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Crypto Whales Think These 7 Tokens Are The Best Coins To Invest In During 2023
HomeNewsCrypto Whales Think These 7 Tokens Are The Best Coins To Invest In During 2023

Crypto Whales Think These 7 Tokens Are The Best Coins To Invest In During 2023

News Desk
News Desk
February 20th, 2023
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Savvy investors are constantly reviewing the behavior of crypto whales to determine which projects have the support of some of the most influential players in the market. Crypto whales can sometimes move the market with a single large transaction, so it’s important to get a feel for which projects they are backing if you want to make the largest profits.

Now that the bear market might finally have bottomed, there’s no better time to be looking for the next big thing than right now, so here are some of the projects that are seeing the most support from crypto whales in 2023 so far:

  1. Metacade (MCADE)

  2. Injective Protocol (INJ)

  3. Cardano (ADA)

  4. Ethereum (ETH)

  5. Quant Network (QNT)

  6. The Graph (GRT)

  7. Binance Coin (BNB)

1. Metacade (MCADE)

Metacade is regarded by most experienced investors who have reviewed the recent whitepaper release to be one of the best coins to invest in. Based on the performance of the presale, crypto whales agree.

The new and disruptive GameFi project is turning many heads across investment circles following the huge $7m that the project’s presale has raised in its first 13 weeks. The project shows no signs of slowing down, with total funding now up even more in stage 4 of the presale.

The detailed plans outlined in the whitepaper have filled investor circles with excitement due to the predicted impact that the project could have on the $200 billion gaming industry. By setting out to build the world’s largest play-to-earn (P2E) arcade, the project looks very well-placed to secure a big slice of the market — as gamers migrate over to earn while they enjoy their favorite hobby.

The reward mechanisms in place throughout the ecosystem are central to the project's proposition. It’s these rewards that power the P2E arcade, rewarding gamers for all different types of gameplay according to their taste. This means that whether gamers prefer to play competitively, enter tournaments and battle their way to the top of the community leaderboards, or just casually playing solo or with friends, they can earn an income with Metacade.

The rewards go even further, though. In addition to gaming-related rewards, a number of other activities earn rewards due to the positive impact it has on the broader quality of the user experience. This means that users can write game reviews, share alpha or engage with the community and be rewarded, which creates a powerful positive force for improvement in the platform.

It’s no surprise that a project featuring so many different elements would require a utility token to function effectively, and this is where MCADE comes in. MCADE serves as the currency of the ecosystem, with all value exchanges requiring the token and ensuring that user growth across the platform will drive demand for MCADE, increasing its price in turn.

MCADE holders can also stake their tokens, earning a passive income for using the tokens to help secure the network. This is one of the many investor-friendly design choices made by the Metacade team and another reason for the flurry of interest in the presale.

Metagrants is a feature that has drawn a great deal of attention and is rumored to be a contributing factor to several large presale purchases likely made by crypto whales. The program enables the community to have a big say in the future development of the games library, with MCADE holders voting on which game development projects should be allocated funding.

The spirit of Metagrants is one of community influence, and this theme runs throughout the project. The project has even planned for a complete transition to community ownership and governance via a DAO (decentralized autonomous organization) over the next few years.

With such a bright future ahead, Metacade easily finds its way to the top of the list of best coins to invest in.

>>> You can participate in the Metacade presale here <<<

2. Injective Protocol (INJ)

Injective Protocol uses cutting-edge technology to provide a decentralized exchange that can work across different chains. This is very different from the standard DEX experience that is typically limited to a single chain, and also in the way that the project relies on a traditional order book model for liquidity rather than the automated market maker (AMM) approach that has proved very popular with other DEXs such as Uniswap (UNI).

By building the project in this way, Injective Protocol can leverage the hyper-efficiency common in the non-crypto financial world and is, therefore, able to offer products typically reserved for only TradFi companies — such as synthetics, futures, and derivatives.

The INJ token is used for both governance and utility. If Injective Protocol can reach more than one billion unbanked people worldwide, it could tap into a huge market of users, driving up the demand for the INJ token.

3. Cardano (ADA)

Cardano is a layer-1 protocol that competes with Ethereum in the public permissionless space and was created by Charles Hoskinson, who was involved in the earliest days of Ethereum.

