Despite the widespread bearish sentiment in 2022, the crypto world is bracing up to welcome 2023 with open arms. As of November 2022, there are over 21,800 cryptocurrencies in existence. Choosing the right altcoins to invest in that fits your investment needs can be really challenging. But don’t worry, below we have listed 5 altcoins that are all set to become the best altcoins in 2023. Let’s have a look!
Dash 2 Trade (D2T)
Dash 2 Trade is a cryptocurrency analytics platform designed for traders by traders. Dash 2 Trade gives you trading signals, social analytics, and on-chain data to help you maximize your profits. In less than a month, the project raised more than $7 million and is quickly becoming one of the most popular investments in the crypto environment. Dash 2 Trade gives its users the option to create their own trading strategies.
Dash 2 Trade analytics dashboard runs on the Ethereum blockchain. The D2T token, which adheres to the ERC-20 standard, is the project’s native coin. D2T is a utility token. It provides its holders with a robust range of benefits. It also includes access to the Dash 2 Trade terminal. Its total supply is capped at one billion tokens.
The D2T token will be used for dashboard subscriptions and will be required to access various dashboard features. D2T token holders will have access to a comprehensive set of crypto signals and analytics tools to help them maximize their trading opportunities. This includes on-chain metrics, social sentiment, and crypto signals powered by technical indicators and Quant developers.
Polygon (MATIC)
Polygon is a layer 2 scaling solution. It aims to provide a variety of tools to help improve the speed, cost, and complexities of blockchain transactions. Using the Ethereum blockchain, the Polygon platform connects Ethereum-based projects. Users experience an increase in their blockchain project’s flexibility, scalability, and sovereignty using Polygon. The platform offers all these features while also maintaining the Ethereum blockchain’s security, interoperability, and structural benefits. Polygon-based NFT sales have increased by 191% since the end of September. It is the best result of any blockchain this year.
Polygon’s native cryptocurrency is MATIC. It is a token that adheres to the ERC-20 standard. MATIC can be used to pay network fees, stake in the Polygon network, and govern it. This means that MATIC holders have the ability to vote on Polygon changes.
The total supply of MATIC is capped at 10 billion tokens.
Aave (AAVE)
Source: Hacking Distributed | Flash Loan
Aave is a DeFi lending protocol. It allows people to lend and borrow cryptocurrency without the involvement of any intermediaries. The platform is unique in that it pioneered the use of flash loans. These are uncollateralized loans that must be repaid in a single block transaction. These can be used when a user discovers an opportunity to purchase a token, immediately sell it for a profit, and then repay the borrowed funds.
AAVE is the Aave protocol’s native governance token. It follows the ERC-20 standard. Holders of the Ethereum-based cryptocurrency can debate and vote on proposals that affect the project’s direction. The release of AAVE introduces a new concept known as the ‘Safety Module.’ It protects the system from a capital shortage. This means that if there is insufficient capital in the protocol to cover the lenders’ funds, the AAVE in the Safety Module will be sold to cover the deficit. AAVE holders also enjoy the privilege of reviewing loans even before they are released to the general public.
Calvaria (RIA)
Calvaria: Duels of Eternity is a new crypto game where players can collect and play NFT battle cards. This exciting new game is available in both crypto and free versions. The free version allows users to experience all of the fun Calvaria (RIA) has to offer while also learning how the crypto version works. There will also be NFT collections that allow players to interact with the game’s economy and mechanics, and these tokens provide owners with a strategic advantage in the competitions in which they compete.
Calvaria’s native RIA crypto token is critical to the Calvaria ecosystem. It is widely regarded as one of the best-emerging cryptocurrencies at the moment. Investors can earn passive income by staking RIA to the blockchain. In the Calvaria DAO, only RIA stakeholders have the right to vote. The project’s distinct vision has aided it in forming alliances with well-known industry players such as KuCoin, Gate.io, XT.com, and others. There are 1,000,000,000 RIA tokens available, with 30% reserved for the presale. Through its ICO, RIA raised more than $2 million.
Cosmos (ATOM)
Cosmos is a network and tool ecosystem for building interoperable blockchains. Its main chain, Cosmos Hub, serves as a central ledger for Zones of compatible blockchains. Cosmos manages over $151 billion in digital assets. It is the first entirely free platform to enable interoperability between various systems (like Binance Chain, Terra, and Crypto.org). The Cosmos SDK is a cutting-edge blockchain framework that powers the Cosmos Hub and its rapidly growing orbit of sovereign chains. Developers can use the SDK to create innovative applications that generate value by exchanging data with the Cosmos Hub.
Cosmos’ native coin is ATOM. ATOM was distributed through an ICO. It has no supply limit. This just adds to its increasing popularity. This is because Tendermint Core rewards stakeholders with newly minted ATOM. Based on the amount staked and the number of stakers, the inflation rate adjusts in real-time. ATOM has seen significant gains since its inception, accounting for a nearly 600% increase in value. Staking ATOM is a necessary step in contributing to the Cosmos ecosystem’s economic security and governance.
Conclusion
So this was our list of the 5 best altcoins in 2023 you need to watch out for. When it comes to investing, savvy investors understand the value of looking beyond the market’s top projects. Because of their already significant size and popularity, these large-cap coins frequently have a low potential for growth. Smaller altcoins, on the other hand, have enormous upside potential because they are still relatively unknown and less crowded with investors and traders. When selecting a token, consider the type of blockchain it is based on, as well as the project’s usability.