The cryptocurrency ecosystem has had a challenging 2022, with a significant proportion of the year spent in a market free fall. However, the relatively low volatility of the cryptocurrency market has traders, investors, and other crypto enthusiasts questioning if the cryptocurrency bear market is over.
Unfortunately, most cryptocurrencies have been trading below their all-time high (ATH), and other projects have fallen below a large percentage of their peak price. However, the crypto bear season will not continue forever, and there will be some corrections and rebounds, as there have been in previous years.
While the crypto landscape is hoping for a market correction and recovery, some cryptocurrencies are anticipated to be the top cryptocurrencies to invest in for a high return in 2023. So, while you prepare for the next bull run, these are the top ten cryptocurrencies to include in your portfolio.
Before sharing the top picks of cryptocurrency to invest in 2023, the selection is based on the following factors;
Market cap - The list includes tokens with market capitalizations ranging from mid-cap to large-cap. Large-cap tokens are risk-free but grow at a low rate, while mid-cap tokens have the potential to grow rapidly but are less dangerous to invest in.
Diversification - Spreading the list throughout many sectors of the crypto economy, such as DeFi, GamFi, Metaverse, Exchange tokens, and so forth. This is done to ensure that your investments are diversified across the cryptocurrency ecosystem.
Project use case - The project use case is considered, as the token's value is determined by its compatibility with the emerging dApps and web3 ecosystem.
Community engagement - A solid community and team behind a crypto project play an essential part in deciding the project's success. As a result, the list is examined based on their community's engagement.
So, with that said, let's look at the top 10 cryptocurrencies to invest in, in 2023.
Top 10 Cryptocurrencies To Invest
Bitcoin (BTC) - The Mother Of All Cryptocurrencies
There's no surprise bitcoin is on the list, given it is the first and mother of every other cryptocurrency. Bitcoin has shown to be a must-have asset in recent years, with an exponential gain even during a downtrend. Bitcoin is a low-risk crypto to invest in and retain long-term since it can go above its all-time high. Bitcoin sets the tone for other cryptocurrencies because its price movement determines the pricing of others.
With a market cap of over $322 billion, Bitcoin is the most dominant cryptocurrency, accounting for 44% of the overall crypto market cap. As a result, Bitcoin is the ideal financial asset for protecting against inflation.
As a result, Bitcoin will be a must-have asset in your portfolio in 2023.
Ethereum (ETH) - Crypto With Massive Potential Growth For DeFi
Ethereum is the second largest cryptocurrency, and its blockchain is where most DeFi and web3 development occurs. Following the Ethereum 2.0 merge, lots of development has happened, and more are expected within the ecosystem. And with higher transaction speed, more breakthroughs and technologies are projected on the ethereum ecosystem, making it demand to expand.
Ethereum is a low-risk cryptocurrency with the potential for substantial price gains when the market recovers. With a market value of 18.5% of the global crypto market cap, Ether (ETH), the native token of the Ethereum network, is the second-largest cryptocurrency in the cryptoverse.
Thus, a list of top cryptocurrencies to invest in will be incomplete without Ethereum, as its influence in the crypto market cannot be understated.
ApeCoin (APE) - Most Preferred Token To Invest In 2023
Apecoin was launched in the middle of the market meltdown and set an all-time high price within a short period before swinging in the downward direction of the market. ApeCoin is a utility and governance token built on the ethereum blockchain and associated with the wildly popular Bored Ape Yacht Club NFT collections. ApeCoin is garnering tremendous attention as the Bored Ape Yacht Club launched Otherside Metaverse, and ApeCoin is used as the transaction token to run the DAO.
The future growth and market recovery of ApeCoin are based on its massive network of followers, which includes many celebrities and prominent crypto influencers, and the aggressive development level occurring in the ApeCoin ecosystem. In addition, holders can also access numerous ecosystem elements such as events, games, services, and products.
Therefore, with its incredible benefits, ApeCoin is expected to skyrocket in 2023, making it a good crypto asset.
Binance Coin (BNB) - The Fastest Growing Exchange Token
Binance coin is the market's most valuable exchange token and one of the most stable and fastest-growing cryptocurrencies. It is the utility token on the Binance exchange, growing in value as the exchange expands its market with new features.
Binance coin is one of the tokens projected to have an exponential price increase when the market recovers because it is one of the most traded exchange tokens with a large user base on its platform.
With a spectrum of uses for the exchange token, Binance Coin appears poised for a surge in 2023, making it a top crypto asset to invest in.
