The past few years have seen a meteoric rise in the popularity of cryptocurrencies, resulting in the daily exchange of billions of dollars worth of these assets on financial exchanges worldwide. Consequently, a substantial amount of value has been generated in the market, and certain cryptocurrencies have witnessed extraordinary growth over time.
All such events have renewed the interest of investors in cryptos, especially since most of the tokens are available at the best possible price (courtesy of the crypto winter). So if you’re a beginner looking to jump into action, this article will guide you through the top crypto projects that could make a huge difference in 2023. Let’s check them out in the following sections of the blog!
Editor’s Picks For Exceptional Crypto Projects
- Token With Significant Recovery: MATIC
- Consistent Performer: CAKE
- Best To Earn Gains Over Long Term: BTC
- Token With A Multiplier Factor: ADA
Tokens To Keep An Eye On For 2023
Bitcoin (BTC):
When talking of the tokens to keep an eye on in 2023, you can’t possibly miss out on the industry’s ‘gold.’ Besides, BTC has gained significant reach in the first week of 2023. Bitcoin has many advantages over more conventional payment methods. The process is quick, safe, and confidential. Distributed ledger technology (Blockchain) ensures that all transactions and associated monies are secure and unchangeable.
Bitcoin eliminates the possibility of chargebacks, making it ideal for online transactions where privacy is paramount. Bitcoins can be bought and sold online using exchanges like Coinbase and Kraken. Users can also swap them for goods and services at various shops.
What’s more? Thanks to its popularity, Bitcoin has multiple utilities. Today, it may be used to buy anything from plane tickets to clothing and food without the added costs associated with using a credit card or a bank transfer. In addition, BTC is often referred to as a store of value in the industry, primarily for its position as the #1 token by market cap and the project being the first-ever cryptocurrency. All these factors add some edge to the token and its price.
Why 2023 Could Be A Great Opportunity?
The token is currently revolving around the $17,000 mark after having touched a price range like $60,000. This makes a perfect entry point for investors who want to get into action.
Polygon (MATIC)
Polygon, or the Polygon Network, is a cutting-edge Blockchain platform with the potential to radically alter how Blockchain networks are interconnected and grow in size. It uses a proof-of-stake consensus mechanism for processing transactions on-chain, making it completely compatible with the Ethereum Blockchain. Furthermore, Polygon’s secure transactions are guaranteed by the network’s tie to Ethereum’s Blockchain.
Its native token, MATIC, is a crucial component. The Polygon network’s dApps accept this currency as payment, and it’s used in other ways to support and incentivize interactions and transactions on the network as well. Everything from decentralized autonomous organizations (DAOs) and non-fungible currencies to decentralized finance (Defi) platforms can be considered decentralized applications (dApps) (NFTs).
What’s more? Polygon’s modified proof of stake consensus technique is another key feature. With this system, the consensus is reached with each new block, allowing for transactions to be processed and approved considerably quicker than with proof-of-work systems. Because of this, the Polygon network is well-suited for high-throughput scenarios like online gaming, decentralized currency exchanges, and similar use cases.
Why 2023 Could Be A Great Opportunity?
Our analysis at Blockchain Gossip suggests that MATIC has entered an uptrend since the beginning of 2023. The token has greatly recovered from its $0.7 stage and might soon surpass the dollar mark.
Shiba Inu (SHIB)
Shibu Inu is a one-of-a-kind and intriguing token that has attracted many individuals in the cryptocurrency world curiosity. Its unique burning process and strong community presence set it apart from other currencies, and these characteristics could make it a worthwhile addition to the cryptocurrency portfolio of any investor.
In recent years, the cryptocurrency token known as Shibu Inu has garnered much attention due to its rising popularity. It is a decentralized digital assets network built on the Blockchain technology used by Ethereum. The Shiba Inu dog breed, which is well-known for its outgoing and friendly personality, inspired the naming of this coin. Using a “burning mechanism” is one of the distinctive characteristics of the Shibu Inu breed.
This means that a portion of the token supply is regularly burned, which reduces the circulating amount and potentially increases the value of the tokens still in circulation. This approach is utilized to counteract inflation and maintain a steady value for the token. In addition, the Shibu Inu community has a large presence online, with many users taking part in online forums and social media groups to talk about the token and speculate on its possible future.
Why 2023 Could Be A Great Opportunity?
The final months of 2022 greatly affected the price movement of the Shiba Inu token, pushing it to perform at a rangebound motion. However, since it entered 2023, the token has moved above its resistance line, highlighting a positive uptrend for the coming months.
PancakeSwap (CAKE)
Next, we have PancakeSwap, a unique project that isn’t just a trading platform; it also has an integrated yield-farming system where users can earn interest on their deposits by supplying liquidity to various pools. Because it allows clients to automatically receive dividends just for keeping their assets on the platform, this function has proven to be well-received by users. As a result, PancakeSwap is a well-liked and cutting-edge exchange that facilitates safe, low-cost transactions on the Binance Smart Chain.
