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7 cryptocurrencies to follow in 2023

By BS MediaTwitter Profile | Updated: Friday, 13 January 2023 18:48 UTC
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Bitcoin blockchain digital coin crypto currency concept background.
Bitcoin blockchain digital coin crypto currency concept background. Freepik / @starline

Even when the cryptocurrency market is extremely volatile, people are eager to participate in the decentralized financial ecosystem. Major Cryptocurrencies, as opposed to regular dollars, rupees, pounds, or yen, inject a greater element of speculation into the financial market. The stock market and national currencies have been largely under threat since bitcoin's debut in 2009.

Other factors, such as established regulations and institutional adoption, are expected to push crypto prices to new heights in the years ahead. However, the major cryptocurrencies, including bitcoin, are currently experiencing a severe storm. Fortunately, this is not deterring many investors from pursuing their projects. Many of them are still betting on some of the most promising cryptocurrencies in order to make their investment grow. In this article, we will introduce you to the best cryptos that will make a comeback in 2023.

Bitcoin (BTC)

Bitcoin is one of the most well-known digital currencies. In 2009, it was the first successful blockchain-based currency to hit the market. Cryptocurrency investors have been looking for the next Bitcoin or the best cryptocurrency to invest in. Despite the fact that many altcoins have recently emerged, the dominance of BTC remains. In addition, many crypto investors prefer Bitcoin to other cryptocurrencies as it is less volatile thanks to its higher market cap.

Ethereum (ETH)

Ethereum was the first major project to use smart contracts on the ERC-20 network. On top of the blockchain, these smart contracts allow developers to launch decentralized mobile and desktop applications. The Ethereum network supports thousands of tokens, and it was these tokens that fueled the initial coin offerings (ICO) movement. It hosts most of the DEFI ecosystems and is one of the most promising cryptocurrencies, ready to make a dramatic comeback.

Dogecoin (DOGE)

Dogecoin's main application is now tipping people online who share useful information or are just plain hilarious. Doge has been in the news recently for a variety of reasons, including the Reddit fiasco and Elon Musk becoming a "Dogefather". This popularity is expected to continue, gradually but surely increasing the price.

Shiba Inu

Shiba Inu is a cryptocurrency created by an anonymous developer, calling himself Ryoshi. This token is supposed to be a "Doge Killer", literally a Doge Killer. The purpose of this currency is then to be a direct competition with Dogecoin, the first token associated with a dog, which later started a trend in the crypto market.

ShibaInu is a coin that is based on a community principle. Indeed, when Ryoshi created the Shiba Inu, his goal was not to create a currency with the aim that it would gain significant value. It would not even be intended to break the $0.01 barrier. Instead, the goal of this token is to achieve a total capitalization far greater than that of Dogecoin. All the tokens were created at the time of the coin's creation. It is therefore impossible to mint more tokens.

The Shiba Inu crypto has quickly become something with a growing community of dedicated followers. Despite its fancy beginnings, SHIB has emerged as one of the best cryptocurrencies on the market with significant selling points. The community also created an NFT project on SHIB in 2021, which helped it to attract more attention from investors.

You can trade SHIB USDT on major crypto exchanges like KuCoin.

Ripple (XRP)

XRP is an open-source cryptocurrency that uses the XRP ledger, an open-source distributed ledger. It is the native currency of Ripple, a company that uses the blockchain to facilitate global transactions. According to its creators, XRP was designed for payments and can settle transactions faster and more securely than most other cryptocurrencies.

Ripple's mission is to unleash global digital scalability and reduce the transaction costs of cross-border money transfers. As part of its mission, RippleNet has launched XRP, its digital currency, into the crypto sphere. Experts believe that XRP and the strategy it employs will reach new heights in the future. However, the XRP token is the subject of a legal battle with the SEC.

Chainlink (LINK)

Chainlink is a decentralized oracle system. Since the creation of Ethereum and the growing use of decentralized applications in 2017, smart contracts are slowly proving their usefulness. The consequences are diverse, affecting finance, insurance, governance methods, etc. A new type of application is emerging, hosted on public blockchain networks, mostly on Ethereum.

These are applications that are open to all, auditable, censorship-resistant, running flawlessly 24 hours a day, and can hold and transfer value in the form of cryptocurrencies or digital assets (tokens).

Chainlink is one of the first blockchains to allow off-chain data to be integrated into smart contracts with an Oracle network. This allows blockchains to securely connect to external data and transactions. Experts predict a rising trend for this cryptocurrency due to its applications, as Chainlink's technology is essential to the advancement of smart contracts.

Polkadot (DOT)

Polkadot is a next-generation protocol that unites a network of multiple interconnected blockchains. The Polkadot network facilitates scalability by allowing these specialized blockchains to communicate with each other in a secure and transparent environment.

The Polkadot protocol is designed to connect and secure unique blockchains, whether they are public networks, private consortia chains, oracles, or other Web 3.0 technologies. It enables the creation of an Internet where independent blockchains can exchange information under common security guarantees.

Thus, Polkadot's network allows arbitrary data - not just tokens - to be transferred across blockchains. With Polkadot's technology, it is possible to create applications that obtain data from a private blockchain and use it on a public blockchain.

Polkadot is another blockchain network that develops interoperability protocols. It connects multiple chains within a single network and enables parallel transactions within that network. Its main token, DOT, is used for governance, para-chain connectivity, and governance.

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