We have covered in this work the best eight coins every trader must place on their watch list for the year 2023. We have selected these coins based on their excellent performance from their creation up to the present moment. We have also mentioned our most recommended exchange to buy these tokens.
Many crypto traders today agree with the position that Bitcoin has had a very large capital invested into it and that it is time to dismantle Bitcoin’s dominance in the market by splitting the capital invested into Bitcoin into altcoins to push the prices higher.
Hence we have seen in recent times a rapid in-flow of capital into many altcoins projects which had slowed down the growth of Bitcoin over the last nine months.
Of course, every crypto trader wants to make money and would always seek some insight on the most promising altcoins to place on their watch list. We have therefore provided in this work a list of eight altcoins that have performed very well since their creation which every trader needs to place on their watch list all through the year.
We have made the selection from trending groups of altcoins such as Gaming Tokens, Web 3.0, Meta Verse tokens, and Memecoins.
Meaning of altcoins
The term altcoins are used to refer to every other cryptocurrency that excludes Bitcoin. This term historically has been used to create an uneven disparity between Bitcoin and every other Cryptocurrency. The term however does not undermine the fact that other coins have outperformed Bitcoin severally in total percentage increase within the year.
Which groups of Altcoins will perform best in 2023?
Cryptocurrency traders believe that different coins perform very well only during their season. Hence traders divide coins into various groups and predict their seasons annually to know which coins to buy. The year 2023 has been observed to be the season for four groups of coins such as Gaming Tokens, Web 3.0, Metaverse, and Memecoin.
We have therefore selected at least two coins from each group which every trader must place on their watch list during this season. Before then let’s look at what these groups are.
1. Gaming Tokens
Gaming Tokens are new crypto projects that rewards users for playing their favorite games on a blockchain network. Of course, playing such a game on the network helps to strengthen its security and increase the proof-of-work done on the Blockchain; making it impossible to be hacked.
The game players are in turn rewarded with the gaming Tokens for their transactions with the network. Gaming Tokens have become a very popular blockchain project with a lot of people dedicating several hours to playing their favorite games on them.
Many investors have found the gaming tokens more reliable and bet on them, hoping for higher prices in the future.
2. Web 3.0 Tokens
Web 3.0 tokens are the latest crypto projects that have emerged as the tokens to be used for all decentralized internet transactions. Internet users have been dissatisfied with the current version of the internet which hardly grants the desired security and privacy for users’ data.
The Web 3.0 version of the internet is an upgraded and a decentralized internet that aims to conceal users’ data and other relevant information. As the web 3.0 internet version becomes wildly embraced, so also are the accompanying web 3.0 tokens which have been built on a decentralized Blockchain network.
3. Metaverse Tokens
There is a general interest in virtual realities today. People are all the more embracing the transcendental realities. Of course to transact in this virtual universe a decentralized means of exchange is needed.
This is the foundation of the metaverse tokens. Thus, the metaverse tokens are the digital currencies designed for buying and selling virtual realities. They are chiefly built on the Ethereum network. A metaverse universe is a shared virtual world where all the users can socialize, create, interact, learn, and play games.
Memecoins are popular crypto coins that have no use case. They usually originate as jokes or fun tokens and depend on popular figures to hype them for wider a acceptability. Hence they are called viral or hype coins.
Often their market value depends on the influence of its founders and promoters and the strength of the community supporting them.
Given the fact that people so much like entertainment and fun activities, many coins that were created initially as Memecoins have gained so much acceptability today, placing them almost at par with other strong crypto projects. Some have even managed to obtain good use cases today.
Eight Altcoins to watch in 2023
1. Green Meta Verse Token (GMT)
The Green Metaverse Token (GMT) is both a Web 3.0 and a metaverse token. It is the governance token of STEPN application designed to reward users for staying fit always. GMT has an in-built wallet, swap, and an NFT marketplace, together with a unique rental system that allows non-crypto users to utilize the STEPN application in the decentralized world.
This token was launched on Binance on 9th March 2023 with a total of 60,000,000 in circulation. Since then, it has jumped more than 3700% making it one of the outstanding web 3.0 and metaverse tokens launched so far in 2023, which every investor must place on their watch list at all times. This coin has today created a new ATH at $4.14602 after being listed on Binance at $ 0.01001.
