Table of Contents
Introduction
As year approaches towards end let’s see best crypto currency of 2023.Bid farewell to outdated historical accounts; the crypto arena 2023 mirrors a modern-day gladiatorial spectacle, where each digital coin assumes the role of a courageous warrior vying for dominance. It has been a tumultuous year characterized by exhilarating rallies, unforeseen crashes, and unexpected upsets. As the metaphorical dust settles, a burning question persists: who are the authentic champions, the gladiators who emerged victorious in this contemporary Colosseum of digital finance?
This isn’t a mere glance at the top 12 by market capitalization; it constitutes a strategic examination, a profound delve into the metrics that unveil the genuine contenders. Brace yourself for a comprehensive analysis that transcends the superficial.
Factors Considered for selecting Crypto Currency
We have based our study for top 12 crypto currency based on market capitalization and other factors which you will read now. These factors ensures that these cyrpto currency have stable outlook and are not fly by nite type instrument of investment. As an financial investment focus should be on instruments which gives stable and good return but also are safe enough.
Below we see important factors to select our top contentenders !
Market Cap: Imagine this as the gladiator’s biceps bulging with financial strength. Bitcoin, the undisputed heavyweight, flexes its $800 billion market cap like a diamond-encrusted shield. At the same time, Ethereum, the agile warrior, dances with its $150 billion, ready to strike.
Trading Volume: Think of a roaring marketplace where coins are the hottest weapons. Trading volume measures the gladiator’s fighting spirit and their relentless pursuit of victory. Ethereum, with its daily trading volume exceeding $10 billion, parries blows with Binance Coin, the lightning-fast champion with a $7 billion daily war chest.
Liquidity: This is your escape route, the ease with which you can sell your spoils of war. High liquidity means buyers are eager to trade. In contrast, low liquidity could leave you stuck in the arena, surrounded by fallen tokens. Imagine selling your rare Shiba Inu meme NFT – would you find a multitude of eager collectors or a desolate wasteland of silence?
Security & Transparency: In this digital battlefield, trust is your armour. Robust blockchain technology, a transparent war council, and a clean track record are your shining shield, deflecting the arrows of doubt. Cardano, the meticulously crafted fortress, stands tall, while Solana, the lightning-fast chariot, races ahead, leaving scepticism in its dust.
Future Outlook: Is this gladiator a flash in the pan or a legend in the making? Analyzing real-world weapons (use cases) and future battle plans (applications) helps us predict their destiny. Imagine Solana, powering the next-gen DeFi empire, or Avalanche, the multi-chain juggernaut conquering new frontiers – their potential as vast as the ever-expanding digital landscape.
Number of Tokens: Scarcity is the ultimate power-up. The total number of coins minted (and planned) determines the value of each token, like the limited edition gladiator helmet that fetches a king’s ransom. With its capped supply of 21 million, Bitcoin inspires awe, while Dogecoin raises eyebrows with its infinite horde.
We can identify the true champions by wielding these metrics like a skilled strategist. These gladiators will continue to dominate in the years to come.
Data points for evaluation best crypto currency 2023!
For our analysis of performance of best crypto currency 20203 following data points analysed:
- Data Source for Value of Crypto Currency: website : www.investing.com
- Hypothetical value for Investment to analyse growth of crypto coins : 1000USD
- Rank in below table is based on Market Capitalisation in descending manner for top crypto’s
- Start Date for analysis of Price of Crypto Currency: 1stJanuary2023 (closing price)
- End Date for analysis Price of Crypto Currency: 15th December2023 (closing price)
| S No | Name | Closing Price of Crypto on 15thDec23 | Market Cap on15th Dec23 | Closing Price in USD on 1st Jan23 | Closing Price in USD on 15thDec23 | Units in Holding based on 1000USD investment on 1stJan23 | Investment of 1000 USD on1stJan23 | Investment Value on 15th Dec if you Invest 1000USD on 1stjan23 | % ROI |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $42,188.2 | $825.58B | 16943 | 41929.0000 | 0.0590 | 1000.00 | 2474.71 | 147% |
