Three top performing cryptos you should know about
The crypto markets have experienced an unusual year. Prices of various cryptocurrencies have risen. But there is an on-going debate if we are in a bull market, bear market, or something in between.
Experts argue about market sentiment, smart trades are focusing on the best-performing cryptocurrencies. They are demonstrating their ability to make profitable moves regardless of the overall market direction.
Bitcoin is still leading the pack
Despite experiencing a decrease from the price level of $30,000, Bitcoin has remained one of the best-performing cryptocurrencies this year. It has shown a 65% increase in 2023. It made it difficult to find other-established coins that can surpass its performance.
However, wise investors understand the importance of diversification. They know why not to solely rely on one investment. If you wish to broaden your crypto portfolio, then three types of coins could potentially outperform this leading crypto in 2023. These three coins have demonstrated exceptional performance in 2023 and show promising signs of further growth in the future.
1) Bitget Token (BGB)
Exchange tokens’ performance is strongly influenced by the performance of the exchange that issues them. If the parent organisation is performing well, it tends to positively impact its native asset’s price.
This is precisely the case with Bitget, a popular cryptocurrency exchange specializing in derivatives trading. Its native token, the Bitget token has experienced an impressive 113% increase this year. It surpassed the growth of not only Bitcoin but also Ether in the initial quarter. It reached new record highs. Indications suggest that there is still significant potential for further growth.
Many advantages to enjoy
Holders of BGB tokens enjoy various benefits within the ecosystem of Bitget. Bitget’s success with the trading public can be attributed to its effective influencer program and constantly evolving community promotions.
As the derivatives exchange continues to gain market share and experiences growth in both spot and futures trading volumes, likely, BGB tokens will also see an increase in value. Underestimating the potential of bitget and BGB would be a mistake. BGB has the potential to double in value effortlessly this year. If the overall market sentiment turns bullish, there is no limit to its potential growth.
2) Fantom (FTM)
Fantom has undergone a significant transformation as a blockchain platform. Its new FVM represents a substantial improvement in terms of transaction speed. It also showcased reduced fees and scalability compared to the Ether virtual machine.
With the return of DeFi expert Andre Cronje leading the way, fantom has regained its momentum. It is no longer merely seen as an inexpensive Ether virtual machine alternative. Fantom is now establishing its own distinct identity. It is offering built-in functionalities for trading, lending, NFTs, and enterprise applications.
FTM needs to increase significantly
The Fantom token has shown a 105% increase in value this year. It is quite impressive. There is huge potential for further growth. FTM would need to increase by more than five times its current value just to reach its previous all-time high.
There is a strong argument for FTM to experience another two to three times increase before the end of 2023. Smart investors should seriously consider FTM as it is currently one of the best-performing cryptocurrencies in the market.
3) Optimism (OP)
After the initial excitement surrounding the airdrop of Optimism’ faded away, it was easy to guess that the best days of this token are over. But, the truth is different.
The governance token of the Ethereum layer 2 solution called Optimism is actually in the early stages of its journey. Coinbase has not only created its optimism sidechain called the base. But a16z is also joining in by implementing its version of optimism.
An important role in OP’s governance framework
All these developments are positive for OP. It is because it will have an increasingly important role in optimism’s governance system. When the base launches increased economic activity, this will have a direct impact on OP. It will be reflected in its token price.
This year is witnessing the rise of ZK networks and Ether rollups. Optimism is positioned at the center of this movement. With a 128% year till date increases OP currently holds the 67th position in terms of market capitalization. It wouldn’t be surprising if OP ends this year in the top 20 cryptocurrencies.
Important factors to consider
When making your decision on which cryptocurrency to invest in, there are a few important factors to consider:
- The processing speed of transactions
- The transaction fees
- The usability of the crypto for everyday purchases along with bank transfers.
If your goal is solely to invest and not actively engage in transactions, it’s essential to understand that Crypto is not a shortcut to quick wealth. Instead, it should be regarded as a long-term investment. For cryptocurrency investment and trading have a look at bitcoin-buyer.io.
