Top 5 cryptos to keep an eye on in 2023

This article tries to answer one of the most frequent questions in the crypto space: Which cryptocurrency is the best to invest in now? First things first, there is no coin that is the “best” across time. The market is always changing—especially so with the crypto market. So, the best we can do, for now, is tell you what the top 5 crypto projects of 2023 are. The list below consists of some evergreen coins that the market is usually optimistic about.

Overview

The crypto industry is set to have a dynamic 2023. Uncertainty surrounds the market’s future direction, and many wonder how long the FTX aftermath will last. While some experts are managing to stay optimistic about the crypto market’s medium-term prospects, others are not so sure. However, if you do decide to buy in, this is your one-stop guide on some of the more popular options out there.

The advantage of investing in a popular coin is that it’s likely to be more well-established and have greater liquidity. The former is likely to mean that the developers of the protocol have invested more in securing the platform. And safety is, of course, a key concern of all sensible investors. The liquidity aspect of it will help when you eventually want to sell your coin. The more the number of people trading a coin, the higher the likelihood that you will find a buyer at your price.

The best 5 cryptos in 2023

There are innumerable options in the crypto market. But that doesn’t mean you pick a random coin or just take what everyone else buys. All trading decisions should be based on plenty of research and meticulous calculations. To get your research ball rolling, here are some of the most well-established and popular coins in the market this year.

Bitcoin (BTC)

Many consider Bitcoin the top cryptocurrency of our age. It’s true that it is one of the most well-established players in the market, and everyone is watching it closely as we head into the second month of this year.

Bitcoin, however, has the—somewhat mistaken—reputation of being the first of its kind. That adds to its popularity and reputation of time-testedness. That said, it does command a sizable portion of the market and has had several bull runs.

Bitcoin is one of the few digital assets one may want to consider for long-term investment purposes in 2023. It’s the closest thing, many crypto investors say, to a “good bet.” The asset’s continuous outperformance also makes it a solid inflation hedge.

Ethereum (ETH)

Ethereum may be considered one of the best cryptocurrency platforms in the market. It is the second largest in terms of market cap. One could even argue that the asset’s widespread applicability, including but not limited to the trendy domains of DeFi and NFTs, makes it superior to Bitcoin.

This asset has been a solid investment because it has several good use cases. Though it had lost nearly 70% of its value from its all-time high of $4,800 before the bear market began last year, ETH is still a formidable crypto. It is widely predicted to achieve spectacular gains in the next bull market.

Dogecoin (DOGE)

Dogecoin’s inclusion on this list may seem random to some due to its memecoin status. But this crypto has come a long way since its inception as a social media joke. It is now one of the most widely used digital currencies, with backers including business magnate Elon Musk.

Over 4.5 million people now own the DOGE token, and the cryptocurrency’s social media presence has exploded. Dogecoin’s Twitter handle has over 3.5 million followers. This indicates that, despite the asset’s low value, there is still a significant amount of trust in the digital currency. And a crypto community can make a huge impace on its price, as was evident from the 2021 bull run.

Binance Coin (BNB)

Binance Coin (BNB) is a strong contender among the top performers in the current market. The currency has maintained its value throughout the bear market far better than competitors like Bitcoin and Ethereum. The BNB token is supported by Binance, the company behind the popular cryptocurrency exchange of the same name. Thanks largely to its association with the powerful company, the asset has risen among the ranks of the top cryptos to become the world’s fifth-largest cryptocurrency by market capitalization.

Having weathered the bank run that ultimately doomed FTX, Binance, and BNB still seem to be on solid ground.

XRP (XRP)

Ripple is a real-time gross settlement system, currency exchange, and remittance network. The network was created by Ripple Labs Inc., a US-based technology company.

The action brought against Ripple by the Securities and Exchange Commission (SEC) stifled the platform’s digital currency, XRP, to some extent. However, it appears that a resolution is probably not too far away. If Ripple were to win this lawsuit before the SEC, the price of XRP would undoubtedly skyrocket.

That said, this option is surely riskier than others—because the lawsuit going south is not a possibility one can entirely discount yet. So, while one could make a lot of money, the other possibility is something you should definitely factor in.

Conclusion

While there are objective answers to these things, we hope this article has helped you figure out which cryptocurrency is the best to invest in now—for you. Whatever you choose, remember that there are several risks involved in crypto investing. Some such risks have caused the collapse of some business empires and the loss of all investment capital in the past. So, make sure to understand some advantages and disadvantages of each crypto before investing.

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