Introduction
Surely, top cryptocurrencies for 2023 year exaplain itselft what I want to write here about.
In the beginning, let me mention that the cryptocurrency market is a high-risk market, so …
There are several factors influencing this, i.e. a young industry, huge volatility of assets, toxic “players” of the stock exchange (unfortunately, this term must be used), and lack of market maturity.
I decided to start like this, but not today…
Because, the new year is coming and it’s time to find the top 10 cryptocurrencies for 2023…
I will immediately add that this article may be boring for some because I am not looking for solutions with a market capitalization of nearly $10 million dollars.
This is pure gambling, not an investment, indeed. If someone likes to gamble, go ahead, but you might as well go to the casino and play roulette.
I’ll start with 10 cryptocurrencies that have strong fundamentals, indeed. So to say, I think these are the best cryptocurrencies to invest in 2023.
Top 10 Cryptocurrencies for 2023
Bitcoin (BTC)
Especially, Bitcoin opens the list. There is only one “king”, in this moment. Because, Bitcoin is the first and most secure investment in the cryptocurrency market.
Overall started with Bitcoin… Until January 2017, Bitcoin accounted for nearly 85% of the entire cryptocurrency market capitalization. Currently, it is close to 38%, so that explain everything. Either way, Bitcoin is unrivaled the most important cryptocurrency in the entire market. Indeed, it’s a carrier of value and “gold” of cryptocurrencies.
Without a doubt, the prices of other cryptocurrencies are largely determined by the price of Bitcoin.
Especially, if you are new to the market, start with Bitcoin.
Following data: Capitalization: $321 billion, resources: 19,236,206 / 21,000,000
Official website: Bitcoin
Ethereum (ETH)
Surely, cryptocurrency Ethereum is the second most capitalized one. Moreover, cryptocurrency promotes decentralized applications and smart contracts. In this cryptocurrency, we place great emphasis on practical solutions that will make cryptocurrencies even more useful.
Following data: Capitalization: $142 billion, resources: infinite
Official website: Ethereum
BNB (BNB)
Exactly, it is a token of the largest cryptocurrency exchang, Binance. So to say, Binance is the Amazon of e-commerce among cryptocurrencies. Moreover, with this token, you can make transaction fees on the exchange, participate in the Binance lottery or make purchases of regular products.
Overall, Binance as an exchange is innovative and leads the pack in opening new avenues for the early adoption of cryptocurrencies.
Following data: Capitalization: $38 billion, resources: 163,276,974 / 200,000,000
Official website: Binance
Polygon (MATIC)
Obviously, Polygon is a cryptocurrency focused on scaling and developing the Ethereum network. Thanks to Polygon, Ethereum is transformed into the Internet of blockchains, which makes Ethereum even more universal. Moreover, Polygon need to be in top 10 cryptocurrencies for 2023.
So to say, many institutional investors put money in this project, which should not be surprising.
Following data: Capitalization: $7.2 billion, resources: 8,955,469,069 / 10,000,000,000
Official website: Polygon
Litecoin (LTC)
Surely, Litcoin is a cryptocurrency derived from Bitcoin. Without a doubt, you can specify that Litecoin is “Bitcoin” with enhancements. In this case, it is about confirming the transaction on the network, which takes 2 and a half minutes.
In contrast to Bitcoin, it is an average of 10 minutes.
Following data: Capitalization: $4.6 billion, resources: 71,847,883 / 84,000,000
Official website: Litecoin
TRON (TRX)
Another cryptocurrency with which you can create decentralized applications on the TRON network.
So, cryptocurrency is hugely popular and its resources are quickly bought up.
Following data: Capitalization: $4.9 billion, resources: infinite
Official website: TRON
Ethereum Classic (ETC)
Cryptocurrency based on the original Ethereum blockchain, so Ethereum is a 2016 fork.
This crypto is the oldest smart contract network, despite the lower popularity of its competitor Ethereum.
Ethereum has been using the Proof-of-Stake consensus mechanism since 2022, and Ethereum Classic has remained with the original Proof-of-Work concept (the same as Bitcoin). It’s another one which is must in top 10 cryptocurrencies for 2023.
Following data: Capitalization: $2.2 billion, resources: 138,389,450 / 210,700,000
Official website: Ethereum Classic
Cosmos Hub (ATOM)
Surely, the cryptocurrency in the Cosmos network consists of many independent, parallel blockchains. But … each is powered by classic Byzantine fault tolerant (BFT) consensus protocols.
The architecture is a more general application of the Bitcoin sidechain concept, using the classic BFT and Proof-of-Stake algorithms instead of Proof-of-Work.