2. Decentraland Token (MANA)
Decentraland (MANA) is both a metaverse and a 3D virtual reality token built on the Ethereum network which can be used to pay for virtual plots of land acquired in the Decentraland as well as other goods and services one uses in this land.
MANA token was launched in 2017 at $0.02. This coin would have attained its All-Time-High on November 25, 2023, at the price of $5.90 marking a total of 6324.4% since its launch. Many investors have since then been attracted to it and placed it on their primary watch list.
3. Sandbox (SAND)
The Sandbox is both a metaverse and gaming token. The project had created a gaming platform that allows users to create their world. This coin has a total supply of 3,000,000,000 with only 1,158,550,465 currently in circulation.
Sandbox token was initially listed on 15 August 2020 at $0.051. Since then the price has risen by 7200% reaching its all-time high at $8.4 on November 25, 2023. Investors believe that a prime place should be given to this coin on the list of coins to watch.
4. COMPOUND TOKEN (COMP)
The COMP Token is the first publicly launched Web 3.0 token built on the Ethereum blockchain which supports lending and borrowing. This coin has a total supply of 10 million and a circulating supply of 6.7 million.
The compound token reached an all-time high at $910.54 on May 12, 2023, marking a 1030% increase from its launch price of $78.58 on 16th June 2020. Many analysts believe the price is currently very low and an ideal to place on one’s watch list.
5. COTI Coin
COTI also known as the “currency of the internet” is a web 3.0 token built on the Trustchain Blockchain. This coin provides a fast means of payment that shields users from errors, fraud, and counterparty manipulations.
Hence, this coin has become the traditional coin for making payments across the internet. Coti coin has a total supply of 2,000,000,000 and a circulating supply of 1,048,141,495.22. COTI was launched on 4th June 2017, at the price of $0.68 but attained its ATH in November 2023 at $0.6940 marking an 890% increase so far.
Many believe that with the outburst of interest on the internet and web 3.0 tokens Coti remains the best coin to watch this year.
Dogecoin is one of the most successful Memecoins crypto projects that has been launched in the market. The coin gained greater popularity after the world’s richest man Elon Musk adopted it as means of payment for his company Tesla.
Dogecoin reached its All-Time last year at $0.7359, marking a total increase of 8132.88% so far from its launch price at $0.0011 on April 14, 2013. Experts believe that Dogecoin will probably the best Memecoins to watch out for the best time to buy this year, read more here.
7. Shiba Inu
Shiba Inu has become the second Memecoin after Dogecoin with the greatest community and supporters. It was created in August 2020 and prides itself today as the Dogecoin killer.
Shiba Inu has attained its all-time high at $0.00008 per token in November 2023 after its launching price at $0.00000000051 in August 2020 marking over a 15,000% increase since its launch. This coin has become the whales’ favorite coin such that most traders have been forced to place it on their watch list today.
Voxel is a popular free-to-play, 3D turn-based tactical RPG game built on blockchain. It is an autonomous ecosystem that uses blockchain technology to empower the gaming industry.
It further permits decentralized projects to use crowdsourcing to raise funds to acquire high-tech consulting services to help them create and enhance their products and in turn sell them to customers.
This coin has a total supply of 300,000, 000 and a circulating supply of 64, 021,081. Voxel token was launched in December 2023 at $0.2000. The price has hit an ATH at $6.9500 immediately inafter its launch marking over a 2300% increase so far. Many analysts believe this coin would perform wonders in 2023 and consider it a good coin to watch always.
Some Exchange to buy these Coin
The best exchange to buy these Cryptocurrencies are:
Bitcoin and Altcoins which is more profitable?
Bitcoin could be considered a good option for leveraged trading as it helps to contain the trader’s risk exposure to daily volatility.
However, when it comes to spot trading that allows no leverage, altcoins are no doubt the best options to consider as they have the highest probability of large capital in-flows unlike Bitcoin which many believe today has become overrated.
Is it a good idea to invest in Altcoins?
Good altcoins projects are easy means of making money over a short period. Investors who do not have the patience to wait for Bitcoin to complete its cycle had always considered altcoins the viable alternative to increase their capital.