The 4 best digital currencies for trading in 2023
happy New Year if you are anything like me then as far as crypto goes you want to put 2022 in your rearview mirror and you want to keep it there you're also probably hoping that the bear market will end and 2023 is finally a reason for some optimism in this space we had altcoin buys or optimists when it comes to 2023. we have four coins that cover three different sectors that we feel are going to do pretty well no matter what else happens in the market this year today we are looking at our annual New Year's picks the 2023 Edition to stay tuned as we unveil our picks and more importantly why they were chosen from foreign.
One of the cool projects in this space we are not fans of nice weather we will never lose our enthusiasm but as a nice personal reminder just keep in mind that what we're talking about today should not be considered official Financial or investment adviser with that being said let's launch right into our.
1. the first number altcoin Buzz.
so that you understand it a little bit of preface here our research team at altcoin Buzz firmly believes as do I that the metaverse is going to make a big comeback in 2023 and it may not be right away but it will inevitably happen whether or not it comes back right away the picks here that we're looking at today suggest that when you're looking back in December of 2023 you're going to be able to say to yourself oh that was a good pick that recovered well that did well against the market that's what we're going for here and so the metaverse really could be one of those recovering sectors that we think is going to do well as far as the long term so with that premise with that the assumption that we do like the metaverse the question becomes.
what do we buy well look we still like the Undisputed leader in this category it is the sandbox because look most metaverses if we're looking critically, are more about hype than actual development and adoption and the two leading metaverses, without doubt, are decentral end and the sandbox we like the sandbox more and that is for a couple of different reasons decentral and only has 7057 unique users in the last 30 days are pretty modest metrics this is a terrible number in fact I'm actually being kind of gentle with them but it's a bad number it's ridiculously low considering that you have to come online to use the metaverse there making the numbers easy to track despite also being weighed down the sandbox is doing better in November alone there were over 35 000 token transfers equaling more than 350 million dollars in value so to There are people who really sandbox and hopefully he'll recover soon that's probably why he's sandboxed so maybe it's is decentral and but if not one of those two.
what is your favorite metaverse project we like the sandbox but if it's something else let us know in the comments below alright here's a little bit of a curveball coin.
2. number two Bitcoin.
because look the last couple of months if you've been watching us you know that I personally have been talking a lot about Bitcoin as well probably more than usual and there are some pretty basic reasons for that fundamentals really, first of all, it is the Undisputed leader as far as cryptocurrencies and as we've said in other videos if you are not hoddling at least some Bitcoin then you're doing it wrong, unfortunately, I hate to break it to you furthermore Bitcoin is the the asset of Last Resort because we just talked about this in our last video because even all the other scammers after they sell off their assets things like ftt tokens end up using that money to buy Bitcoin they're not buying Ethereum they're not buying other altcoins they're buying BTC and it's because it is the highest quality asset in the industry but now there's also another argument for it and that is cbdc's so we all know that interest from governments issuing their own cbdc that stands by the way for Central Bank digital currency that interest from governments is at an all-time high and it's growing more governments are coming out of the woodwork every day they're going to be issuing them eventually and you also know that they're bad and used as a method to control citizens, this is yes based to a certain extent on cryptography on the blockchain but in a very centralized way it's not good for us so look after the bad experience of using a cbdc more are going to see.
the benefits of Bitcoin and in fact I think cbdc's are bullish for Bitcoin ultimately it's going to look like a competition at first but then people will see the different people that maybe are unfamiliar with these kinds of Technologies they're going to become more mainstream and then people are going to be able to see the difference hopefully at least once they see through the propaganda just like how as kids we kind of eat cheap and you know fast food junk food hamburgers then we have been eventually upgrading to artisanal ones made of Angus beef when we want something of higher quality that's a loose analogy but you see where I'm going with this because Bitcoin is not only the asset of Last Resort it is the most feared asset in the entire world when it comes to financial institutions when it comes to governments wanting to issue things like cbdc seriously it is something that they fear because you don't see governments trying to ban and Outlaw Ethereum Cardano Avalanche or even our beloved polygon it's just not what they're doing and the reason why is that they're not threatened by those assets so that's the thing governments fear Bitcoin for good reason maybe you believe in crypto much more than just Bitcoin maybe you're also on board with our mentality which is very holistically supportive of quality altcoin projects that's fine but you should still own some Bitcoin all right moving right along Point.
