Top 5 Altcoins to buy for Profit in 2023

The cryptocurrency market as a whole has fallen from its super high in December. Nonetheless, many cryptocurrencies have proven to be healthy, high-quality investments over the long term, offering good returns for those interested in holding and selling during price increases. The current market price may not be ideal for sellers, but for buyers who want to get in, it is definitely an opportunity to buy low and hope to sell high. Even in a bear market, for some investors,

Bitcoin ’s (BTC) price of around $22,000 is still “out of reach”. Anyone who buys Bitcoin for less than $6,000 in 2020, or less than a dollar in the early days, will be making huge profits in the cryptocurrency “winter.” But there are many promising altcoins on the market, many of which have more utility and potential than the cryptocurrency “big brother.”

So, assuming the market cycle pushes cryptocurrencies higher again in 2023, which altcoins offer the best return on investment? This article will introduce you to some interesting coins to consider adding to your portfolio.

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1. Ether (ETH)

Ether (ETH) is in the spotlight with the upcoming Merge upgrade , which transitions the second-largest cryptocurrency by market capitalization from proof-of-work (PoW) to proof-of-stake consensus (PoS). Expect large short-term price swings around the Merge upgrade in September, but what about 2023? Next year, not only will Ethereum remain the primary foundation for important cryptographic technologies like smart contracts, DeFi, and NFTs, but it should also be faster and more scalable. These advantages will make it more popular with developers and enterprises, and may help it appreciate in the long term.

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2. Ripple (XRP)

Ripple (XRP) doesn’t make headlines often, but thanks to its fast, energy-efficient operations, Ripple is the altcoin of choice for financial institutions and multinational payment providers. the market boom. Western Union and MoneyGram are reportedly testing Ripple’s services, and the World Economic Forum recently nominated Ripple as a partner. Ripple is poised to double in value as before, as cryptocurrencies become more mainstream and the importance of fast and reliable cross-border transactions grows.

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3. Solana (SOL)

Solana (SOL) is a very interesting open source cryptocurrency project focused on DeFi applications. Although only a few years old, Solana has rapidly grown in value to become one of the top rated altcoins thanks to its innovative Proof of History (PoH) consensus method that makes it faster and more reliable Scalability, attractive to dApp developers. During the last major bull run in the crypto market, Solana surged from $35 to $258. Currently, its price is back around $35, so will it go even higher in the next cycle?

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4. Cosmos (ATOM)

Cosmos (ATOM) is a forward-looking cryptocurrency that not only uses a scalable consensus method, but also incorporates features that facilitate communication between different blockchains. This feature is critical to the future of the blockchain, and ATOM tokens need to be involved. Therefore, when the blockchain system matures, there is a good chance that Cosmos will surpass the previous level of $44 per coin.

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5. Decentraland (MANA)

Decentraland (MANA) is the governance token of the metaverse world. Decentraland is a platform for VR interaction, gaming, digital advertising, creative collaboration, NFT creation & exchange, etc. Among the many cryptocurrency metaverse projects, decentralization is one of the most popular, with the MANA token performing relatively well. The vision of the metaverse has captivated many people and industries, but Zuckerberg’s version has recently been ridiculed around the world. Instead, a user-governed, cryptocurrency-based, decentralized metaverse may end up having the last laugh. If so, MANA will bring very impressive returns to investors.

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Bybit – The Best Platform for Altcoin Investing

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