While Bitcoin may have declines and trends, if you zoom out, the value has only increased. Bitcoin was first released in 2008 and has seen exponential growth since then. One bitcoin will cost over $15,000 at today’s prices (as of January 4, 2023), but just three years ago the price was just under $3,000. This kind of growth is unprecedented, and while Bitcoin may continue to grow and reach new highs, we are curious about what the next Bitcoin will be. Which cryptocurrency will explode in 2023?
Toncoin (TONCOIN)
TON was developed in 2018 by the creators of the popular instant messenger, Telegram. The project, initially named TON, is now called Toncoin and is run by a community that resurrected the project after it was dropped by Telegram in 2020. TON in Toncoin stands for The Open Network and is a proof-of-stake blockchain that has many web 3.0 services, including anonymous web browsing, decentralized storage and instant payments. Toncoin is also capable of connecting blockchains and has a searchable registry of decentralized applications and services. TONCOIN is Toncoin’s native cryptocurrency that can be used for payments in decentralized applications built on the Toncoin network. For example, TONCOIN can be used to pay for storage or a blockchain-based domain. Given Toncoin’s ambition to be one of the top Web 3.0 blockchains and its endorsement from the Telegram team, we think Toncoin could definitely be one of the next altcoins to explode. It is available on Kucoin and Gate.io.
Axie Infinity (AXS)
The metaverse is just getting started, and one of the metaverse projects that captured the world’s attention in 2021 was Axie Infinity. With Axie Infinity, players can purchase creatures called axes and complete tasks with them to earn tokens. Players can also fight among themselves for more tokens, as well as farm them and sell them on the market. Axie Infinity is a money making game that is becoming more and more popular. Players can play their favorite games and earn cryptocurrencies in return. Axie Infinity saw huge growth in 2021, but fell in 2022 along with the entire cryptocurrency industry. However, we believe that growth will continue into 2023 as more people discover and play the game. That’s why we think Axie Infinity is one of the next altcoins to explode.
Check out our guide on how and where to buy AXS in Canada here.
Polygon (MATIC)
The next cryptocurrency to explode is surely Polygon’s MATIC. With Ethereum 2.0 not yet on the horizon, we need solutions to scale the Ethereum network. Enter polygon. Polygon is a sidechain compatible with the Ethereum network. Developers can rely on Polygon instead of Ethereum itself and take advantage of lower network fees. Polygon announced that it will use zero-knowledge rollups in the future, which is an even more advanced technology. It takes transactions, combines them, and processes them as a single transaction. This will enable even more transactions per second. Polygon already has many partnerships and decentralized applications, so we believe there will be more in 2023. Ethereum requires scaling, and Polygon is the most popular solution.
Check out our guide on how and where to buy MATIC by Polygon here.
Ethereum (ETH)
Ethereum’s Ether (ETH) is the second most valuable cryptocurrency. Ethereum facilitates smart contracts and allows developers to create decentralized applications on its blockchain. While the Ethereum network struggles with high network fees due to congestion, Ethereum moves to proof-of-stake consensus mechanism. in 2023 as part of the Ethereum 2.0 upgrade. Once the upgrade is complete, Ethereum will enable cheap processing of thousands of transactions per second. Until then, we have to deal with high fees, but Ethereum isn’t going anywhere. It was the first blockchain created to facilitate smart contracts, giving it a first-mover advantage. It remains the most popular blockchain for building decentralized applications, and we believe Ethereum will continue to grow in 2023.
Check out our article “Best Cryptocurrency Exchanges in 2023” to see the best option to buy Etherium in 2023.
Crypto.com CRO
Crypto.com is a cryptocurrency exchange that has recently seen a lot of growth thanks to its marketing efforts. Crypto.com has purchased the naming rights to Staples Center in Los Angeles for the next 20 years. They also have upcoming ones Superbowl ad and they had other ads featuring famous faces. Crypto.com is a cryptocurrency exchange aimed at the average consumer, not just those who are already involved in cryptocurrencies. We think this is a bullish sign and crypto.com doesn’t seem to have any plans to slow down. Binance Coin is among the top three cryptocurrencies and we think crypto.com may want to take a look at this spot itself.
Tezos (XTZ)
The next coin to blow may be Tezos. Tezos is an energy-efficient proof-of-stake blockchain with which many partnerships have been quietly formed. In 2021, Tezos partnered with Formula 1 McLaren and RedBull teams will release collectible F1 NFT vehicles on their platform. Tezos has also partnered with game developer Ubisoft, which uses the Tezos blockchain to create NFTs in games. Tezos recently partnered with Team Vitality, an esports giant. Tezos also has many other partnerships. It also offers staking, management, very low trading fees and a solid team. We believe Tezos will continue to build on its partnerships in 2023.
Theta (THETA)
If you didn’t know, delivering high-quality streaming content is expensive for online businesses. With the rise of 4K and live streaming technology and the growing demand for streaming, costs are becoming higher and higher. As a result, streaming quality suffers. Netflix even has it he said that they are “slowing down” their services in Europe because of this. Theta is a project that allows people to share unused bandwidth with others watching the same content and receive cryptocurrency rewards. Theta already has a number of high-profile partners and investors, including Google, Samsung and Sony. It has advisers from Twitch and YouTube, and YouTube’s CEO supports Theta. Streaming is a constantly evolving space, especially live streaming, so a solution to the problem of poor streaming quality needs to be found. Theta would allow people to share resources and earn cryptocurrency in return. Theta saw significant growth in 2021 and decline in 2022, but we believe it will continue to grow in 2023.
Ripple (XRP)
Ripple’s XRP is a cryptocurrency with a specific use. It is intended to be a cross-border currency for financial institutions around the world. Transactions take just 3-4 seconds and cost almost nothing, which is why XRP is a coin that is ideal for international payments. Unfortunately, last year Ripple faced lawsuits from the SEC. The SEC claims that XRP is a security and is therefore illegally traded. Over the past year, many cryptocurrency exchanges have delisted XRP, the lawyer continues. The legal action against XRP appears to be losing support and that is why we believe XRP will win the case. After all, Bitcoin and Ethereum have already been recognized as securities by the SEC. If Ripple wins, we think the price of XRP could skyrocket when exchanges release it again.
Check out our article on how and where to buy XRP (Ripple).
