Cryptocurrency has surged in popularity and value over the past few years, and it looks like this trend is set to continue. While there are many projects already underway, the future of cryptocurrency remains unknown. In this article, we will discuss some of the upcoming crypto coins that could become popular in 2023.
The Ethereum 2.0 Upgrade
Ethereum 2.0 is an upgrade to the current Ethereum platform that includes several features such as scaling solutions and improved security. This upgrade is expected to be launched in late 2022 or early 2023 and could usher in a new era of blockchain technology that would make crypto coins more accessible and easier to use than ever before.
The Non-Fungible Token (NFT) Boom
Non-fungible tokens or NFTs have seen a huge surge this year due to their ability to store ownership rights and assets on the blockchain. This type of token has gained huge traction from both institutional investors and retail investors alike, with decentralized services like OpenSea flourishing due to its ability to track unique digital items on blockchains like Ethereum. It’s likely that we’ll see more projects built upon non-fungible tokens (NFTs) in 2023, making them one of the most important cryptos for this year.
Stablecoins Gaining Popularity
Stablecoins are cryptocurrencies whose values are linked to another asset, making them less volatile compared to other cryptocurrencies such as Bitcoin and Etherum’s ETH tokens. USDT or Tether is a popular stablecoin that replicates US Dollar values while USDC has also grown significantly in popularity thanks its support by Coinbase as well as Circle’s interest in bringing more fiat currency backed coins into circulation. We anticipate stability being an important factor for establishing trust around cryptocurrencies going forward so it’s likely we’ll see further market growth driven by these types of coins next year.
Decentralized Finance (DeFi) On The Rise
Decentralized finance (DeFi) protocols are gaining traction among digital asset holders as they offer unique ways for individuals to access liquidity without having to rely on traditional financial institutions like banks or brokers for their financing needs. DeFi protocols allow users to lend funds against collateral, access high-yield savings accounts with low gas fees, grow their wealth using yield farming strategies, purchase derivatives contracts like options with no counterparty risk and much more – all with no middleman taking any fees from them along the way! It’s certain that we will keep hearing about decentralized finance throughout 2023 as more projects strive towards meeting new regulations and expanding credibility within capital markets at large scale levels which could lead us into seeing even higher adoption peaks.