So, With this cryptocurrency you can connect any blockchain network to the Cosmos network. Consequently, this allows you to transfer cryptocurrencies without intermediaries between blockchain networks. When it comes to scaling the Cosmos network, it is a very good solution.
Following data: Capitalization: $2.5 billion, resources: infinite
Official website: Cosmos network
Monero (XMR)
A cryptocurrency that puts a lot of emphasis on scalability and anonymity on the web, indeed.
This makes Monero quite an unpopular currency for many financial regulators because they cannot track XMR payments or collect data about its users.
Following data: Capitalization: $2.5 billion, resources: infinite
Official website: Monero
Quant (QNT)
Simply to say so, cryptocurrency offers blockchain solutions as a service for businesses. Surely, cryptocurrency is based on the Ethereum network.
Following data: Capitalization: $1.6 billion, resources: 14,544,190 / 14,612,493
Official website: Quant
Trust Wallet (TWT)
Without a doubt, token of the most famous smartphone application with the “cold” wallet function. Binance has established official cooperation with Trust Wallet, so it’s proof of the claim of this application.
Following data: Capitalization: $0.6 billion, resources: 416,649,900 / 1,000,000,000
Official website: Trust Wallet
Obviously, these 10 cryptocurrencies are cryptocurrencies that have solid fundamentals. However, do not forget that it is safest to invest only in Bitcoin and Ethereum, first.
Capital Flow
Firstly, touching on the topic of the best cryptocurrencies for 2023, it is impossible to mention how capital flows in the cryptocurrency market. Moreover, this allows you to better determine the timeframe of return on investment.
Exchange customers always allocate money in stablecoins, which are digital equivalents of the dollar (in this case, I will use the dollar, but it can be yen or another stablecoin available on the exchange).
When we have capital in our account, we choose the safest cryptocurrencies, i.e. the first 50 with the largest market capitalization. That’s where the capital comes first so, …
For people who really care, you should additionally check the fundamental analysis of the cryptocurrency that you want to put in your own portfolio. Surely, in my opinion, is one of the best tips you can get in connection with building your own cryptocurrency portfolio. Of course, if you don’t already have one.
About building a cryptocurrency portfolio another time more thoroughly.
Back to the article …
Back to Stablecoins
Then the capital partially returns to stablecoins when the prices of assets with the largest ‘market caps’ are expensive. There are sales, i.e. the realization of profits by those who can control greed. Some of the capital remains inexpensive assets (such as Bitcoin, and Ethereum).
Here I mean “expensive” because the price is high at a given time … when you can buy cheaper cryptocurrencies that can earn more and are relatively safe.
The rest allocates capital only in risky assets … Yes, yes. Most of them will lose some or all of them. Only those of them who invest in cryptocurrencies are more likely to realize profits over time (about 5 years).
Yes, I know day traders don’t like it, but it’s not for them… They have their priorities.
Riskier assets receive the largest amount of capital only when the prices of safer cryptocurrencies are high … What does this mean? Draw your own conclusions.
The diagram presented is a simplified version of capital flows. It is impossible to define all “plays” on the market due to their number.
It is best for you to remember that capital flows in the following pattern:
The most important thing for you is that the capital always drifts to bitcoin, and then to altocins with the largest market capitalization. Then back to Bitcoin and finally to stablecoins. In the case of speculators, capital also goes to altcoins with low market capitalization. However, these are usually very risky investments.
I Need More Risk
Out of perversity, I will present 3 cryptocurrencies for 2023, also something for those who are gamblers … If they need more risk …
a) Waves (WAVES)
Crypto is a multi-functional, open-source platform based on a decentralized blockchain transaction registry, with its own cryptocurrency of the same name. The goal of Waves was to create an intuitive platform for users to safely exchange value, create and manage their own digital tokens, as well as provide access to a decentralized multi-currency cryptocurrency exchange (Waves DEX). The platform allows users to easily run a crowdfunding campaign in the form of selling tokens during an ICO.
Capitalization: 159 million $
Official website Waves
b) Magic (MAGIC)
Indeed, MAGIC is the currency of the Treasure ecosystem that serves as money between the metauniverse in the common economic layer.
Capitalization: 115 million $
Official site: MAGIC
c) Ocean Protocol (OCEAN)
Cryptocurrency using advanced artificial intelligence on the Ethereum blockchain.
Thanks to it, you can make money on data by collecting information and selling it. Google follows a similar philosophy.
Capitalization: 65 million $
Official website Ocean Protocol
Remember, however, that these cryptocurrencies are roulette … Don’t be a fool, but if you want to be one, go ahead.
