If current prices are bottom, it will be very easy to buy now and get rich on the next rally. But like what happened to Solana, Helium, SushiSwap, Theta Fuel or Terra, it’s not easy to predict. In this article, let’s list the top 6 altcoin projects for 2023, from Ethereum-based scaling solutions to high-volume altcoins like BNB or XRP, to give you an idea.
Best Ethereum scaling solutions for 2023 radar
Top of Analyst Motiur Rahman’s list, Polygon is the most popular L2 scaling solution on Ethereum. Polygon is already used by many projects, including Sushiswap. It also continues to attract companies entering Web3 and the metaverse. Projects get into Ethereum via Polygon because of their extremely fast transactions. Polygon’s internal testnet also has more than 7,000 transactions per second on a single sidechain. This capacity is significantly higher than the 14 TPS on Ethereum.
Thanks to these features, Polygon’s native token MATIC is an ideal investment for 2023. MATIC is currently ranked 10th on CoinMarketCap with a market cap of $7 billion. You can take a look at the top-level partnerships it signed this year in this article of Kriptokoin.com.
Looping (LRC)
The second-ranked Loopring is another Ethereum L2. It is an open source and non-custodial exchange, also called a payment protocol. The exchange is powered by hybrid scaling solutions that scale the Ethereum network 1000 times.
LTC price is currently trading at a 95% discount from the ATH level. Despite the harsh market conditions, it manages to stay among the top 100 according to market value.
Optimism (OP)
Optimism is an L2 that uses optimistic rollups to support Dapps on Ethereum. The network speeds up transactions and reduces costs on the Ethereum network. The OP token was a sensational cryptocurrency during the June 2022 airdrop. It then rose as high as $2.2 before it cooled off. Optimism is slowly recovering as bears continue to wreak havoc on the market. It is currently trading at $0.9562 at the 106th place by market cap.
Top 10 altcoin picks for bear market earnings
Ethereum (ETH)
The leading altcoin is known for its high gas fees and is therefore widely criticized. However, its switch to the PoS mechanism has made the network more secure and faster. It has completely moved away from Bitcoin, especially in terms of energy efficiency. When it comes to Ethereum, it is almost impossible not to think of NFT and the dApp ecosystem. Being the heart of DeFi means it will be here for a while with its constantly updated technology.
BNB Coin (BNB)
As a Binance-backed crypto, BNB has remained a major player despite being criticized for being “centralized”. The rise of the Binance ecosystem and subsequent importance of BNB (paying for goods and services, setting transaction fees on Binance Smart Chain, participating in private token sales, etc.) cannot be underestimated. That’s why analyst Dhirendra Kumar says BNB should definitely be on the list for 2023.
XRP
Ripple (along with two of its top executives) got involved in a lawsuit with the SEC. The US regulator claims they should register XRP as a security, while the company argues that XRP is a currency. Regardless of the legal battle, XRP still stands out as the ecosystem tries to replace the old, expensive and cumbersome international payment system. It helps traditional financial institutions modernize their infrastructure to enable fast and cost-effective payment transactions.
XRP was trading at $0.3459 at the time of writing. The SEC case is expected to be finalized in 2023.
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