The year 2022 was a bad time for the cryptos market. Scandals like the bankruptcy of investment fund Three Arrow Capital, the collapses of Terra and FTX, and the 66% drop in crypto values have seriously dented investor confidence.
Indeed, the bankruptcy of the Terra project and its token the UST in May caused a cascade of bankruptcies in the crypto ecosystem as a whole.
The year 2023 is shaping up to be the year of a sustained recovery in the crypto-market with a recovery in market capitalization to $852 billion in early January 2023. So, you have decided to invest in cryptos and don’t know which one to choose? Here’s our selection of the best cryptocurrencies you can follow in March 2023.
Top 1: Bitcoin
Created in 2009 by a person answering to the pseudonym of Satoshi Nakamoto, Bitcoin is the first crypto asset. In addition to being a vehicle for institutional investment – the first ETFs on the Wall Street exchange had been approved by the end of 2021 – Bitcoin had strengthened its geopolitical dimension at the same time with its legal adoption in El Salvador.
Bitcoin was already the King of Cryptos last year and it is not about to be dethroned this year. Bitcoin (BTC) alone accounts for 50% of the total market capitalization.
If you wanted to start investing in cryptocurrencies, bitcoin should be part of your allocation. 30-50% of the quota you would decide to allocate in cryptos could definitely be invested in bitcoin.
Top 2: Ether (ETH)
Ethereum, which has been around since 2014, is currently considered the most popular blockchain. It’ s the second largest blockchain in terms of valuation with 20% of the total market value, and the first in terms of usage.
Ethereum confirmed its uptrend in the month of January 2023 by breaking through the resistance line located at $1,350 to reach the high of $1,680 on January 21.
Long-term forecasts call for ethereum to reach the $5,739 mark by the end of 2025 and then $14,412 by December 2030.
Top 3: MATIC, cryptos of Polygon
Created in 2017 by Indian engineers, Polygon/MATIC is a second-tier network connected to the Ethereum blockchain, which also enables the execution of smart contracts and the creation of decentralized applications, but with better scalability.
These scalability solutions are of interest in the cryptoasset market since the main blockchains, such as Ethereum, suffer from high transaction fees.
MATIC is the native cryptocurrency of the Polygon platform. It is used as a form of “fuel” on the platform, meaning that it is required to execute transactions and interact with the smart contracts deployed on Polygon.
Top 4: Ripple (XRP)
Ripple is a money transfer network designed to meet the needs of the financial services industry. XRP is the native cryptocurrency of the ripple network, and it is consistently among the top 10 cryptocurrencies by market capitalization.
As with other cryptocurrencies, ripple also had a good start to 2023 gaining up to 30% in the month of January 2023 to break the $0.40 barrier.
For the month of February 2023, things can go either way depending on the results of the SEC trial expected in Q1 2023. If these results go against ripple, the price could fall and positive results could push ripple’s price around $3.
Forecasts predict that XRP could see its first major rise with an expected average price of around $3 by 2024, and then reach $6 during 2028
Top 5: Polkadot (DOT)
Polkadot (DOT), which was created by former ethereum founder Gavin Wood, is an altcoin that allows developers to design special-purpose blockchains as spokes connecting to the main polkadot blockchain hub.
According to the technical analysis of polkadot prices expected in 2023, the minimum cost of polkadot will be $9.33. The maximum level that the DOT price can reach is $11.08. Crypto experts expect an average DOT rate of $7.20 in February 2023. Its minimum and maximum prices can be expected at $6.51 and $7.41, respectively.
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