Introduction
Indeed, it’s time to return to the previous article about the best cryptocurrencies in 2023.
The reason is obvious, surely. Further to say, 2023 is over and it’s time to compare cryptocurrency prices in 2023 to see what rates of return could be achieved. I’m starting too!
The Best Cryptocurrencies for 2023
Bitcoin Price Analysis
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 01.2023: $321 billion, resources: 19,236,206 / 21,000,000
Capitalization 01.2024: $863 billion, resources: 19,590,425 / 21,000,000
Change: 264%
Official website: Bitcoin
Ethereum Price Analysis
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 01.2023: $142 billion, resources: infinite
Capitalization 01.2024: $270.5 billion, resources: infinite
Change: 186%
Official website: Ethereum
BNB Price Analysis
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
Capitalization 01.2024: 49.1 billion, resource: 153,856,150 / 200,000,000
Change: – 62%
Official website: Binance
Polygon Price Analysis
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
Capitalization 01.2024: 7.87 billion, resources: 9,282,943,566 / 10,000,000
Change: -9%
Official website: Polygon
Litecoin Price Analysis
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
Capitalization 01.2024: $4.86 billion, resources: 74,059,070 / 84,000,000
Change: -7%
Official website: Litecoin
TRON Price Analysis
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
Capitalization 01.2024: $9.25 billion, resources: infinite
Change: 200%
Official website: TRON
Ethereum Classic Price Analysis
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
Capitalization 01.2024: $2.86 billion, resources: 143,202,119 / 210,700,000
Change: 29%
Official website: Ethereum Classic
Cosmos Hub Price Analysis
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
Capitalization 01.2024: $4 billion, resource: infinite
Change: 11,8%
Official website: Cosmos network
Monero Price Analysis
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
Capitalization 01.2024: $2.9 billion, resource: infinite
Change: 8%
Official website: Monero
Quant Price Analysis
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
Capitalization 01.2024: $1.76 billion, resources: 14,544,176 / 14,612,493)
Change: 15%
Official website: Quant
Trust Wallet Price Analysis
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
Capitalization 01.2024: $0.47 billion, resources: 416649900 / 1,000,000,000
Change: -20%
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.
More Risky the Best Crypto
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, also 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 Before and After: $159 million / $250 million
Change: 195%
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 Before and After: $115 million / $270 million
Change: 220%
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 Before and After: $65 million / $270 million
Change: 287,5%
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.
Additionally, I will explain that capitalization before and after means capitalization while writing the text in early 2023 and early 2024.
When I did, I summarized the investment returns in this article.
The Best Cryptocurrencies 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 The Best Cryptocurrencies
In this section, I decided to collect and summarize the results together.
This is not a section devoted to conclusions. This is a section typically devoted to numbers.
Well, yes, because the numbers speak for themselves. They can be interpreted in different ways, but…
If they bring a return, it means that the numbers agree with the assumptions. That’s what I always mean.
As you can easily see, the riskiest assets have gained more.
Especially since there is a trend on the market for projects related to artificial intelligence. This also applies to the cryptocurrency market.
Even before the boom in this type of projects, I assumed that the trend would come. And he came.
The biggest surprise is the loss associated with Binance Coin. All this is due to the change of CEO at Binance.
I am still convinced that BNB is a good cryptocurrency. Despite the losses!
The Best Cryptocurrencies for 2024
There may certainly be a question whether cryptocurrencies from 2023 can still be the best in 2024.
I have two good news for you… Yes and no. I’ll explain in a moment.
First of all, I chose these cryptocurrencies because they have strong fundamentals.
2023 was a bull market year, but the bull market usually lasts several years. So I can easily write that choosing these cryptocurrencies for your portfolio is not a bad choice.
The only thing left is to choose the proportions, but…
The bad news is that the prices of these cryptocurrencies have already increased in this case. So you won’t be able to take full advantage of what the market has to offer.
The best cryptocurrencies in 2023 are still relevant, but… By taking more risks, you can earn a little more or lose everything!
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.
Conclusion
At the beginning of 2023, so I selected several cryptocurrencies and identified them as the best cryptocurrencies in 2023.
Did they really bring the best rates of return, surely?
Maybe not, but apart from the rates of return, they certainly represent solid projects. That is, those that are well thought out.
Of course, rates of return are important. After all, that’s why you invest money.
