With the arrival of winter, crypto investors are in an undeceive state. So what should they do in the next quarter of 2023?2022 has been a challenging year for cryptocurrencies, and with overwhelming fear, many investors are unwilling to take risks as they believe the market can experience further decline in the future. However, another group is betting their fate with promising altcoins. They are putting altcoin in their investment portfolio for 2023.
We all know that Cryptocurrencies have a better future in the long term though last year was unlucky for investors. Nevertheless, the new year can bring new hope for investors.
- Altcoins are the alternative digital currency to bitcoin, and all the coins except bitcoin are altcoins.
- Thousands of altcoins are traded in the market.
- We cannot predict the future of altcoins if the blockchain they have created continues to be used, these altcoins will exist in the future.
Over the years, the market has seen drastic changes, but one constant thing is the rise of altcoins, creating new opportunities for marketers and investors.
Currently, the crypto world has widened with the market’s various tokens and asset classes. But not all are good investment options, So you always want to invest in coins that have a better future.
Top Promising Altcoins with great potential
So here are the top promising altcoins that have extreme potential to grow in the upcoming quarter.
After Bitcoin, Ethereum is one of the most popular cryptocurrencies and the second biggest cryptocurrency by market capitalization.
As of July 2022, the market capitalization of Ethereum’s native currency, ether, which supports numerous applications, gaming contracts, and financial transactions, is estimated to be £155 billion.
It enables the possibility of why it can be one of the significant cryptocurrency investments in the future.
Powering the BNB chain system, the BNB coin is One of the best altcoins in the world. It supports many applications, paid transactions, transaction fees, and discounted trades. Outside the crypto market, it makes payments and travel arrangements. It’s created using the best industry projects, combining the play to earn a formula.
Litecoin was launched in 2011 as a formidable competitor to bitcoin and other competitive coins. It shares similarities to bitcoin, but some unique features make it one of the best cryptocurrencies enabling faster transactions.
Litecoin works on a proof of work algorithm, a consensus mechanism to increase the system’s efficiency. One of the most trustable and promising altcoins, Litecoin enables quicker transactions than bitcoin, fostering future trading opportunities for investors.
Following Bitcoin and Litecoin, Dogecoin was created in 2013 using one of the most powerful technologies, Blockchain. According to some reports, Dogecoin can be the best option for cryptocurrency investors at the end of the year.
In addition, they believe the token will soon see its highest growth following its recent all-time high of 58p.
The native of the Cardano blockchain platform, named Cardano, supports peer-to-peer transactions at breakneck speeds and uses proof of stake rather than proof of work. Cardano had increased by 40p in July, reaching a record high of £2.45 in September.
Bitcoin Cash (BCH)
To improve bitcoin’s scalability, BCH was introduced in 2017 By Bitcoin miners and developers. The project aims to enhance the transaction and scalability of the bitcoin network.
BCH is far different from the original bitcoin network having its Blockchain and specifications. However, it supports the bitcoin network working on the exact consensus mechanism as proof-of-work.
Polygon, formerly known as matic network, is a new ethereum based project that helps developers to build decentralized D-apps. The project introduces to solve the blockchain network efficiency and transaction speed.
Polygon is one of the best cryptocurrencies securing a place in the top 15 currencies by market capitalization. It supports more than 7000 decentralized applications. In addition, the Polygon platform can improve the security, transaction speed, and impermeability of the ethereum Blockchain.
Polkadot is a next-generation blockchain project to break the barrier between different blockchain networks, securing the global ecosystem of specialized blockchains. Furthermore, the project was designed to help the decentralized applications and improve the transaction speed and scalability in the blockchain network.
The Ouroboros protocol inspired the project and operated on a nominated proof-of-stake consensus mechanism.
Tron is a blockchain designed to support decentralized applications. It has its native currency called Tronix or TRX. Tron aims to promote a cost-effective sharing of data.
The Tron network can process up to 2000 transactions per second and operates on a proof-of-stake consensus mechanism. Each transaction on Tron validates by the super representatives, who rewards for their work.
Decentraland is a great investment opportunity for investors in 2023. It is the augmented virtual reality of the next generation. This 3d virtual reality-based metaverse can power many decentralized applications.
Decentraland hosts multiple projects on crypto, virtual events, digital stores, and many others. It is a blockchain-based project that relies on smart contracts. The Decentraland users will experience a digital space where they can play games, exchange collectibles, buy and sell virtual avatars, and connect with each other.
Cosmos is a decentralized network long chain of blockchain networks. It has the power to modernize the decentralized financial system. The platform helps users to experience seamless transactions among different networks.
Q. Which crypto has the biggest potential?
Ans. As per crypto forecasts, ethereum has the biggest potential to grow in 2023. As of now, it is the second-biggest cryptocurrency by market capitalization.
Q. Which altcoin will be the next Bitcoin?
Ans. Polkadot is a multi-chain network and an alternative to bitcoin. It has long-term potential.
Q. Is Solana or Cardano better?
Ans. Solana has better opportunities than Cardano. It has higher efficiency and throughput rate. Cardano operates on the pos consensus mechanism. Pos is more energy efficient than the pow consensus mechanism used in the most extensive blockchain network like ethereum and Bitcoin.
Q. Does Solana still have a future?
Ans. Yes, Solana can grow in 2023. The coin has a better future and could headway web3 and NFT space.
These are the promising altcoins that can uplift your investment goals in 2023. The market is not bullish, but we can still expect the crypto to rise and make better gains from these investment options.
The crypto market is highly volatile, and you need to understand the potential risks before making any investment decision. This article is only for information purposes. We suggest you do your research before making any investment decision.