The crypto market has evolved significantly since the first digital asset – Bitcoin – was launched several years ago. It has turned into a mainstream phenomenon that has been widely accepted in the global financial sector. Currently, thousands of cryptocurrencies are available – and the market only keeps growing. The increasing adoption of blockchain plays a huge role in the popularity of digital currencies, as many sectors are now exploring the potential of this technology. As a result, tokens’ value has increased considerably, and crypto enthusiasts are now looking for the next big opportunity in the market. Identifying cryptocurrencies with high potential returns can be daunting, but we’re here to help. In this blog, we’ll explore 5 digital assets that will likely explode in 2023, so keep reading.
Ethereum is the second most popular cryptocurrency, but also a blockchain platform where developers can create smart contracts and DApps. Ethereum price could explode this year, with some experts believing it could reach $3,500 by the end of the Summer. This projected growth has a lot to do with NFTs’ popularity. Non-fungible tokens have surged in popularity in 2022, and this trend isn’t going anywhere this year. People are increasingly investing in NFTs, leading to a higher demand for Ethereum and, ultimately, to a substantial price surge.
The ERC-20 token standard is a remarkable feature of the cryptocurrency, allowing new tokens to be created on the Ethereum blockchain. Many altcoins have been built on the Ethereum network, and they all provide incredible use cases and unparalleled features. Ethereum is also a hub for NFTs, which are digital assets that can’t be replicated and can take the form of digital art, in-game items, and more. Ethereum is more than just a popular crypto – its blockchain network is a bedrock for other digital assets and DApps. Moreover, many significant changes in the crypto universe are all made possible thanks to the Ethereum network, enabling seamless trading.
Dogecoin is a cryptocurrency that has caught investors’ attention in the past few years, standing out through its unique branding and powerful community. While it started initially as a joke, DOGE has become a viable investment option for those looking to make profits. Two years ago, the cryptocurrency experienced a dramatic price surge, driven by the hype on social media platforms. Although its price has decreased since then, investors are optimistic about the cryptocurrency’s potential in 2023, believing it could skyrocket again. One factor that could drive DOGE’s growth is the mainstream adoption of cryptocurrency. As more people are getting into this new technology, there will likely be a higher demand for digital currencies like DOGE.
But there’s something else that helps fuel the cryptocurrency’s growth: its passionate community, which has rallied around the coin ever since the beginning, spreading awareness via social media and sharing memes. Through constant support from the community, DOGE will likely see further adoption. While cryptocurrencies are generally perceived as risky investments, Dogecoin is an excellent option among altcoins, especially for investors seeking investment opportunities that can bring long-term gains.
Ripple was launched in 2012 and mainly serves as a digital payment protocol for financial institutions and banks. Its native token is XRP – an altcoin that could grow exponentially in 2023. As Ripple keeps expanding its services and more financial institutions embrace the platform of the token, there will likely be a higher demand for XRP. Plus, Ripple is seeking to integrate NFTs into the platform, and if it succeeds in doing so, the value of XRP could increase considerably.
Ripple is a great option for a blockchain network due to many reasons. First, XRP transactions are incredibly fast, as they are completed in only 3 to 5 seconds – which is faster than Bitcoin’s transaction time. Another benefit of Ripple is that it provides low transaction costs (only 0.00001 XRP), a tiny portion of a penny. Last but not least, Ripple’s network can make cryptocurrencies more sustainable, as it has low power consumption. Given its features and growth potential, Ripple is a worthy investment option in 2023.
Litecoin entered the crypto market in 2013 with a value of only $4.30, but five years later, its price surged, proving its ability to weather the market’s high volatility. Litecoin resembles Bitcoin in many ways, but there are a few notable differences between the two. For instance,
Litecoin has a quicker block generation time and provides lower transaction fees than Bitcoin.
Cryptocurrency has gained popularity in recent years, meaning it could reach new heights in 2023. This is because Litecoin is an ERC20 token, making it suitable for the Ethereum blockchain and opening up a world of opportunities, as the cryptocurrency could either be used for NFTs or integrated into DeFi protocols. Suppose more blockchain platforms adopt Litecoin; that would increase its value considerably.
In 2021, Decentraland piqued the interest of investors, but its popularity fell in 2022 during the bearish market. However, 2023 is a new year, translating into new opportunities – Decentraland has had a remarkable price recovery, making it a great investment option. This unique cryptocurrency powers the Decentraland virtual world, built on the blockchain. One of the reasons why it’s worth investing in this cryptocurrency is its utility in the 21st-century markets. Owning Decentraland has significant value, allowing investors to purchase land and profit from a future real estate boom.
Moreover, it enables NFT artists to build online galleries and brands to open digital storefronts. Decentraland MANA tokens have a market cap of over $723 million, highlighting the cryptocurrency’s worth. Moreover, its high liquidity ensures you can easily find someone willing to buy MANA tokens. Since interest in virtual worlds is only increasing, the demand for MANA will likely get higher as well, leading to the growth of cryptocurrency.
The Bottom Line
Many cryptocurrencies are available on the market nowadays, so deciding which one you should buy can be confusing. This is why it is crucial to stay up-to-date with the latest news in the crypto world and keep an eye on the digital currencies with the highest growth potential. Doing so will help you make the right investment decisions and ensure you won’t miss out on great opportunities.
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