The Next Bitcoin? 5 cryptocurrencies poised for massive growth in 2023

by James · March 27, 2023

Bitcoin (BTC) has maintained its position as the best digital asset since the dawn of cryptocurrencies, achieving massive success in price growth and adoption despite phases of volatility. This success has led other assets to seek to emulate the maiden crypto, with investors also on the lookout for the next big thing in the market.

In this regard, there are several cryptocurrencies that stand out as having a strong potential for growth in the future. Therefore, here are five cryptocurrencies that could be poised for massive growth in 2023:

Table of Contents

XRP

XRP has gained momentum in recent weeks, and 2023 is considered one of the most monumental periods for the token based on adoption and regulatory developments. The digital currency has seen a surge in adoption, with major financial institutions and banks starting to use the Ripple network for cross-border payments.

Meanwhile, the ongoing legal battle between Ripple and the Securities Exchange Commission (SEC) has been tipped to define the future of XRP. If the case is decided in favor of Ripple, the move is expected to be bullish for the token.

At press time, XRP was trading at $0.48, continuing its week-long gains. On the daily chart, XRP is up over 3%, while the token is up nearly 25% over the past seven days.

Cardano (ADA)

Cardano (ADA) is positioning itself as an ecosystem for the future, aiming to establish itself in the world of decentralized finance (DeFi) and take on entities like Ethereum (ETH). Along this line, the asset has witnessed increased development in the chain which is estimated to positively affect the price of ADA.

The importance of the development is highlighted by the number of GitHub activities involving Cardano. For example, as of March 2, Cardano ranked as the second cryptocurrency with the highest development activity on GitHub. At the same time, the launch of Djed stablecoin on the network is considered a bullish element for Cardano. ADA is changing hands at $0.35 with daily losses of around 2%.

*ADA seven-day price chart. Source: Finbold*

The Graph (GRT)

GRT is among the cryptocurrencies benefiting from the hype surrounding artificial intelligence following the initial success of chat-based tool ChatGPT. The interest has seen cryptocurrencies centered around the technology benefit greatly from forecasts of continued gains as AI technology becomes etched into daily life.

In addition to building on the AI hype, GRT, which ranks among the top 100 cryptocurrencies by market capitalization, also offers a new approach to organizing and accessing blockchain data and can be leveraged for staking, payments and revenue fees to put them into a bond curve and delegate to indexers.

The Graph network also aims to benefit from strategic partnerships such as the one established with Polygon (MATIC). During the collaboration, The Graph integrated with Polygon’s ecosystem and chose it as the basis for a new billing system.

Graphene is trading at $0.14 with weekly losses of around 10%.

Decentralized Land (MANA)

Decentraland (MANA) is among the metaverse cryptocurrencies that gained momentum in early 2023, with investors showing great interest in these assets. In fact, metaverse cryptos are unique in that they are combined with decentralized blockchain virtual realities, where users can shape the environment and control how things are done. This feature is very attractive to investors as it allows them to participate in a user-driven virtual world with decentralized governance and control.

As the metaverse scene evolves, MANA, as a cutting-edge digital resource in the space, is positioned to gain unique characteristics as an existing virtual community. This opportunity gives Decentraland an advantage over other digital companies that want to take advantage of the virtual world.

Currently, MANA is trading at $0.58, having lost over 2% in value in the last 24 hours. On the weekly chart, MANA is down 7%, with a market cap of $1.07 billion.

*MANA seven-day price chart. Source: Finbold*

Shiba Inu (SHIB)

The meme cryptocurrency has gained investor interest despite initial criticism of its lack of utility. SHIB’s potential lies in the fact that the community has rolled out initiatives aimed at making the token compete with established assets. One approach the Shiba Inu developers are taking is to accelerate token burning and upgrade the network with a layer-2 scaling solution called Shibarium, touted as a game-changer.

Shibarium’s innovative layer-2 solution has the potential to transform transaction processing by making it faster and more cost-effective. Once released, Shibarium is considered to be a significant achievement for the Shiba Inu community and the wider cryptocurrency industry.

At press time, SHIB was trading at $0.00001072 with daily gains of over 1%.

*SHIB seven-day price chart. Source: Finbold*

Overall, the performance of the featured cryptocurrencies depends on other external factors, such as the general market movement and elements such as regulations.

Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.