3. the three number file coin or Sia
number three is one we haven't talked about in a little while and it all boils down to web3 infrastructure which is an area that we expect to really blow up our 2023 pick in this particular category is our weave I personally like that our weave Works in a couple of different areas of web3 infrastructure and not just file storage which is, unfortunately, the case.
file coin or Sia are really specific just to that category but when it comes to our weave you can see here just how fast their ecosystem is growing they already have more than 100 projects under their belt and reweave is enabling no code decentralized websites when working with projects like portrait and one way to think of our weave is like a competitor both of file coin and ipfs it stores your information forever and in a censorship-resistant way that's probably.
The most important part it's a big deal it's actually huge in terms of supporting other areas we like things, for example, identity and decentralized web3 versions of web 2 products things like social media and web Instagram, for example, are using them for nft file storage and this is very much a trend that we feel are only going to get bigger and our weave really is leading the way when it comes to these advantages our weave is down pretty seriously although it's up on the day as I record up 6.7 percent it's in that six to seven dollar range down from an all-time high of 89 in November of 2021 I was going to say November of last year but November of two years ago 2021 here we're looking at the one-year chart just a 50 retracement toward that previous high would mean a 7x return from where.
we currently stand and see it's a great project at what we feel right now is a pretty attractive price if there's another project that you prefer when it comes to web3 infrastructure let us know what that may be maybe you have another favorite but we are sticking behind our weave let us know if you disagree in the comments below okay and finally rounding out our list last but not least we're looking at polka dot ticker Dot d-o-t and this is where it comes to interoperability that we are prizing we feel it's going to continue to be a big theme in 2023 and Beyond and therefore that influences very much our Top Choice which is here polka dot for that category now you know from the other videos that we love Adam.
atom and the cosmos ecosystem but dot has two things that Adam does not so first cosmos ecosystem is well ahead of polka dots and there's no denying that and that may be a bad thing it may suggest that we ought to choose the Cosmos.
but in this case, it means that we know that the polka dot has Room to Grow just to get to the cosmos' level of ecosystem growth and Beyond and so we're somewhat betting here on the underdeveloped.
technically solid Underdog at only four dollars and 48 cents dots really been beaten down and look before hitting any huge growth projections for its future really just equaling or approaching cosmos' ecosystem value.
would be a very nice return for Polka Dot right now they're sitting on a 5.3 billion dollar approximately market cap so that equals the value of the top three projects in Cosmos those being.
4.the fourNumber Terra Luna
Cosmos atom Kronos and Terra Luna classic ticker l-u-n-c the rebuilt version of Luna after its implosion in the spring so all the other great Cosmos projects you might know things like.
The secret for privacy osmosis for Dex kujira for defy is by the way in our 50x long-term portfolio our mid-cap gem which is Cava and many many more all of these are added value that Cosmos has.
that the polka dot ecosystem can also capture as it ecosystem grows just to catch up to Cosmos dot can grow by 60 or 3 billion dollars up to 8.5 billion dollars and people wouldn't even notice.
most people at least but not toddlers of course like us and look the second thing that dot has that Adam doesn't is more of its ecosystem value accrues to the Token so thanks to its crowd loans and the para chain auction system there are many forced holders of the dot that tend to hold their dot for a long time because pair chain leases are 96 weeks just short of two years and so that locks up lots of Dot and of course, it's an obvious sign of how growth in pair.
chains equal growth for the dot token and for Cosmos growth in the ecosystem does not always translate unfortunately into growth price-wise for Adam and this is one of the big issues that Prop 82 which failed was trying to address now I think they're going to be addressing this problem in 2023 so that Adam is maybe of Greater reflection hopefully the cosmos ecosystem and its value but it is not there yet and it's not there today so right now we're going with.
polka dot although look we do love them both admittedly there you have it our top four across those important categories for 2023, of course, there's going to be some disagreement when it comes to these choices but those are our picks for the year if you disagree what your choices what.
