With the crypto market witnessing unprecedented growth in the last decade, Bitcoin and Ethereum have been the most significant drivers. However, the market has also increased the scope of investment in altcoins for better returns. Here are a few cryptocurrencies expected to bring in massive returns in 2023, which you might want to check out.
Solana is gradually taking up a significant chunk of the crypto market and is expected to take over many other digital currencies in 2023. The low gas fee and the Proof-of-History consensus mechanism have not just made it popular, but the currency has also witnessed a sharp rise in its value over the last 24 hours.
Solana witnessed 1.35% growth in 24 hours and a 14.59% hike in the last week, fixing its value to $24.04. The high transaction rates of the currency indeed bring a ray of new hope for investors, indicating further growth in the current year. Not to forget, it has a 142.31% growth in annual returns, and the currency is all set to rule the crypto market.
Polygon marked its position as the second-largest blockchain gaming platform after WAX, after a sudden spike in gaming activities since March. The currency became a hot topic of discussion amongst crypto enthusiasts and experts as it marked a growth of 2.35% over the last 24 hours, with an exchange rate of $1.12.
Though the currency is subject to dynamic price shifts, losing 2.04% in the last week, it seems to have overcome the week's loss with a monthly growth of 6.16%.
With an overnight growth of 2.28%, TEZOS is currently experiencing an exchange rate of $1.11, expected to rise further in 2023. The low power consumption of the digital currency, along with its low transaction fee, are some of the constant factors which resulted in its global popularity.
However, that's not all. Tezos' latest partnership with Google Cloud, followed by its declaration of the Mumbai Protocol, has been the most significant development of the currency. Based on its recent price and collaborations, TEZOS is soon expected to reach an exchange value of $10.08 in 2023.
Though Avalanche was the worst-hit digital currency in 2022, the company's Cortina update promises to ensure faster transactions through its X-Chain support. The launch of an array of new products and dApps over the last few months have not just contributed towards a wider popularity of Avalanche but also a growth in its value. The currency seems to have come a long way after suffering a 53% loss in 2022, establishing growth of 2.38% in the last 24 hours. Placed at the current price of $28.54, Avalanche also witnessed an overall growth of 69.89% since January 2023.
Layer 0 blockchain platform Poladot witnessed rapid growth after its newest update of Polkadot Converse. The platform witnessed the most impressive gains of 5.21% in January 2023 and is expected to rise further. Currently holding a price of $6.42, Polkadot witnessed a growth of 2% over a day, maintaining a monthly growth rate of 5.21%.
The growth of various cryptocurrencies in the digital market has indeed strengthened the faltering trust of investors. While the currencies mentioned above are expected to witness significant growth in 2023, several others like Cardano (ADA), Shiba Inu (SHIB), and Dogecoin (DOGE) also display the strongest parameters for the potential to perform better. However, investors must remember the volatile nature of the crypto market and invest in diverse currencies for the best returns. In short, there's more to explore beyond Bitcoin!