Let’s open up your mental model to imagine a decentralized world where cryptocurrency is in everybody’s hands. Well, that’s too optimistic to be true for crypto in 2023, but statistics show that crypto is on its way toward mainstream adoption.
Though crypto was always popular among millennials, most regulators and banking giants were keeping a distance. However, in the last two years, the cryptocurrency market cap has seen a drastic change. There was a time when it even surpassed $3 trillion in a bull run.
It’s time for you to start investing in crypto, and to make it easy for you, here is a custom-made list of the top 10 cryptocurrencies to invest in 2023.
1. BITCOIN (BTC)
Current Market Capital: $329.4 Billion
No list of the top 10 cryptocurrencies goes on without the MVP of crypto itself, Bitcoin. No matter which coin goes down in the list, the top spot will always be reserved for Bitcoin.
Bitcoin serves as a perfect financial instrument for hedging against inflation, and that keeps the devotion of Bitcoiners alive and burning. No prize for guessing how gracious the growth of Bitcoin looks.
Bitcoin is very easy to buy, and it is extremely liquid, considering it is listed on almost all cryptocurrency exchanges and trading platforms worldwide. It is, therefore, the best investment for 2023.
In contrast to the claims of critics who said bitcoin dropped 75% from its ATH this year, it rose by 350% in similar conditions in the past where it dropped from its ATH. Moreover, Bitcoin increased by over 100000% during the last ten years.
Well, the future looks bright for Bitcoiners, isn’t it? It’s time to draw out a strategy to buy bitcoin in 2023.
2. Ethereum (ETH)
Current Market Capital: $154.8 Billion
When it comes to cryptocurrencies, Ethereum is only second to Bitcoin, making it the greatest bitcoin alternative to invest in 2023. That’s why we are placing it right below Bitcoin in our list of top 10 cryptocurrencies to buy.
ETH 2.0 has unlocked a lot of potential for Ethereum. Following the Ethereum merge, tons of developments took place in the Ethereum ecosystem. With improved transaction processing speeds, we expect to see even more technologies launch that will surely find a home in the Ethereum ecosystem. These new developments are bound to increase the demand for ETH tokens.
ETH has shown a massive growth from the year 2016 up to the year 2021 of 331420%, with an all-time high (ATH) of $4868.79. All these make us rank ETH in the list of top 10 cryptocurrencies to invest in 2023.
The recent market crash has opened up a wonderful opportunity for you to squeeze crypto into your investment portfolio.
Current Market Capital: $8.1 Billion
Polygon is one the most valuable and best-performing layer-two scaling solutions of Ethereum. Polygon helps existing projects to reduce costs and solve issues with network congestion.
We include it in our list of the best crypto coins to invest in 2023, given its proven resilience, impressive uptrend action in down market sentiment, and auspicious future.
Ethereum merge is aimed at correcting scalability and only provides a limited scalability improvement to the ETH network, implying that brands building on the network will still need to use Polygon to complement ETH’s scalability. This will massively drive the demand and price for MATIC tokens.
On the growth chart, Polygon has shown a significant rise of 91823.38% from April 2019 up to January 2022. We are including it among the top 10 cryptocurrencies to invest in 2023 because we expect MATIC’s prices to show an upward trend in the next year.
Current Market Capital: $14.2 Billion
Perhaps the most famous among meme coins, Dogecoin started off as a joke but soon raised many eyebrows, thus generating huge gains for its investors. It is the one coin that we bet is going to skyrocket in the next bull run.
In 2021, one of its most ardent supporters, Elon Musk, constantly promoted it on Twitter in a way that helped it to expand its community. Since then, It has quickly emerged as a payment token for several service providers, thanks to Tesla’s adoption.
No wonder DOGE hit an all-time high of $0.73 and saw a growth of 2942% from January 2021 to January 2022. The doge army is ready to make doge to $1 a reality, and their strong determination has made us add doge to our list of top 10 cryptocurrencies to invest in 2023.
Current Market Capital: $22.3 Billion
Binance is the largest cryptocurrency exchange in the world in terms of the daily trading volume of cryptocurrencies. So, it’s obvious everyone knows about its token BNB.
