Top 6 Crypto Altcoins That May Rise in Price in 2023 by CoinEdition
© Reuters Top 6 Crypto Altcoins That May Rise in Price in 2023- The total crypto market cap fell 1.52% in the last 24 hours.
- Number 6 on the list of altcoins set to explode in 2023 is ETH.
- The list also includes ADA, MATIC, ALGO and XRP.
The global crypto market capitalization has fallen 1.52% in the past 24 hours to reduce the total market capitalization to $923.12 billion according to the crypto market tracking website, CoinMarketCap. This could be a buying opportunity for traders and investors. As such, here are 6 altcoins that are set to explode in 2023.
Number 6 on the list is the second largest crypto by market capitalization and the largest altcoin by market capitalization, Ethereum (ETH). The altcoin is a coin to watch given its dominant presence in the crypto market.
For the past 2 years, investors in the crypto market have questioned whether ETH was losing its competitive edge in the market, but the recent merger event should put any lack of investor confidence to rest.
At number 5 on the list is Polygon (MATIC), which is a Layer-2 scaling solution designed to speed up transaction times and reduce transaction costs on the ETH network. Given ETH’s Merge event, MATIC will see its price rise as the ETH ecosystem expands over the next couple of months.
XRP (XRP) is at number 4 on the list for being an ISO 20022 compliant token. This means that XRP can be used in the banking space to potentially replace or integrate with the current SWIFT system. The company behind this remittance token, , has been in a 2-year legal battle with the SEC, but the latest developments in the lawsuit see the tide turning in Ripple’s favor.
The next token on the list is Algorand (ALGO), which occupies the third place. Like XRP, ALGO is also an ISO 20022 compliant token that could potentially replace or integrate with the current SWIFT system. The Algorand blockchain is a scalable blockchain network that can be used to trade a variety of cryptocurrencies, including the platform’s native crypto token, ALGO.
Cardano (ADA) takes the second place on the list after the recent launch of the Vasil hard fork update, and the growth plan for next year. Additionally, the founder of Emurgo, which is Cardano’s development lab, Ken Kodama, said in a recent interview that the company will invest more than $200 million over the next 3 years to boost the ecosystem’s growth.
At the top of the list is the blockchain oracle company, Chainlink (LINK), whose ecosystem has expanded to 1,500+ projects. In addition, SWIFT recently announced its partnership with the blockchain data company.
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