Fastest growing cryptocurrencies to watch in 2023

It’s another great year for crypto investors because 2023 shows massive potential in the blockchain market. Trends for both old and new are bound to skyrocket once again as Bitcoin is rearing a new all-time high. Experts have listed many fast-growing crypto all investors and traders alike should watch right now.

The list can be extensive because there are so many altcoins and tokens that deserve your attention. If you are a generalist in the blockchain industry or a newcomer investor looking for the best entryway asset, then you should focus on the most popular ones. 

Determine the top digital assets by market capitalisation and daily trade volume then find which ones are fast growing from this list. 

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Top 7 prospects this year

Each of the seven fastest growing cryptocurrency below is chosen because of their recent market trends. They’ve shown either a spike in the charts or a consistent escalation starting from the beginning of 2023. Here is a list of the fastest growing crypto and where to trade it:

Ethereum (ETH)

Right now, the network that excites everyone the most is Ethereum (ETH). It’s a layer 1 blockchain with the most intensive protocol for supporting smart contracts and decentralised apps. Thus, it is easily the leader for development in Web3.0 and Metaverse industries. 

Not to mention that Ethereum just moved to a new mainnet called The Merge in September 2022. It changed the network from the energy-demanding proof-of-work (PoW) to the more conservative proof-of-stake (PoS) consensus system. The decision alienated miners in favour of staking but it welcomed more investors, giving the network better funding from its community. 

Bitcoin (BTC)

On the topic of crypto growth, none is more fascinating than the speculations surrounding Bitcoin for 2023. It’s a year away from its 4th halving, lowering its mining reward from 6.25 BTC per block to just 3.125 BTC per block. This means that the supply will be significantly lower to cement a cyclical floor for the crypto. 

Besides its halving, Bitcoin is also the crypto with the most growth potential in the market and experts speculate that it’s rallying for a new all-time high this year. The market price for BTC rose by roughly 80% between the start of 2023 and mid-April, allowing it to reach $30,000 (€27,355). Given that the currency breaks its record after every halving, it’s safe to say that 2023 to 2025 will be consistently bullish. 

Cardano (ADA)

Ethereum has a few rivals in its development including Cardano which aims to have the same smart contract functions. Previously known as a potential ‘Ethereum Killer’, this network moved away from that target and formed its own community. Now, it has interactivity with multiple other networks, allowing it to contribute greatly to the crypto industry. 

ADA is one of the cheapest tokens you can invest with market value being less than a United States dollar (USD). However, it can show significant price increases over time. As a testament to this, the difference between its 2017 price was €0.018 and it reached €0.40 mid-April 2023. That was a more than 2,000% increase in the span of 5 years. 

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Solana (SOL)

Decentralised finance (DeFi) was the focus of blockchain technology once upon a time and Solana was among the leaders of the industry. This resulted in SOL having one of the biggest price jumps from its release in 2020 at €0.7 to more than €23 this April. 

That is a roughly 3,000% increase in just three years. Experts forecast that the token can reach just short of €45 in Q3 of 2023, specifically between $40 to $44.6. That is nearly twice SOL’s current market value in such a short time, making immediate investments ideal for traders. 

Polygon (MATIC)

Polygon is a layer-2 blockchain solution like Ethereum and Cardano but with a heavier dedication to supporting decentralised applications (dApps). It is also relatively popular with 7,000 applications, resulting in high trade rate and rapid market fluctuations. 

Unlike the previous options, MATIC has dropped in market price from the start of the year and is experiencing a bullish trend after peaking in February 2023. That said, analysts speculate that it is showing signs of rubber banding near €1, showing a healthy sign in trades. It can be seen raising its floor by 70% at the end of the year.

Cosmos (ATOM)

Cosmos is not exactly one of the best growing cryptocurrency for this year but it is a great long-term investment if bought now. As a platform for interconnecting blockchain into one big ecosystem, it has a huge part in interoperability among crypto networks. ATOM is speculated to increase its average price by €5 to €10 per year starting in the last quarter of 2023 at €12 to €14. It has shown a consistent upward trend for the past months and it’s expected to continue for a few more years. 

Audius (AUDIO)

Just like ATOM, Audius is showing a consistent bullish trend that experts speculate will continue up to 2026. There will be down times but a new floor is expected to increase by at least €0.1 per year. Audius is a blockchain-based streaming platform and AUDIO is the ERC-20 token used to compensate for artists’ works. With the way Web 3.0 is developing, it can be the new standard for entertainment in the next few years.

Expand your portfolio by investing in more than one crypto at a time

There are many other rising crypto in the market that you can look into as these are only the top of the market trends. The fun part of exploring these options is knowing that you can invest in more than one simultaneously. 

You just need to learn how to build your portfolio to find the optimal asset allocation. If you can’t find the time to research, then try copy trading at exchanges. You can follow market decisions of the biggest crypto gainers while you sit back and enjoy winning more Bitcoin from Gamdom casino games.

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Words: Clarence Clarke