—TechRound does not recommend or endorse any financial or cryptocurrency investments. All article content is purely informational—
If you’re looking to discover the most promising cryptocurrencies for 2023, their unique features, and market performance, read on for our comprehensive guide with the top 10 coins this year.
Bitcoin (BTC)
The original digital asset ever developed remains the most significant cryptocurrency as of July 2023, continuing its reign over all others since its birth. Bitcoin boasts a market capitalization exceeding $595 billion, while its price currently rests around $30,694.22 per coin, a testament to its uncontested dominance on the cryptocurrency market.
Bitcoin’s significance lies in its widespread acceptance as a form of payment, including by major corporations like Visa. Stripe’s partnership with OpenNode makes Bitcoin transactions available to merchants; even established financial institutions now support Bitcoin transactions for their customers.
Due to its longstanding, widespread acceptance, and substantial market capitalization, Bitcoin remains one of the best cryptocurrencies to invest in for 2023 investors. But prospective buyers must be mindful of environmental considerations related to mining Bitcoin.
Binance Coin (BNB)
As of July 2023, Binance Coin, which is the native cryptocurrency of the Binance exchange platform, has a market capitalization of $38.72 billion and a price point of $248.30. BNB holds value within the Binance ecosystem through reduced trading fees on Binance Exchange as well as being eligible to participate in token sales events held via Binance Launchpad.
Binance Coin’s value is closely connected to that of the Binance cryptocurrency exchange, which has quickly expanded into one of the largest and most acclaimed global digital currency markets. As Binance broadens its services and serves more users, BNB may become even more desirable as one of the top cryptocurrencies to invest in for 2023.
Cardano (ADA)
Cardano is a smart contract platform built upon blockchain that boasts a market cap of $10.27 billion as of July 2023; its price during that month was $0.2938. Cardano’s blockchain operates in layers to protect smart contracts by isolating account values from the logic behind their transfer between accounts; this ensures security by keeping accounts separate.
Cardano is the pioneering blockchain platform to emerge with a scientific philosophy and an engineer- and researcher-centric development philosophy in mind, marking it out as a pioneer in its industry. Cardano could prove one of the top investments come 2023 due to its global team of experienced engineers and researchers.
Polygon (MATIC)
Polygon is an Ethereum-compatible blockchain network construction protocol and framework known formerly as Matic Network that was launched as one of the best investments of 2023. It had a market capitalization of $6.49 billion as of July 2023 with an associated price point of $0.696.
Polygon is an innovative multi-chain system that seamlessly merges the advantages of Ethereum with those found in other sovereign blockchains, like Polkadot, Cosmos, or Avalanche, with the extra protection offered by Ether’s openness, robust ecosystem, and security measures.
Ethereum (ETH)
Another great choice for investing is Ethereum, with an impressive market capitalization of $236.78 billion and a price per coin of $1,969.36 as of July 2023. Ethereum stands out due to its unique capabilities; unlike Bitcoin, it provides developers with the tools for building decentralized applications (dApps) as well as smart contracts using blockchain technology. This unique functionality of Ethereum makes it stand out from competing digital currency solutions like Bitcoin.
Ether, the native token of Ethereum, powers applications on this network; therefore, it forms an essential element of its ecosystem. Development for Ethereum 2.0 has recently started, and experts anticipate that the efficiency and scalability of this platform will increase as a result, leading to potential increases in the value of the Ether token.
Terra (LUNA)
Terra is a blockchain protocol designed to power price-stable global payment systems using stablecoins tied to fiat currency. According to its white paper mission statement, Terra aims to develop fiat-pegged stablecoins suitable for daily use while remaining fiat-pegged. To do this, it has developed an algorithmic stablecoin ecosystem capable of responding dynamically to changes in supply and demand of its native token, designated with an alphanumeric code like “LUNA.”
Terra’s Luna token currently trades at $0.6564 with an approximate market cap of $201.98 million as of July 2023. In terms of volatility, it began the year at $8.99 before surging to a high of $10.6977 by June before eventually settling at $9.05. Even so, its unique approach to stablecoins makes Terra an appealing cryptocurrency investment option in 2023, despite these fluctuations in pricing.
Avalanche (AVAX)
Avalanche is an Avax token-based blockchain platform, featuring high performance, scalability, and customizability, as well as safety for users. As of July 2023, the cost per token for the AVAX token was $13.21, with an approximate market capitalization of $4.56 billion.
Avalanche stands out among other cryptocurrencies with its proprietary consensus protocol, which boasts both high transaction throughput and low latency rates. Furthermore, Avalanche supports interoperability as well as offering support for custom blockchain networks; with such features at hand, it looks set to become one of the premier crypto investments for 2023 investors.
Chainlink (LINK)
The Chainlink network provides smart contracts built on Ethereum with safe access to external data sources, APIs, and payment systems through decentralized oracles such as Chainlink’s decentralized oracle. As of July 2023, their issued token LINK commanded an impressive market cap value of $3.57 billion, with its price at $6.63.
Chainlink stands out as an integral link between on-chain and off-chain systems, providing decentralized applications with more sophisticated and useful features by offering reliable input and output pairs on any blockchain for complex smart contracts with tamper-resistant output. As such, Chainlink stands to become one of the top investments for 2023 investors.
Polkadot Network
Polkadot, an interlinked multichain platform that enables different blockchains to interact, has seen tremendous interest recently. Due to its ability to process transactions on various chains simultaneously (using parachains), it offers greater scalability over other cryptocurrencies, and Polkadot DOT token value has seen rapid appreciation, reaching its all-time high of $6.98 in April 2023.
Ripple (XRP)
Ripple’s digital currency, XRP, has long been an integral component of the money transfer and international payments industries. With an efficient payment protocol that facilitates quick, low-cost international money transfers, Ripple has gained widespread adoption within financial institutions worldwide. Though subject to legal challenges from rival firms, the price has remained fairly consistent, reaching as much as $0.56 by March 2023.
—TechRound does not recommend or endorse any financial or cryptocurrency investments. All article content is purely informational—
