Cryptocurrencies have long been feared for their volatile nature. However, it's a characteristic that draws investors to this realm with a magnetic allure. Although it's often linked to risk, the high volatility is also linked to potentially lucrative rewards. As a result, crypto enthusiasts comb the market year after year, seeking out the future stars among the thousands of new projects that emerge in droves.
The earlier one invests, the greater the potential return on investment becomes. Hence, investors are constantly on the lookout for promising ventures that are on the cusp of skyrocketing. In this ever-evolving landscape, it's imperative to stay vigilant and discerning. Cryptocurrency investment is not for the faint-hearted, but for those willing to take calculated risks, the potential for significant gains is ever-present. Here is the list of most promising cryptocurrencies to follow in 2023.
CHEEL, the governance token of the GameFi short video platform Cheelee, debuts our ranking of the year 2023's most alluring tokens. Cheelee is a new generation social network that allows users to make money while scrolling their favorite video feed. Cheelee operates within Herbert Simon's "Attention Economy" paradigm. It implies that viewers ought to be compensated for the attention they pay to information, because their focus is the most valuable resource in the new economy. Cheelee is a genuine chance for each user to monetize their attention, not just a Watch-and-Earn project.
CHEEL token is needed for increasing the level of NFT glasses which help to earn on watching the feed. More chances to earn are at higher levels where you can connect various tools that act as accelerators of earnings. Additionally, CHEEL holders can influence how the platform develops in the future, for this token gives them the voting right, according to the DAO principle.
Cheelee has a growth potential of at least $100 billion given that its primary rivals in the short video platforms market are estimated to be worth more than $500 billion. Given that, CHEEL can grow by at least 1000 times soon, and this is quite a real forecast. If you're still looking for initiatives that can help you get XXs, investing in CHEEL is unquestionably this one.
CHEEL can shortly rank among the top cryptocurrencies because Cheelee's audience is 4.6 billion people spend at least 2,5 hours per day on short video social networks! It makes CHEEL the first cryptocurrency whose audience potentially includes half of all people on the planet.
Cheelee has the Stability Fund, which saves the CHEEL`s price from sentiment of investors and funds. There goes the majority of the company's income, including 100% of NFT sales and platform fees, as well as 70% of advertising revenue and in-app purchases. CHEEL is currently listed on Coinsbit and BitMart, and within a month after the start of trading, the token showed an increase of more than x75. Cheelee App is already available on Google Play and in the beginning of April it will be on the App Store.
Tired of metaverse hype? Brace yourself for a little longer, as a new player in this market is poised to make a splash. Enter Towns, a revolutionary Web3 group chat protocol and app that enables online communities to construct blockchain-based gatherings. Boasting an impressive $25 million in Series A funding, led by none other than Andreessen Horowitz (a16z), this startup also received support from Benchmark and Framework Ventures.
Towns is an end-to-end encrypted chat protocol that empowers communities to build programmable, self-governed "town squares" where users can convene and converse without fear of being shut out, exploited or stripped of user rights by app owners. Communities wield the ability to control settings like administration, privacy and roles, while also tailoring experiences to their needs. This includes rewarding member participation or allowing members to trade NFT in the chat.
While Towns doesn't currently have a coin available for purchase, the protocol is actively involving users in testing the application. As a DAO model is in play, it's reasonable to assume that a control token will soon follow the launch, and testers will be eligible for a token airdrop. All in all, Towns is an exciting prospect that could revolutionize the metaverse landscape as we know it.
dYdX is a decentralized exchange that supports perpetual trading. With smart contracts, dYdX eliminates intermediaries, empowering users to trade directly with ease. Its lightning-fast Layer 2 technology offers a seamless, low-cost experience that mimics the user-friendly functionality of centralized exchanges like Binance.
One thing that sets dYdX apart from the pack is its commitment to a traditional orderbook + matching model, rather than relying on an automated market maker (AMM) for trading. And with whispers of sudden account bans sweeping Binance, more and more users are flocking to decentralized trading platforms like dYdX. In fact, this platform's popularity has grown so much that it even surpassed Coinbase in trading volume for a brief period.
But it's not just the platform's user-friendliness that's garnering attention. dYdX has also been delivering impressive performance metrics, recording 14 out of 30 (47%) green days with a 13.37% price volatility over the last 30 days. All in all, dYdX is a standout player in the ever-evolving world of decentralized trading, offering a reliable, cutting-edge platform for users to engage with the exciting world of crypto.
Even during the cryptocurrency winter, ALGO has defied the odds, surging in price by a remarkable 2.5 times over the course of a single year. ALGO is a coin of Algorand, a blockchain protocol that was founded by a brilliant MIT professor and Turing award winner, Silvio Micali. The protocol uses a cutting-edge pure-proof-of-stake (PPoS) system to provide decentralized, democratic consensus. Anyone who owns at least one ALGO can participate, which makes them eligible to randomly propose and add new blocks to the chain. With Algorand, you can enjoy up to 6,000 transactions per second, confirmation times of fewer than five seconds, and low fees. The blockchain offers a plethora of dApps and Web3 apps that range from DeFi to NFTs and more, making it an exciting playground for tech enthusiasts.
Algorand's developers claim that they have resolved the "blockchain trilemma" while ensuring high performance, scalability, and security through the Pure Proof-of-Stake consensus mechanism and other innovative features. The Algorand blockchain has become the hub of many decentralized applications in a variety of fields, including decentralized exchanges and lending protocols, automated market makers, DAOs, staking and trading protocols, NFT marketplaces, and play-to-earn games.
From staking and transaction fees to governance and beyond, ALGO plays an integral role in keeping the network running smoothly. Not only is ALGO widely traded on the largest exchanges, but it also boasts an impressive track record of stable and confident growth.
Helium is a decentralized blockchain network for Internet of Things (IoT) devices. Helium is based on the proof-of-coverage (PoC) algorithm, which rewards users for validating transactions and ensuring stability. PoC uses a HoneyBadger BFT protocol, allowing nodes to reach consensus even when connection quality is highly variable. Its mainnet allows low-powered wireless devices to connect and share data with other devices via its nodes. Helium is like the Elon Musk of IoT because it's improving communication capabilities for wireless IoT devices.
Helium offers financial incentives to attract more users. Network participants can purchase Hotspots or make their own. Hotspots are wireless gateways that mine Helium's native token, HNT, and provide network coverage within a certain radius. Hotspot owners earn HNT tokens for contributing to mining. However, as the number of hotspots increases, the profit per hotspot decreases.
Within a year, the price of HNT has increased almost twice.
In today's digital landscape, promising cryptocurrencies are cropping up in a variety of sectors, from gaming and trading to communications and beyond. It can be a daunting task to stay abreast of all the new projects vying for attention in this fast-paced space. However, staying vigilant and keeping a watchful eye on emerging cryptocurrencies is critical in order to avoid missing out on potential opportunities.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.