Best 7 Crypto To Buy In 2023

LAGOS (CoinChapter.com) — 2022 was an eventful year in the cryptocurrency space with numerous digital platforms collapsing and bankruptcies overwhelming the industry.

Notably, the total crypto market capitalization declined by 65% last year and as of writing, BTC is down 64% year to date and ETH is down 66%. Moreover, most other major altcoins in the crypto market are also down more than 90%.

Going further it is no understatement to declare that the last 12 months have been strewn with crypto meltdowns, bankruptcies, and chaos, invariably the losses should not be surprising to anyone. Consequently, the question is whether the 2022 market chaos will continue in 2023 and how long the crypto winter might last.

As a result, Coinchapter carried out an in-depth analysis of the crypto market to highlight cryptocurrencies that investors and traders should watch out for.

Here are our best 7 cryptocurrencies that might offer remarkable opportunities in 2023

1. Bitcoin (BTC)

First on the list of top cryptocurrencies to buy in the new year is Bitcoin. Notably, being the pioneer of the space, the digital asset still commands a large share of the market with performances that have outpaced everyone’s expectations.

Despite suffering heavily from the 2022 crisis which struck the wider crypto market, many leading crypto traders still consider Bitcoin (BTC) a good investment opportunity. Bitcoin has also been forecasted to start a bullish run in the first half of 2023.

2. Cardano (ADA)

Cardano (ADA) is another project that might spark the next cryptocurrency bull run. The blockchain platform aims to develop into the “Internet of Blockchains,” and Charles Hoskinson (one of the Ethereum co-founders), is making Cardano more scalable, interoperable, and sustainable than most of the industry’s top networks.

Cardano comes in second place on our list as the number of its Plutus smart contracts soared 394% last year. Furthermore, tokens on the platform also increased by 192% in 2023. In addition, transactions on the network grew by 139% making it a worthy investment in 2023.

Additionally, Cardano’s proof-of-stake (PoS) consensus mechanism makes it a better option than other popular cryptocurrencies like Bitcoin and Dogecoin. Its smart contract functionality also makes the network a strong alternative for dApp developers.

3. Ethereum (ETH)

Third on our list of top cryptocurrencies to buy in 2023 is Ethereum which is the second-largest cryptocurrency in the world. There have even been arguments that Ethereum is better than its predecessor bitcoin because of its wide array of use cases.

Notably, Ethereum is on our list because it is the network of choice for dApp developers to build their platforms. And as more people embrace the asset, Ethereum’s value could skyrocket and it reach will reach its true potential in 2023.

Recall that after the Merge upgrade, which transitioned the network from the Proof-of-Work (PoW) to the Proof-of-Stake (PoS) consensus mechanism, Ethereum price failed to record any significant upward movement as a result of other wider macro factors. 

Interestingly, David Kemmerer CEO of CoinLedger projects that the crypto could rise as high as $2,500 in the next six months.

4. Ripple (XRP)

XRP is one digital asset whose growth had been stunted by the Securities and Exchange Commission’s ongoing case against Ripple. However, as the case has been in court for so long, it is likely to end in 2023. If Ripple triumphs over the SEC in this case then the price of XRP will likely explode in response.

One problem with this pick is that unlike the others in this list, it stands to lose a lot if the case goes in favor of the SEC. So an investment in XRP is more than not a gamble on how the Ripple v. SEC case will turn out.

Although it is the fourth top cryptocurrency to buy in 2023 it is important to note that while there is potential for a lot of profit if you invest in XRP, there is also a possibility for a lot of losses.

5. ApeCoin (APE)

With non-fungible tokens speculated to surge in 2023, a project like Apecoin is expected to surge as well. The Bored Ape Yacht Club (BAYC) collection, is one of the most expensive NFTs, and it is closely associated with the ERC-20 token (ApeCoin).

BAYC NFTs had garnered attention from A-list celebrities, leading to much hype when ApeCoin was released earlier this year. ApeCoin was not created by the people who created BAYC. However, it is now the native token of metaverse project “Otherside,” which was introduced by Yuga Labs.

ApeCoin has been incorporated into other mobile games in addition to this upcoming virtual world, offering much-needed use cases. APE still doesn’t have much utility, but it could profit immensely in 2023 from the massive community.

6. Binance Coin (BNB)

Binance Coin (BNB) takes sixth place on our list of best crypto to buy in 2023. The token in 2022 during the bear market held on to gains better than its larger counterparts including Bitcoin and Ethereum.

Additionally, BNB is backed by Binance, which is the largest crypto exchange in the world by trading volume. Notably, being tied to such a formidable business has done wonders for the asset. It is currently the fifth-largest cryptocurrency in the world by market cap, according to data from Coingecko.

BNB carries great promise in 2023 as Binance overcomes the FUD targeted at it last year. The crypto exchange has also shown that it is able to withstand turbulence that led to the collapse of FTX. This invariably shows that BNB remains strong and is a worthy investment in 2023.

7. Dogecoin (DOGE)

The largest meme coin by market cap is our seventh crypto to buy in 2023. Dogecoin is on our list because of the token remarkable timeline since it was established till date.

The token also has the backing of prominent individuals. These include Elon Musk, Mark Cuban, and Matt Wallace, amongst others who have shown no signs of changing. This invariably makes Dogecoin a reasonable bet going into the new year.