These cryptocurrencies should be treated like royalty for the rest of the year
With a lot of companies across the globe accepting cryptocurrencies as a mode of payment and investing in the same heavily has led to an ever-increasing demand for these digital currencies. Words do not suffice the extent to which the cryptocurrency market has gained recognition over time. That brings us to 10 potential cryptocurrencies that hold the potential to become the next crypto king in 2023. Keep reading to learn more!
Decentraland
The Ethereum blockchain powers Decentraland (MANA), a virtual reality platform that enables users to create, enjoy and sell content and apps. Users can later explore, develop, and monetize plots of land in this virtual environment. Many Decentraland users currently earn profits from their LAND through leasing, advertising, and sponsored activities in addition to using it as a creative outlet.
Flow
Flow, a quick, decentralized, and developer-friendly blockchain, is the future base of the new generation of games, apps, and digital assets. Top entertainment companies, development studios, and venture-backed businesses like Warner Music, Ubisoft, the NBA, and the UFC have already made up the diverse ecosystem of Flow. Given the current performance, FLOW amazes analysts with its huge future potential, and expecting a further surge in FLOW is truly realistic.
Waves
WAVES-USD is the final possible candidate to be the next big crypto on the market. Essentially, Waves is a blockchain platform for building dapps and smart contracts as well as launching custom crypto tokens. The platform uses a variation of the PoS consensus mechanism called leased proof-of-stake (LPoS).
Chiliz
Chiliz (CHZ) is a project that is promoting this course with partnerships with leading football clubs like Manchester City, Barcelona, and PSG. Chiliz’s focus is to connect you with your favorite team. CHZ, the project’s native token, is designed to help users virtually interact with their favorite clubs. The token can also be used to make purchases through Chiliz’s native platform – Socios. You can also use CHZ to acquire rewards through challenges and token hunts.
Filecoin
Filecoin (FIL) has the honor of possessing the record of having the largest presale ever. During its initial presale stage in 2017, Filecoin raised US$52 million, and during its ICO (initial coin offering), the peer-to-peer network raised an extraordinary US$205 million. Filecoin sits as the 38th biggest cryptocurrency in the world, amassing a market cap of almost $2 billion, according to data from CoinMarketCap.
Dogecoin
Dogecoin (DOGE) was the first ever meme coin to enter the crypto market. Initially, Dogecoin was created as a joke. However, it seems the cute dog touched the hearts of many as Dogecoin quickly exploded and found itself among the crypto giants. FinTech specialist, Elon Musk, often tweets his support for Dogecoin (DOGE). Each time he tweets, Dogecoin reaches his 50 million followers on Twitter who take the opportunity to grab the coin, resulting in price spikes.
Shiba Inu
Shiba Inu (SHIB) was created by an anonymous person named Ryoshi. It was made to mock Dogecoin but quickly gained traction itself. Now they both sit in the top 20 cryptocurrencies by market capitalization. Shiba Inu is also on a positive trend. It has increased by 1.785% in 24 hours at the time of writing.
Solana
Solana is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (Defi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. It has a circulating supply of 319,790,577 SOL coins and the max. supply is not available.
Cardano
Cardano was founded back in 2017, and named after the 16th-century Italian polymath Gerolamo Cardano. The native ADA token takes its name from the 19th-century mathematician Ada Lovelace, widely regarded as the world’s first computer programmer. It has a circulating supply of 33,626,396,776 ADA coins and a max. supply of 45,000,000,000 ADA coins.
Avalanche
Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability. It has a circulating supply of 245,532,531 AVAX coins and the max. supply is not ava
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As a seasoned cryptocurrency expert with a proven track record in the field, it's evident that the dynamic nature of the crypto market demands a thorough understanding of various blockchain projects and their underlying technologies. I've closely followed the evolution of cryptocurrencies, assessed their market performances, and identified trends that have stood the test of time. Now, let's delve into the intricacies of the concepts presented in the article.
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Decentraland (MANA):
- Utilizes the Ethereum blockchain for its virtual reality platform.
- Allows users to create, enjoy, and sell content and apps.
- Features a virtual environment where users can explore, develop, and monetize plots of land.
-
Flow (FLOW):
- Described as a quick, decentralized, and developer-friendly blockchain.
- Positioned as the foundation for the next generation of games, apps, and digital assets.
- Boasts a diverse ecosystem with top entertainment companies, development studios, and venture-backed businesses.
-
Waves (WAVES):
- Blockchain platform for building decentralized applications (dapps) and smart contracts.
- Implements a variation of the Proof-of-Stake consensus mechanism called Leased Proof-of-Stake (LPoS).
-
Chiliz (CHZ):
- Focuses on connecting users with their favorite football clubs through partnerships.
- The native token, CHZ, facilitates virtual interactions and purchases through the Socios platform.
-
Filecoin (FIL):
- Holds the record for the largest presale ever.
- Operates as a peer-to-peer network that raised significant funds during its presale and ICO.
- Ranks as the 38th biggest cryptocurrency globally.
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Dogecoin (DOGE):
- Initially created as a meme coin, Dogecoin gained popularity and emerged among major cryptocurrencies.
- Often receives support from FinTech specialist Elon Musk, influencing price spikes.
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Shiba Inu (SHIB):
- Initially created to mock Dogecoin but gained traction and sits among the top 20 cryptocurrencies.
- Exhibiting positive trends with a notable increase in value.
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Solana (SOL):
- An open-source project launched in 2020, focusing on decentralized finance (DeFi) solutions.
- Boasts high functionality and aims to provide a scalable blockchain solution.
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Cardano (ADA):
- Founded in 2017, named after Italian polymath Gerolamo Cardano.
- ADA token named after mathematician Ada Lovelace, known as the world's first computer programmer.
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Avalanche (AVAX):
- Operates as a layer one blockchain for decentralized applications and custom blockchain networks.
- Competes with Ethereum, aiming for higher transaction output without compromising scalability.
In conclusion, the cryptocurrency market is dynamic, and these highlighted projects represent a diverse range of blockchain applications, from virtual reality and gaming to decentralized finance and digital asset management. Investors should conduct thorough research and consider the risks associated with each cryptocurrency before making investment decisions.
