that performed well in 2022 include: NEST protocol and Trust Wallet tokens.
5. Trust Wallet Token
Trust Wallet Token took off after a loss of confidence in exchanges soon after the FTX and Binance FUD crash. People are switching to non-custodial wallets, such as Trust Wallet and Atomic Wallet Coin because custodial crypto wallets store all user data in cold and hot storage that are easier for intruders to hack. This leaves a huge space for such unguarded wallets.
The token can be used as a payment method for various services that accept TWT. Being a BEP-20 asset, TWT can be used to exchange for (or purchase) other cryptographic assets. Trust Wallet has many unique features compared to its peers, such as increased usability, a mobile app to play mobile games, access to numerous dApps and decentralized exchanges, etc. In addition, TWT can be used as a payment method for various coin-accepting services, and TWT holders can access huge discounts on crypto investments through Trust Wallet.
Trust Wallet supports numerous tokens in different blockchains such as Binance, TRON, and Ethereum. In addition, TWT holders may have additional benefits when using the Trust Wallet. For example, they may have discounts on various cryptocurrency purchases.
6. Nest Protocol
Nest Protocol is an oracle pricing network based on the Ethereum blockchain to ensure that off-chain data is synchronized with on-chain pricing (such as Chainlink). An Oracle network of distributed pricing provides pricing information outside of the blockchain in a decentralized manner, without a single entry point or governing body.
Tokens with a high market cap that have performed relatively well include OKB, UNUS SED LEO, and Tron
7. Tron
Tron is a blockchain-based operating system that aims to provide complete ownership to digital content creators. Tron primarily aims to revolutionize digital content sharing and entertainment. In other words, its motive is to create a digital content entertainment platform that can help users share their digital content easily and cheaply. With Tron, artists can fully own their content and share it without worrying about transaction fees. It’s really a plus point for Tron Blockchain.
Tron and Cardano
are both big projects, but Tron is cheaper than Cardano. In addition, the governance of Tron is very similar to that of EOS making it decentralized and progressive.
8. UNUS SED LEO
LEO is a token for iFinex, the parent company of the Bifinex crypto exchange. The token is used to pay exchange fees. Token holders also receive trading discounts on iFinex platforms. The company buys back the tokens and destroys them until they are removed from the market.
9. OKB Tokens
The OKB token is intended for use on OKX Exchange and is somewhat similar to LEO and BNB. It can be used for payments on the OKX exchange. Other benefits include: discounts on trading fees, investment in OKC buyback, OKX Earn feature to earn more OKB tokens, and OKX Jumpstart to start investing in the first high-quality crypto projects.
The Best Cryptocurrency to Invest in 2023: Metaverse Tokens
Metaverse has been gaining a lot of attention since the last year and there are many metaverse coins listed for trade. So, we have created the 6 best metaverse crypto coins to buy and add to your wallet.
Also, as we know, the cryptocurrency market is suffering huge losses after the outbreak of covid and almost all major cryptocurrencies are underperforming this time. The main reason for this is the difference between current macroeconomic factors compared to pre-covid times.
So, it would not be fair to discuss the current growth of cryptocurrencies for long-term investments because macroeconomic and liquidity factors will not remain the same in the future. So, we used pre-covid data to study the past performance of metaverse coins.
Apecoin
Apecoin is a utility token and an ERC-20 governance token within the Apecoin ecosystem. The coin empowers the decentralized community it is building at Web3.
Below are the two main APE use cases:
- EPA holders can participate directly in the governance of BAYC.
- Token holders can access exclusive features on the ecosystem, including games and merchandising.
Note that Apecoin was launched in 2022. Therefore, it has no relevant pre-covid data to compare.
APE is BAYC’s governance token and therefore is quite unique in contrast to its competitors. The reason is that BAYC NFTs are one of the most expensive and advertised NFTs on the market and APE provides the holder with access to such NFTs. In addition, some of the companies affiliated with BAYC also accept APE as a payment method.
Decentraland Mana
Decentraland Mana is the third largest gaming cryptocurrency in terms of market capitalization. Mana is the preferred token in the game Metaverse Decentraland.
You can’t argue against game tokens on the question of utility. You can purchase a whole host of game resources using game tokens The main challenge for Decentraland is that the game fell when Mana crashed, suggesting that economic incentives were driving the use of the game. In other words, the “fun” that is usually a big driver for games doesn’t exist on Decentraland. Decentraland is not your typical Activision game type and therefore needs better technology to succeed. VR/IR technology and funding could have a huge impact on the industry, and Decentraland could be the biggest beneficiary given its early mover advantage.
Decentraland reported over 56,000 monthly active users (as of October 2022).
There is no guarantee that Mana will provide positive returns in 2023. But any technological advancement in VR/IR and processing technology (Track NVDA) will definitely bring Mana higher again. This, of course, largely depends on the state of the economy in 2023.
Axie Infinity
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Axie Infinity is a blockchain-based trading and gaming platform, which is partially operated only by its players. The platform allows its players to collect, breed, breed, and battle creatures called Axies. Every Axie here is an NFT with different strengths and attributes.
