The overall crypto markets are off to a strong start this year, but downside risks still exist due to mounting liquidity worries in the aftermath of FTX’s collapse.
We hereby present you a list of crypto assets that are helping investors to make money in 2023.
Lido DAO: So far this year, Lido DAO (LDO) is one of the top-performing large-cap altcoins. The liquid staking protocol began trading in 2023 at $0.959 and is currently trading at $1.97, a startling 105% increase in less than two weeks.
Lido was created to make it easier to invest in popular cryptocurrencies like Ethereum (ETH), Solana (SOL), and Polygon (MATIC). In addition to providing an easy-to-use platform, it allows investors to stake their assets with little initial investment.
Solana (SOL): This smart contract platform has also had a banner year. The main competitor to Ethereum (ETH) gained more than 59%, rising from $10.15 on January 1 to $16.17 at the time of writing.
Bonk Coin (BONK), a meme coin created for the Solana community to re-energize itself, has drawn a lot of purchasers to the altcoin which has contributed to Solana’s growth. Although it has subsequently calmed off, the new Dogecoin clone from Solana is still trading at a premium of 957% above its initial price.
Cardano: This is a different large-cap token that will become popular in 2023. (ADA). The smart contract protocol has risen sharply from $0.249 to $0.327 as of this writing, a respectable 31% gain in less than two weeks.
Litecoin (LTC): This peer-to-peer payment network started 2023 at $70.06 and is currently trading at $82.43, representing a respectable 17% gain thus far this year.
Binance Coin: The utility token of cryptocurrency exchange Binance, Binance Coin (BNB), has increased in value by more than 14% in less than two weeks, from $244.01 at the beginning of 2023 to its current value of $278.16.
BNB’s solid fundamentals might be part of the explanation for its comparatively high performance. BNB is a vital part of the ecosystem of Binance, a reputable and well-established exchange. BNB is also supported by a variety of well-known alliances and partnerships, which raises its stature and appeal.
Also posting descent gains is Avalanche (AVAX), a protocol for smart contracts.AVAX has risen 13.84% to start the year after bouncing from $10.98 to $12.50 as of this writing.
Avalanche: In the GameFi ecosystem, Avalanche has seen tremendous growth that could be useful in 2023. The Japanese media giant GREE revealed ambitions to create Web3 games using Avalanche.
Polkadot: Interoperable blockchain Polkadot (DOT), which rose 12.59% from $4.37 on January 1 to $4.92 at the time of writing, is also quietly printing gains. Polkadot, among other things, aspires to provide the IT framework for a decentralized web, which will have blockchain at its core in addition to other projects.
Polygon (MATIC): This scalability solution for blockchains is also moving forward. MATIC bulls are showing off their might, pushing the alternative coin from $0.768 on January 1 to $0.855 at the time of writing, an 11% increase.
Polygon (MATIC) has formed numerous alliances with industries outside of the cryptocurrency market, strengthening the expansion of Layer 2’s ecosystem, investors are placing their bets on the utility token. The long list includes businesses like Starbucks, Nubank, and Mastercard.
Ethereum: Ethereum isn’t also lagging amid significant buying pressures. Over the same period, the top smart contract protocol saw growth of almost 9%. ETH’s upcoming Shanghai upgrade, which allows users to un-stake their Ether, has likely sparked investors’ interest in the world’s most popular altcoin.
