Altcoins To Closely Watch In 2023

Altcoins To Closely Watch In 2023

The performance of cryptocurrencies in 2022 has been underwhelming, as many digital assets have failed to live up to expectations in what seems to be a bad year for the crypto market. From Bitcoin, which traded for $40k in February and is now around $17,000 today, to Terra’s LUNA losing 90% of its value in a single week in May 2022, it has been an unfavorable year for many crypto investors. Unfortunately, the story is the same for many altcoins, including Ethereum and Co., whose value has all dipped this year.

Surprisingly, one would not have predicted the year’s outcome for cryptos, as 2022 started with much positivity. Firstly, institutional adoption of cryptocurrencies remained high like in 2021, with corporations like Microstrategy and Luna Foundation Guard all acquiring Bitcoin in Q1 2022. North American nation El Salvador, which also became the first country to adopt Bitcoin as a legal tender, also increased its investment in the cryptocurrency to $375 million. Also, in early 2022, global brands like Google, Uber, and PayPal touted receiving cryptocurrencies as payment for goods and services.

Unfortunately, crypto analysts believe that the Russian-Ukrainian war, which led to rumors of World War 3, saw many crypto investors dump their assets. This act led to the early collapse of many cryptos in 2022. Institutional investors like Elon Musk-owned Tesla, who have now reportedly sold 75% of its $1.5 billion worth of Bitcoin purchased in 2021, did not also help the falling crypto market. Lastly, Sam Bankman-Fried’s FTX and FTX.US, who filed for bankruptcy in November 2022 after being unable to meet the high volume of customer withdrawals, also let the crypto market down. All these and many other factors are why the crypto market capitalization is around $845 billion today- a figure far from the $2.7 trillion it was in 2021.

Which Altcoin Should I Buy: Top 8 Altcoins That Are Set To Explode In 2023

However, despite the downs, all hope is not lost, as investors and crypto analysts are optimistic about a bull run in 2023. In a recent survey, finance company- Fidelity Management gathered that institutional investment in cryptocurrencies will increase in 2023, as many companies will be willing to purchase Bitcoin and other altcoins. Many crypto analysts have also continued to analyze the future of some crypto projects, especially new ones, that look set to explode in 2023.

However, listed below are eight altcoins that have the potential to make investors richer in 2023, and many crypto analysts think they should not be missing in investors’ portfolios next year. As always, please carry out adequate research before you buy or sell any cryptos. New-age platforms like BitiCodes offer fairly advanced AI-based tools to enable intelligent trades.

RobotEra (TARO)

Launched in 2022, RobotEra is a multiverse crypto platform featuring built-in games, exploration, concerts, NFT communities, and many other bespoke services. The platform boasts an in-game NFT marketplace for users to trade their assets and also offers a play-to-earn world where they can invest in virtual real estate.

The platform utilizes the TARO token to function optimally, and users can earn it while playing games and selling NFTs. However, while it is still at its presale stage, TARO is set to launch on the LBank exchange in 2023. The multi-functional token, with a 1.8 billion fixed supply, is predicted to be one of the most profitable altcoins to watch out for in 2023.

Uniswap (UNI)

Uniswap’s position as one of the leading DEXs on Ethereum is unrivaled as the platform continues to improve its services to its growing users. The platform’s latest improvement on Optimism- a solution that allows users to pay gas fees in any token while also enjoying instant and cheap transactions, is set to improve its usability in 2023. Uniswap developers have also signaled that they will roll out many significant upgrades in 2023 to improve the protocol’s speed and interoperability.

However, the good news is that this upgrade, and many other improvements projected for 2023, will improve the fortune of the protocol’s token UNI. This could be a good option for Investors willing to explore the DeFi market in 2023.

Dash 2 Trade (D2T)

Dash 2 Trade, also known as D2T, is a unique crypto platform that aims to provide investors with highly sophisticated trading tools, like market metrics, social analytics, and on-chain data, to ease their journey into the world of cryptocurrencies. Developed by highly experienced traders, the platform is predicted to be one of the next big things in the crypto space.

The platform will fully launch in 2023, and its native and utility token will be D2T. D2T is an ERC-20 token with a total fixed supply of 1 billion coins, with 700 million of this supply projected to be sold during its presale. As of today, more than $5 million worth of the token has already been sold, posing as one of the best presales of 2022. According to crypto analysts, D2T has enormous growth potential and will be one of 2023’s best-performing altcoins.

ApeCoin (APE)

ApeCoin is the governance token for the Ape DAO, which controls the top NFT franchise- Bored Ape Yacht Club (BAYC). It is also an ERC-20 token that promotes community participation in the Ape DAO. 

The token is one to watch out for in 2023, as there are rumors that BAYC will launch a metaverse in 2023, and APE will be its official currency. The token is also set to be integrated into a list of play-to-earn crypto games developed by Animoca. If and when all this happens, the multi-functional token will see its value skyrocket, with investors profiting. According to crypto analysts, it could end up as one of the best-performing altcoins in 2023.

IMPT

IMPT is one of the first and foremost crypto projects helping individuals and businesses combat climate change with blockchain technology. It remains one of the most valuable blockchain projects in 2022, as its token presale raised a whopping $12.5 million in barely six weeks. 

The project is one of the most stable blockchain entities, as it continues to solve a global issue. At writing, it has sold more than 650 million tokens with the potential to be the most successful crypto project in 2023. It is still very cheap to acquire.

Polygon (MATIC)

Polygon is one of the topmost layer-2 blockchains operating on the Ethereum network. The platform, which improves on the drawbacks of Ethereums, continues improving its scalability and costs. This is why it was listed amongst the six projects added to Disney’s Accelerator program in 2022. This year, it also partnered with the top online trading broker- Robinhood.

Fortunately, since June 2022, MATIC- its governance and utility token, has also witnessed a price leap averaging 60%. However, more is expected from Polygon and MATIC, as crypto analysts predict the project could rise significantly in 2023. Many investors are looking at Matic as a preferred altcoin in 2023.

Calvaria (RIA)

Launched in 2022, Calvaria is a crypto gaming platform that allows users to compete with one another and earn unique cards. These cards, which are also NFTs, can be traded on the platform’s peer-to-peer digital marketplace. The platform’s governance and utility token are RIA, which game players earn as a reward.

Today, RIA is only available via a presale, with the token fixed at $0.025 per coin. However, calvaria developers propose to improve the blockchain gaming platform, which will see RIA listed on major crypto exchanges at a higher price. This will only mean that investors betting on the altcoin could be up for some profits in 2023.

Ethereum

Ethereum remains the leading and most valuable altcoin in the crypto space, offering smart contracts and a home to the NFT space. The cryptocurrency also continues to support the operation of many DeFi projects, offering them a ground to thrive. Alternatively, its functionality and value are not in doubt, as it remains the leading altcoin in the crypto market.

Its performance in 2022 may have been underwhelming, but it will be unwise for investors to overlook the altcoin. The platform’s recent upgrade to the proof-of-stake consensus mechanism is bound to improve not only its scalability and speed but also the price value of Ether. 

Investors looking to explore altcoins in 2023 must pay attention to Ethereum.

Conclusion

In conclusion, while the eight digital assets mentioned here have the potential for success, investors must also look toward other projects, as cryptocurrencies are still uncertain. Cryptos like XRP, Compound, BNB, ZCash, Storj, Cardano, and Dogecoin are some other projects crypto analysts believe will be successful in 2023. 

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.