Cardano has taken a more academic approach to how it has built up its network, with each piece of research needing to be peer-reviewed before implementation. While this has meant that the project’s releases have been subject to several delays, it has won many fans due to its careful decision-making.

The passionate community continues to build an ecosystem of decentralized applications (dApps) on Cardano. As the core technology makes the changes required to bring higher throughput and faster transaction speed to the protocol, the price of ADA will likely increase as it reflects the growing demand for related services.

4. Ethereum (ETH)

Ethereum is one of the best-known crypto projects and is only behind Bitcoin in market cap. However, the project still could provide significant gains to savvy investors, given the strong position the layer-1 protocol finds itself in.

The Ethereum network is the project that introduced smart contracts to the world and, in doing so, opened the door to the vast majority of other projects in the Web3 charts right now. Ethereum is focused on driving this new technological innovation forward. Many of the most notable projects are built on the Ethereum blockchain, such as Chainlink, Quant Network, and Axie Infinity.

Ethereum recently completed The Merge, and in doing so, the project has shown its ability to deliver complex releases without impacting the incredible 100% uptime that the project boasts. With so many competing layer-1 protocols having been unable to dethrone Ethereum, it’s clear that with The Merge setting a course for ETH to become deflationary, the price of ETH tokens is likely to continue to climb through 2023 and beyond, making it one of the best coins to invest in.

5. Quant Network (QNT)

Quant Network has positioned itself as a market leader in enterprise interoperability and one of the few realistic candidates in the crypto space for involvement with central bank digital currencies (CBDCs).

The project uses its closed source ‘operating system’ Overledger to seamlessly transition digital assets across chains. It is also focused on integrating legacy finance systems to open Web3 technologies to traditional financial players who must make strategic moves more measuredly than DeFi.

The project is headed by Gilbert Verdian, who has worked at both the Fed and the Bank of England, meaning that while the project is secretive about its progress, it could be exceptionally well-placed to deliver mind-blowing returns to investors if the right use cases decide to use Overledger and the QNT token.

6. The Graph (GRT)

As the number of layer-1 protocols continues to expand and the ‘winner takes all’ result that some once saw as inevitable is replaced by a flexible but complementary set of blockchain projects, the need to be able to search across many different chains for information is increasing dramatically.

The Graph aims to solve this issue by allowing users to take on several roles with its ecosystem, which supports the indexing, storage, and distribution of data in a developer-friendly way.

GRT is the project’s utility token and is a vital part of the incentivization structure provided to the numerous roles to ensure everything functions correctly. While GRT holders may need to wait a little while for the growth of Web3 to bring about higher demand for The Graph’s services, it seems inevitable that over time The Graph could have already positioned itself as a market leader in Web3 data.

7. Binance Coin (BNB)

Following the fall of FTX, Binance’s position as the market leader of dedicated crypto exchanges is unquestionable. Not only does the exchange post volumes much higher than its closest competitors, but the founder, CZ, has taken many steps to diversify the product range while entrenching the company's success.

One of the main ways this has been achieved is through the launch of Binance’s very own layer-1 protocol, Binance Smart Chain (BSC). While the BSC network has come under some criticism for how centralized it is with all validators belonging to Binance, the ultra-low transaction fees and high speed and uptime have meant that the chain has proved popular across projects for whom decentralization is not critical.

One of the most vital elements of the Binance strategy is how the revenues from the exchange are used to aggressively fund projects integrating with the BSC via the Binance launchpad. This accelerates the efforts to capture significant use cases on the protocol and makes it more likely that sooner or later, BSC will see a high-volume project or two launching on its chain, which could see the price of the BNB token increase dramatically.

What project is the favorite of the crypto whales?

Despite some substantial projects that crypto whales are looking into, Metacade looks to be the most popular choice among crypto whales and investors, sitting comfortably in first place on a list of the best coins to invest in. With so much potential to see a utility-driven 100x in the price of MCADE during 2023, it's no wonder the presale is selling out so quickly.

While many seasoned investors have already secured their MCADE before the huge price increases, a lucky few will be able to learn of the project and invest during these early stages, giving themselves the rare opportunity of achieving generational wealth.

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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