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New cryptocurrencies are constantly coming up and investors have been eagerly participating in these new cryptocurrencies presales. Most are driven by the desire to find the next top and promising cryptocurrency and get immense profits. For investors who understand the potential risk and rewards involved, such high cryptocurrencies present a huge opportunity for fast and significant returns on investment. With the notable surge in crypto participation in the past weeks, it foretells the coming of a possible bull run this summer, let's find out what top coin investors can consider adding to their portfolio.
Bitcoin (BTC)
No investor would be surprised with Bitcoin topping this list. As the most popular and largest cryptocurrency launched worldwide over a decade ago, Bitcoin has proven to be a top choice of investment for many investors. While the coin has been through turbulent times recently, it is expected to soar in the 2023 bull run. This is due to several factors including growing mainstream acceptance, improved institutional investment, and the fact that Bitcoin remains the “chief” of all cryptocurrencies.
Solana (SOL)
Though Solana price dropped intensely from $258 in November 2021, the coin has been slowly getting back on its feet to around $24.52 at the time of writing. Still one of the most preferred coins as a result of its low gas fee, the coin has been the subject of discussion for a while. Analysts are optimistic about the coin's performance in the coming bull run.
Raoul Pal, formerly of Goldman Sachs, believes that the coin could do well, since its current run is similar to that of Ethereum (ETH) during the 2018/19 bear run. Additionally, blockchain researcher Sal Qadir, the host of the Unlayered podcast on non-EVM ecosystems is also optimistic about the coin's midterm potential.
Wall Street Memes ($WSM)
Another potentially interesting coin that provides a good investment opportunity as the bull run is anticipated is the Wall Street Memes ($WSM). Using the viral power of the meme culture combined with the finance world, the coin aims to challenge the “top guys'' on Wall Street with community spirit and humor in a unique way that sets the stage for success.
With a 1.1 million strong community speed across social media channels, the coin's presale instantly became a success raising a huge sum of $16.7 million. Still, in the last stages, investors who aim for the large returns might need to act quickly to get in on the action. Additionally, the coin has a Tier-1 CEX listing, giving it a huge potential to increase in value in the coming bull run.
Ripple (XRP)
Launched in 2012, the Ripple (XRP) coin soon became a huge success but had been in a Securities and Exchange Commission (SEC) lawsuit in 2020. This led to most top U.S. cryptocurrency exchanges to delist the company. However, investors were fortunate enough, as the coin won the protracted battle against the SEC. The judge ruled that the coin didn't go against security laws through the sales of XRP tokens on exchanges, but it was done via sales to institutional investors. This news directly resulted in a hike in the price of the coin and analysts predict it could lead to the cryptocurrency's value and trading volume increasing.
Ethereum (ETH)
As the top choice for everything decentralized application (dApp) developers worldwide, the coin needs no introduction. With its smart contract functionality, there is no need for middlemen, thus the process is solely decentralized. With Ethereum's unique use case and huge rallies, it is a top choice of cryptocurrency to invest in. Since the year began in 2023, the coin has shown immense resilience. In addition to its market performance, Ethereum offers several benefits as a token to invest in the coming bull run, especially in the long term.
Cardano (ADA)
As a sustainable blockchain platform, it addresses interoperability and scalability issues of the earliest blockchains like Ethereum and Bitcoin. With its improved technology, the demand for its native token ADA, increased as more people used the network and features. Cardano has a strong community made up of supporters, researchers, and developers who work to improve the ecosystem and platform. They help drive adoption and innovation, further increasing the demand for the coin.
Additionally, its special governance model offers stakeholders the right to an opinion in the platform’s decision-making and development. This helps increase the platform’s transparency and stability, making it a good option for investors who seek a more decentralized and democratic platform.
Endnote
These cryptocurrencies are some of the promising and top coins with strong fundamentals that investors can consider for the coming bull run. Remember to perform your research and invest responsibly. Cryptocurrency investment is very volatile and unpredictable, so investors must be prepared for the risks. Nevertheless, the 2023 bull run will be an interesting period for the cryptocurrency market. The above-mentioned coins could offer huge returns for investors who choose to invest in them.
