With the growing adoption of crypto-currencies around the world, many new investors are wondering which crypto-currencies could see significant growth in the near future. This article offers five major cryptomonies that could explode during 2023.
Mis à jour le 11/26/2023 à 20:22
Blockchain technology has become one of the best ways for businesses, governments and individuals to conduct secure transactions.
The blockchain has paved the way for a new form of digital currency: cryptocurrencies.
Cryptocurrencies are a great way to store and transfer funds. After a year of “Bear Market” due mainly to a tricky macroeconomic situation, many crypto-currencies are now at very attractive prices.
This post aims to describe the top five promising cryptocurrencies that could see explosive growth in the coming years.
This post is not intended as investment advice. If you choose to buy assets, only invest what you are willing to lose.
Cosmos is an ecosystem of interconnected independent blockchains and decentralized applications aimed at building a decentralized future, the Internet of blockchains. The main blockchain being Cosmos Hub.
Cosmos SDK is a development kit that facilitates the creation of secure blockchains while the ATOM token is the native cryptocurrency of the Cosmos Hub blockchain.
The September 2022 update to Cosmos 2.0 brought new enhancements to the Cosmos ecosystem for easier and more efficient use.
Buying ATOM can be interesting for those who want to support this ambitious project and the benefits it brings to the Internet of blockchains.
The ATOM token is the native cryptocurrency of the Cosmos Hub blockchain and plays a crucial role in the Cosmos ecosystem.
It allows you to participate in the validation of transactions on the network, to vote for governance decisions and to reward validators who maintain the security of the network.
In addition, users can use ATOM to make fund transfers and payments between different blockchains connected to Cosmos.
ATOM currently trades at a value of $15 per token. Assuming that ATOM’s price reaches its ATH (All Time High), this would mean a growth of about 220%.
If we believe in the strength of the project, we are currently in a good area to invest in DCA (Dollar Cost Average).
The price points to watch for on ATOM are as follows :
| Downward (in dollars) | Upward (in dollars) |
|---|---|
| 7- 8 | 14.4 |
| 6.24 | 18.5 |
| | 29.2 |
| | 80 |
Fetch.ai is an open source platform that allows developers to use artificial intelligence and blockchain to create decentralized applications.
The idea behind the project is to create an autonomous environment that can connect people, organizations, devices and services via a single network supported by AI and machine learning.
With this innovative combination of different technologies, Fetch.ai offers tools and solutions for various use cases and to improve different industries.
The topic of Artificial Intelligences has largely been put back on the agenda with the release of GPT-3 technologies, notably ChatGPT from Open.AI.
Fetch.ai’s inherent value is derived from its native multi-use token, FET. The promising FET cryptocurrency acts as the primary means of payment on the network and is used to activate and reward tokens in staking, and thus validate all transactions on the network.
There are currently 1,043,462,805 FETs outstanding, with a limited supply making it a rare asset.
Investors may be interested in purchasing FET now because of its unique use in various sectors, its innovative technology and its use as a means of payment on the network.
After experiencing strong demand in recent weeks, FET is currently trading at $0.45. Assuming the price reaches its ATH, this would represent a 185% increase from that level.
While it is often not advisable to buy an asset that has just experienced a sharp rise, it is generally recommended to take advantage of downward price corrections to buy.
One strategy to better manage risk remains the Dollar Cost Average (DCA).
The price tiers to watch on FET are as follows :
| Downward (in dollars) | Upward (in dollars) |
|---|---|
| 0.377 | 0.488 |
| 0.277 | 0.785 |
| 0.15 | 0.832 |
| | 1.65 |
Chainlink is an oracle based on the Ethereum blockchain. It aims to solve one of the biggest problems preventing the mass adoption of decentralized applications (DApps): their inability to interact with data outside the blockchain.
Chainlink has developed a platform of blockchain oracles that act as bridges to connect on-chain and off-chain data.
It connects decentralized applications (DApps) to real-world data using its decentralized network of oracles. Oracles allow data to be uploaded to the blockchain, enabling smart contracts to interact with the outside world.
