What are the next big cryptocurrencies in 2023?
Updated: 4 days ago
Author: Marie Gerland
Date of Publication: 24/04/2023
Cryptocurrencies are evolving and developing year after year. Indeed, there are more and more cryptocurrencies nowadays. What’s more, people are getting really interested in investing in cryptocurrencies. However, it is hard to know which cryptocurrency is the best to make a good investment. This is why we are going to focus on 5 cryptocurrencies that are going to be promising in 2023. These 5 cryptocurrencies have existed for several years but are also new cryptocurrencies.
XRP: The growing digital currency
XRP or Ripple is a digital currency launched in 2012. In fact, XRP has been part of the 10 best cryptocurrencies in terms of market value for many years. Particularly, this cryptocurrency has mainly 3 strengths.
1. One of the peculiarities of the cryptocurrency XRP is that it enables really fast
transactions, in only 4 seconds. Therefore, XRP is known as one of the fastest digital
2. Ripple also enables transactions with low fees. Indeed, users of Ripple will pay less
than 50% of transaction fees in comparison with other providers.
3. The XRP currency is used by important banks in the world. For example, Santander is
using the technology of Ripple for payments across countries. Therefore, many people use XRP across the world. Thanks to the strength of cryptocurrency, we can expect a growth in the number of users in 2023. This could result in higher returns for XRP.
Cardano: the use of innovation to develop Cardano
Cardano is an Ethereum blockchain platform creating decentralized applications. In
particular, Cardano has its own cryptocurrency called ADA. That’s why it’s considered as a
promising cryptocurrency for 2023. What’s more, it’s a sustainable and securitized
cryptocurrency with a high market capitalization.
But why is it interesting to invest in Cardano? Well, it’s interesting for 2 reasons.
Indeed, the owners of Cardano invest a lot to develop blockchain technology. Thus,
Cardano should continue to be an efficient and secure platform to use. Moreover, users of
the Cardano platform have the right to vote for changes on the platform. Therefore, the
blockchain platform will follow the needs of its users.
Shiba Inu: the promising meme coin
Shiba Inu Coin is a meme coin, created in 2020 and based on the Ethereum blockchain. This new cryptocurrency was created to represent a decentralized alternative for example to Ethereum or Bitcoin. Specifically, Shiba Inu is a cryptocurrency with a very low price in April 2023. Thus, it is an accessible cryptocurrency for investors with low amounts of investments.
Moreover, Shiba Inu is giving a huge place to its community and it’s governed by its users. Thus, the community of users is choosing how the coin will develop. Therefore, the Shiba Inu coin has strengths, and we need to follow its evolution of it to see if it will perform in the long term.
Decentraland: a virtual reality game
Decentraland is a virtual reality platform based on the Ethereum blockchain. In particular, it was created in 2017 and is owned and controlled by its users. In addition, Decentraland uses MANA, its cryptocurrency, for transactions. More to the point, MANA is the 2 nd cryptocurrency in gaming on the market. So, users of Decentraland use MANA to buy Land (NFT) on the platform.
Moreover, the Decentraland platform has gained popularity because of the increasing interest in blockchain technology and virtual reality. This is because Decentraland is also based on a strong community of users.
Polygon was created in 2017 and its previous name was Matic Network. Particularly, it is a
two-scaling solution for Ethereum. So, this means that Polygon enables the scalability of
Polygon also has its cryptocurrency called MATIC. In April 2023, Polygon was one of the
largest cryptocurrencies in terms of market value. So, MATIC has gained popularity among users looking for faster and cheaper alternatives to Ethereum.
Moreover, a great advantage of MATIC is that it is unavoidable. Indeed, users need MATIC to pay transaction fees. Thus, the number of users of Polygon (and MATIC) is increasing.
So, we have focused on 5 cryptocurrencies that should be promising in 2023 and thus
generate great returns. However, there are risks when investing in cryptocurrency.
Therefore, investors should balance returns and risks. Moreover, it is hard to make precise predictions about the cryptocurrency market. Hence, people should push investigations on the evolution of cryptocurrencies in 2023 before investing.