What makes Axie Infinity unique is that each of its creatures possesses six of the hundreds of potential body parts, providing an endless variety of Axies to produce. In addition, Axie token holders can bet their AXS tokens to receive regular rewards. This platform is one of the pioneers of the P2E concept where players can earn non-fungible tokens and cryptocurrencies while playing.
Axie has registered more than 680,144 monthly active users (as of October 2022), which is much higher than any of its competitors (including Decentraland’s 56,000 and Sandbox’s 200,000 monthly active players).
Enjin Coin
Enjin is an ecosystem of interconnected blockchain-based games, and ENJ is its native token. Mentioned below are the two main use cases for ENJ:
- ENJ is a store of value that can be used to support the value of NFTs.
- ENJ allows developers to tokenize game assets on Ethereum.
The current market price of ENJ is $0.30, at the time of writing. Its market price increased from $0.026 to $0.133 during the pre-covid period (December 2018 to February 2020) and then increased by almost 5.11x during that period.
Sandbox is the main competitor of Enjin Coin, the price of which has changed from $0.062 to $0.048. This means that the price of SAND suffered a drop of almost 1.29 times during that period compared to the 5.11 times growth of the price of ENJ, clearly indicating that Enjin Coin outperformed its competitor.
Unlike its competitors, Enjin is tradable like other cryptocurrencies, but it also focuses on games, NFTs, and other different assets on the platform. The platform allows very easy creation of games and objects. It means that developers can launch different types of content on the Enjin Network.
In addition, Enjin Network has more than 20 million users as of now.
frill
Gala games offer a wide range of blockchain games and provide players with control over their games by owning NFTs. Two main use cases of GALA are:
- GALA tokens are used to purchase in-game items, such as NFTs in gameplay.
- GALA tokens are used as a mechanism to incentivize players.
The current market price of GALA is $0.025, at the time of writing. Its market price increased from $0.0014 to $0.03 (until March 2021; as previous data was not accessible) and then increased by almost 21.42x until March 2021.
Mana is Gala’s main competitor, the price of which has changed from $0.54 to $0.27. It means that the price of MANA has undergone an increase of almost 2 times until March 2021, compared to the 21.42 times growth of the price of GALA, clearly indicating that Gala has outperformed its competitor.
“Gala Games” is governed and owned by its players, unlike its competitors. In addition, Gala Games will soon launch its own chain powered by a proof-of-work algorithm that will add additional security to games and user funds.
sandbox
Sandbox is a blockchain-based virtual reality game that allows users to build, sell, and buy digital assets. Two main use cases of SAND are:
- SAND tokens facilitate users to undergo various transactions during the game, such as purchasing LAND.
- SAND holders can point the token to participate in the governance of the platform.
The current market price of SAND is $0.59 and has changed from $0.04 to $7.46 and, therefore, increased by more than 186x from January 2021 to November 2021 (as pre-covid data was not available for this).
One of Sand’s main competitors is Decentraland, whose price changed from $0.15 to $2.88 from January 2021 to November 2021. It means that the price of Mana has increased almost 19.2 times during that time.
The number of monthly active users of Sandbox has been reported as 200,000 as of October 2022. While, its competitor, Mana, has 56,000 active users per month.
Sandbox is unique because it allows users to play both roles: players and creators. In addition, it combines decentralized autonomous organizations with NFT to build a decentralized digital platform for the gaming community.
The Best Cryptocurrency to Invest in 2023: DeFi Tokens
Decentralized Finance (Defi) is a class of financial products such as blockchain-based protocols and apps. These financial products are regulated by smart contracts.
Defi is a class that can potentially disrupt the financial sector because it can make it unguarded and decentralized. In addition, Defi coins are like a digital version of fiat coins because they can transfer value during financial transactions.
Defi can help investors access new assets and have more control over their financial future. Therefore, the Defi category can experience tremendous growth in the future. With that said, we are listing the 5 best Defi coins you can add to your wallet.
Note that the cryptocurrency market has been suffering huge losses since 2021 (mainly after the outbreak of covid) and almost all major cryptocurrencies, including Defi coins, are underperforming this time around. The main reason for this is the difference between the current macroeconomic factors compared to the previous year. Macroeconomic factors such as fiscal policy, inflation and employment levels, are not in favor of the cryptocurrency market at the moment.
Quant
Quant is a protocol that supports the mass adoption of DLT, i.e. distributed ledger technology. Provides users with interoperability when developing tools for enterprise-grade applications.
Quant’s current market price, at the time of writing, is $120.24. The price of QNT increased from $2.06 to $43.17 from 2019 to 2021, indicating a 20.95-fold increase in its price during that period.
One of its main competitors is Loopring, whose price changed from $0.05 to $0.46 during that time. It means that LRC’s price has increased almost 9.2 times, which is much lower than QNT’s 20.95x price growth, clearly indicating that Quant has outperformed its competitor.
QNT use cases are:
- QNT can be sued to gain access to Overledger DLT Gateway of Quant which allows developers to develop multi-DLT applications.
- Another important utility of QNT is to pay transaction fees, platform fees, and annual license fees.
