With a tumultuous 2023 just about coming to a close, cryptocurrency investors are already starting to identify what they think will be the best projects to invest in when 2023 kicks off.
This short article will identify eight of the most promising projects in the crypto space, all of which speak to the promise the sector has as a whole – even despite all of the volatility we have experienced in the last year.
So if you want to stay ahead of the pack and get a sneak peek at the most exciting crypto projects for 2023, keep reading!
Overall, 2023 has been a fairly monumental year for Ethereum. Notably, the completion of the much-anticipated merge transitioned the Ethereum network from proof-of-work to proof-of-stake. This has significantly improved the overall network functionality and reduced its energy consumption by around 99.5%, according to one report.
Ethereum has more planned developments due to come on stream in 2023, which should help to further raise the profile and market valuation of Ethereum. It is clear that Ethereum has one of the sharpest development teams behind it, and we can’t wait to see what they achieve in 2023 and beyond.
Smooth Love Potion
On the more niche and unusual end of the cryptocurrency spectrum, if okx.com is anything to go by, tokens such as Smooth Love Potion (SLP) look set to have a great year ahead of them. SLP is a digital, in-game currency for the popular Axie Infinity game.
Players use the SLP token to breed digital collectible pets, which can be used in the game. Tokens like SLP have got the cryptocurrency world buzzing, as they give us a sense of what the future of metaverse gaming might look like!
Despite the fact that it is the oldest and most popular cryptocurrency by far – and has seen some of the biggest falls in value this year – Bitcoin still represents a good value proposition for 2023.
Although much of this is to do with the fact that a significant part of the cryptocurrency ecosystem is built around the digital asset that started it all, there are also some positive developmental milestones on the near horizon.
And if the past is any sort of guide, it is more than likely Bitcoin that will pull us out of the bear market we currently find ourselves in.
VeChain is an enterprise-level blockchain solution to managing supply chains and touts itself as providing an ecosystem that can help to solve real-world economic problems. VeChain is a smart-contract compatible blockchain-based technology that is designed to solve problems in supply chain management.
It was developed to solve some of the limitations of other large-scale commercial DApps built on the Ethereum network. Given the wide range of potential commercial applications it has, interest in VeChain has remained strong throughout 2023 and this looks set to continue into 2023.
With a total market capitalization that is easily in the billions of dollars, the Binance coin is one of the most frequently traded coins currently in circulation. It also has a unique place in the wider cryptocurrency ecosystem, given its close relationship with the Binance trading platform.
Although it was originally created as a way of discounting trading fees on the Binance platform, Binance coin has since grown to be used for a wide variety of functions, including payments for financial services and entertainment bookings. And given that the Binance trading platform has grown to be a key player in the cryptocurrency space, we can expect to read a lot more about Binance coin in the year to come.
The Bored Ape Yacht Club is a collection of algorithmically generated NFTs. The collection exploded in popularity last year when NFTs really start to make it big. ApeCoin developed from this artistic project and was launched by Yuga Labs.
It was designed to be the native token of the Bored Ape Yacht Club. Ownership of ApeCoin gives its holders exclusive access to events, games, merchandise, and a range of different services. Although NFTs have faded from the spotlight in 2023 to a large extent, we can expect demand for ApeCoin to remain high in 2023, given the popularity of the brand.
Touted as the “Dogecoin Killer” by many in the industry, Shiba Inu is one of the most popular meme coins currently in circulation. Shiba Inu was created as an experiment in community building and looked to recreate some of the unique community spirits that was present in the early days of Dogecoin. Since then, it has grown from strength to strength and has spawned an entire ecosystem around it. Nowhere is this community more present than in the r/SHIBArmy subreddit, which has grown to hundreds of thousands of members. Although its price has experienced a lot of volatility over the last year, the industry outlook is largely positive given the strength of the community around it, which has helped to keep its price in a relatively good place.
Dash 2 Trade
Although it is still in its early startup phase, Dash 2 Trade (aka D2T token) has already generated a significant amount of industry awareness. Dash 2 Trade is a utility token with a specific commercial application, and looks to simplify the trading process. It allows users to follow social and market sentiment and to recognize crypto investment opportunities early on. It also allows you to get in on promising projects as early as possible by following pre-sales.
The outlook for the crypto industry in 2023?
Despite the fact that the cryptocurrency markets have not been performing particularly well for much of 2023, there is still a lot to be excited about as we move into 2023. This is particularly true of the projects identified above, all of which continue to generate investment interest within the sector.
While we can’t guarantee that the prices will go in any particular direction – although we hope it is upward – we do know that the cryptocurrency sector will continue to be just as innovative and exciting as it always has!