Cryptocurrency markets are highly cyclical, and if history is anything to go by, 2023 should be a very big year for crypto. Bitcoin has had a wild year but clearly shows signs of support right now, and everything seems to point to it bouncing back. And whatever happens to bitcoin will happen to the rest of the market. There are some coins, however, that should have an even better year in terms of growth because of different factors. Let’s take a look at some of the cryptocurrencies every investor should have on their radar this coming year.
Ethereum should see a big increase in value next year not only because of its historical price action but also because of its highly anticipated Shanghai update. This update will allow people to stake assets in a non-custodial way and withdraw them much more easily. This alone should bring more investors in as having assets locked in was a big issue for many people before this. This is why you should check out the prices of Ethereum on sites like okx.com and pay special attention to it around the time the update is getting ready to be rolled out as it could skyrocket fast. It could also rise at a much faster rate than other coins in its category.
If you want to invest in something interesting that has the potential of blowing up over the next few years, you need to look at ApeCoin. ApeCoin is a governance coin for the Ape DAO, which is known for many hyped-up NFT projects like the Bored Ape Yacht club among others. One of the reasons why this coin should be on your list is because of its current low price and historical price action. And the fact that it’s connected to NFTs certainly doesn’t hurt.
Another thing that could benefit ApeCoin this coming year is its involvement with the metaverse and gaming. There have been rumors of a Bored Ape metaverse and integration in different play-to-earn games developed by Animoca, which is a subsidiary of Ubisoft. If these projects are successful, then we can expect the price of ApeCoin to go way up.
Cardano has been touted as an Ethereum killer for a while, though it’s not quite here yet and may never supplant it. But what it can be and probably will be is a good alternative to the platform.
Like Ethereum, Cardano was made to execute smart contracts over its large and well-respected blockchain. Its association with Ethereum will help it gain more recognition, and we can expect it to closely mirror Ethereum’s price action next year. But it could grow at an even greater rate as they start introducing new token creation capabilities.
All of these cryptocurrencies should be on your watch list in 2023 if you want to make profits. Some may be surer bets than others, however, so try to get as much background information on these projects as possible and keep your finger on the pulse of the community at all times.
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