Cryptocurrencies most likely to explode in 2023

The 2021 bull market was one of the most important times for the cryptocurrency industry to date. The sector grew from a mere $239 billion to be worth more than $2.8 trillion within one year, showing an evidently exponential rate of growth. It not only positioned the cryptocurrency industry as one with a huge following but also created awareness around the potential of these assets. 

As a result, a huge chunk of the masses started considering the sector as a promising option and started investing. This clearly helped the prices in shooting up towards the end of 2021. However, like any other asset class, cryptocurrencies too underwent massive correction and entered the bear market. 

This wasn’t taken initially as a good sign from major institutions or investors alike. The notion of Bitcoin or the cryptocurrency industry as a whole being just a “fad” took effect again. Surely, it impacted the prices further too. But with the interest in blockchain shown by some of the biggest companies in the world like Facebook, Adidas, Nike, Samsung etc, this started changing. 

Due to this, people have come to realize that the industry is highly likely to repeat the past and explore higher price ranges in the future. Knowing this, they have been investing in projects heavily. Listed below are some such projects that have been gaining much traction and are also likely to shoot up in value due to excellent fundamentals and use cases. 

1. Tamadoge (TAMA)

Introduced in 2022 itself, Tamadoge has managed to become one of the most popular projects in the space already. It is an innovative take on blockchain-based gaming. The platform is created to host several games that will be completely integrated with the metaverse. 

Built by a team of experienced professionals, the project was soon to gain a huge community. A major reason for this was the concept behind Tamadoge. The project primarily boasts four major offerings- 

  •  NFTs- This is the easiest and best way of earning through the platform according to the developers. The project features a 21,100-piece NFT collection, which was launched on 6th October. The collection itself boasts a wide variety. These Tamadoge NFTs feature pets that can be fed and nurtured, and used for battle after a while too. 
  • Tokens- The TAMA token is the native currency of the Tamadoge ecosystem. TAMA can be used to play Tamadoge games, earn rewards and buy special items from the tamadoge pet store. 
  • Arcade- Arcade acts as the game browser for Tamadoge. It is set to release the first of many games in the upcoming weeks as mentioned on the website. This will be one of the most vital parts of the ecosystem, and will continuously be developed keeping in sync with the types of games players have been looking for in the space, the developers have stated.
  • Tamaverse- The metaverse for Tamadoge has been named Tamaverse by the developers and has been something the community has been looking forward to being a part of. While the offering hasn’t been officially released, developers ensured that they have been working on partnerships to build Tamaverse in the best way possible.

2. IMPT.io (IMPT)

Even in the presale phase, IMPT.io has managed to gain a huge community due to the concept behind it. IMPT.io, unlike many other projects that solve problems within various industries, aims to solve one that is contributed to, by the cryptocurrency industry itself- Carbon Emissions. Headed by Denis Creighton, IMPT is a revolutionary approach to helping the environment while generating wealth for investors. 

With more than 36 billion tons of annual global carbon emissions, it is natural that there is a need for projects that can help. IMPT.io is a pro-sustainability approach to help offset carbon emissions with the help of more than 10,000 brands and potential investors. 

Primarily, IMPT.io is a carbon credit program. Investors can buy IMPT, the platform’s native token and convert them to carbon credits. These carbon credits are then minted into NFTs. The IMPT.io marketplace can then be used to list and trade the carbon credits acquired previously. Now, users have an option to help further by burning the carbon credit token to compensate for the footprint left behind. On burning, investors will get an IMPT.io exclusive NFT as a reward which can be sold for profits or held. 

The project is currently in its presale phase and has already managed to raise more than $3.5 million. With the speed of growth and interest around the project, it is very likely that the token may bear high profits by the time it is launched completely in 2023. 

3. Uniswap (UNI)

While Tamadoge and IMPT.io are recently launched projects, Uniswap is one that has been around for quite a while. Created by Hayden Adams in 2018, Uniswap is one of the top decentralized exchanges in the world. It facilitates automated transactions using smart contracts on the Ethereum blockchain. 

It is backed by some of the biggest names in the crypto and finance industry like Andreessen Horowitz, Paradigm Venture Capital, Union Square Ventures LLC and ParaFi. Thus, Uniswap has managed to be the first choice for many when it comes to buying cryptocurrencies on a DEX. 

As the topic of decentralization takes further grip in the space and various Ethereum-based projects seem to become available majorly on DEXs, Uniswap may likely increase in value. At its peak, UNI, the platform’s native token was worth around $43.2. 

However, after the crash, it fell drastically, bringing prices down to the current $6 level. As a project with a massive community, Uniswap could be looking at some massive gains in 2023. 

4. Binance Coin (BNB)

This is a name almost every cryptocurrency enthusiast must have heard by now. It is the largest cryptocurrency exchange in the world in terms of volume traded. Founded by Changpeng Zhao in 2017, Binance is currently headquartered in Caymen Islands. 

BNB, the native token of Binance is primarily used to pay trading and transaction fees on the exchange. However, since the last bull run, Binance has been consistent in creating new use cases for investors that are usually very rewarding. Due to this, Binance currently boasts more than 30 million users. 

Surely, BNB is a high market cap token with one of the biggest communities already. However, with cryptocurrency still in its infancy, it makes Binance a top choice for investing. This is because Binance has already positioned itself as the top choice for any investor looking for a reputed exchange. Moreover, the project has also been building an extremely extensive network that is likely to reap massive returns once the bull market is back up again. 

 

With an all-time high recorded at around $654, BNB is one of the very few tokens to not have lost most of its value during the crash. It managed to stay at the $270 level with a market cap of more than $43 billion. In 2023, partnerships, collaborations and further adoption of cryptocurrencies may fuel the growth of BNB. This, in turn, may contribute towards surprising growth for the project.