Uniswap
Uniswap is a growing network of Defi apps made up of developers, traders and liquidity providers working together in an open and accessible financial market. Its version 3 introduced major changes that made Uniswap much more efficient for liquidity providers and provided improved infrastructure and superior trade order execution (efficiency and effectiveness). Its current market price is $5.77.
Its price movement through 2021 states that Uniswap’s price increased from $3.5 to $14.19, indicating a 4.05-fold increase in its price during that period. Note that there are about 4.5 million users on Uniswap to date.
Let’s also take a look at how Uniswap’s competitor has done so far this year. One of the most important competitors is Sushiswap (SUSHI). The market price of SUSHI changed from $2.5 to $3.89 and, therefore, increased almost 1.55 times during the specified period compared to 4.05 times growth in UNI. So, Uniswap clearly outperformed its competitor.
Mentioned below are three main UNI token use cases:
- UNI tokens provide the holder with voting power that can be used for network governance.
- UNI coins can be used to invest and speculate.
- These coins can be used as a great alternative to slow and expensive international transfers.
Pancakeswap
Pancakeswap is the open source DEX blockchain platform built on BSC (Binance Smart Chain). Users can trade BEP-20 tokens using the PancakeSwap platform without requiring any intermediary besides maintaining privacy. There are approximately 2.8 million users on Panckeswap as of September 2021.
The current market price of Pancakeswap, at the time of writing, is $3.95. CAKE’s price increased from $1.4 to $3.16 from 2019 to 2021, indicating a 2.25-fold increase in its price during that time.
We also consider the price movements of Pancakeswap’s competitors from 2019 to 2021. One of the most important competitors is Sushiswap (SUSHI). SUSHI’s market price changed from $2.5 to $3.89 and, therefore, increased nearly 1.55 times during the specified period compared to CAKE’s 2.25-fold growth. So, Pancakeswap clearly outperformed its competitor.
Below are the main use cases of CAKE:
-
CAKE
- holders can participate in the governance of the Pancakeswap network using CAKE tokens.
- CAKE coins provide the holder with voting power proportional to the number of tokens.
Avalanche
Avalanche claims to process transactions incredibly fast and is low-cost and environmentally friendly. Using the Avalanche platform, you can develop Ethereum-based dApps. Its current market price is $5.77 and Avalanche has more than 4.5 million users worldwide.
Avalanche’s price movement from 2019 to 2021 indicates that AVAX’s price increased from $5.3 to $54.93, indicating a 10.36-fold increase in its price during that time.
The only notable competitor of AVAX is Polkadot, whose price increased from $2.9 to $10.95 during the period 2019-2021. It indicates that DOT’s price increased 3.77 times during that time compared to AVAX’s 10.36x growth, clearly making Avalanche a winner here.
Using Avalanche, any user can launch a blockchain and set it to private or public. Avalanche has a safety threshold of 80%, well above the industry standard of 51%. AVAX works on the Proof of Stake concept and its transactions can be finalized in less than 2 seconds, compared to Polkadot’s 60 seconds and Bitcoin’s 60 minutes.
Two main use cases of AVAX are:
- AVAX is used as a currency to collect transaction fees and incentives within the network.
- The token can be stalked to secure the Avalanche network.
Loopring
Loopring is a protocol designed to build decentralized cryptocurrency exchanges. LRC is the native token of Loopring and is an Ethereum-based cryptocurrency. Loopring aims to integrate centralized order matching with decentralized order settlement on blockchain. In this way, it can bring the best aspects of both exchanges (centralized and decentralized).
Mentioned below are the two main LRC token use cases:
- The LRC token is used for key operations on the protocol. In other words, people can run a decentralized exchange on the Loopring platform only with the help of LRC tokens.
- governance of the Loopring ecosystem, where LRC holders can participate in the platform’s charitable actions.
Another use of LRC is in the
The Best Cryptocurrencies to Invest in 2023: More Tokens
Render Network
Render Network
aims to revolutionize the digital creation process and Render Token (RNDR) is the native token of Render Network and is built on the Ethereum blockchain. It aims to connect artists who need a graphics processing unit with people who have enough GPU capacity to rent them. It removes the technological barriers of computational systems, namely; allows people to share their unused or extra GPU power with people who need GPUs. The network connects these people and helps them save time and money. Therefore, RNDR is one of these best cryptocurrencies to buy under $10.
Render’s only major competitor is Flux. It is the cloud infrastructure platform that is completely decentralized and aimed at building the largest decentralized computational network. Flux already had 13,500 nodes and 98,000 CPU cores and offers 272 terabytes of RAM and 6 petabytes of storage.
The demand for graphics processing unit rendering services is growing, and therefore, Render Network can potentially save costs and time for such services. In addition, users have the opportunity to earn passive income in the form of RNNDR tokens.
The Best Cryptocurrency to Invest in 2023: Pre-Sale Tokens
Even in a bad year, pre-sale tokens tend to have a higher chance of doing well than existing tokens. However, given the quality of the audits and data available, the chances of a knockout are just as high. DYOR and take extremely high risks
