Investing in cryptos with the biggest potential in 2023 can generate substantial returns as the crypto market rebounds. Read this post to know the top 10 cryptocurrencies that can provide stellar growth in 2023.
In any asset market, there are different types of investors. Short-term investors want to generate returns in a few months or in even weeks or days. Then there are the long-term investors who invest for several years. No matter what type of investor you are, you need to have a sound investing strategy and defined investment goals. Moreover, you need to conduct relevant fundamental and technical analyses to pick your top investment assets. The crypto market is not any different.
Picking the right cryptos for short or long-term investment is not an easy task given the large number of crypto coins available in the market. Currently, there are above 9,000 crypto coins and tokens. Probably, it will take months if not years for you to know about all of them. So, we have made this task easier for you by short-listing 10 cryptos with the highest potential in 2023. These cryptos have solid fundamentals and myriad use cases. They are expected to provide excellent returns in the short to medium term. Read this complete post to know the top 10 cryptos that can give excellent returns in 2023 and the logic behind investing in them.
- 1. Bitcoin (BTC)
- 2. Ethereum (ETH)
- 3. Binance Coin (BNB)
- 4. Cardano (ADA)
- 5. Polygon (MATIC)
- 6. Dogecoin (DOGE)
- 7. XRP (XRP)
- 8. Litecoin (LTC)
- 9. Tron (TRX)
- 10. Monero (XMR)
- 11. A Few Words of Caution
- 12. Cryptos with the Biggest Potential FAQ
1. Bitcoin (BTC)
Current price: $30,566
Market capitalization: $593.7 billion.
No cryptocurrency investment list can exclude Bitcoin because of its market-leading position, reputation, and pioneering technology. Bitcoin is the first and the most valued cryptocurrency. Currently, about 48% of the entire crypto market’s value comes from Bitcoin. After reading this article, we invite you to learn more about Bitcoin by reading our BTC beginner's guide which you can access with our links.
Bitcoin was introduced in 2008 by an anonymous person or group of people named Satoshi Nakamoto. It offers a decentralized and peer-to-peer payment mode. After the introduction of Bitcoins, hundreds of other cryptocurrencies have been developed with different variations of Bitcoin’s underlying technologies.
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Trading of Bitcoins started in 2010 and its value reached $1 for the first time in 2011. Moving forward Bitcoin had a volatile price history. It touched its all-time high value of $68,990 in November 2021. In 2022, the entire crypto market experienced a brutal bear market in which Bitcoin lost about 70% of its market value to trade below the $16,000 mark. However, starting from January 2023, Bitcoin has shown an astounding rebound to reach above $30,000.
According to our research, Bitcoin is expected to be one of the best-performing cryptos in 2023. The excellent price momentum and overall positive sentiment regarding cryptos make Bitcoin an excellent buy in 2023. If you would like to know more about how to purchase Bitcoin, read our free guide.
2. Ethereum (ETH)
Current price: $1,866
Market capitalization: $224 Billion
Ethereum (crypto symbol: ETH) is the second most valued cryptocurrency after Bitcoin. It’s also the most promising crypto coin supporting smart contracts. Introduced in 2015, Ethereum intends to build on Bitcoin’s technology for creating the most comprehensive cryptocurrency to support Web3, a more decentralized version of the Internet.
Bitcoin is a specific-purpose blockchain. So, it’s most suited for making payments. However, Ethereum is a general-purpose blockchain that supports thousands of Decentralized Applications (dApps) which can be used to make payments, play games, join social media platforms, or for many other purposes. So, if Bitcoin is like a specific Internet application like Email, Ethereum is like the Internet itself.
One of the main characteristics of Ethereum is its smart contracts, which automatically execute contracts when specific conditions are met. Ethereum’s smart contract is the primary platform of hundreds of dApps, Decentralized Finance (DeFi) protocols, and Non-fungible Tokens (NFTs).
Ethereum’s price experienced a major correction in 2022 along with the broader crypto market. However, ETH has rebounded by more than 50% in 2023, making it one of the best-performing crypto assets. Our data indices that follow BTC’s lead, Ethereum is also expected to perform extremely well in 2023. To find the best crypto exchange to purchase Ethereum, check out our article to help you decide where to buy crypto.
