With prices near pre-2021 bull market lows, now is the ideal time to start hunting for the best crypto projects that have the potential to rocket in 2023. However, finding these gems can be harder than it seems. In this article, you’ll discover what experts believe could be six of the best cryptocurrencies to invest in right now and why they could be the perfect additions to your portfolio.
1. Metacade (MCADE): The Home of Play-to-Earn Gaming
Metacade is a community-centric virtual arcade that’s striving to be the ultimate destination for play-to-earn (P2E) gaming in Web3. At its core, Metacade is a community hub where you’ll be able to link up with fellow gamers, earn rewards for contributing to the community, and compete for your chance to win MCADE tokens. But beyond that, Metacade is launching a number of incredibly exciting features, like the Metagrant.
Metagrants are a way for the community to directly fund the development of games on the platform. The process works in a similar way to Kickstarter, but with a twist. Instead of giving money to any old project, users vote on the ideas they believe have the most potential in one of the Metagrant competitions. The project that receives the most votes is awarded funds from the Metacade treasury, with the finished game being added to its virtual arcade.
While the concept of community-driven financing isn’t new, its application to P2E has the potential to be groundbreaking. With P2E still in its infancy, community-developer engagement is vital for the industry's growth. Metacade is one of the only solutions on the market that offers players the ability to directly shape the future of P2E, and this alone could drive thousands of gamers to the platform.
The deal is likely to be sweetened by the fact that users can earn rewards simply by interacting with the community. For example, Metacade pays out MCADE to anyone sharing reviews, tips, and other game-winning content. This is all part of Metacade’s mission to become the number one place for learning about and earning more from P2E gaming.
The earning opportunities don’t stop there, however. You’ll also be able to try your luck in regular prize draws, go head-to-head in tournaments, and even find work on the platform. In 2024, Metacade will roll out its job and gig board, where you’ll find exclusive openings working with some of the leaders of Web3. Whether you’re a games tester, artist, programmer, or content creator, you’re bound to find a position that suits your skills with Metacade.
All of these features haven’t gone unnoticed by crypto investors. Recently, Metacade has been showcased in many “best crypto” lists, which has driven a flood of buyers toward the MCADE token presale. In the first three weeks of presale alone, Metacade attracted almost $1 million in investment, and this number is expected to rise to over $3 million by the time it launches to the public. With P2E likely to be one of the fastest-growing markets on the planet in 2023, Metacade is forecast to outperform this year, making it the number one best cryptocurrency to buy right now.
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2. Ethereum (ETH): The World’s Leading Smart Contract Platform
Ethereum is an open-source smart contract-enabled blockchain and the second most valuable cryptocurrency on the market. It provides the critical infrastructure for thousands of decentralised apps (dApps), decentralised finance (DeFi) projects, and non-fungible token (NFT) collections. According to Bankless Times, over 117,000 smart contracts were deployed on Ethereum in 2022 - more than any other network.
Despite its dominance, Ethereum hasn’t been without criticism. In the past, many have pointed to its slow transaction speeds, high gas fees, and excessive environmental impact as reasons to avoid investing in ETH. These negatives led to the rise of “Ethereum killers,” or rival smart contract platforms that avoid these issues, but none have (yet) been able to knock Ethereum from its top spot.
This is, in part, thanks to the ongoing Ethereum transition from proof-of-work (PoW) to proof-of-stake (PoS). The most exciting aspect of this upgrade is the implementation of sharding, expected sometime in late 2023. Sharding is expected to boost Ethereum’s transaction speeds from around 15 transactions per second (TPS) to 100,000 TPS, paving the way for more use cases and wider adoption. For that reason, Ethereum is one of the best cryptocurrencies to invest in right now.
3. Polygon (MATIC): A Layer 2 Solution Favoured by Brands
Polygon is a network that extends and supports the Ethereum blockchain. It’s what’s known as a Layer 2 solution, designed to reduce transaction fees and network congestion while maintaining access to the features of Ethereum. Polygon is effectively an add-on layer to Ethereum rather than its own separate network.
This innovation hasn’t gone unnoticed in the crypto space. Polygon has maintained its position as one of the best crypto projects out there and has even attracted some of the world’s biggest companies looking to launch scalable NFT collections. Meta, for example, announced its plans to integrate Polygon-based NFTs into Instagram, while Coca-Cola, Reddit, and Starbucks, have all used Polygon to make their foray into the NFT market.
Additionally, Polygon has now overtaken BNB Chain in terms of the number of DeFi projects built on its network. While Ethereum still reigns supreme, powering 178 DeFi projects, Polygon has 61 using its ecosystem compared to BNB Chain’s 39 (DeFiPrime). Overall, Polygon has been one of the standout projects of 2022 and looks set to continue its success in 2023, making it one of the best cryptocurrencies to invest in.