LINK tokens are used to pay node operators for their services when delivering data from external sources. It is used to reward users for staking their LINK tokens.
Chainlink (LINK) is showing considerable interest as the most promising cryptocurrencies.
Not only does it have the ideal combination of a project with the right technology behind it, but it also has enough resources for future development. It also has an excellent community.
To date, the project has received numerous awards and has been recognized by the World Economic Forum as a technology pioneer in 2020.
LINK is currently trading at just under $7. A return to its ATH from this level would result in an increase of about 730%.
An investor who believes in the strength of the oracles and the usefulness of LINK would see this as a good opportunity to start investing for the long term.
The price points to watch for on LINK are as follows :
| Downward (in dollars) | Upward (in dollars) |
|---|---|
| 6.18 | 11.4 |
| 5 – 5.5 | 15 |
| 3.2 | 20.3 |
| | 32 |
| | 71 |
Polygon is a blockchain network that allows developers to easily create highly scalable decentralized applications on Ethereum.
It belongs to the category called Layer 2.
Polygon improves the performance of decentralized exchanges, while ensuring the security of transactions. This makes it a more attractive solution for groups looking to build in the web3.
There are currently over 20,000 decentralized applications that use Polygon to implement their services.
Recently, some large companies have been seduced by Polygon to take a first step in the ecosystem, such as Adobe or Disney, which potentially announces movement for 2023.
Polygon’s native token, MATIC, is used to pay fees related to the use of the Polygon network and can be exchanged on different markets.
MATIC has recently experienced high demand as it is considered one of the most promising protocols on Ethereum.
The promising cryptocurrency MATIC is currently trading at $1.2. A rise to its ATH would be about 150% from the current price.
The price levels to watch for on MATIC are as follows :
| Downward (in dollars) | Upward (in dollars) |
|---|---|
| 1.15 | 1.5 |
| 0.65 | 1.86 |
| 0.33 | 2.98 |
| | 5.17 |
BNB (Binance Coin) is a token initially created on the Ethereum blockchain and became the native token of the Binance chain.
It was launched in 2017 through an initial coin offering (ICO) as a way for exchange users to pay lower trading fees.
Binance recently collaborated with VISA for its crypto Binance card, which works like a debit card.
The place in the ecosystem that Binance and its CEO Changpeng Zhao (CZ) hold is undeniably important, and so are the benefits associated with NBB.
BNB plays a key role in the Binance ecosystem by powering operations and can be used for listing, exchange and trading fees, as well as any other costs associated with using the Binance exchange.
In addition to its use in the Binance ecosystem, BNB can be used for many real-world benefits, such as travel, credit card payments, investments, asset purchases and NFT purchases.
By recently proving its solidity in the face of attacks and FUD Binance, the exchange seems to confirm its position as a leader among centralized exchanges.
A useful token + a solid company = growth to be expected !
The Binance cryptocurrency is currently trading around $330. A return to its ATH would result in an increase of about 120% from current prices.
A wise investor would manage his risk by fragmenting his purchases over time in order to smooth out his average entry price.
| Downward (in dollars) | Upward (in dollars) |
|---|---|
| 286 | 355 – 365 |
| 240 | 438 |
| 150 | 750 |
| 95 | 870 |
| | 1290 |
So much for these top five promising cryptocurrencies that could see explosive growth during 2023 : ATOM (Cosmos), FET (Fetch.ai), LINK (Chainlink), MATIC (Polygon) and BNB (Binance).
Let’s keep in mind, however, that the macroeconomy remains tense in the face of the FED’s (U.S. Federal Reserve) rate hike, and the fight against inflation.
These factors affect both traditional and cryptocurrency markets. So manage your risk, and only invest what you are willing to lose !
⚠️ This article is published for informational purposes and should not be considered as investment advice. Crypto-currency trading involves risk and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and shall not be held liable, directly or indirectly, for any damage or loss caused as a result of using any goods or services highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
Passionate about trading and cryptocurrencies, I discovered Bitcoin and Blockchain technology in 2017. Since then, I've been on a mission to make the world of investing and the Web3 accessible to as many people as possible.
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