From the heady heights of last December, the crypto market as a whole has declined. Even yet, several cryptocurrencies have historically produced positive returns for investors who were able to hold onto them and sell them during market surges. Although the present market pricing may not be ideal for sellers, purchasers have the chance to purchase some promising tokens at deeply discounted prices.
Even in a bear market, Bitcoin (BTC) still commands a high price for certain investors at about $22,000 per unit. Anyone who purchased Bitcoin for less than $6,000 in 2020 or for pennies in the beginning would still make a sizable profit during the crypto winter. However, there are a lot of interesting cryptocurrencies available today, many of which have more promise and utility than the original cryptocurrency.
Which cryptocurrencies could offer the highest returns on investment if market cycles continue to support cryptocurrency in 2023? Here are a few unique tokens you might want to add to your portfolio.
Cardano
Due to its solid foundations, Cardano unquestionably tops the list of the best altcoins to buy for long-term gains.
Even while the overall cryptocurrency market was collapsing, the price of Cardano continued to grow, making the infant asset the only shining asset amid thousands of other tokens. The cryptocurrency exceeded the 20 million transaction threshold with no downtime in more than 1500 days of operation in 2022, which was a huge driver for Cardano.
However, because to a postponement in its upcoming blockchain update, the Vasil strong fork, it has seen some downturns. However, analysts claim that because Cardano has a proven track record of implementing such technological updates, this is not an issue for the cryptocurrency.
Another factor supporting investors’ continued faith in Cardano’s long-term potential is the software upgrade process’ scholarly, peer-reviewed methodology. This has established it as a trustworthy, affordable, and sustainable blockchain, making the little mishap an excellent purchasing opportunity for investors.
Ethereum
For the remainder of 2022, analysts predict that Ethereum will provide a higher yield than Bitcoin.
Since its debut, Ethereum has dominated the cryptocurrency industry because to its distinct structure and first-mover advantage. The biggest and greatest business owners and investors in the banking and technology sectors have shown interest in and support for it.
The usefulness of Ethereum as a software network that enables developers to create and power new tools, applications, and NFTs is one of its primary defining characteristics. Ethereum is one of the top cryptocurrencies to buy in 2022 for high returns in 2023 since it has many use cases and applications in the IT industry, ranging from gaming, music, entertainment, and DeFi.
Furthermore, the much anticipated Ethereum update, The Merge, is anticipated by investors and cryptocurrency enthusiasts. Experts believe that the switch between Proof-of-Work and Proof-of-Stake will force ETH to breach the $4000 barrier once more in 2022, making it a solid investment right now.
Cosmos
One of the finest cryptocurrencies to invest in around 2022 is Cosmos, which has the potential to transform the crypto-verse and address the interoperability problem head-on.
Blockchains that can communicate with one another made up the Cosmos ecosystem. Technically, Cosmos is a decentralised network of independent parallel blockchains, each powered by the cutting-edge BFT Tendermint consensus algorithm.
Experts predict that despite ATOM’s current price of $12.85, it will soon surpass its all-time high (ATH) of $44.45 due to improvements made to the Cosmos ecosystem. On social media sites like Twitter and Reddit, the network has one of the fastest-growing online communities, which boosts its appeal.
It has also gotten simpler for smaller teams to develop on Cosmos with its most recent update, which included the Inter-Blockchain Communication (IBC) protocol and the Cosmos Software Development Kit (SDK).
Polygon
The number of NFTs and DeFi projects has increased, and this presents a significant growth opportunity for Polygon.
One of the biggest projects, Polygon, was created expressly to speed up and reduce the cost of transactions on Ethereum. With a network throughput of 7,200 transactions per second, the network is very scalable (TPS). The project provides chances for international collaboration and a sizable ecosystem that is expanding quickly.
The meteoric surge in NFT popularity that has coincided with the development of the metaverse has been a major driver of MATIC token price growth. Given that it is substantially less expensive to manufacture NFTs, Polygon is the blockchain that developers favour the most. As additional businesses are developed on the network, usage will skyrocket, making MATIC one of the top cryptocurrencies to invest in in 2022 for profitable returns in 2023.
The Sandbox
Since the metaverse is here to stay, it would be expensive to overlook future ventures like Sandbox.
The SAND token’s price has significantly decreased from reaching an all-time high of $8.44 in November 2021. However, analysts and investors are still upbeat about The Sandbox’s long-term prospects and think it may reach over $10 by the middle of 2023.
Within the Metaverse ecology, The Sandbox has established itself as a fruitful endeavour. Within the Sandbox virtual environment, assets may be bought and sold using SAND tokens. As the number of users in the virtual metaverse continues to climb over time, the amount of transactions would also considerably rise, driving the price of SAND tokens to all-time highs.
The celebrity interest in The Sandbox is also really fascinating. Popular figures like the late hip-hop icon Snoop Dogg have already claimed space on the site as their own. Other famous people have praised it as one of the greatest in the field, including DJ Steve Aoki. Sandbox will see its demand and price reach new highs as more celebrities go on board, making it one of the top cryptocurrencies to invest in in 2022 for big returns in 2023.
How Can I Identify The Upcoming Cryptocurrency?
There is no certain method to forecast which coin or token will become the next big thing in the cryptocurrency industry since it is so wildly unpredictable. There are several indications, nevertheless, that you may watch out for.
Don’t forget to read, observe, compare, and stay current on the most recent cryptocurrency news if you are just getting started with cryptocurrency investment. Being aware of the most recent developments in the sector is helpful because the price of cryptocurrencies is highly influenced by hype and demand.
In general, it is preferable to invest in a project with a basic value and more or less certain future outcomes. It should introduce a novel technology or method, address an immediate issue facing a specific crypto environment, or both.
The performance of the asset in the past must also be taken into consideration. It is preferable to invest in a project whose development dynamics over the last six or even twelve months have been primarily good. After all, this suggests that it at least has some solidity and has some bulls who support it. When selecting an investment asset, the market capitalization of the cryptocurrency and its acceptance by both seasoned investors and crypto newcomers are also very important factors.
A cryptocurrency project needs to satisfy customer demands. The majority of the time, promising ventures are the ones that present novel technology and ground-breaking remedies that address current issues and increase user profitability. Promising undertakings are concurrently straightforward, manageable, and adaptable.
Additionally, it is advised against investing in non-fundamental businesses with minimal capitalization and little market traction because the chances of your money being lost are quite significant.
Final Thoughts
Although they come with risk, investing in cryptocurrencies is one of the finest ways to ensure a prosperous future in the long term. These cryptocurrencies are the best altcoins to buy in 2022 for profitable returns in 2023 if you want to diversify your investing portfolio.