4. Binance Coin (BNB): A Versatile Utility Token
Binance Coin is the native cryptocurrency of the world’s largest exchange, Binance. Initially launched as a simple way to offer trading fee discounts, BNB has grown to become one of the most versatile coins in the space. It can be used to pay for hotels and flights, make credit card payments with the Binance Visa card, and access exclusive token sales on the exchange’s Launchpad.
Most significantly, it’s the backbone of BNB Chain, a smart contract platform that’s arguably Ethereum’s biggest rival. BNB Chain is home to a fast-growing number of dApps and has been the blockchain of choice for those looking to build scalable, low-cost projects. In fact, the number of dApps built on BNB Chain has actually overtaken Ethereum. According to DappRadar, there are over 4,400 dApps using Binance’s network vs. approximately 3,600 built on Ethereum - an impressive achievement.
Alongside quarterly token supply burns and Binance’s unshakeable status as the leading crypto exchange, there are plenty of reasons to be bullish on BNB. As such, Binance Coin is the fourth best cryptocurrency to invest in.
5. Bitcoin (BTC): The Best Alternative to Gold
Bitcoin is commonly touted as the best crypto for beginners, but it undoubtedly deserves a place in any crypto investor’s portfolio. It’s the original and best-known cryptocurrency, remaining the most valuable since its inception in 2009. Created by a mysterious figure known as Satoshi Nakamoto, Bitcoin is one of the only cryptocurrencies that is completely decentralized, making it resistant to both censorship and fraud.
Perhaps one of the biggest reasons to invest in Bitcoin is its status as “digital gold.” Gold has been used for millennia as a store of value and transaction medium thanks to its fixed supply, but can be hard to convert to cash, costly to store, and isn’t particularly portable. Meanwhile, Bitcoin has the same fixed supply, but can be traded 24/7, costs nothing to store, and can be transported on paper or a USB stick.
With many central banks printing large amounts of money during the pandemic, there are also concerns about the long-term value of fiat currencies. While inflation might wreak havoc on fiat, Bitcoin is deflationary and could rise substantially as investors look for a safer place to put their money, which is why Bitcoin is the fifth best cryptocurrency to invest in right now.
6. VeChain (VET): The Best Enterprise-Grade Network
VeChain is a leading enterprise-first blockchain that aims to help business improve their supply chain efficiency. It uses blockchain technology to track and verify the authenticity of products from source to consumer, helping to reduce counterfeiting and improve product quality. In sectors like luxury goods and food, Vechain has been a valuable tool for companies looking to offer greater transparency and promote trust in their supply chains.
In practice, VeChain uses a number of sensors throughout a product's journey to track its movements, storing each data point on the blockchain. This enables stakeholders, from producer to consumer, to verify storage temperatures, transportation status, and other key information in real time.
Nowadays, VeChain is more than just a supply chain management solution. It’s one of the best cryptos focusing on sustainability, launching initiatives like VeCarbon to help businesses manage their carbon emissions. Recently, Mercedes Benz signed a deal with Hydro, one of the world’s largest aluminum manufacturers and a user of the VeChain-based solution Tag.Trace.Trust (TTT). TTT allows Hydro customers to verify the environmental impact of its products.
With dozens of other partnerships, including big names like BMW, LVMH, and Walmart China, VeChain is undoubtedly one of the most widely adopted blockchains out there. 2023 could see more companies integrating VeChain into their processes, making it one of the best cryptocurrencies to invest in right now.
Metacade (MCADE) is the Best Cryptocurrency to Invest in Right Now
As the market looks set to bounce back in 2023, getting in while prices are low could be one of your best crypto investment decisions yet. While Bitcoin and Ethereum are expected to remain on top, Polygon and VeChain are predicted to experience strong growth in the coming year as more companies look to integrate blockchain technology into their processes. But if you’re looking for the ultimate investment opportunity, look no further than Metacade.
With a strong focus on community ownership, the potential to become a leader of P2E, and a token still in presale, Metacade is poised to grow substantially in 2023. And right now, there couldn’t be a better time to buy. That’s because, at the moment, MCADE is worth $0.01 in phase 1 of presale.
By the end of presale, MCADE will be valued at $0.02 and should have a market cap of $28 million before the token even goes on sale to the public. Make sure you don’t miss out on this incredible opportunity to get in early on one of the most exciting P2E projects of 2023!
You can buy the cryptocurrencies listed above at eToro here.
You can participate in the Metacade presale here.
Disclaimer: Insights provided by crypto industry players and is not a part of the editorial content of BanklessTimes.
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