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HomeTop 10 Altcoins That Could Make You a Fortune in 2023

Top 10 Altcoins That Could Make You a Fortune in 2023

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With predictions of a crypto bull market in 2023 rising, now is the perfect opportunity to pick up some of the very best altcoins the market has to offer at a significant discount. We’ve scoured the market to come up with a list of the best altcoins to invest in for the impending bull market to help you decide on which ones you should add to your portfolio.

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In this article, we’re breaking down each of our choices for the top 10 altcoins that could make you a fortune in 2023. Let’s dive in.

1. Metacade (MCADE) – The Best Overall Choice

Metacade (MCADE) is a community hub that’s aiming to be the beating heart of the GameFi industry, a market that’s expected to grow at 10x the rate of traditional gaming according to a recent report by Crypto.com. It’s a place for users to go to link up with like-minded gamers, discover and earn more from the best Play2Earn games, and influence the future of gaming.

Metacade has big plans to disrupt the centralized gaming model by putting value back into the hands of the players. For one, Metacade rewards its users with the MCADE token for the contributions they make to encourage players to share their thoughts and expertise, turning the platform into the ultimate GameFi resource.

Moreover, Metacade is launching Metagrants, a way for players to allocate MCADE tokens to the developers of the latest Play2Earn titles they’re most passionate about. Eventually, Metacade plans for its virtual arcade to be packed with only the very best titles, as chosen and backed by the gaming community.

Once Metacade’s development is finished and the community becomes self-sufficient, the core team will step back and turn the platform into a decentralised autonomous organisation (DAO). After this point, each key decision will be put to a referendum for the community to vote on, turning Metacade into the world’s first player-owned arcade.

Because of the growth that we can expected from GameFi over the coming decade and Metacade’s ambitious plans to play a vital role in this growth, MCADE is looking to become a valuable asset. With all that in mind, we’re crowning it as the king of the top 10 altcoins to invest in for 2023.

2. Ethereum (ETH)

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Ethereum (ETH) takes the number two position on our list of the top 10 altcoins for a very good reason. It’s currently the second-largest crypto by market cap, and the most valuable of all top altcoins. Since its launch in 2015, Ethereum has set the standard for smart contract platforms. It was one of the pioneers of these trustless contracts, and its position has been unshakeable ever since.

Many of the incredible crypto trends we’ve seen over the past few years have primarily used Ethereum to function, like NFTs, DeFi, and dApps. Right now, there are over 3,500 dApps running on the Ethereum blockchain, with names like OpenSea, Uniswap, Metamask, and Polygon all developed using the Ethereum blockchain, according to DappRadar.

With the recent Ethereum merge promising to fix the issues that the many Ethereum rivals were created to solve, like slow transaction speeds, high transaction fees, and energy usage, it’s likely that it will retain its dominance as one of the best altcoins to invest in.

3. Binance Coin (BNB)

Binance Coin (BNB) is the fourth-largest crypto by market cap, and excluding Tether, is the second most valuable altcoin. Binance Coin was initially created by the world’s largest exchange, Binance, to offer trading discounts for users paying transaction fees in BNB. But in September 2020, Binance launched the Binance Smart Chain, a competitor to Ethereum’s smart contract platform.

As the crypto bull market took off in 2021, Ethereum’s fees grew to unbearable levels. Even in February 2021, Ethereum fees were costing, on average, around $17, according to Messari. This led to developers flocking to rival chains with lower fees, and at this point, Binance Smart Chain took off. Because BNB was needed to fuel these new projects, the price of BNB rose tremendously as demand increased.

Now, Binance Smart Chain is a potent contender to Ethereum. While it pales in comparison to Ethereum’s 191 DeFi projects, with only 38 built on the Binance Smart Chain (DeFiPrime), it has over 4,200 dApps compared to Ethereum’s 3,500.

Above all, BNB often sees increased demand during bull markets, outperforming many other tokens. For these reasons, it’s easy to put Binance Coin at number three on our list of the top 10 altcoins.

