While bitcoin is in the red zone for 2023, it is still an effective payment option for Premier League picks and exchanges. A plunge like this is an ideal opportunity to invest in cryptocurrencies, which are expected to appreciate this year and beyond.
However, with over 15,000 cryptocurrencies on the market, finding a strong and growing cryptocurrency is difficult. Paying attention to the basics rather than the price can increase your chances of picking a winner. Any cryptocurrency can go to the moon, but the safest will always have a strong foundation.
Which cryptocurrency will take off next? While thousands of other cryptocurrencies can suddenly rise in value at any moment, the most widely used cryptocurrencies, like Ethereum, Bitcoin, and Solana, are probably the safest digital assets to invest in.
Ethereum now completes the transition to Ethereum 2.0. This has excited many crypto investors, as evidenced by the price action following the August 2021 London Fork. By November 2021, Ethereum surged to its $4800 high.
Ethereum fundamentals are still strong, even though the market started falling in December and continued into January. Ethereum could hit new all-time highs in 2022 once the larger market stabilizes.
The Devconnect conference scheduled for April is one aspect that could start a new cycle of enthusiasm for Ethereum. Devconnect must show more clearly how Eth 2.0 is evolving.
Ethereum is likely to be the next cryptocurrency to rise in value in 2022 or 2023, but nothing is inevitable in the crypto world. The popularity of Eth2.0 almost guarantees it.
The cryptocurrency Litecoin, known as “Bitcoin silver to gold,” offers faster transaction speeds and lower costs than Bitcoin. It is a widely used cryptocurrency whose price is expected to rise next year. These are just a few cryptocurrencies that could skyrocket in value in 2023.
Any of these coins could be hugely profitable in the coming year with the right mix of variables.
As cryptocurrencies grow in popularity, more and more investors are turning to different asset classes associated with altcoins.
Bitcoin, the first cryptocurrency, is still the world’s most famous and popular cryptocurrency.
Despite recent volatility, it remains the most stable and secure option. Bitcoin’s acceptance as a payment method by more and more businesses and individuals suggests that its use will increase in the coming years.
Additionally, Bitcoin is consistently the frontrunner in predicting which coins will skyrocket.
Despite the ups and downs in the last few months, the trend is generally up, and many analysts believe its long-term potential is still powerful.
Binance Coin (BNB)
Binance’s native token, BNB, is the cryptocurrency closest to the market cap of Bitcoin or Ethereum. With a market valuation of around $46 billion, BNB is the third-largest cryptocurrency and more than twice as valuable as the second-largest non-stable coin.
The collapse of the FTX exchange in November hit the entire crypto market, but it may have been good news for one of FTX’s main rivals, Binance.
Binance is currently the most popular cryptocurrency trading platform. His most recent 24-hour trading volume on Binance is $11.6 billion, well ahead of his closest major competitor Coinbase Global Inc.’s $1.5 billion.
A decentralized blockchain network called Cardano has been in development since 2017. Since then, we’ve seen significant progress and plan to introduce smart contracts in 2021.
Cardano excels at mastering the blockchain trilemma of security, decentralization, and scalability with the Ouroboros proof-of-stake algorithm.
As Cardano’s technical prowess improves, we expect to see an increase in using Cardano as a starting point for apps. For this reason, ADA has a high potential and is expected to explode in value from 2022 to 2023.
Next on the list is Polygon (MATIC-USD). It helps scale Ethereum by providing a secondary chain connected to the Ethereum network. This network connects many potentially incompatible blockchain projects on Ethereum as a layer 2 scaling solution. Moreover, transactions are becoming faster and cheaper.
The cryptocurrency powering this Layer 2 platform is called MATIC-USD. To support the scaling of the Ethereum network, Polygon leverages its Proof of Stake (PoS) blockchain and commit chain connectivity. The aim is to address inefficiencies that may hinder the widespread use of blockchain technology.
Polygon is used by well-known decentralized finance (Defi) initiatives such as SushiSwap (SUSHI-USD), Curve (CRV-USD), and Aave (AAVE-USD). Additionally, Polygon Zero has just been activated by the network.
Zero-knowledge roll-up technology is used to transfer data over the network. Many people praise the low energy consumption. Over the past year, MATIC-USD has gained about 350%. However, this year (YTD) is down almost 35%.
Despite the decline, the cryptocurrency’s market value is still at $11.2 billion, making him one of the top 20 cryptocurrencies. We expect the number of apps using the Polygon network to grow significantly.