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Every investor needs to consider what projects are most likely to produce the biggest returns when deciding which projects are the best ones in which to invest, but this process is easier said than done.
Analysts have been updating their recommendations for the top crypto to buy this year, and it’s perhaps most useful to look at the projects that the most respected analysts all agree offer a high chance of enormous returns.
Some of the projects that are aligning the views of many experts at the moment when assessing the top crypto to buy at the moment are:
- Metacade (MCADE)
- Hedera (HBAR)
- Dogecoin (DOGE)
- Ripple (XRP)
- Chainlink (LINK)
This article will explore why these projects are so well regarded when it comes to the potential returns in 2023.
1. Metacade (MCADE) – Changing the face of gaming
Metacade is a phenomenal new project that looks set to change the face of gaming as we know it today. A GameFi project, Metacade is building the world’s largest play-to-earn (P2E) arcade, with users able to earn rewards for playing in the style that they prefer — taking back some of the power usually reserved for big corporate interests in the $200 billion industry.
Gamers can enroll in gaming tournaments, try to conquer the leaderboards on their favorite competitive ranked games, or simply play casually, by themselves, or with friends, all the while earning an income through the rewards in place across the Metacade ecosystem.
Metacade also values the broader contributions that users can make across the ecosystem, like writing content like game reviews or sharing alpha. It’s also beneficial to the community to have users engaging with one another, helping novice players, or just interacting, so Metacade has taken the innovative step of building an incentivization structure that also rewards these actions. This will help the ecosystem to grow and continue to attract new users by utilizing the power of the community to make the user experience as positive as possible.
The ecosystem needs a utility token to function correctly, and this is the role of the MCADE token. As well as being used for all transactions within the platform, such as entering tournaments or buying merchandise, the MCADE token is also used for all rewards. The project boasts the ability to stake the MCADE token so that investors can earn a passive income – paid in stablecoin to avoid inflating the amount of MCADE in circulation – while holding strong.
Metagrants is one of the features of the platform that really jumps out of the whitepaper and has really excited the investment community. The program gives development teams of all levels of experience the opportunity to present their game ideas to the Metacade community, garnering feedback as to what the community wants more of on the platform. Holders of MCADE are then able to vote to decide which projects deserve to be funded by the Metacade treasury, which ensures that the community themselves are heavily involved in the decision-making shaping the future of the platform.
The Metacade team has also won plaudits from the investment community for the proactive approach they have taken to security and token safety. By submitting both the team details and smart contracts to the respected auditing company Certik, the team has taken steps to remove any concerns around the security best practice of the project. This attention to detail has impressed many in the space.
>>> You can participate in the Metacade presale here <<<
2. Hedera (HBAR) – An evolution of blockchain
Hedera was founded by former military colleagues, Mance Harmon and Dr. Leemon Baird, who have built a distributed ledger protocol that they claim is the evolution of blockchain. Rather than using a traditional blockchain approach, the project relies instead on a directed acyclic graph (DAG) methodology in its place.
This technology, combined with the patented consensus implementation based on a mathematical proof by Chief Scientist Baird, provides the project with a highly scalable network that boasts extremely low transaction costs while allowing significant throughput.
The project also utilizes a different approach to decentralization, with the ownership of Hedera sitting with a council of large corporations and educational institutions that serve a fixed term of three years. The idea behind the council is that the reputational risk to council members incentivizes them to behave well and also provides a good way of attracting enterprise customers to the Hedera network.
The project has recently launched a basic staking offering, and there has been a lot of talk from the team about a number of big projects that could drive a huge shift in the number of transactions being processed by the network. This could make HBAR a top crypto to buy for 2023, as with all transaction fees paid for in HBAR, a surge in adoption would almost certainly result in a big price increase.
3. Dogecoin (DOGE) – The original meme coin
Dogecoin may have started as a joke, but the progress the project has made and the huge movement that the famous Shiba Inu dog has started is anything but. The meme coin project has been criticized by some for lacking utility. Still, the Dogecoin community argues that the primary utility of DOGE is an alternative to fiat money, giving it utility by definition.
While most meme coins have disappeared following the 2021 bull run, DOGE is here to stay. Its strong community spirit and positive attitude that the community holds so dear give meaning to the idea that DOGE is one of a kind.
It’s this potential for doing good that has won over so many skeptical investors, and it’s no surprise that it’s a project that has attracted a lot of celebrity attention, given the generosity and kindness that the project values above all.
DOGE as an investment is an interesting prospect, but the main reason that it should be considered a top crypto to buy for 2023 is the position that its biggest fan — Elon Musk — finds himself in. Having dramatically taken over Twitter, Musk is now in a position to make good on his promotion of DOGE back in 2021. If the billionaire integrated DOGE as a method of payment or tipping into Twitter, the demand that it would drive would almost certainly take the price of DOGE to the moon.
4. Ripple (XRP) – Nearing the end of a long legal battle
Ripple is one of the very few crypto projects that have been able to leverage Web3 technology and build a huge business on the back of it, and the involvement of Ripple is huge and influential groups like the Digital Pound Foundation speaks to the high regard with which traditional finance leaders hold the Ripple team.
The lawsuit with the SEC over whether XRP should be classed as a security or not may have dragged on for what feels like forever. Many are suggesting, however, that the firm may be closer than ever to a resolution, which could provide significant regulatory clarity to Ripple and also the wider crypto community.
Perhaps more than any other project, holders of XRP have built a reputation for the fanatical way they support the project. Should Ripple achieve the outcome they are looking for in the lawsuit, it could open the floodgates for XRP use cases that have been in the works for years to go live, which could put huge pressure on the price of XRP.
5. Chainlink (LINK) – Providing oracles and now interoperability
Chainlink has solved one of the toughest problems in crypto, known as the oracle problem. It states that the biggest challenge for Web3 is figuring out how off-chain information can be accessed on-chain by smart contracts in order to meet use cases that need to know what is going on in the world.
It’s no surprise that as the dominating force in Web3 oracles, Chainlink boasts an incredible amount of partnerships, and given the size that the Chainlink business has grown to, it has also been able to expand its ambitions to interoperability — planning to release a solution known as CCIP in the near future.
Chainlink is also very well-regarded due to the close relationship they have with the world’s biggest payment company, Swift. Should the tests that the two businesses have been running yield real-world use cases that use the LINK token in the world of TradFi, it would be sure to see a dramatic price increase and deliver huge gains for holders who have shown their patience over many years.
Metacade is the top crypto to buy today
There’s no doubt that Metacade is an incredible opportunity, and with the presale offering an insane discount on the likely true market value of the MCADE token, investors who act quickly enough to acquire MCADE at presale prices will be the envy of the investment world.
The huge potential that Metacade’s plan shows is a big driver in the spectacular performance of the presale to date, with an astonishing $3.3 million raised in just 9 weeks. The project is not likely to see its presale stay open for long, so those sitting on the sidelines would do well to act now to give the best chance of mind-blowing gains in 2023.
You can participate in the Metacade presale here.
The post Analyst Opinions: These are the Top Cryptos to Buy for 2023 appeared first on Invezz.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.