4. MakerDAO (MKR)

MakerDAO (MKR) is the leading DeFi project on the market today, sitting at number 57 on the list of top cryptocurrencies by market cap. At its core, Maker allows users to lend and borrow crypto without the need for a centralised authority; as long as you can cover the collateral, you can borrow. It was one of the first projects built atop the Ethereum blockchain, and was the first DAO ever created.

What sets MakerDAO apart from other DeFi projects is that it functions almost like a central bank, except it’s completely transparent. Maker issues its own dollar-pegged stablecoin, DAI, whenever someone locks up crypto to receive a loan and destroys it when the loan is paid back.

Without getting into too much detail, the MKR token is used alongside ETH to maintain a peg with the US dollar. When this peg is tight, the value of MKR increases. When the peg deviates, the supply of MKR increases to balance everything out. In essence, there’s an incentive to keep everything running smoothly.

The DAO is responsible for setting the monetary policy of the Maker ecosystem. For instance, in October 2022, they voted to diversify Maker’s DAI-backing holdings by buying $500 million in US bonds. In terms of total value locked, MakerDAO has over $7.5 billion locked which is more than any other DeFi project. That’s why it’s number four on our list of the top 10 altcoins.

5. The Sandbox (SAND)

The Sandbox (SAND) is a 3D virtual world built using the Ethereum blockchain and is one of the largest metaverse projects on the market today, ranked at number 48 of the most valuable crypto projects by market cap. The core premise of The Sandbox is that you can buy land, represented by the LAND NFT, and build games and experiences on it for others to play while monetizing your creations with the native SAND token.

What sets The Sandbox apart is the focus on metaverse gaming. Unlike Decentraland (MANA), the other leading metaverse project, The Sandbox offers tools like VoxEdit and Game Maker for players to create almost anything they like. Unique objects can be built in VoxEdit and stored as ASSET NFTs to be sold on for SAND or used in the Game Maker. The Game Maker vastly simplifies game development with plug-and-play features, like battle mechanics, dialogue, and camera templates, that allow anyone to build games without knowing a line of code.

These features have already attracted some big names to The Sandbox’s metaverse, like Atari, Warner Music Group, The Walking Dead, and even The Smurfs. Given the success of similar games, like Roblox and Minecraft, The Sandbox ranks at number five in our list of the top 10 altcoins.

6. Filecoin (FIL)

Filecoin (FIL) is a decentralised storage solution that aims to transform the centralised storage market, currently sitting at number 37 on the list of top cryptos by market cap. Companies like Amazon Web Services and Microsoft Azure currently dominate cloud storage with an effective monopoly that seems to cost users more and more every year without offering much extra value. Couple that with the loss of data control, security and privacy risks, and the environmental impact of constantly building new data centers, and there’s a clear need for change.

Filecoin allows users to rent out their free storage space while allowing anyone to buy storage space using the FIL token. Providers compete to offer the lowest-priced storage, which brings the cost down significantly. In September, CoinTelegraph reported that Filecoin’s storage price was just 0.5% of traditional centralised providers. Filecoin also means that file storage can easily scale, using existing resources to create a global storage network. And because there is no single point of attack, the network is much harder to hack.

With the number of storage providers growing by 20% each month, according to Coindesk, Filecoin is an excellent investment choice, coming in at number six in our list of the top 10 altcoins.

7. Cardano (ADA)

Cardano (ADA) is one of the leading Ethereum competitors on the market today, and is consistently touted as one of the best altcoins to invest in. Right now, it holds the number eight spot in the list of the most valuable crypto projects. It’s what’s known as a third-generation blockchain, launched to solve issues like scalability, security, and interoperability that plague the Ethereum and Bitcoin blockchains.

Cardano is one of the only cryptocurrencies backed by scientific research. Every new feature is peer-reviewed and agreed upon by academic figures before implementation, and with the launch of smart contracts in September 2021, it poses a serious threat to Ethereum’s dominance. Cardano is developed in stages, with each stage solving a specific problem. Currently, Cardano is in its fourth stage, which aims to significantly improve scaling on the network.

