Top 8 Best Altcoins to Invest in 2023
Following the crypto crash in 2022, analysts predict that 2023 will see a bull market pushing a resurgence in the value of several cryptocurrencies.
With that in mind, the next few weeks are the perfect opportunity for investors to buy some of the top altcoins in the market at discount prices.
Choosing which altcoins to pick can be a lengthy and complex choice, so this article will look at the eight best altcoins to invest in as 2023 approaches.
Metacade is a virtually hosted gaming hub that aims to become the leading player in the Web3 GameFi industry, modeled with the concept of a virtual arcade. Like-minded gamers can hang out and build a community in Metacade’s hub while discovering and earning from the best play-to-earn titles in the metaverse.
At the center of Metacade’s plans, which can be seen on their white paper, is the concept of handing power back to gamers. Its users will be rewarded with MCADE coins for playing the increasing range of p2e titles on the platform, as well as making contributions to the community itself, such as writing game reviews or holding discussions.
Staking will also be an option with holders receiving a steady stream of passive MCADE income for keeping their tokens on the platform.
Gaming developers are in Metacade’s sights too and will be offered Metagrants. These are funding packages that go towards the development of new and exciting gaming projects. Developers submit proposals that the platform’s users vote upon to determine which games they want to see become part of Metacade.
All of this will lead towards Metacade’s goal for the community to become self-sufficient with community members ultimately taking over from the core development team as the platform transitions into a decentralized autonomous organization (DAO). As a result, Metacade will be the world’s first gamer-owned gaming hub.
With the GameFi market expected to grow 10 x quicker than traditional gaming in the coming years, Metacade looks perfectly set to be a critical player in this growth. There’s every chance that MCADE will skyrocket as Metacade takes off, making it one of the best altcoins to invest in for 2023 and beyond.
>>> You can participate in the Metacade presale here <<<
2. Binance Coin (BNB)
Binance Coin remains one of the leading cryptocurrencies by market cap and is one of the most valuable altcoins on the market. Binance, the world’s largest cryptocurrency exchange, created the BNB token as a conduit for investors to receive discounts on trading fees.
In September 2020, Binance widened its offering to compete with Ethereum and provide a platform for users to conduct smart contract transactions. This proved a shrewd move as Ethereum’s transaction fees grew to unaffordable levels, which led thousands of users to move to competitors. This led to a massive increase in the value of BNB.
As a result, Binance’s Smart Chain is a genuine competitor to Ethereum, particularly in the dApps space, where it hosts more than 4,200 dApps, compared to Ethereum’s 3,500.
BNB’s excellent reputation and historic popularity have meant that it should encounter huge demand during any bull market. Don’t be surprised to see it outperform most other tokens, making BNB a must-have in the list of best altcoins to invest in 2023.
3. Ethereum (ETH)
Ethereum remains the go-to platform for many blockchain users, having managed to ride out the storm that brewed around high and unaffordable transaction fees, as well as lengthy transaction times and high energy usage with their new release.
To illustrate Ethereum’s strength, well-known names in the crypto world, such as OpenSea, Uniswap, Polygon, and Metamask, run on Ethereum’s blockchain. They are just a few of the 3,500 dApps on the platform. In addition, Ethereum is the leading DeFi platform with almost 200 projects currently live.
Many competitors at the beginning of 2021 saw an opportunity to beat Ethereum at their own game when users complained of clunky service and high costs. However, Ethereum’s swift response with its recent merge and update has reassured users and investors, keeping the platform in the top tranche of blockchain providers.
This renewal of confidence in Ethereum means that there is every likelihood that ETH will remain one of the best altcoins to invest in next year.
4. The Sandbox (SAND)
The Sandbox platform is aesthetically similar to Minecraft and Roblox with the virtual world being built out of 3D blocks. It is one of the largest projects in the metaverse. The Sandbox allows users to buy land, which provides them with the LAND token, build their own assets, represented by an ASSET token, and make games. The cornerstone of the whole experience is the SAND token.
The Sandbox was one of the first gaming-focused platforms on the metaverse, allowing users to create anything they liked using their VoxEdit (Asset creator) and Game Maker tools.
Users can sell or trade their ASSETs in the platform’s internal marketplace for SAND tokens. Meanwhile, games created via plug-and-play features in the simple-to-use Game Maker are played for free and have P2E capability.
