Cryptocurrencies are rapidly gaining acceptance in various quarters today. They’re used as a means of digital payment on various online platforms, from car makers like Tesla to betting platforms like bitcasino.io.
2022 has not been particularly kind to cryptocurrency investors, given the extended bear market run. As traders seek to pick up the pieces of whatever is left of their crypto portfolios, hopeful eyes are cast around the market in a bid to find the next promising token. Let’s take a look at some of the top cryptocurrencies for 2023 with the potential to pump:
#1. Ethereum (ETH)
Given its reputation and place in the blockchain industry, it’s no surprise that Ethereum is the first name on our list. Ethereum has gone through quite the merry-go-round in 2022, seeing its value drop to about $1,6000 from previous highs of nearly $5,000.
Being the second largest cryptocurrency by market cap, ETH is one of the most widely traded tokens, with many investors likely to have it in their portfolios. Also, in light of its recent merge (a switch from a Proof-of-Work to a Proof-of-Stake consensus mechanism), ETH’s value is expected to soar significantly in the new year.
#2. Ripple (XRP)
Like Bitcoin, Ripple is primarily designed to be a payment platform. It is a money transfer ecosystem that serves the needs of financial institutions. Today, XRP is one of the largest cryptocurrencies by market cap and is valued at $0.4999.
From its launch, Ripple was created to replace the global inter-banking system SWIFT and act as an alternative settlement layer between various financial institutions. It offers higher speeds and a much lower transaction fee than existing systems.
Although its developers have had to endure a lengthy lawsuit involving the Securities and Exchange Commission (SEC), an end to the matter is in sight, one set to favor Ripple. Consequently, it will be no surprise to see XRP pumping in 2023.
#3. Bitcoin
Like its biggest competitor, Ethereum, the king of cryptocurrencies, has unsurprisingly made it to our list of the top cryptocurrencies for 2023. The reasons are quite straightforward. Bitcoin remains the digital payment standard globally. It is the gold of cryptocurrency and the token investors will likely choose when hedging against inflation.
Bitcoin’s market price largely determines the fortunes of the cryptocurrency market. If there’s any extended bullish run, Bitcoin is near-certain to be involved. For its sheer status and consistency, Bitcoin is one of the top cryptos to buy and hold for 2023.
#4. Tamadoge (TAMA)
Tamadoge is a relatively new token. Launched in mid-2022, the project’s developers have outlined an audacious roadmap that’s well on its way to actualization after an impressive presale performance. TAMA is an NFT-based cryptocurrency. It leverages a Play-to-Earn ecosystem that rewards users for interacting with their Doges, providing several incentives along the way.
TAMA is a deflationary token, as its market supply is fixed. As such, investors can expect price stability in the future. Also, there is a planned Metaverse, with the project’s developers collaborating with other companies to expand its ecosystem. With its unique innovation, TAMA is primed to be one of the top-performing tokens of 2023.
#5. Cardano (ADA)
Cardano is a proof-of-stake blockchain and one of the top-rated cryptocurrencies in the world. Investors can trade ADA on any mainstream exchange platform and use it to stake and pay transaction fees on the ecosystem.
In the future, ADA will be more than just a means of digital payment. There are plans to upgrade its utility by making it a governance token to give holders access to vote on upgrades and changes to the Cardano ecosystem.
Conclusion
Cryptocurrency investing is tricky, as there’s no clear-cut way to know which token will perform and which won’t. To be a successful investor, you must educate yourself on the subject as much as possible, pay attention to market price movements, and diversify your portfolio.
