8 Crypto Coins In The Crypto Market To Invest In 2023
Cryptocurrencies have become more familiar among investors. As they are gaining more grip on Wall Street, investors are getting more options. Currently, more than 22,000 cryptocurrencies are available in the market. Cryptocurrencies are now used to purchase many products and services. However, most people consider cryptocurrencies as a long-term investment option. But the volatile nature of cryptocurrencies makes them a risky investment. Therefore, find the best crypto coins before deciding which one to invest in. Below is the list of the crypto coins that can be considered as an investment option in 2023.
Bitcoin is the first cryptocurrency released on the market. The market cap and price of bitcoins are higher than other cryptocurrencies, making it a leader in the crypto market. Several businesses have started to accept bitcoin payments to purchase their products and services. Therefore, bitcoin is considered to be a smart investment option in 2023.
Ethereum network helps developers to build their cryptocurrencies and use the network to execute smart contracts. Even though the value of Ethereum is lower than that of bitcoins, it has a higher value than the other cryptocurrencies in the market. The unique technology of Ethereum makes it the second-largest popular cryptocurrency after bitcoin.
- Binance Coin
The performance of Binance coin over time has made it a stable investment choice. This coin is the native crypto token of Binance, which is the largest crypto exchange. Even though Binance has substantial functionalities, it is an extremely volatile investment option. Binance has taken a huge initiative to recover the crypto market after the breakdown of the FTX exchange.
The small footprint of Cardano is appealing to many investors. A Cardano transaction needs less energy to execute a transaction when compared to larger crypto networks such as Bitcoin. Thus, transactions will be cheaper and faster. Cardano has also launched a platform known as AdaSwap, which can elevate it to a Web3 network.
Polygon is primarily designed to scale Ethereum and to develop infrastructure. It is a layer two solution to expand Ethereum into an efficient multi-chain system. Thus, the verification speed and transaction will be improved. Polygon is supported by Coinbase and Binance cryptocurrency exchanges.
- Terra 2.0
The Terra Classic blockchain made use of stablecoins to support global payment solutions. The native coin of Terra Classic is symbolized as LUNC. The crash of Terra has encouraged them to rebrand their network and launched Terra 2.0. It is a new blockchain with no algorithmic stablecoin.
Avalanche is a blockchain that is aimed at improving the base protocol for making a more scalable system. Avalanche has 3 individual blockchains to independently validate all the transactions. Thus, it is a scalable token that can handle huge transaction volumes. Therefore, Avalanche is gaining popularity among various Ethereum projects.
Chainlink makes use of a decentralized oracle network to secure interactions among various external data feeds and blockchains, payment methods and events, etc. Chainlink and Google have a strategic partnership, where Google uses the protocol of Chainlink to connect users with their cloud services.