Which Cryptocurrency is Likely to Triple its Value in 2023?

Which Cryptocurrency is Likely to Triple its Value in 2023?

The year 2022 has backed evidence of cryptocurrency’s volatility. Most cryptocurrencies have seen drastic crashes, and some of them completely wiped out from the market. With the crash draining the accounts, everyone is looking to double their money, and this article might help you triple it.

Luckily, similar to last year, Bitcoin and Ethereum are still holding top spots on the leaderboard. Currently, the total market cap of all cryptocurrencies is revolving around $2.25 trillion. This number says that crypto is gradually heading into the recovery phase. So, the year 2023 could bring a fruitful profit to crypto investors.

You can invest in any cryptocurrency that has the potential to triple its value, or you can just visit bitcoin-360-ai.com to continue trading BTC right now as it also has the potential to triple your returns and is considered the best of them all

Nevertheless, there are many cryptocurrencies to choose from. We’ll go over Doge, Avax, Qtum, and Matic. Each has potential, but none are sure-fire winners. The key is to select one that best meets your needs and desires.

1. DogeCoin (Doge)

Doge is people’s favorite cryptocurrency, it started as just a meme token but has grown a lot since its launch in 2013. Dogecoin is currently in the top 10 crypto currencies by market capitalization. Dogecoin is a peer-to-peer, open-source cryptocurrency.  It is the very first coin that comes to mind when talking about which crypto will triple its value in 2023.

Doge has low transaction fees and an infinite supply, making it an inflationary coin, and it uses the script algorithm from lightcoin. The price of dogecoin has soared a lot from its all-time high of $0.75, or say 87% down, but it still catches the eyes of a lot of investors. 

To state it out loudly, Elon Musk is so vocal about dogecoin that he is now known as the “dogefather”. After all, who wouldn’t want to invest in something that has the backing of the world’s richest man? It’s fair to say that when next year starts and investors also begin flocking in, they will absolutely pump dogecoin. 

Also Read: Everything about Dogechain the Layer 2 Network

2. Matic

Matic is the native token of polygon, a premier Layer 2 scaling solution for Ethereum. Since its launch in 2017, Matic has successfully achieved a lot of milestones. For the past few years there have been a lot of innovations happening in the polygon blockchain. 

Right now, with the crypto winter on our heads, every token has crashed. Matic is currently worth around $1. Last year, it was just about to reach $3. It is safe to assume that as soon as the market moves upward, this token will go to the moon. 

Thanks to the Merge, billions of new users are expected to enter web3. As Ethereum is already a market leader in sectors like blockchain gaming and the metaverse. It seems obvious that Polygon will use this success to lure in additional Web3 initiatives. Scratching on the development surface, Polygon is also bringing in NFT innovations. Polygon is also joining forces with brands for new initiatives like the Starbucks loyalty program.

Also Read: Meta allows Instagram Users to Mint & Trade NFTs using Polygon

3. AVAX

Avalanche is a decentralized platform that is a direct competitor of Ethereum. It was launched in the autumn of 2020 and its token AVAX has already climbed into the Top 20 cryptocurrencies by market capitalization in a short period. The platform is designed for high-speed transaction processing and uses three different types of blockchains, Exchange Chain (X-Chain), Platform Chain (P-Chain), and Contract Chain (C-Chain). Avalanche has also adopted the Snowman consensus mechanism to improve its security.

AVAX has a bright future, according to several indicators. Its flexibility will enable it to be used by a variety of enterprises. Avalanche is more configurable than Ethereum, which makes it a valuable short-term and long-term investment. 

As more people get involved in DeFi projects, AVAX will likely experience a surge in new transaction volume. Its transaction volume hit a record high on Aug. 8, more than the total volume of Ethereum and other Layer 2 scaling solutions. This trend could be a strong positive signal for the Avalanche in 2023.

4. QTUM

While QTUM is a young cryptocurrency, it’s already performing well. If the current trend continues, its performance will be bullish over the next five years. Although it’s difficult to predict the future of any cryptocurrency, it is possible to monitor its movement and make informed decisions. In the case of QTUM, investors should conduct research to determine whether or not the coin is worth investing in.

The price of QTUM has been following a trendline since its recent high of $4.33. Since then, it has traded in a descending channel, making lower and higher highs. Earlier this week, it broke through the support level of $3.0 and has since been bouncing between $2.70 and $3.0. The RSI indicator is also headed southward, which may signal that the coin’s price is in a downtrend.

Blockchain technology has become a powerful tool for businesses. Qtum’s Account Abstraction Layer allows engineers to upgrade their intelligent contracts continually. It also ensures compatibility with the UTXO transaction model. Qtum has established partnerships with major companies and is a great bet to outperform the market. Other payment coin-based networks, such as Stellar, aren’t as prominent. Stellar is only the 27th largest digital currency by market value.

Conclusion

In this post, we have told you about the cryptocurrencies that can triple your money. But results can fluctuate also. Trading on this will be beneficial. But always remember to do your own research before investing in any cryptocurrency.

Also Read: A Guide to do your own Research (DYOR) for Crypto Trading

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