What places BNB in our top 10 cryptocurrencies is the smell of money from the 450000% growth it has shown since its ICO. Undoubtedly, BNB has become one of the fastest-growing cryptocurrencies and one of the best cryptos to invest in 2023.
Additionally, throughout the era of market contraction, Binance has aggressively acquired and developed partnership campaigns that target both crypto and non-crypto firms. This action will certainly increase the use cases for BNB tokens and broaden the Binance ecosystem, both of which will drive up the token’s value.
Binance also regularly ‘burns’ BNB tokens to reduce the total supply and stabilize their value over time, making it a deflationary token.
Current Market Capital: $1.42 Billion
ApeCoin is the newest in the list of top 10 cryptocurrencies to invest in 2023. ApeCoin is the governance token for the Ape DAO, which runs the trendy Bored Ape Yacht Club line of NFTs.
ApeCoin is gaining massive hype as the Bored Ape Yacht Club launched Otherside Metaverse, and ApeCoin is used as the currency of transaction in it. ApeCoin developers have also hinted at the possible launch of an ApeCoin mainnet.
Another key factor that will push ApeCoin to explode in 2023 is its plans to integrate into play-to-earn games developed by the Ubisoft-backed Animoca Brands. All these make ApeCoin the most sensible crypto investment for 2023.
7. Solana (SOL)
Current Market Capital: $5.03 Billion
Whether you’re looking for blockchain solutions for your business or want to explore cutting-edge technology, Solana can meet all your needs. Solana is a resilient crypto asset with a massively potent future. It has performed exemplarily well in the past. That’s why we have added it to our list of top 10 cryptocurrencies to invest in 2023.
Solana is much faster than its counterparts in terms of the number of transactions processed per second. It has relatively lower transaction fees compared to rival blockchains like Ethereum. It is expected that Solana may continue to lead the substitutes for Ethereum.
As for its history, SOL has seen a growth of 62300% in a matter of two years. After the latest crypto crash, even if it recovers to half of what it has accomplished thus far, you will still profit greatly from it. So we suggest you keep it under watch when you start to buy cryptocurrencies in 2023.
Current Market Capital: $3.7 Billion
Chain link is on the list of the top 10 cryptocurrencies to invest in 2023 for its strong fundamentals. Even though it is one of the best decentralized oracle systems available, its price is far undervalued.
Chain Link provides a bridge between real-world data and smart contracts on their blockchain network. Within these smart contracts, transactions can be completed using its currency, LINK. Chainlink network accelerates the transfer of tamper-proof data from off-chain sources to on-chain smart contracts.
This is a big deal because smart contracts need real-world data to run. This places Chainlink at the center of the blockchain industry. Essentially, the odds of LINK’s value will grow as more and more cryptos get adopted.
Current Market Capital: $11.1 Billion
Cardano is a proof-of-stake blockchain platform. It is the first such platform to be founded on peer-reviewed research and developed through evidence-based methods. Cardano is working to create DeFi products similar to those available on Ethereum and provide solutions for chain interoperability, legal contract tracing, voter fraud, etc.
Cardano is on the list of top 10 cryptocurrencies to invest in 2023 cause it’s massively undervalued right now. ADA token prices are wildly underpriced despite having a positive ROI and being among the ten largest cryptocurrencies. As the ecosystem integrates more technologies, we expect ADA token prices to shoot up.
10. Shiba Inu
Current Market Capital: $5.4 Billion
Shiba Inu is one of the most popular cryptocurrencies in the market. Shiba Inu gained notoriety as its price increased by more than 5,000,000% in the early 2021 crypto market rally.
Of course, we do not anticipate it to exhibit a similar price action anytime soon. Since much of its price action is driven by hype and crypto market performance, we consider it the best choice to end our list of top 10 cryptocurrencies to invest in 2023.
Also, Shib developers have taken significant steps toward proving its sustainability. They have established a token Launchpad, the Shibaswap DEX, and committed to increasing the burn rate for Shiba Inu tokens.
Before we part ways
Investing in cryptocurrency is quite a new phenomenon to many. Although this list of top 10 cryptocurrencies to invest in 2023 is a research-oriented effort from us, we do recommend you to do your own research before investing your money into any market. Because, just like the traditional market, there are ‘few risks’ involved here too.