Based on the Binance Smart Chain (BSC), PancakeSwap is a decentralized exchange (DEX) that facilitates the direct trading of various cryptocurrencies between users. It was released in September 2020 and has since been one of the most widely used DEXs on the BSC. Liquidity pools are a significant component of PancakeSwap, allowing users to contribute liquidity to the platform in exchange for a cut in trading fees. A decentralized trading system has many advantages, including lower transaction costs, more security, and increased resistance to hacking.
The Binance Smart Chain, a high-performance Blockchain with faster transaction speeds and lower costs than other Blockchains like Ethereum, is integrated into PancakeSwap. Because of this, both traders and liquidity providers can benefit from the platform’s increased speed and efficiency. In addition to Bitcoin, Ethereum, and Binance Coins, PancakeSwap supports many other cryptocurrencies and trading pairs. The platform also enables traders to employ risk-management and profit-maximizing tactics, including limit orders, market orders, and stop-loss orders.
Why 2023 Could Be A Great Opportunity?
CAKE has been revolving above its support line since December 2022. However, it wasn’t until January 2023 that the token finally moved above the $3.08 level, showing a change in its previous resistance and support levels. If the token continues its movement, we might soon see CAKE reach the $4 mark.
STEPN (GMT)
Standing fourth on our list is STEPN, a unique breakthrough in the Web 3.0 space. Unlike other platforms that revolve around a game or some service, STEPN takes a different approach to sort the lifestyle industry in this space with its application known as STEPN.
The project has successfully combined the ideas of working out and earning money by utilizing its one-of-a-kind features, such as SocialFi and GameFi. Within the Blockchain sector, the novel concept of “move-to-earn” has quickly become one of the most well-known methods for encouraging individuals to lead healthier lifestyles.
Find Satoshi Lab, a well-known fintech studio headquartered in Australia, is the creative force behind this game-changing program. Find Satoshi Lab has a long history of making significant contributions to the industry. However, they are particularly well-known for their dominance in the 2021 Solana Ignition Hackathon Gaming Track, where they emerged as the top team and won the competition.
Why 2023 Could Be A Great Opportunity?
Apart from being a project targeting a unique industry aspect, STEPN has tapped into an industry of limitless possibilities. However, apart from the fundamentals, the project has been able to scale up from $0.23 to $0.34 in just a week, showing strong bullish patterns for the remainder of the year.
Cardano (ADA)
Cardano is both a Blockchain network and a cryptocurrency that employs a proof-of-stake consensus method called Ouroboros. They developed it at IOHK (Input Output Hong Kong), a Blockchain technology R&D firm. Cardano consists of two layers: the Cardano Settlement Layer (CSL) and the Cardano Computation Layer (CCL) (CCL). The CSL is used for buying and selling ADA and transferring it between users, whereas the CCL is utilized in DApps and smart contracts (dApps).
The network’s native coin, ADA, can cover the cost of transactions and other network services. In 2015, it was released by Charles Hoskinson, who is also credited with creating Ethereum. Cardano is a Blockchain platform considered third-generation since it attempts to solve the scalability and longevity problems plaguing Bitcoin and Ethereum.
One of its most notable aspects is the use of formal verification to mathematically prove the correctness of the code used in the Cardano platform. The eventual goal is to tighten up the system’s defenses and make it less susceptible to faults and exploits. In addition, the Cardano platform has a treasury system that allocates a percentage of transaction fees to support community initiatives and further platform development.
Why 2023 Could Be A Great Opportunity?
Similar to STEPN, ADA has also been on the positive side of changes for the year’s first week. The token has added $0.80 in its value going from $0.24 to $0.32 in just a week. This indicates a change of motion as the token has moved beyond its resistance line.
Ripple (XRP)
The XRP Ledger is an open-source Blockchain platform that is the native home of the cryptocurrency known as XRP. XRP is also a digital asset. The Ripple Foundation is a non-profit organization responsible for the platform’s development and upkeep. The Ripple Foundation is also responsible for the maintenance of the XRP Ledger. The coin was created to function as both a medium of exchange and a store of value.
Additionally, it can be utilized to facilitate payments across international borders as well as other types of financial transactions. XRP can be purchased and sold on various cryptocurrency exchanges, and it can also be held in digital wallets that support the XRP Ledger. XRP Ledger is a decentralized public ledger that stores transaction information.
What’s more? Ripple sits at the base of many businesses and organizations, sorting out several aspects of transactions in no time. Moreover, its overall scalability and security make it a great option for users to make the most of their transactions.
Why 2023 Could Be A Great Opportunity?
2023 could finally be a moment of relief for the Ripple token! Following almost a year of underperformance and a fall in value, the token has finally pushed itself beyond its last month’s low. XRP has already made a positive $0.20% change since last week, showing signs of correction.
Invest Wisely!
While our team at Blockchain Gossips has tried our best to give you a first-hand idea of some tokens to look out for in 2023, it’s mere speculation. The crypto industry is all about volatility, and there’s no sure-shot way to comment on the success of any token. So it’s always wise to conduct your own research and invest in any project. All the best!
