The majority of 2022 was bearish for the crypto market. Prices started going downhill due to several reasons, which include rising inflation, macroeconomic factors, and some exchanges and cryptocurrencies crashing, such as when the algorithm stablecoin TerraUSD (UST) collapsed in May 2022. This also dragged the value of its sister token Terra (LUNA), which may have triggered fear, uncertainty, and doubt (FUD) in the crypto community.
Will 2023 be a Good Year for Crypto?
The market hasn’t recovered yet, but crypto analysts are optimistic about how the crypto market will go in 2023. Some predictions say global crypto adoption will be distinctive in 2023 as more individuals and businesses use Bitcoin to send crypto payments. On the other hand, some say web3 platforms, gaming, non-fungible tokens (NFTs) and decentralized autonomous organizations will continue to grow.
What About the Cryptocurrencies in 2022?
Some experts and analysts believe these are some of the top cryptocurrencies in 2023. However, this is neither financial advice, nor does it recommend any of the listed coins or tokens.
1. Bitcoin (BTC)
BTC started it all for the crypto market. It was launched in 2009 by the pseudonym Satoshi Nakamoto to provide an option to transact without third parties like banks, other financial institutions, or even the government.
From reaching its all-time high of over $68,000 in November 2021, BTC’s value dropped to around $16,000 in November 2022. But despite the crypto winter, BTC remains the most popular cryptocurrency in the market. And with a market capitalization of over $400 billion as of January 2023, experts believe it will hold strong in 2023 due to past returns.
Learn how to send Bitcoin now.
2. Ethereum (ETH)
ETH, the native crypto of the Ethereum network, has seen a significant rise in value in recent years. It went from $11 in April 2016 to over $3,000 in the beginning of March 2022. It has the second-largest market cap in the crypto space as of writing (nearly $200 billion), which could also be why many analysts think it will remain attractive to users in 2023.
Learn how to send Ethereum now
3. Tether (USDT)
USDT has a stable nature and is trying to hold its market value to outside references. It is the largest and most popular stablecoin pegged to the U.S. dollar, and users have relied on it for years, making it an evident choice for experts. USDT’s market cap as of writing is around $66 billion.
Learn how to swap USDT now
4. Binance Coin (BNB)
BNB is the native crypto of Binance, one of the largest crypto exchanges in the world. It’s a widely traded token, and it stands 4th at the largest market cap rankings (about $50 billion market cap). It was initially facilitated for trade back in 2017 and is now being used for payments, trading, booking tickets, and more.
5. Cardano (ADA)
With its proof-of-stake mechanism, ADA speeds up transaction times and reduces effort. It lost almost 8% of its value in 2022, yet experts believe it’ll most likely bounce back in 2023. Its market cap as of writing is nearly $13 billion.
6. XRP (XRP)
XRP can be used on the Ripple network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies. From standing at $0.006 in early 2017 to reaching $0.37 in the second week of January 2023, XRP’s value has increased by over 6,000%. Experts and analysts are bullish on the token, which has a market cap of over $20 billion.
7. Bonus: KASTA (KASTA)
The KASTA token is the native crypto of Ka.app, a crypto app for beginners. The token has multiple use cases in the app, such as receiving benefits, rewards for the app’s crypto referral program, and a payment method for sending and receiving crypto to other users.
The Ka.app team is continuously adding new features and currencies to the app, which may indicate a good year for the token.
Final Thoughts
Analysts and experts may have different predictions, but at the end of the day, it’s good to keep in mind that the crypto market is highly volatile and risky. One event can cause a rally, dip, or drastic price change, so be sure to stay updated, do your research, and measure potential risks.