| 2 | Ethereum (ETH) | $2,240.66 | $269.62B | 1263.9 | 2220.4100 | 0.7912 | 1000.00 | 1756.79 | 76% |
| 3 | Tether (USDT) | $1.0006 | $90.88B | 0.9999 | 1.0004 | 1000.1000 | 1000.00 | 1000.50 | 0% |
| 4 | BNB | $246.11 | $37.39B | 261.3 | 244.9100 | 3.8270 | 1000.00 | 937.28 | -6% |
| 5 | XRP | $0.61953 | $33.53B | 0.34412 | 0.6155 | 2905.9630 | 1000.00 | 1788.56 | 79% |
| 6 | Solana (SOL) | $74.121 | $31.63B | 13.094 | 72.5400 | 76.3709 | 1000.00 | 5539.94 | 454% |
| 7 | USD Coin (USDC) | $1.0006 | $24.63B | 1.0002 | 1.0000 | 999.8000 | 1000.00 | 999.80 | 0% |
| 8 | Cardano (ADA) | $0.6098 | $21.54B | 0.2766 | 0.6004 | 3615.3290 | 1000.00 | 2170.64 | 117% |
| 9 | Avalanche (AVAX) | $41.90 | $15.21B | 11.73 | 39.7400 | 85.2514919 | 1000.00 | 3387.89 | 239% |
| 10 | Dogecoin (DOGE) | $0.093542 | $13.35B | 0.0721 | 0.0930 | 13869.62552 | 1000.00 | 1289.88 | 29% |
| 11 | TRON (TRX) | $0.102967 | $9.07B | 0.052 | 0.1015 | 19230.76923 | 1000.00 | 1951.92 | 95% |
| 12 | Polkadot (pDOTn) | $7.097 | $8.93B | 4.665 | 6.951 | 214.3622722 | 1000 | 1490.03 | 49% |
Winner based on % ROI for best crypto currency 2023
| S No | Name | Market Cap on15th Dec23 | Price 15thDec23 | % ROI for 349 days on 15th Dec23 on Investment |
|---|---|---|---|---|
| 6 | Solana (SOL) | $31.63B | $74.121 | 454% |
| 9 | Avalanche (AVAX) | $15.21B | $41.90 | 239% |
| 1 | Bitcoin (BTC) | $825.58B | $42,188.2 | 147% |
| 8 | Cardano (ADA) | $21.54B | $0.6098 | 117% |
| 11 | TRON (TRX) | $9.07B | $0.102967 | 95% |
| 5 | XRP | $33.53B | $0.61953 | 79% |
| 2 | Ethereum (ETH) | $269.62B | $2,240.66 | 76% |
| 12 | Polkadot (pDOTn) | $8.93B | $7.097 | 49% |
| 10 | Dogecoin (DOGE) | $13.35B | $0.093542 | 29% |
| 3 | Tether (USDT) | $90.88B | $1.0006 | 0% |
| 7 | USD Coin (USDC) | $24.63B | $1.0006 | 0% |
| 4 | BNB | $37.39B | $246.11 | -6% |
Top 3 Crypto currency based on ROI
Here are top 3 crypto currency which have given higher return on investment.
- SOLANA
- AVALANCHE
- BITCOIN
Does it mean other crypto currency not worthed
For our study we have taken top 12 best cyrpto currency 2023 based on market capitalization.
There are 100’s of crypto currency in the market which must have been giving higher return on investment(ROI) then the ones in our list.
But are they stable, secure and transparent and robust to have a good future in the long run.
Any sound investment should take into account factors such as market capitalization, trading volume, liquidity, stable and transparent, number of tokens in existence etc.
Conclusion
Beyond the Hype: A Holistic Approach to Crypto Investing in 2024 !
While chasing the “best” crypto may sound tempting, remember, there’s no crystal ball. Instead of blindly chasing the hottest coin, adopt a holistic approach. Here’s how:
1. Beyond Market Cap: Don’t just follow the herd. Analyze market cap alongside other metrics like trading volume, liquidity, security, and future potential. A high market cap alone doesn’t guarantee success.
2. Use Cases Matter: Look for coins solving real-world problems, not just riding hype waves. Can this blockchain technology power efficient supply chains or revolutionize payments? Utility trumps speculation.
3. The Team Behind the Coin: A robust, transparent team inspires trust. Research their track record, development plans, and community engagement. Are they building a sustainable future or just a quick buck?
4. Data, Not Hype: Don’t get caught up in a social media frenzy. Base your decisions on data-driven analysis. Look for consistent growth, healthy trading volume, and a roadmap for future development.
5. Diversify and Adapt: Don’t put all your eggs in one basket. Spread your investment across diverse assets with different risk profiles. Be prepared to adapt as the market evolves.
Remember, best crypto currency 2023’s performers may not be 2024’s champions. By evaluating data, analyzing future potential, and prioritizing utility over hype, you can confidently make informed decisions and navigate the ever-changing crypto landscape. The key is to invest with your head, not your heart, and build a diversified portfolio for a potentially rewarding 2024 in the crypto realm.
If you are investing in crypto currency then also understand what is crypto wallet and crypto address and how it used to store crypto currency.