Bit-Galaxy Broker Forecasts a Trillion-Dollar Crypto Market in 2023

By meghana_awhale | Date: 01/02/2323

Bit-Galaxy broker James Farnworth says the craze for cryptocurrencies of late has been growing sky-high in the past few years — and it’s only going to get bigger. In 2023, the crypto industry is projected to reach the mainstream and surpass a trillion dollars in assets under management. On top of that, we’re seeing a growing number of institutional investors coming onto the scene — a sign that the crypto industry is emerging as a viable asset class for the mainstream.

So why invest in cryptos for 2023? Cryptocurrencies offer many advantages over traditional asset classes like stocks, bonds and gold. Because they’re based on the blockchain, they have the potential to offer a secure and transparent way to store, move and trade value. They also provide an array of trading opportunities with their ability to trade on short-term trends and long-term changes in value.

Crypto assets also have the unique ability to serve as a hedge against global inflation and other macroeconomic risks — because their prices are not necessarily connected to the value of fiat currency, stocks or gold. Finally, the crypto industry is ripe for innovation, meaning there may be exciting new projects that open up the industry to new levels of growth in 2023.

If you’re looking for the best crypto coins to consider investing in for 2023, we’ve got you covered. Here are 15 of our top picks to keep your eye on:

  • Bitcoin (BTC) – The leading cryptocurrency, Bitcoin was the pioneering force in the crypto industry and continues to dominate it to this day. Despite its reputation for extreme volatility, Bitcoin remains the most trusted and most used cryptocurrency.
  • Ethereum (ETH) – Ethereum is the centre of the smart contracts industry. As the leading platform for deploying decentralised applications (Dapps) and tokens, Ethereum is a logical play for 2023.
  • Polkadot (DOT) – Polkadot connects public and private blockchains, allowing them to exchange information in a secure and transparent manner. With its multiple use cases and secure, low-cost infrastructure, Polkadot is set to become the backbone of the Internet of Things.
  • Cardano (ADA) – Less well-known than some of its peers, Cardano is working to become the leading protocol for secure digital identity, with a focus on addressing financial inclusion in developing nations.
  • Litecoin (LTC) – Litecoin is a widely-used payment coin, offering faster transactions and lower fees than Bitcoin. With its recently-launched privacy features and the upcoming halving event in 2023, Litecoin is a great bellwether for the crypto industry.
  • Binance Coin (BNB) – This coin was created by the world’s leading cryptocurrency exchange platform Binance. BNB has become one of the most widely-traded tokens, and its value is expected to grow over the coming years.
  • Uniswap (UNI) – Uniswap is a decentralised exchange protocol that enables users to trade cryptocurrencies without relying on a centralised middleman. With the recent launch of its governance token, UNI is well-positioned to take the industry by storm in 2023.
  • Stellar (XLM) – Stellar is the number two protocol for building decentralised applications and digital assets, only being topped by Ethereum. Its rising popularity and robust infrastructure make it worth watching for the 2023 trader.
  • Tezos (XTZ) – Tezos is a secure blockchain platform with a strong focus on governance. With its unique formatting and decentralised voting system, Tezos is well-positioned to become the industry’s leader in smart contract platforms.
  • Chainlink (LINK) – Chainlink is an Ethereum-based decentralised oracle network connecting off-chain data to the blockchain. With its secure link to the real world, LINK is attracting a lot of attention in the crypto sphere.
  • Aave (AAVE) – Aave is a decentralised lending platform that provides secure borrowing services to all participants. With its strong liquidity, reliable payments and flexible loan terms, Aave is set to become a prime platform for global borrowing.
  • Zcash (ZEC) – Zcash is one of the most popular privacy-centric cryptocurrencies. Having become a leader in its space, Zcash is well-positioned to benefit from an uptick in demand for privacy coins in 2023.
  • Dash (DASH) – Dash is a payments coin that is popular for its fast transaction speed and low fees. It is also increasingly being used to purchase goods in its own payments network, with further expansion plans in 2023.
  • Cosmos (ATOM) – Cosmos is a decentralised blockchain protocol for building decentralised applications and creating token economies. With its growing community and innovative features, Cosmos is well-positioned for growth in 2023.
  • Ripple (XRP) - Ripple (XRP) is probably the most popular cryptocurrency amongst financial institutions and banks. Being a global payment network meant primarily to help banks; it has become increasingly popular with institutional investors as a medium of international remittance. There have been some developments in this space in 2020, which could prove beneficial to its future.

Everything considered, 2021 has been full of surprises related to cryptocurrencies and the crypto market in general. With more developments and advancements expected to come, 2023 could surely open the doors to more opportunities for investors in the crypto space. With the right decision-making and proper analysis of the data, investors can surely expect to gain healthy returns in the coming years.

Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise. We do not provide any warranties regarding the information in this website and are not responsible for any losses or damages incurred as a result of trading or investing.

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