The altcoin market is constantly evolving with new projects being released regularly. Many exciting projects are currently under development. So which ones should be at the top of portfolios for an ideal investment?
Here are the best altcoin projects that should be on your radar
Avalanche (AVAX)
Avalanche emerged as an innovative Blockchain platform for developers looking to build dApps. Unlike its larger competitor, Ethereum, Avalanche offers a faster and more scalable platform. This makes it ideal for large-scale Dapps that require high transaction speeds.
In addition, the fact that Avalanche consists of three different Blockchains makes this platform even more different from its competitors. This modular architecture gives users more control over their operations. It also minimizes fees by allowing them to join or exit specific chains according to their needs. Thus, it offers a compelling alternative to other dApp platforms as the dominant player in the market. Even after Merge, Ethereum fees are still high. However, Avalanche stands out as one of the best cryptocurrencies to buy and hold.
Phantom (FTM)
Phantom quickly gained popularity among investors and crypto enthusiasts. There is good reason for this. One of the most important features that makes Phantom different is its more advanced technology than Blockchain. Fantom’s technology provides lower fees than traditional networks like Ethereum. This is especially important for investors who are fed up with increased fees and slow transaction speeds.
Unique consensus algorithms are at the core of Phantom’s design. Thanks to the innovative Lachesis protocol, Phantom data transfer is not only fast but also reliable.
Hedera (HBAR)
Hedera is one of the lowest value altcoin projects on the market today. This is because it uses significantly more advanced technology, especially at scaling. Unlike the others, Hedera is not actually a traditional Blockchain. Instead, it uses the DAG Protocol to facilitate fast transactions and high scalability. DAG makes Hedera Hashgraph incredibly fast and efficient. It also makes it an attractive alternative to traditional Blockchains for many different types of applications.
However, one of the main criticisms of Hedera Hashgraph is that it is not really decentralized or unreliable. However, despite this drawback, Hedera is gaining confidence in shaping the future of distributed networks. On the other hand, it is one of the new cryptocurrencies that can rival traditional payment networks like Visa thanks to its high transaction speeds. Even just for this, it stands out as one of the new cryptocurrencies that can recover in 2023.
Theta (THETA)
Theta is rapidly gaining popularity in the crypto world. This innovative token offers a streaming platform that works very differently from mainstream platforms like YouTube and Netflix.
Unlike highly centralized companies, Theta decentralizes video distribution. Also, Theta helps provide fast and secure transactions. At the same time, it takes advantage of the revolutionary Blockchain technology that ensures fair payments. With so many advantages, it’s easy to understand why Theta is considered one of the best new cryptocurrencies to consider.
Dogecoin (DOGE)
Dogecoin is not a new altcoin. But the excitement around meme coins is new. Dogecoin has long been recognized as one of the most popular cryptocurrencies on the market. One of the main reasons for this is its association with breast investments. Dogecoin’s status is a nod to its origins as a parody of the rapidly growing Bitcoin community.
But beyond its humorous beginnings, Dogecoin continues to attract dedicated investors and supporters. Behind Dogecoin, we see big names like Elon Musk tweeting about it many times. Over the past few weeks, Dogecoin has been all over the news due to a high-profile legal battle that pits Elon Musk against him. The lawsuit suggests that Dogecoin is nothing more than a ponzi scheme. He blames only Musk for his fame. Whether these claims have any validity is debatable, but ultimately increased interest in Dogecoin. If the market gains momentum in 2023, Dogecoin will again become a crypto to watch, according to analysts.
ApeCoin (APE)
ApeCoin is only a few months old but has established itself as one of the best new altcoin projects to watch. APE is closely linked to the Bored Ape Yacht Club (BAYC) collection, one of the most valuable NFTs on the market. The BAYC collection features a variety of rare digital monkeys, each brimming with their own special qualities and abilities. This makes them sought after by collectors around the world.
The team behind the BAYC collection awarded the first NFT holders with APE. When APE was first released, it was automatically distributed to NFT holders via an airdrop. It enabled early adopters to take advantage of its growing value before other investors even heard of it. Indeed, APE continues to increase in value over time.
Now that the BAYC ecosystem also includes a metaverse and APE is the native token, the value of the chance will increase. As games and other virtual assets begin to populate this metaverse, ApeCoin will emerge as one of the best cryptocurrencies to hold.
Cosmos (ATOM)
Cosmos represents a new way that multiple Blockchains work together seamlessly. Providing unprecedented flexibility, stability and scalability to dapps, Cosmos aims to provide a truly decentralized alternative to the centralized internet as we know it today.
Given that blockchain technology is rapidly gaining ground in industries ranging from finance to healthcare, there is tremendous upside potential for investors. Cosmos’ strong fundamentals make it one of the best new cryptocurrencies to invest in in 2023, according to analysts.
Polkadot (DOT)
Polkadot is a new platform designed for scalability and security. Thanks to the side chain, popularly known as the parachain, it can process an almost infinite number of Dapps.
Polkadot is also gaining traction as it is compatible with Ethereum. This makes it attractive for Ethereum developers looking to migrate their projects to a larger scale blockchain. With such a high potential adoption, Polkadot appears on the list of cryptocurrencies to buy.
Terra Classic (LUNC)
Terra Classic is a relatively new altcoin project best known for its crash that hit the headlines in mid-2022. It was rejected by many in the cryptocurrency community after it crashed. However, the project aims to go back to the old days with the token burning events it supports on Binance.
Terra Classic has shown impressive resilience, especially in rebuilding its ecosystem. One of the most important ways to do this is to offer an accelerated token burning mechanism. Thanks to this burn and other initiatives, it is clear that Terra Classic truly is one of the most robust and dynamic communities in the cryptocurrency market today.
Chainlink (LINK)
Chainlink is the undisputed leader in decentralized oracles for cryptocurrency. More than 65% of the market uses Chainlink for data. Thanks to its rapidly growing dominance, Chainlink stands out as one of the newest cryptocurrencies. If the broader market turns bullish, Chainlink will gain significant traction.
Shiba Inu (SHIB)
Shiba Inu is one of the new cryptocurrencies that has made history in terms of gains recently. SHIB was just released in 2020. At the end of 2021, it provided 48,000,000% profit to investors. SHIB is community driven in its early stages, while its utility value is growing. Recently, the Shiba Inu team introduced their metaverse projects. They also recently announced that they will burn SHIB on transactions in metaverse games. As these two aspects of SHIB gain momentum, analysts expect a clearer future.
Near Protocol (NEAR)
Near Protocol only entered the market in mid-2020 and has proven to be one of the most successful new cryptocurrencies today. It came from nowhere to be the top 50 cryptocurrencies by market cap.
Near Protocol’s success has a lot to do with its abilities. It is one of several layer-one protocols that have proven themselves in terms of scalability and security. In 2022, Near Protocol struck several deals that gave it an edge as one of the top new cryptocurrencies. For example, cryptocoin.comAs you follow, Near Protocol has signed an agreement with Google to help with the Web 3.0 cryptocurrency.
Ankr (ANKR)
Ankr is a high potential cryptocurrency. The Altcoin project is a cutting-edge platform that redefines what it means to be a Blockchain network. Unlike other networks, Ankr offers a set of powerful tools that developers can use to create unique dApps, especially in the areas of DeFi and NFTs.
In addition to this, Ankr offers another innovative protocol called Ankr Earn that allows traders to stake their assets on multiple chains simultaneously. Whether you’re a dApp developer looking for advanced tools or an investor looking to maximize your returns, Ankr has something for everyone. With all these factors, ANKR is emerging as one of the top cryptocurrencies today.
