Cryptocurrencies for 2023: Beyond the Hype, Which Ones Make Sense?

Question

Every year, the same question arises: What are the best cryptocurrencies to invest in? And each year, the answer changes depending on the market cycle. But one thing remains constant: you need to understand what you’re actually buying.

The Classic: (BTC) and the Runner-Up: (ETH)

Bitcoin continues to be king, with nearly 48% of the crypto market invested in it. Why? Because it has what no other has: a limited supply of 21 million coins and years of adoption. It’s like digital gold—a store of value. Yes, it’s volatile, but the data speaks: over $1 trillion in the crypto ecosystem, with Bitcoin taking almost half.

Ethereum is different. ETH isn’t just a currency; it’s the fuel of the ecosystem. Most new projects are built on Ethereum—from NFTs to decentralized applications ((dApps)). It’s the developers’ favorite, and that matters.

The New Contenders: Solana and Cosmos

Solana aimed to be the “Ethereum killer.” It’s faster, cheaper. It’s had success with projects like Bored Ape Academy. The problem? It’s experienced network outages. But it remains a viable option for those seeking alternatives to Ethereum.

Cosmos takes a different approach: it aims to connect blockchains that can’t communicate with each other. It’s ambitious. If it works, the ATOM token could multiply significantly. Currently, it ranks among the top 25 cryptocurrencies by market cap.

Meme Coins Turned Projects

Shiba Inu (SHIB) started as a joke but evolved. The launch of Shibarium (its own blockchain) in August 2023 was a turning point. Now, it’s the first meme coin with a real ecosystem where developers can create applications. With a market cap of $4.4 billion, it has community support and potential.

Wall Street Memes (WSM) is the new sensation. Its pre-sale raised over $25 million. Why do people invest? They have a community of over 240,000 on X, experience with NFTs that sold out in 30 minutes, and they promise staking with passive income.

Alternative Options: Litecoin and yPredict

Litecoin is the silver to Bitcoin’s gold. Faster, more abundant, but less disruptive. It maintains its place among the top 20 cryptos thanks to years of relative stability, though its practical utility has taken a backseat compared to other solutions.

yPredict is different: it’s not a meme coin or a blockchain. It’s an AI platform for predictive trading. Its pre-sale raised $3.66 million. Launching in Q3 2023, it’s aimed at investors betting on real use cases.

The “Green” Option: Chimpzee

Chimpzee (CHMPZ) combines crypto with philanthropy: donations to save endangered animals, play-to-earn games, NFTs. It has raised $1.2 million. If you’re looking for a project with social impact, this is a good choice.

How to Choose: Two Key Questions

Long-term investment:

Is it scarce and in demand? (Bitcoin) yes, many memecoins no.
Does it have real utility? (Ethereum powers thousands of projects; Litecoin less so.)

Short-term investment:

Are you in pre-sale or recent listing phase? (Higher risk, higher potential.)
Are there upcoming positive news? (Launches, partnerships, NFTs.)

The Factor No One Mentions

Before opening your wallet: review the project’s website, read the whitepaper, verify its authenticity. Scams are common. CoinMarketCap and verified sources are your friends. And finally: only invest what you can afford to lose.

The crypto market in 2023 isn’t different from previous years: promises, hype, and some projects that truly create value. The key is to distinguish between the two.