3. Binance Coin (BNB)
Current price: $246.31
Market capitalization: $38.4 billion
Binance Coin, which trades by the symbol BNB, was issued by the leading crypto exchange Binance. BNB is the native cryptocurrency of the BNB Chain ecosystem. So, BNB can not only be traded like other crypto coins but it can also be used as a medium of transaction for using an array of applications on the Binance Smart Chain, which is a crypto platform. BNB was introduced in 2017 through an Initial Coin Offering (ICO).
BNB is one of our preferred crypto coins for 2023 for its strong backing by the Binance crypto exchange and its large number of use cases. BNB can be traded using all major crypto exchanges. We expect BNB to generate excellent returns in 2023 because of its strong fundamentals.
4. Cardano (ADA)
Current price: $0.2914
Market capitalization: $10.18 billion
Cardano (crypto symbol: ADA) is a highly innovative crypto platform based on the energy-efficient consensus mechanism Proof-of-Stake (PoS). The PoS consensus mechanism is considered the most important crypto consensus mechanism for the future because of its low energy requirements compared to Proof of Work (PoW).
Cardano was publicly launched in 2017 and it reached a peak market capital of 77 billion in 2021. However, Cardano's price plunged significantly in 2022 when the entire crypto market went through a major bearish period. However, starting from the beginning of 2023, ADA’s price has been consolidating. ADA is also one of the cheapest cryptocurrencies with a current trading price of around $0.29. It can prove to be one of the best crypto investments in 2023 because of its energy efficiency, innovation, and diverse use cases. One of our favourite places to trade Cardano is Bybit, you can check out a fantastic Bybit bonus code today by reading our article.
5. Polygon (MATIC)
Current price: $0.7385
Market capitalization: $6.88 billion
With a market cap of about $6.88 billion, Polygon (crypto symbol: MATIC) is the 12th largest cryptocurrency in the market. Also, it’s one of the cheapest crypto coins, which is available for less than a dollar.
Polygon is an innovative blockchain platform that provides scaling solutions to the Ethereum blockchain. So, Polygon helps the Ethereum blockchain process more transactions per second. This way, Polygon intends to build a multi-chain blockchain system compatible with Ethereum. MATIC is the native token of Polygon. To purchase Polygon with an exclusive bonus, use our BTSE referral code when you register.
6. Dogecoin (DOGE)
Current price: $0.06537
Market cap: $9.15 billion
Dogecoin (crypto symbol: DOGE), which was introduced in December 2013 as a meme coin, is now the 8th most-valued cryptocurrency with a market cap of more than $9 billion. DOGE got immense popularity after the backing of serial entrepreneur and technology evangelist Elon Musk, which is also a crypto-enthusiast. Dogecoin reached a peak market capitalization of over $85 billion in May 2021. However, the coin took a significant beating in 2022 due to a severe bear market engulfing the entire crypto market.
7. XRP (XRP)
Current price: $0.4752
Market capitalization: $25 billion
With a current market price of about $0.47, XRP is one of the cheapest cryptocurrencies in the market for investing in 2023. Also, a market capitalization of about $25 billion makes XRP the 6th most-valued cryptocurrency.
XRP is the crypto token of the blockchain firm Ripple. XRP was developed as a cryptocurrency for applications in all spheres of the global financial service industry. Currently, XRP provides utility to companies, institutions, developers, and individuals in the financial industry. The large number of potential use cases of XRP make it an excellent investment option in the crypto space in 2023.
Our analysis suggests that XRP can be one of the top-performing cryptos in 2023. XRP’s price declined significantly in 2022 due to the crypto bear market. However, the consolidation in the price of XRP in 2023 with higher volume indicates a potentially large up move in the short to medium terms. Include XRP in your crypto portfolio to maximize returns from your crypto investments.
8. Litecoin (LTC)
Current price: $97.17
Market capitalization: $7.13 billion
Litecoin (crypto symbol: LTC) is currently the 10th most-valued cryptocurrency with a market capitalization of over $7 billion. Litecoin originated from the Bitcoin blockchain as a fork in 2011. So, LTC is one of the oldest altcoins to survive all these years. Note that all crypto coins except Bitcoin are called altcoins as BTC is considered the primary cryptocurrency.
