Dogecoin – One of the top meme coins expected to boost in 2023.
Cardano – is a must-have active cryptocurrency project in the market.
Tron – is a cryptocurrency with huge upside potential.
Polygon – A clear strategy for how blockchain can power business in the future.
Ripple – As its legal case nears its conclusion, it is expected to rise in value.
In 2022, the cryptocurrency market faced several major challenges, which tends to result in a prolonged crypto winter. It comes as no surprise that market volatility has become a growing source of concern for investors. However, this year saw an increase in the number of retail and institutional investors entering the cryptocurrency market.
Dogecoin (DOGE)
When Elon Musk start talking about Dogecoin on social media platforms in 2020, it became a lucrative investment option for investors. As a result, it became one of the best-performing cryptos in 2021, reaching a peak at $0.7376 in May.
DOGE has also been adopted for payment by a number of large organisations, including Tesla and the Dallas Mavericks. Currently, the Dogecoin team is constantly working to improve the token’s utility, adding it to the list of top cryptos predicted to soar in 2023.
However, the recent increase in price in DOGE is primarily due to Elon’s successful acquisition of the social media giant Twitter.
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Cardano (ADA)
Due to its strong network fundamentals, Cardano remains one of the best cryptocurrencies with the most upside. Because of its mass adoption of the Proof-of-Stake method, the blockchain is scalable, secure, decentralized, and highly energy efficient. ADA has provided significant returns to its users since its inception. Cardano appears to be gaining popularity in the DeFi sector as well, making it a good buy right now.
Experts predict that ADA will soar in 2023, after the blockchain has completed its long-awaited hard fork, the Vasil upgrade. It has advanced the blockchain network’s performance and capabilities. One of the most significant fork developments was block transmission without complete validation and faster block formation. Its Hydra update, which will accelerate and reduce the cost of Cardano and its entire DeFi ecosystem, is also in the works.
Tron (TRX)
Tron is an excellent investment if you want a low-cost, stable cryptocurrency with low volatility. TRX, the native token, is the basis for all transactions between content creators and buyers. TRON’s chosen beneficiaries are the most active social media users and game players.
Tron is expanding its network across the majority of continents, including the Americas and Asia-Pacific, and plans to expand to other continents as well. It has three layers: a storage layer, a core layer, and an application layer. The crypto also has numerous modules in the TRON core layer, such as smart contracts, account management, and consensus, providing TRX with massive future growth potential.
Ripple (XRP)
The main idea behind Ripple is to create a way to transfer money that will appeal to more people in this age of increasing globalization. On the Ripple network, XRP facilitates money transfers between different currencies. The network’s speed and efficiency have led to its adoption by large mainstream financial institutions and banks such as Bank of America and Spanish banking giant Santander.
XRP has had a hard year, having been struck by more than the crypto winter of 2022. Ripple Labs, its parent company, has been involved in an SEC lawsuit since the late 2020s. The legal proceedings have decided to lower the valuations and price of XRP. However, as the dust settles on the case, investors are becoming more bullish on the token, and XRP is expected to soar in 2023.
Polygon (MATIC)
The Polygon network’s primary goal is to boost the overall speed and efficiency of the blockchain ecosystem. People preferred blockchain based because they are cheaper and faster. Polygon has also seen an increase in transaction volume since the beginning of the year. MATIC is on a bullish path, with continued growth in wallet addresses and network efficiency, and is expected to soar in 2023.
Furthermore, Polygon is expanding its network by partnering with top brands to include customer loyalty programmes that integrate crypto tokens, NFTs, and Web 3.0 experiences, including a new programme for Starbucks. This is powered by a technology known as Supernets, an exciting game-changing strategy that will drive the price of MATIC higher in the coming years.
Another reason MATIC is expected to soar in 2023 is its partnership with Nubank, a fintech bank backed by Warren Buffett’s Berkshire Hathaway. Nubank intends to create its own loyalty tokens using Polygon technology.
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Disclaimer:
The information in this article is solely the author’s opinion and does not constitute investment advice; it is provided solely for educational purposes. By using this, you acknowledge that the information does not constitute investment or financial advice. Before making any investment decisions, do your own research and consult with financial advisors.