We are going to be looking at lucrative cryptocurrencies with high earning potential, this article is written at the beginning of January 2023 and is based on current market conditions.
What are cryptocurrencies with high potential?
There are several factors that can contribute to a cryptocurrency’s potential for high returns and for it to make it onto our list, the coin or token needs to meet them all.
With the recent collapse of FTX and other players like Celsius Network before them, the industry is facing a mass of regulatory changes, which will mean an end to many of the Shit coins that make up today’s crypto market and the potential to create large losses for anyone invested in them.
This, however, does not mean that there aren’t still some great opportunities out there for those of us that do our research and invest into the right technologies, and with the current market conditions, there has never been a better time to pick up some real bargains!
Let’s look at what:
Cryptocurrencies with high potential are determined by:
Now knowing what we should be on the lookout for, let’s also consider what factors would make an investment undesirable and prompt us to avoid putting our hard-earned money into it.
Cryptocurrencies with low earning potential that should be avoided are determined by:
- Lack of a unique or innovative use case
- Weak development team
- Lack of a strong user community
- Scaling issues
- Regulatory challenges
Lucrative cryptocurrencies with practical application and high-earning potential
Before investing in any cryptocurrency
Always do your own research!
With that being said, here is a list of:
10 cryptocurrencies with high potential for 2023
The cryptocurrency market is constantly changing and there are many factors that can affect the profitability of a cryptocurrency, but this does not mean you should not consider investing in solid projects and technologies. It is always a good idea to diversify your portfolio and not invest more than you can afford to lose.
Now let’s explore why these cryptocurrencies made the cut and look at:
A practical review of our top 10 high-potential cryptocurrencies
|Crypto||Jan 2023 Price||All-Time High||Maximum Supply||Crypto Type|
|Cardano – ADA||$0.26||$3.1||450,000,000,00||Decentralized platform|
|Solana – SOL||$13.05||$260||511,616,946||Decentralized platform|
|Polkadot – DOT||$4.65||$55||1.15,000,000,0||Decentralized network protocol|
|Ripple – XRP||$0.34||$3.4||100,000,000,0||Digital payment network|
|Binance Coin – BNB||$256.68||$686.61||163,280,000||ERC-20 Utility token|
|Band protocol – BAND||$1.46||$23.19||100,000,000||Decentralized oracle platform|
|Cosmos – ATOM||$10.15||$44.7||286,370,000||Decentralized utility network|
|Celo – CELO||$0.498||$7.6||100,000,000,0||Decentralized financial platform|
|Polygon – Matic||$0.80||$2.92||10,000,000,000||Cryptocurrency and network|
|Coti – COTI||$0.052||$0.68||2,000,000,000||Decentralized platform|
As you are able to see, with almost a 90% dip across the board on most of our items, it is most definitely a buyer’s market at the moment. Futures trading may be different, however, as an investment opportunity the timing is perfect to pick up some really good tokens at real discount prices.
Crypto in on itself is a volatile investment, however by selecting the right technologies and spreading your risk between them and entering into your trades at the right tume, the risk becomes substantially less!
Now let’s explore each of these high-potential cryptocurrencies to get a better understanding of where they come from and what they do!
What is Cardano (ADA)
Cardano is designed for use in the development and execution of smart contracts and decentralized applications. It is intended to be used for a wide range of applications, including financial transactions, supply chain management, and identity verification, and allows users to develop their own applications on it.
Why Cardano made the top of the list
Other than Charles Hoskinson’s impressive resume and his being one of the most well-spoken communicators I’ve ever come across, Cardano aims to provide a more secure and scalable platform for the development of decentralized applications (dApps) and smart contracts, and it utilizes a proof-of-stake (PoS) consensus algorithm called Ouroboros.
The Cardano platform is built on a layered architecture, which allows for the separation of the settlement layer, which handles transactions, from the computation layer, which handles smart contracts
This separation is intended to enable greater flexibility and scalability for the platform, which is one of our biggest value-determining factors for this list however, this is still not Cardano’s biggest strength.
Cardano is a cryptocurrency that is run by its stakeholders, it’s they who make decisions on the future of the platform, and it’s in the community that Cardano’s true value lies. As the crypto markets evolve and integrate more into our modern-day financial markets, I believe that this will become one of the most important factors for high-earning potential investments.
