In this article, we will know about the Top 5 Cryptocurrency Investments For 2023. So since the start of this year, Bitcoin has slowly been rallying and even hit its new yearly.
All-time high ringing up many of the other coins in the space it’s also worth noting that historically Bitcoin has had some of the most significant movement happen for the month of February.
To give you an idea of this back in 2011 this is when bitcoin’s price first rose from 30 cents to over a dollar representing an increase of over 230 percent fast forward.
A few years later in February 2014 the mount gox exchange one of the largest Bitcoin exchanges at the time filed for bankruptcy causing bitcoin’s price to actually drop by more than 60 in a matter of days.
Now in February 2017, bitcoin’s price had actually reached a new all-time high of over 1200 driven by increasing demand and interest from institutional investors and Traders its times like this.
Where you should have a Keen Eye Open on what’s going on within the market and know what cryptos you would invest in just in case we get a pump or we get a discount fire sale so this is going to be the top 5 cryptos worth investing into today.
Top 5 Cryptocurrency Investments For 2023 – Which is the best crypto to Invest in 2023?
If you are looking to get started back into crypto so the first cryptocurrency here on my list is going to be Cardano.
1: Cardano Cryptocurrency:
Cardano cryptocurrency is a proof-of-stake blockchain platform with the goal of allowing innovators and Visionaries to bring about positive Global change with a market cap exceeding 13 billion dollars.
Do you know that Cardano is currently ranked as the eighth largest cryptocurrency in the entire world as stated on their website.
The idea behind Cardano is to redistribute power from unaccountable structures to the margins to individuals and be an enabling force for positive change in progress.
Pros and the Advantages of Cardano:
This crypto token has demonstrated its practical application across a diverse range of Industries including agricultural retail education government and even Finance.
In an industry where normally critics are always saying that crypto has no real-world utility, it’s all a sham Cardano is actually proving them quite wrong.
So here are two quick examples of why that is right,
Now there are multiple agricultural companies that use the Cardano blockchain for product certification and traceability from Farm to Table.
This is all about utilizing blockchain technology having The Ledger and getting verifiable results.
Italia prism is also an ID and credential solution built on the Cardano blockchain that secures academic certification with a fixed and tamper-proof ecosystem.
We have also seen this crypto here become much more energy efficient. This is also a concern that the broader world nowadays has been highlighting to give you a better idea of how effective their energy usage actually is.
Bitcoin is consuming 130 terawatt hours whereas Cardano is consuming 6 gigawatts per hour.
That means Bitcoin uses about as much energy as the entire country of Argentina which has a population of about 45 million people. And Cardano would use as much energy as about 600 U.S. homes.
Cardana holding as major benefit is the fact that its supply is limited so Cardano offers a solution to inflationary pressures faced by its Fiat currencies.
It’s hard to set and fixed limit of 45 billion tokens that can be infinitely produced by those in control and will never be a reliable store of value.
Because inflation can go through the roof as of today there are currently around 34 billion Cardano tokens in circulation and a few more to go. But it doesn’t look like it’s going to exceed that set number.
Cardona can also handle large numbers of transactions. So scalability has obviously been a common challenge for the largest cryptocurrencies out there anywhere from Bitcoin to even Ethereum.
Where it can process and handle a transaction but it’ll take anywhere from 15 to 30 seconds sometimes even longer.
And it will also charge you what we know as gas fees. Now if you went ahead and bought off the Cardano network can process up to 257 transactions per second.
But soon they may even be able to process upwards of 1 million transactions per second with its upcoming layer 2 scaling solution called Hydra.
This has been in the works for you now several years now but it’s finally nearing its completion and it’s actually one of the reasons why we are so bullish on this short-term.
Keep in mind though there isn’t an actual official release date yet the development team behind Cardano’s hinted that the offering could make its way into the market sometime within the year 2023.
Now aside from the upcoming Hydra development, there was also a major upgrade to the Cardano blockchain that happened just a few months back.
So here is the vessel hard fork update that went Live this past September. Which has improved Cardano’s ecosystem scalability transaction throughput capacity.
And advanced Cardano’s decentralized app development capacity by a lot given all of the upgrades and the success that we have seen from them.
The Cardano team is going to continuously strive to enhance its ecosystem and also maintain that edge within this highly competitive market.
Disadvantages of Cardano:
At the time of writing this article, Cardano is currently sitting at the price of around 40 cents a high that it reached back in September of 2021 at 3.16.