All these technologically trending cryptocurrencies are difficult to predict their ROI, indeed. It may be 100x or just the opposite, a loss of capital.
About Cryptocurrency Trends
There are different trends in the cryptocurrency environment. However, you have to be very careful with trends.
Capital in this case is pumped very strongly. Investors looking for the riskiest assets join the pool and when a certain amount is reached…
The outflow of money is even faster. It’s a bit like a “Pump and Dump” and since the market capitalizations are much smaller here, prices are even more volatile.
In this case, I would describe “playing” with trends as extremely dangerous.
Some upcoming trends:
Artificial Intelligence
With the increase in services related to artificial intelligence, it is possible to create cryptocurrencies based on them. Both technologies are revolutionary, and the combination of both can have a significant impact on the entire market.
Artificial intelligence is as young as cryptocurrencies and it is impossible not to notice it.
Example: Ocean Protocol (OCEAN)
Virtual World
The metaverse is a surefire trend. We could already see the first interest in its trend, but you have to wait a while for the boom. Moreover, the vision of ownership and the world in the virtual world is getting closer and closer. We already have several cryptocurrencies on Binance where you can buy digital property in the virtual world.
Example: Decentraland (MANA)
Tokenization of Assets
NFT has already messed up a lot. However, don’t expect it to be over. With the progress of digitization on the Internet, more and more assets based on tokens will be created. All this will be connected by blockchain.
Examples: NFT platforms
Advanced Cryptography
Cryptography has been present in cryptocurrencies from the very beginning. The big advantage of cryptocurrencies is their security and speed of transactions without the intermediation of banks.
The implementation of advanced cryptography that will make cryptocurrencies even more secure will be one of the trends.
Example: future currencies
Blockchain as Service
Since blockchain is perceived as the technology of the future by an increasing number of entrepreneurs, why not offer services in the form of blockchain? Businesses that can implement and secure the blockchain network will have a lot of work to do.
Example: Quant (QNT)
Moreover, cryptocurrency trends constantly changing. More about technology trends in cryptocurrency.
Gaming with Blockchain
It is impossible to ignore the entertainment industry. Gaming with blockchain will become more and more popular. This is facilitated by tokenization, the virtual world, and generally available digitization.
Examples: Magic (MAGIC)
Results of Top Cryptocurrencies for 2023
Once again, it is worth going back to the previous bull market and assessing the investments of several cryptocurrencies. Only in this way are we able to realize how much we are able to extract from the cryptocurrency market in relatively less risky assets.
Previous bull market (January 2019 – November 2021) and rates of return of the following listed cryptocurrencies: Bitcoin: 1939 % up, Ethereum: 4600 % up, BNB: 5157 % up, Polygon: 14,600 % up, Litecoin: 1737 % up, TRON: 1533 % up, Ethereum Classic: 3472 % up, Cosmos hub: 1585 % up, Monero: 1355 % up, Quant: 4030 % up, Trust Wallet: 6800 % up.
Read about results for 2023 or about dark horses cryptocurrencies.
Top Cryptocurrencies for 2023
As I mentioned before, this is the author’s opinion… The best for the author is not the best for everyone. I am honest in saying this… I care about profits that will be realized in the time range of 5 – 10 years … Choosing these cryptocurrencies in 2023 when we are at the bottom is legitimate.
The timing of the investment always plays a key role…
Consider that you invested in September 2021… If you didn’t lose all or most of your capital during the bear market in November 2021, you must wait until 2024 or 2025 (when exactly your choice) to realize your profits.
Profits: after nearly 3 or 4 years.
Now consider that you waited to invest until early 2023… Already in mid-2024, your positions should be very profitable.
Profits: after a maximum of 2 years.
2 or 4 years makes a difference.
What Do I Need All This For?
If you don’t have an investor mentality and you’re more of a gambler, don’t do it. He may and will make profits in a large number of cases, but the limit of luck is exhausted for everyone …
The more so that after many successful risky “licks” you are so arrogant that you think you are infallible. This leads to the bankruptcy of very risky “plays”.
It’s up to you if you think I’m wrong. I won’t argue because I know I’m right.
I Made a Choice
Without a doubt, some people may find this text partly philosophical. Remember, however, that only those who are more patient and wiser realize profits.
Also, remember that philosophy is “the love of wisdom.” When you make choices, you are either the voice of reason or the one who follows the crowd (mean sucker)!
The top 10 cryptocurrencies for 2023 are basically 10 cryptocurrencies for a long time. Don’t wait until the end of 2023 to buy, because you may be a bit late…