Solana (SOL) - The Crypto With Fast Transaction Speed
Solana, like Ethereum, is a blockchain project. Unlike Ethereum, Solana offers a fast and scalable blockchain that handles 60,000 transactions per second. Solana uses smart contracts to give DeFi solutions and to create dApps for users.
Solana is a fantastic crypto asset because it has its blockchain, allows for low-cost transaction processing, and is a growing ecosystem for NFT production and other web3 activities. As a result, it is projected that Solana will continue to be the main ethereum replacement, as it fits the requirements for exploring cutting-edge technology.
Additionally, various advances within the Solana ecosystem are expected to accelerate the coin's recovery. Without a doubt, it is a project to keep an eye on and invest in by 2023.
Shiba Inu (SHIB) The Popular Meme Coin To Trade
Shiba Inu is a popular "meme coin" in the cryptocurrency market, similar to Dogecoin, which is based on the dog breed. Shiba Inu became popular due to a significant price increase in early 2021. As a result, this contributed to developing a strong community surrounding the coin, which has been crucial in ensuring the coin's dominance and triggering artificial price increases.
However, the coin has begun to serve as a utility coin as more businesses accept it as payment, providing it with greater sustainability. Furthermore, the token developers have developed a token launchpad and the Shibaswap DEX, positioning it as one of the top cryptocurrencies to invest in and have in your portfolio in 2023.
Decentranland (MANA) - The Prime Meteverse Token
Decentraland is a virtual real estate platform where players may purchase, sell, and exchange virtual pieces of land. It is an Ethereum-based blockchain with a Metaverse ecosystem with plenty of utility features. LAND tokens represent chunks of property on digital real estate. MANA is the ecosystem's native coin and the foundation for Decentraland transactions and payments.
One crucial reason to invest in MANA is that all major corporations, celebrities, and crypto influencers are rushing to buy pieces of virtual land there. As a result, Decentraland increases the amount of play-to-earn games on its platform, making it a strong token for long-term investments.
Polygon (MATIC) - The Layer-2 Scaling Token
Polygon is a layer-2 scaling solution that uses optimistic roll-up technology to enable cheaper and faster transactions on the Ethereum network. MATIC is the polygon network's native token, and it is utilized to settle transactions between multiple parties and to control on-chain transactions.
Polygon has been used by individuals and developers seeking to build quick, scalable, and efficient systems on the Ethereum network, making it essential in researching web3 technologies.
Polygon market value is projected to increase as more projects seek to develop faster and more scalable systems on the Ethereum network, making it a must-have token.
Dogecoin (DOGE)
Dogecoin is the first and most renowned meme coin, which began as a joke but garnered widespread attention thanks to the backing of its most passionate supporter, Elon Musk, who regularly promotes and influences the coin, considerably contributing to the coin's community growth.
Since Tesla adopted the coin, Dogecoin has been accepted as a payment token by many merchants and used as a token for tipping content creators due to its cheap and fast transaction process. Furthermore, the community is adamant about getting the coin to $1, and whether or not this is possible is another motivation to invest in the coin.
Tether (USDT) - The First Stablecoin
Tether is a stablecoin tied to the US dollar in a 1:1 ratio. The price stability of USDT makes it a vital cryptocurrency to hold to hedge against the volatility of the crypto market. Although USDT is not a cryptocurrency for capital gain, it is a risk-free cryptocurrency that puts you in an excellent position to profit from the market's fall.
Get Your Cryptocurrencies On Cwallet
Cwallet lets you quickly deposit, withdraw, and swap any cryptocurrency for the lowest possible charge. You can exchange tokens amongst the 800+ cryptocurrencies available on Cwallet. Whether doing a cross-chain swap or an "on-chain swap," Cwallet provides the lowest transaction fees. In addition, you can exchange different currencies within your wallet for free!
Cwallet's price charts are updated in real-time, so you can get live updates on the top cryptocurrencies to invest in with Cwallet.
Due to different market conditions, the crypto space has experienced a long year of downtrends, especially with the FTX decline, which has raised so many questions about the transparency and legitimacy of cryptocurrency. However, with more use cases and cryptocurrency adoption worldwide, it is evident that decentralized technology is here to stay. Therefore, it is essential you know the top cryptocurrency to give a massive gain in the next bull run.
On the other hand, it's important to note that this is not financial advice, and the list is for educational purposes only. Thus, you should do your own research before committing to a project, as investing in cryptocurrency is risky.
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