The bearish moment of 2022 has ended, even though there is no guarantee that crypto will survive, the market has bounced back from before.
Launching from Fool.com, here are some cryptos that have the potential to experience a significant bull run in 2023, taking advantage of trends that include decentralized finance, data storage, and digital payment solutions.
1inch Network is a decentralized exchange (DEX) aggregator. The decentralized exchange allows users to exchange different cryptocurrencies by simply connecting a crypto wallet. There is no central authority managing the exchange, and, with many DEXs, there is no need to register an account either. Other 1inch products include a limited orders protocol that allows you to set specific trading conditions and 1inch earnings, a program for earning interest by depositing cryptocurrencies into a liquidity pool.
At first glance, Ethereum may seem out of place here. It’s far from under the radar. This coin has been the second largest cryptocurrency for many years, so most crypto investors know about it, and many already own it. Even though we may be past the point where Ethereum jumps by 10,000 percent, ETH still has serious growth potential.
Aave is one of the most popular and easy to use lending protocols. Users can borrow and lend different types of cryptocurrencies. If you deposit your cryptocurrency into Aave, you will receive interest payments for lending your funds. Its unique features have helped Aave beat other crypto lending protocols. Borrowers can switch from fixed to variable rates and vice versa.
SushiSwap could be the crypto most poised to hit a bull run. Where SushiSwap supports more than a dozen different blockchains, which allows it to offer some of the most competitive rates. It is also one of the top options for staking crypto. The coin offers a wide variety of liquidity pools and makes it easy to see what percentage of annual return you can earn with each one.
Monero is the most famous privacy coin, meaning a cryptocurrency with anonymous and untraceable transactions. It uses privacy-enhancing technology so that the sender, recipient and amount of each transaction are hidden. This coin has been around since 2014, which is a long time in a market that moves as fast as cryptocurrencies. The reason for the investment being attractive now is due to the increasing regulation of crypto in many countries, including the United States.
Storj uses a crypto-based decentralized approach to cloud data storage.
Unlike traditional cloud storage providers which have their own data center, Storj allows anyone to run a storage node with unused hard drive space. When you operate a storage node, you receive payments in STORJ tokens. This makes Storj a good way to generate passive income for those with hardware that meets the minimum requirements.
7. Basic Attention Tokens
Most of us don’t mind getting paid to browse the internet. With the Basic Attention Token, you can. All you need to do is install the company’s Brave browser. This browser replaces the usual internet ads with ads that pay you in return, especially in BAT. By using Brave, you are the one who gets paid for your internet ad views, not other companies.
XRP is the native cryptocurrency for Ripple, a payment protocol that uses blockchain technology for fast and inexpensive transactions. Ripple was designed to facilitate international transfers, and has partnered with hundreds of financial institutions that use its technology. Ripple has been around since 2012, but became embroiled in a Securities and Exchange Commission lawsuit in late 2020.
That prompted most of the major US crypto exchanges to phase out XRP. The biggest problem for Ripple is the lawsuit, but XRP is still one of the biggest cryptocurrencies. When Ripple’s legal troubles are over, there is a good chance that exchanges will start carrying it again and will attract more investors.