Similar to Bitcoin, LTC also has a limited supply. The maximum supply of LTC is 84 million. Also, like Bitcoins, the objective of LTC is to process payments and other financial transactions in a peer-to-peer environment. LTC’s transaction confirmation time of 2.5 minutes is much lower than that of Bitcoin’s 10 minutes. This makes LTC a highly convenient payment mode for small merchants.
LTC had a major correction in 2022 due to the severe bear market in the larger crypto industry. However, starting from the beginning of 2023, LTC has recovered more than 30%. LTC is showing great momentum and it’s one of the most potential cryptos in 2023.
The fast transaction speed along with its excellent use cases make LTC one of the most valuable cryptos to watch out for. Our fundamental and technical analyses suggest LTC is one of the top crypto coins to invest in 2023 for stellar gains. To purchase Litecoin or any other cryptocurrency, check out the KuCoin promo code article to discover more.
9. Tron (TRX)
Current price: $0.07785
Market capitalization: $6.9 billion
Tron (crypto symbol: TRX) is one of the cheapest cryptos available for less than $1. Its $6.9 billion market cap makes it the 11th most valuable cryptocurrency. TRX is a highly popular crypto coin listed in over 130 crypto exchanges globally. TRX is the native cryptocurrency of the Tron blockchain ecosystem that supports decentralized applications (dApps). The fact that Tron uses the Proof of Stake (PoS) consensus mechanism, makes it a highly energy-efficient blockchain platform.
Energy efficiency, high transaction processing capabilities, and superior scalability make Tron one of the top contenders in the dApps space. This means with higher adoption of Tron, the value of TRX is expected to go up significantly. So, TRX is a fundamentally strong crypto that can potentially explode in 2023 to generate high returns.
After significant corrections in 2022’s crypto bear market, Tron has moved up more than 40% in 2023. Its excellent price momentum and strong fundamentals make TRX one of the top cryptos with high growth potential in 2023 TRX can explode in 2023 to outperform many of its peers as dApps become more popular. So, you must include TRX to not only diversify your crypto portfolio but also optimize your portfolio’s returns.
10. Monero (XMR)
Current price: $164.43
Market capitalization: $3 billion
Monero (crypto symbol: XMR) is one of our top choices in the crypto space for investing in2023. It’s a decentralized cryptocurrency that intends to secure financial transactions. Monero’s main focuses are privacy and anonymity of financial transactions. It has many privacy features which are not available in other cryptocurrencies.
Our data suggest that with greater adoption and demand for XMR, its price can appreciate significantly in 2023. This crypto coin has high potential due to its use cases. Include XMR in your crypto portfolio for significant returns in 2023.
11. A Few Words of Caution
We prepared the aforementioned list of cryptos with high growth potential in 2023 after analyzing market data, the functionalities of these cryptos, and the trend in the overall crypto market. The crypto coins mentioned in the list have high growth potential in the short to medium term due to crypto market dynamics and the demand for these cryptos. Remember, you can also get a range of Bitcoin bonus codes and much more at our homepage.
However, as we have seen in the past, the crypto market can be highly volatile. The performance of individual cryptocurrencies depends a lot on the overall market sentiment. Also, the crypto market is affected by macroeconomic factors like economic growth, inflation, liquidity, interest rates, etc. So, always conduct your own research and due diligence before investing in risky assets like cryptos. Lastly, you need to adopt excellent risk management practices to maximize gain while protecting your capital in any kind of investment. If you would like to learn more about crypto, our team of experts at JohnnyBitcoin invites you to read our free guide to cryptocurrency which you can access for free.
12. Cryptos with the Biggest Potential FAQ
12.1 💰 What are cryptocurrencies?
Cryptocurrency is a currency in a digital form, which can be used for online payments or kept as an investment.
12.2 💰 Where can I buy crypto?
Cryptocurrencies can be bought at cryptocurrency exchanges. You can find the reviews of many of them on our website.
12.3 💰 Which crypto has the highest potential?
It is hard to pick just one cryptocurrency which can possibly bring the biggest profits, but, in our opinion Bitcoin, Ethereum, Binance Coin, Cardano, Polygon, Dogecoin, XRP, Litecoin, Tron and Monero are the cryptos with the biggest potential.