The final stage is Voltaire, which will bring voting and treasury management to the Cardano network. Once complete, Cardano, like Metacade, will be entirely maintained by the community as an entirely decentralised network. Because of Cardano’s attitudes toward peer-reviewed research and its plans for a decentralised future, it’s coming in at number seven on our list of the top 10 altcoins.

8. Solana (SOL)

Solana (SOL) is another Ethereum rival that allows developers to use smart contracts to build upon its network. It’s another third-generation token and places a significant emphasis on transaction speeds and scalability. It’s currently the ninth most valuable crypto project by market cap.

Solana uses a hybrid consensus mechanism, combining proof-of-stake (PoS)  with a proprietary system known as proof-of-history (PoH). Explaining PoH would go beyond the scope of this article (you can read more on Solana’s website), but just know that it greatly improves transaction throughput compared to traditional PoS networks.

To compete with traditional payment processors like Visa and Mastercard, crypto networks would need to be able to handle 65,000 transactions per second (TPS). Even after the merge, Ethereum can only handle around 30 TPS, according to ethtps.info. Solana handles around 3,500 TPS without breaking a sweat. In theory, Solana can handle up to 710,000 TPS on a standard gigabit network. On a 40-gigabit network, Solana can perform up to 28.4 million TPS, as stated in Solana’s documentation.

As of October 2022, there is no other blockchain that can boast these numbers. For this reason, Solana takes eighth place in our list of the top 10 altcoins as one of the best altcoins to invest in.

9. Polkadot (DOT)

Polkadot (DOT) is another third-generation crypto project that aims to solve the issue of interoperability that faces the majority of blockchains today, effectively allowing different blockchains to communicate and transact with one another. It’s currently number 11 on the list of top crypto tokens by market cap.

Polkadot uses parachains to create what is essentially a network of networks. Parachains are their own PoS blockchains that are run independently of the Polkadot blockchain. They connect to the Polkadot network using a relay chain, which allows the parachain to benefit from the security and scalability of the main network. Bridges are then used to allow external networks to interact with one another through the Polkdadot ecosystem. If you’re interested in learning more about how Polkadot works, CoinTelegraph has an excellent beginners guide to help you get started.

While it might not be the most glamorous token, Polkadot is providing the critical infrastructure needed for crypto to reach mainstream adoption. Given that it only launched in May 2020 and has achieved a peak market cap of almost $18 billion, it’s a strong contender for the ninth spot on our list of the top 10 altcoins

10. Shiba Inu (SHIB)

Finally, we have Shiba Inu (SHIB), the meme token rivalling the OG, Dogecoin (DOGE). While Shiba Inu might not provide as much utility as the other tokens on our list of top altcoins, it certainly proves that, with a strong community behind a project, anything is possible. After rocketing in 2021, it’s currently at number 13 on the list of the top crypto coins by market cap.

According to its founder, Ryoshi, Shiba Inu started as an “experiment in decentralised spontaneous community building.” And during the meme token mania of 2021, it quickly rose to deliver its almost 500,000 loyal supporters massive gains.

What started out as an experiment has grown into a fully-fledged ecosystem, complete with a decentralised exchange, arts incubator, games like Shiba Eternity, and even an NFT project. Given the number of fans still devoted to the Shiba Inu cause, the next bull run could see another surge in SHIB’s price. For this reason, it’s coming in at number 10 in our list of the top 10 altcoins to buy for 2023.

The Winner in Our List of Top 10 Altcoins: Metacade (MCADE)

While there are many fantastic projects on this list, none of them compare to the investment opportunity Metacade presents. Given that the token is still in presale, the potential for Metacade to soar rapidly as it rides the incoming GameFi tidal wave makes it the out top choice out of all of the best altcoins to invest in.

You can participate in the Metacade pre-sale here

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