Now that means it’s currently down still over 80 percent from that previous all-time high and if it ever returns back to that price level that would be a Roi of almost 800 percent.
2: Solana Cryptocurrency:
Solana cryptocurrency is a functional open-source platform that leverages blockchain technologies’ open access to deliver a ton of D5 Solutions.
Now this here is a crypto that has proof of History consensus along with the underlying proof of state consensus.
Which actually helps it achieve optimal scalability for decentralized app creation going into some of the pros of Solana.
First, this is definitely going to be one of the fastest top 100 cryptocurrencies on the Block according to several sources online.
Their transactions are very quick Solana is kind of like the Lightning McQueen they are built for speed and the development team has also executed that feature pretty well.
Aside from Ethereum NFTs and the Hype that we are getting in this whole new world of Bitcoin.
NFTs Solano is actually the runner-up within the space currently they are number three in the world in terms of NFT sales volume.
With the current market sentiment and being in a terrible bear market happening within NFT is that a lot of the demand has gone away.
But it’s in these moments where everyone’s in fear everyone’s panicking that you may be seeing huge opportunities to buy in.
Disadvantages of Solana:
Although those are some of the advantages of Solana it’s also worth noting some of the disadvantages that we’ve had which include even the FTX collapse.
Where it resulted in Solana getting severely affected we saw the price actually during early November dropping from 33 dollars to just 12 dollars.
A few days later it even got so bad that up to 32 percent of Solana’s total value locked dropped just within a 24-hour period from when the FTX news had actually released.
The news here was the fact that SVF had a close relationship with Solana and it was actually one of the most prominent supporters of the project as you guys all know what happened with SPF and also FTX.
This was not really too much good news for the project at all it was later revealed that SVF had helped lead the project by investing 314 million dollars into the funding round.
As a result, many people speculated that a significant portion of FTX and Alameda’s wealth was also tied up within Solana. So just naturally what happened was when FTX was going out of business.
There were a lot of rumours circulating that he would dump Solana pretty much the price of that would go down even further now.
However just because SVF turned out to be a fraud it doesn’t mean that the Solana project actually was too.
Since then what’s been really interesting is just the fact that Solana’s price has rebounded extremely well and it’s been pretty low-key.
But it has been growing at backup just days before the entire FTX collapse had actually occurred.
There were still some major developments happening within the project where there was a partnership with Google and the announcements of a Solana brick-and-mortar Stone and an upcoming Solana smartphone.
The most recent development was announced just a few days ago where the Brave browser has now added support for Solana decentralized applications.
Which will allow for seamless browser-based connections to Solana programs this year is pretty big news.
Brave browser is the alternative to Chrome and Safari. To add Solana in comparison to the other cryptocurrencies that exist just shows the confidence of this cryptocurrency in their high speed and low costs.
So right now Solana is trading at around 23.38 at the time of writing this article. Still down about 92 percent from its all-time high of over 267.52.
So if you end up picking up some Solano right now and it returns back to that 260-dollar all-time high at some point that would actually be a Roi of over 1200 percent.
3: Apecoin Cryptocurrency:
Apecoin cryptocurrency is a token made to support the evolution of art, gaming, entertainment, digital and physical events, storytelling, and everything else web3 dreams up.
Apecoin is actually an erc20 governance and utility token used within the entire AP ecosystem to empower a decentralized community building at the Forefront of web 3.
As stated on the website of the ape Foundation which is just the administrative Council that carries out the decisions for the ape down members ape-coin serves several distinct and important purposes.
1: Ape-coin is the ecosystems governance token allowing all holders to protect and participate in the Ape Coin Dow and make their voices heard through voting on those proposals.
2: Apecoin is also considered a utility token where all holders can share and transact with one another without needing a centralized intermediary.
3: Being an apecoin holder means that you also have secret access to exclusive games merch events and services.
Where they will incentivize people to use apecoin and such as their most recent game where you are going through a sewer. Using the board ape or using a mutant nape and being able to collect prizes or boost up your position within that game which had resulted in further airdrops.
Such as sewer passes now the reason why this was added to the list is just the fact that they have significant ties with the Yuga Labs board apiakla project.
It officially launched on March 17 2022 and it’s still considered one of the top NFT projects right now with a market cap of over 1.8 billion dollars.
Amongst this massacre of all these assets going down the floor price of even these board apes are still over a hundred thousand dollars holding yet very strong.
