The general cryptocurrency market has been in a bearish position for many months now. Many big cryptocurrencies like Bitcoin and Ethereum have lost about 50% of their original value and investors are left in shock and a sense of indecisiveness on the next step to take.
Due to the heat of this bear market, some cryptocurrencies have crashed to zero value, the Terra Luna crash of May 2022 is a good example of such an ugly incident which dashed the hope of Terra Luna investors. While Bitcoin which traded below $19k some weeks ago now trades above $21k, there’s an indication that all hope is not lost.
Even though some cryptocurrencies are hanging on the balance and may not withstand the heat of the bear market, the crypto market is gradually exhibiting some signs of recovery. Hence, some cryptocurrencies with great potential will make a bullish reversal soon.
This article will give a list of the top 10 cryptocurrencies that will hit new highs in 2023 and beyond.
Top 10 Cryptocurrencies That Will Hit New Highs In 2023
There’s no doubt that Ethereum is the biggest crypto after Bitcoin. Ethereum is also the most valuable and expensive altcoin in the crypto market. After it was launched in 2013, it has grown to become a great cryptocurrency to reckon with in the market because of its unique technology.
The Ethereum blockchain allows developers to create their cryptocurrency on the network and as such, many cryptocurrencies and NFTs were created on the Ethereum network.
It’s one of the top cryptocurrencies that will hit new highs by month’s end.
UniSwap is an example of an automated market maker (AMM) which was launched in November 2018. It is commonly known as a decentralized trading protocol which promotes an automatic strategy of trading decentralized finance (DeFi) tokens.
This network aims to facilitate automated and transparent token trading for everyone who holds tokens as it makes decentralized trading more efficient.
UniSwap is one of the cryptocurrencies that will likely hit new highs in 2023 and beyond.
It is alleged that Dogecoin which many believe to be the first meme coin, was inspired by a joke. Dogecoin was launched in 2013, and though many believe that as a memecoin, it has zero impact in the crypto world, it showed great potential in 2020 when some sports teams acknowledged it as a payment model.
Additionally, world elites like Elon Musk and Mark Cuban are staunch advocates of Dogecoin, their tweets can push up the price of Dogecoin.
Investing in Dogecoin will likely give you a huge profit when it hits a new high by 2023.
4. Binance Coin(BNB):
Binance coin (BNB) is one of the fastest-growing cryptocurrencies in the market. It’s good to know that this coin was launched by Binance, the largest crypto exchange in the world. This singular step of integrating a native coin into the platform has expanded the scope of Binance from a crypto exchange platform to one where you can trade crypto, process payments and book travel arrangements.
Binance coin is a good cryptocurrency with great potential of hitting new highs at the end of the year.
Polkadot is another great cryptocurrency in the global crypto market with great potential. Polkadot is a Web 3 project which many people are oblivious about. It is best for building more decentralized Web3 platforms due to its high scalability, even high than Ethereum.
This has placed Polkadot above Ethereum in terms of low transaction fees and speed. Given its market value and position, it is undoubtedly in charge of the decentralised internet sector (Web 3).
Solana (SOL) is another cryptocurrency with unexplainable potential. The Solana platform rivals Ethereum in the areas of low transaction costs and speed. It is safe to say that the Solana platform is better than Ethereum in these two critical aspects.
The fact that the Ethereum network processes an average of thirteen transactions per sec slows transactions and in turn, creates the problem of higher gas fees.
Solana network processes an average of 65,000 transactions per second which makes it faster and has little transaction fees. These unique features of Solana have attracted many investors to the platform and as such, SOL will likely hit new highs in 2023 and beyond.
7. Shiba Inu(SHIB):
Shiba Inu is yet another cryptocurrency we can’t afford to exclude from this list. In the past months, the price of this memecoin has surpassed that of its age-long rival, Dogecoin by more than 800% which had left many asking “Is Shiba Inu a Dogecoin killer?”.
However, analysts are yet to be certain of the SHIB’s price movement since it was launched in 2020 but it has outperformed many coins in the market that launched before it. Shiba Inu will likely hit a new high in 2023 and beyond.
Cardano still retains its position in the list of the best cryptocurrencies in existence due to its network flexibility and transaction speed.
The Cardano network is utilized for real-world services like retail plagiarism and farm supply chain.
The network claims the native currency, ADA is more environmentally friendly than any other cryptocurrency.
However, the platform is imbued with high sustainability, scalability and interoperability. Given all these unique features of the platform and also the recent upgrade which enabled the building of smart contracts, Cardano will likely hit new highs in 2023 and beyond.
Polygon is a popular and great platform for the layer-2 scaling solution for the Ethereum blockchain. We included Polygon on this list even though it is massively underutilized because it’s one of the cryptocurrencies with great potential.
Also, numerous off and on-chain brands are interested in building on the platform.
Filecoin is a Web 3 decentralised storage network which acts like the Web 3 filing cabinet. It can be used as a secure substitute for centralised cloud storage and a source of passive income.
There is no limit to the kind of data one can store on Filecoin, from videos, texts, documents, images and audio files and many others. The platform boasts high security that can store very sensitive information like confidential information and records of a company.
Filecoin with the waves it’s making will probably hit new highs in 2023.
The crypto market is gradually taking a new look from the mess it was for the past month and more. Crypto investors are already speculating on which coin will perform well after this bear market. The above-listed cryptocurrencies will give you an insight into the cryptocurrency you should watch out for and invest in massively to make huge wealth when it hits new highs by 2023.
Disclaimer: Note that the information contained in this article is purely the author’s opinion and should not be considered as an investment or financial advice.
It is advised that you make your research before taking any decision.