Top 3 Coins to Watch Out for in 2023
Yes, 2022 has been a difficult year for the digital asset industry. Several coins are reeling from the bitter crypto winter that raged on throughout the year. Even top cryptocurrencies like Bitcoin and Ethereum are down more than 65 percent YTD.
Despite these treacherous market conditions, some coins look poised to post gains in 2023. Here’s a look at some of these projects that warrant your attention in the coming year. Let’s go!
It’s been a poor show for ETH in 2022. The second-largest cryptocurrency by market capitalisation has lost 68 percent of its value YTD. However, there are plenty of positives to look forward to in 2023. For instance, Ethereum is expected to unlock staked ether and the corresponding staking rewards in Q1 of 2023.
Further, Ethereum is also planning to introduce sharding — a system that will improve the network’s throughput and scalability — somewhere in the coming year. This will draw even more projects to the network, thereby improving its value proposition. As such, Ethereum is a worthy addition to your watchlist in 2023.
Cardano is another network that has suffered tremendously at the hands of the crypto winter. The Ethereum killer is down over 80 percent for the year. However, there are several promising signs coming out of an otherwise lacklustre year.
For instance, as of Dec 16, Cardano recorded nearly 57 million transactions in 2022, equating to a 139 percent surge since the last year. It’s a similar story for network’s wallet count, which grew to 3.8 million, representing a 47 percent spike since 2021.
The positives keep adding up as we look to the future. To begin with, Cardano is set to introduce its stablecoin in 2023, which should expand the network’s user base and utility. Further, in a recent Twitter AMA, Cardano co-founder Charles Hoskinson also hinted at NFT plans in the coming year, adding to the promise of an expanding user base in 2023. All these factors, put together, point to a potentially good upcoming year for Cardano.
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