Apcoin has massive Community support behind it if anyone knows a thing about crypto you need to know that a project can only survive with great Community support.
Now, this is true anywhere from micro-cap cryptos to the mid-caps to even some of the highest largest projects.
Apcoin has not been around for a long time and within the past year that they’ve been released they’re already within the top 50 coins in the world by total market cap.
And that happened despite the overall crypto markets taking a massive hit within the past year where several prominent projects crashed and burned. Not only did apecoin reach a market cap of over 2 billion dollars on its launch date.
But it even got as high as 7 billion dollars less than a month later now that alone right there should show you how strong the ape Community is and how much demand there is for anything closely affiliated with that Yuga Labs team.
Although ape-coin is still technically considered like a meme cryptocurrency as well. At the time of writing this article, apecoin is sitting at 5 dollars and 50 cents.
It’s currently on at about an 81 discount from that mid-20 range but if it does return back to those points you would see a Roi of over 430 percent.
4: Ethereum Cryptocurrency:
Ethereum cryptocurrency is currently still the second largest crypto in the world by total market cap and it is essentially a decentralized platform that enables the creation and execution of a lot of those smart contracts.
Now Ethereum has still been developing in a very healthy manner just because its market cap has been expanding.
Or seeing a lot of the other NFT projects taking off a reliable security platform and we are seeing even better projects with utility being built on that Ethereum ecosystem.
Our team got data showing that the staking rate of the Ethereum proof of State contract formally called the Ethereum 2.0 upgrade has now surged up.
Recently showing a sign that there could be even more bullish action happening for this crypto project.
But Ethereum is also going to have a new upgrade and this is called the Ethereum Shanghai Hard Fork.
Which is slated to occur in March of 2023 this upgrade is going to cap off the Network’s move to proof of stake which was stated during the merge back on September 15 2022.
Once Shanghai is implemented previously locked Ethereum will gradually become liquid for the first time since December 2020.
According to on-chain data that we got from etherscan we had over 16 million dollars worth of Ethereum currently locked within the proof of stake protocol.
But now as we continue to move through these upgrades you’ll notice that we are starting to achieve its original goal which was to make Ethereum Supply even more deflationary.
Although Ethereum is going to have more liquidity and it is another reason why more people would invest in it knowing that it is a viable way to continue earning interest. While things in this economy still aren’t looking good.
At the time of writing this article, Ethereum was actually sitting at 1700 dollars which is pretty amazing for the start of this year.
When they were still going back in November at around a thousand dollars and right now it’s almost double that price point. It is approaching 2000 dollars from what people see in the three-month history of this price.
If Ethereum ends up going back to the previous all-time high we’ll be seeing over 200 percent in return on investment.
5: Bitcoin Cryptocurrency:
Bitcoin Cryptocurrency is the safest cryptocurrency see they’ve unlocked a whole new world of something called Bitcoin NFTs.
Which is its new fad where in the possibility this could be bringing even more added value to the OG cryptocurrency.
Bitcoin is still officially labelled as a commodity by the SEC and the CFTC and it’s showing that there are still many institutions. If they want to get into crypto they got to go through Bitcoin.
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First that right there is a huge bullish case for Bitcoin because it shows the SEC is approving this and it’s not interfering as much as it does with some of the other coins within the market.
I expect Bitcoin to be one of the leading cryptocurrencies where it’s still popular all over the world and right now it’s still doing its thing. It’s holding value now Bitcoin also still has a built-in deflationary system.
Bitcoin has meaning that the buying power increases over time instead of decreasing like fiat currency.
Bitcoin right now has a hard cap of 21 million tokens which is expected to be reached at the end of 2000 140 but until then the having mechanism helps to keep Bitcoin a scarce inflation-resistant resource by making the mining process still less efficient.
Now Bitcoin actually is doing fairly well today as I mentioned earlier in this article it was at about 24 to 25 000 in the previous bull cycle we saw it approaching 68 to 69 000.
That would still give you at least a Roi of 200 now while Bitcoin is still the safer alternative.
It is still just one of the most viable if we ever saw a huge market crash for whatever reason happening again Bitcoin is often the most liquid one just because of how much market cap exists and how much volume still runs and flows through.
Keep in mind crypto is still risking volatile game so please always make sure that you do your own due diligence before buying into any project determine your risk tolerance and stick to a game plan.