Finally, the current price of Cardano in January 2023 is below $0.27 per ADA, which puts Cardano 91.36% below its all-time high of $3.10, which gives it a lot of potential for growth!
What is Solana (SOL)
Why Solana made it onto the list
Just Like Cardano, Solana is also a decentralized blockchain platform for the development of decentralized applications (dApps) and smart contracts
While this was terrible for anybody who invested in Solana at the time, it presents a great opportunity for new investors. With the entire crypto market down and Solana currently trading at just above $13 per SOL, it puts Solana down around 95% from its all-time high of $260.06
Despite the crash, this makes Solana a great investment opportunity, as the fundamental technology has not changed!
Any experienced trader is aware that the market has a tendency to overreact to events, and nothing is guaranteed, it is very likely that given enough time, Solana will make a reasonable recovery due to the underlying utility of the platform!
What is Polkadot (DOT)
Why Polkadot made it onto the list
The goal of Polkadot is to create a network of blockchains that is more scalable, flexible, and secure than any single blockchain could be on its own.
One of the key features of Polkadot is its ability to process transactions in parallel, rather than sequentially like most blockchains. This makes it possible for the network to process a large number of transactions simultaneously, which makes it more scalable and efficient.
In addition to its interoperability and scalability features, Polkadot also has a built-in governance system that allows stakeholders to make decisions about the direction and development of the network. This gives it the ability to adapt and evolve over time to meet the changing needs of its users.
The current price of Polkadot in January 2023 is below $4.6 per DOT, which puts it far below its all-time high of $55, and affords it a lot of potential for recovery and growth!
What is Ripple (XRP)
Why Ripple made it onto the list
Ripple is a popular choice for financial institutions looking to make cross-border payments and exchange currencies. Its focus on compliance and its ability to facilitate fast and cheap transactions make it attractive for use in the financial industry.
Ripple continues to be a major player in the world of digital currencies and is widely used by financial institutions around the world.
The current price of Ripple in January 2023 is below $0.34 per XRP, which puts it far below its all-time high of $3.4 and affords it a lot of potential for recovery and growth, especially with Ripple’s widespread adoption and utility amongst financial institutions.
What is Binance coin (BNB)
Why Binance coin made it onto the list
BNB has a fixed supply of coins, which at 163,280,000 is substantially lower than most of the others on our list, however, its market capitalization is not any less than its competitors, proving the trust people place in it and causing it to appear overpriced compared to the others on the list.
This is however just an illusion, as it’s return is measure in dollars not cents and there is just as much profit to be made by investing in BNB, as any of the other technologies we are discussing here!
As a utility token for the Binance network, BNB is used for:
As long as Binance is around, BNB will be around, and with its current price trading around $256, compared to its all-time high of $686.61, you can tell that even during the recent market crash, it did not lose nearly as much of its value as other cryptocurrencies.
BNBs widespread adoption and utility, make it one of the most practical cryptocurrencies around, and a great consideration for a long-term investment!
What is Band protocol (BAND)
Why BAND made it onto the list
Some of the main strengths of Band Protocol are:
- Decentralized: Band Protocol uses a decentralized network of validators to ensure the accuracy and integrity of the data that is accessed by smart contracts. This makes the platform more secure and resistant to tampering compared to centralized oracle platforms.
- Fast and scalable: Band Protocol is designed to be fast and scalable, which makes it well-suited for use in a wide range of decentralized applications.
- Secure: Band Protocol uses a number of security measures to protect the data that is accessed by smart contracts. These measures include data validation, cryptographic signatures, and more.
- Flexible: Band Protocol is designed to be flexible and able to connect to a wide range of data sources, including APIs, data feeds, and other off-chain data sources.
- Wide range of use cases: Band Protocol can be used in a variety of decentralized applications, including decentralized finance (DeFi) platforms, prediction markets, and more. This makes it a potentially useful tool for developers building on blockchain networks.
Band Protocol has received funding from a number of venture capital firms and has attracted significant attention in the blockchain industry.
