Top 4 Cryptocurrencies to Acquire in 2023
Cryptocurrency has experienced significant growth and advancement since its inception in 2009 up until now. According to a report on Statista, as of the end of 2022, the number of active crypto asset accounts in Japan reached around 3.72 million users.
With the substantial growth you’ve seen, you might be considering investing in cryptocurrency. It is crucial to evaluate the best cryptocurrency for investment by highlighting the essential factors to consider.
By reading this article, you’ll discover cryptocurrencies with a higher market capitalization that offer great profit potential and the best crypto to buy now. Following are the top cryptos for both short-term gains and long-term growth in 2023:
Dogecoin (DOGE)
This cryptocurrency was originally started as a joke in the form of a meme coin in 2013. However, Dogecoin evolved into a prominent cryptocurrency and ended up being 2nd most well-known cryptocurrency in the United States in 2023.
Being an inflationary currency, Dogecoin has no limit over the creation of Dogecoins which attracts more investors. By 1st September, Dogecoin is priced at $0.06 with a crypto market cap of $8.929B
Bitcoin (BTC)
Bitcoin, established in 2009, depending upon cryptography, remains the leading peer-to-peer cryptocurrency, overshadowing numerous others that emerged later. By introducing blockchain, Bitcoin provides the most decentralized and secure digital currency which can’t be penetrated by fraudsters or other authorities. The bitcoin can be marketed directly without any intermediate handling like a bank.
Bitcoin can be a great profit if you can afford to buy it. As bitcoin transaction was at a peak in May 2023 when 670,000 coins were sold on the same day. The recent price of bitcoin is $25,875.66 with a crypto market cap of $504.30B.
Litecoin (LTC)
Litecoin is a cryptocurrency, which is referred to as the silver to Bitcoin’s gold, and utilizes blockchain technology to maintain a decentralized ledger that records all transactions. However, it isn’t controlled by any central authority. Litecoin relies on Proof-of-Work to achieve consensus on the state of its ledger.
As an early rival to Bitcoin, Litecoin doesn’t pose a significant threat to its dominance. But Litecoin has a higher supply than Bitcoin and generates new blocks in less time than Bitcoin. By September 4th Litecoin is priced at $64.18 with a crypto market cap of $4.76B.
Solana (SOL)
Solana is a blockchain that has been the center of attention by investors due to its remarkable speed of transaction. Solana is referred to as the “Ethereum killer” due to its quick, secure, and underrated price by utilizing proof-of-stakes and proof-of-history mechanisms.
The current price of Solana is $19.62 with a crypto market cap of $7.95B with a 9th rank on the Coin Market Cap ranking
Conclusion
There are numerous other cryptocurrencies with great market value and influence. While investing in a crypto currency, It is crucial to consider that they have a longer period, significant market capitalization, solid liquidity, and a well-developed ecosystem of resources for users.
Keep in mind that cryptocurrency also contains risks such as market volatility. However, this risk can be reduced by conducting throughout research on cryptocurrency and its market trends. Investing in cryptocurrency can be a great leap if done correctly. Have more information about cryptocurrency by following our blogs.
