It took a long time for only a fraction of the people on the planet to gain confidence in the concept of a digital financial system. On the other hand, there are still many who adhere to traditional methods but also those who believe exclusively in the power of bitcoin. There is no doubt that bitcoin is the cryptocurrency with the best performance at the moment and relatively stable volatility, which is why it justifiably deserves the interest of a large number of users. As the first-launched digital coin, it immediately attracted attention and has kept it to this day thanks to its good characteristics, and it has indeed made many millionaires. But, the situation has changed compared to 10 years ago, because in the meantime, many new cryptocurrencies have been launched that are worth considering. So, the time has come to ignore bitcoin for a moment and analyze what other digital currencies stand out with their good performance.
How much the situation has changed compared to the previous year, we can conclude based on research like this at www.techdee.com. Let’s take a look at the current situation.
The advantage of Ethereum over Bitcoin is its influential position. These include the ability to enable all users to build their decentralized applications. The market capitalization of this cryptocurrency experienced an expansion in the past year and increased by 60%. Also, at certain stages, the price of Ethereum was low enough, which made it perfect for all beginners in the crypto market.
Thanks to the network upgrade, Ethereum is becoming a very important DeFi product. Depending on the number of running dApps, the strength of this token is expected to increase. It also enables the realization of smart contracts as well as projects, which additionally influences the increase in popularity. All of these are reasons that indicate the possibility of establishing a fairly stable upward trajectory of Ethereum in 2023.
Ripple has long been in a well-deserved third position after bitcoin and ethereum. Tether’s expansion at one point caused it to move to third place but that didn’t diminish its importance. There is a platform that supports fast and cheap transactions of this cryptocurrency, which is why it’s supported by numerous giant companies like Moneygram. The trust of large companies is reason enough for users to believe in the survival of this digital coin and its rise in 2023.
Another reason is the excellent technology network in the background, which looks promising in terms of future cooperation with large banking systems. It smells like connecting a large number of companies with Ripple and a jump in value.
Tron is, simply put, an unusual cryptocurrency that is focused on the realization of certain projects. One of these is building a digital entertainment network. The goal of this project is cheap and easy sharing of fun digital content via a specially designed network platform. It may seem like something that doesn’t deserve much attention for a moment, but don’t rush. Considering other available platforms for the same purpose, such as Netflix, which will charge a high price for these services, this solution may seem like a cool idea.
In this way, the role of an intermediary is eliminated and each user will be able to share content directly. We could say that this is a win-win situation for both publishers and consumers. The first one will be able to lower prices, and the other will make great savings. More and more organizations are becoming interested in the Tron, which clearly testifies to the bright future of the Tron in 2023.
Compared to the currently most popular currency Bitcoin, litecoin is characterized by a much cheaper and simpler network organization. It is true that the amount of these coins is limited and that a large amount is mined, but that doesn’t diminish its wide application. One of the first big advantages is the high speed of transactions compared to some of the most popular cryptocurrencies. Also, the fees are lower than you think.
According to some estimates, thanks to the opening of the RPG “LiteBringer”, a very bright future for Litecoin is predicted. This is also concluded based on the increased number of transactions recently.
5. Bitcoin Cash
The dilemma over scalability, which has been a long-discussed topic among experts, has resulted in the creation of another blockchain. This was done to enable more transactions. Thus Bitcoin Cash becomes another favorite among competing digital coins. In the past year, a large market capitalization was achieved that meets everyone’s criteria.
Considering the rapid striving of Bitcoin Cash towards the top, this growing trend is expected to become even more expansive this year. We believe that this information should intrigue a large number of investors who will pay attention to BCH in the coming year.
Remember the smart contracts we talked about in the Ethereum paragraph? Thanks to the cryptocurrency Chainlink, their realization has been significantly simplified. Considering that, like all other contracts, these digital ones also require the use of real and valid data, the whole process seemed too complicated. To ensure the validity of the data and thus achieve all the necessary conditions for the implementation of a smart contract, the concept of Chainlink is designed to ensure the validity of the data by paying data providers in this currency. As a result, a certain trust has been gained among users, which contributes to the growing popularity of Chainlink.
7. Binance Coin
Another interesting platform that has appeared in the crypto world is Binance DEX. The subject of launching this platform is different from all the others. The mission is the decentralized purchase and sale of Binance coins but also the use of this platform to convert different currencies. The great advantage of Binance DEX is that it offers a discount when trading with the BNB on stock exchanges. This influences the increase in the popularity of the BNB and is considered to have a bright future in 2023.
We advise you to start considering these suggestions if you are new to the crypto world because you can discover the great potential of other digital coins in 2023 that aren’t bitcoin. Would you add any cryptocurrency to this list? How do you like our choice?