The current price of BAND in January 2023 is below $1.46 per BAND, which puts it far below its all-time high of $23.19 and affords it a lot of potential for recovery and growth
What is Cosmos (ATOM)
Why Cosmos made it onto the list
Some of Cosmos’s main strengths are:
- Interoperability: The Cosmos network is designed to enable interoperability between different blockchains, allowing them to communicate and exchange data with one another. This is achieved through the use of the Cosmos Hub, which acts as a hub for connecting different blockchains and enables them to share data and tokens.
- Scalability: The Cosmos network is designed to be highly scalable, with each blockchain in the network able to process thousands of transactions per second. This makes it well-suited for building applications that require fast and efficient transaction processing.
- Customizability: The Cosmos network allows developers to create custom blockchains, enabling them to build applications that are tailored to their specific needs. This allows developers to customize the parameters of their blockchain, such as its consensus algorithm, block size, and block time.
- Decentralization: The Cosmos network is decentralized, with the consensus process being secured through a distributed proof-of-stake (DPoS) mechanism. This ensures that the network is secure and resistant to censorship and tampering.
- Ecosystem: The Cosmos network has a strong ecosystem, with a large and active community of developers and users. There are also a number of projects and companies that are building on top of the Cosmos platform, which helps to drive adoption and development of the network.
The current price of Cosmos in January 2023 is below $10.15 per ATOM, which puts it far below its all-time high of $44.70.
What is Celo (CELO)
The native token of the CELO platform is a utility token also called CELO.
Why Celo made it onto the list
Some of the key strengths of CELO include:
- Decentralization: The platform is decentralized, with the consensus process being secured through a proof-of-stake (PoS) mechanism. This ensures that the platform is secure and resistant to censorship and tampering.
- Scalability: It is designed to be highly scalable, with the ability to process thousands of transactions per second. This makes it well-suited for building applications that require fast and efficient transaction processing.
- Accessibility: Celo is inteded to be accessible to anyone, anywhere, regardless of their technical expertise or financial resources. It aims to enable anyone to participate in the global financial system and access financial services, even in areas where traditional financial services are not available.
- Inclusivity: Designed to be inclusive, with a focus on enabling financial inclusion for underserved communities around the world. It aims to provide equal access to financial services for everyone, regardless of their location or socio-economic status.
- Ecosystem: With a large and active community of developers and users, it has a very strong ecosystem. There are also a number of projects and companies that are building on top of the CELO platform, which helps to drive adoption and development of the platform.
The current price of Celo in January 2023 is below $0.498 per CELO, which puts it far below its all-time high of $7.6.
What is Polygon (MATIC)
Why Polygon made it onto the list
Here are some of Polygon’s strengths:
- Scalability: Polygon uses sidechains to scale the Ethereum network, which allows for faster and cheaper transactions compared to the Ethereum mainchain.
- Usability: It provides a set of tools and libraries that make it easier for developers to build and deploy their own blockchain applications.
- Compatibility: Polygon is designed to be fully compatible with the Ethereum ecosystem, which means that developers can use the same tools and technologies to build on Polygon that they use to build on Ethereum.
- Security: The MATIC token is used to secure its network and to incentivize the participants who validate transactions and maintain it. This helps to ensure the security and integrity of the Polygon Network.
- Decentralization: Polygon is a decentralized platform that is built on the Ethereum network, which means that it is not controlled by any single entity and is instead maintained by a decentralized community of participants.
- Community support: It has a strong and active community of developers, users, and supporters who are helping to drive the development and adoption of the platform.
The current price of Polygon in January 2023 is below $0.80 per MATIC, which puts it far below its all-time high of $2.92
What is COTI (COTI)
Why COTI made it onto the list
COTI is focused on providing solutions for the payments industry and aims to enable the creation of customized payment networks and digital currencies for businesses, governments, and other organizations.
Here are some of COTI’s strengths:
The current price of COTI in January 2023 is below $0.052 per COTI, which puts it far below its all-time high of $0.68
The right exchange for the job!
The key is in their utility
Wherever possible I recommend self-custody, but using the right exchange does make all the difference! You can check out our full article comparing the top crypto exchanges, or simply consider our top picks:
With an easy user interface, high leverage, and lots of pairing options
Lots of options, including non-mainstream tokens, staking, DE-FI, and crypto cards
Our top pick for US & Canadian citizens. With lots of options and low trading fees!
Be sure to also check out our other articles on Crypto. We break complex topics into practical and neatly organized content, to save you time and help you grow!
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