Big names have aligned themselves with The Sandbox, including Atari, The Walking Dead, The Smurfs, Snoop Dogg and Warner Music Group, who have created a music-themed virtual amusement park. 3-D virtual gaming hubs continue to be popular with the masses, making SAND one of the best altcoins to invest in for 2023.
5. Cardano (ADA)
Cardano has emerged as a leading competitor to Ethereum’s dominance of the blockchain market and is in the top ten of most valuable crypto projects. This third-gen blockchain was launched to resolve issues with Bitcoin and Ethereum, such as scalability and security.
Cardano is unusual because it is backed by scientific research that vets each new release. Academics peer-review and agreed on each feature’s viability, which led to significant confidence in their September 2021 smart contract launch.
The final stage of the Cardano project has been named Voltaire, allowing community members voting and treasury management rights. Similarly to Metacade, the goal is for Cardano to become a fully self-sufficient DAO.
The care that goes into Cardano’s releases and its plans for an autonomous community-led future gives ADA a place on this list of best altcoins to invest in for 2023.
6. MakerDAO (MKR)
MakerDAO has established itself as the leading DeFi project on the crypto market today. The platform allows users to lend and borrow crypto finance without needing approval. All Maker users need is to prove that they can cover the collateral.
MakerDAO was a flagship project as one of the first built on the Ethereum blockchain and the first DAO ever created. This has led to transparency that doesn’t usually come with centralized banks, which Maker effectively is.
When someone uses cryptocurrency to purchase a loan, Maker issues DAI, a coin pegged to the US Dollar. Once the loan is repaid, the DAI is deleted.
Community members within Maker are responsible for setting the economy’s monetary policy and in October 2022 they voted to buy $500 million of US bonds to help diversify Maker’s DAI holdings. MakerDAO has more than $7.5 billion locked, exceeding any other DeFi project, making it number 6 on this list of best altcoins to invest in for 2023.
7. Filecoin (FIL)
Filecoin aims to revolutionize the centralized storage market, currently dominated by the likes of Amazon Web Services and Microsoft Azure, with their decentralized storage solution. With the vast global tech companies having a near monopoly on cloud-based storage, costs have been increasing year-on-year without users receiving additional benefits.
In addition, concerns over data integrity, security, and privacy, coupled with the environmental impact of continually building new data centers have highlighted the need for something new. This is where Filecoin has successfully come in.
They allow users to rent their free storage space and allow others to buy storage space they own using FIL tokens. Providers then compete to offer the lowest storage price, reducing the cost to less than 1% of centralized storage providers.
Other advantages that Filecoin provide include simple scalability and creating worldwide storage networks without building new data centers. In addition, without there being a single point of entry, the network is vastly more insulated against hacking.
Storage providers with Filecoin are increasing by approximately 20% each month, making FIL one of the best altcoins to invest in for 2023.
8. Solana (SOL)
Solana joined the ranks of Ethereum competitors when they spotted opportunities to take them on at their own game, and they have thrived ever since. Another third-generation token, the emphasis of the Solana platform is to provide excellent transaction speeds and simple scalability solutions.
Solana is unusual in that it uses a dual-consensus mechanism that is a hybrid of the traditional proof-of-stake (PoS) system and a newer proof-of-history (PoH) system.
This combination allows Solana to offer hugely improved transaction experiences and speeds compared to conventional PoS-based transactions, which Ethereum’s previous generation platform relied upon.
Although still well below the threshold that would allow Solana to compete with real-world big boys, such as Visa and Mastercard, which can handle the equivalent of 65,000 crypto transactions per second (TPS), Solana’s 3,500 TPS makes it a market leader.
However, this is only the tip of the iceberg. Over a 1GB network, Solana can handle up to 710,000 TPS. Scale this up over a multi-GB network, and the possibilities are eye-watering.
With these market-leading numbers and tremendous potential for growth, SOL is one of the best altcoins to invest in as 2022 finishes and 2023 begins.
There are several amazing options for investors looking to get involved in the crypto markets in 2023. However, none match the exciting potential offered by Metacade. The token is currently in presale with a fixed price, meaning the potential for rapid gains as it leads the GameFi revolution is enormous.
The current round of presale allows you to purchase 125 MCADE for $1 while the ninth and final will see the price rise, meaning $1 will get you 50 MCADE. Purchasing this token early is key to making quick returns and this makes it the best choice to invest in ahead of 2023.
You can participate in the Metacade presale here.
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