Top 10 Cryptocurrencies that Are Good for Crypto Day Trading in 2023

Looking at the current situation, these cryptocurrencies might be worth investing in shortly

A spectacular increase in the demand for cryptocurrencies this year comes as no big surprise. As more people are inclined towards alternate sources of income, the cryptocurrency market has seen demand like never before. Though Bitcoin has always managed to draw eyeballs from everywhere around, there are other cryptocurrencies as well, that stand the potential to make it into your investment portfolio. But looking at the current situation, one can say that many cryptocurrencies might be worth investing in shortly. This article features the top 10 cryptocurrencies that are good for crypto day trading in 2023.

Avalanche

One of the main attractions of blockchain is efficiency. Transactions via traditional houses such as banks can take several days to reflect on the beneficiary's side. Blockchain projects such as Avalanche have significantly expedited that process by integrating three networks.

Ripple's XRP

Ripple's XRP has gained wide recognition from everywhere because of its ability to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies. Also, the rise in its value is good enough evidence of how much potential this cryptocurrency holds.

Dogecoin

Ever since this cryptocurrency was launched in 2013, there was no looking back for Dogecoin. Since then, Dogecoin has evolved to become one of the leading cryptocurrencies in the entire cryptocurrency market. This is the reason why major companies like Dallas Mavericks, Kronos, and SpaceX have relied on this cryptocurrency.

Solana

Solana is a highly functional open-source project that banks on blockchain technology's permissionless nature to provide decentralized finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain. Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike.

Filecoin

Filecoin is like the filing cabinet for Web3. It is a decentralized storage network that serves as a secure alternative to centralized cloud storage and a passive way of making money. Filecoin can be used to store almost any type of data, be it audio files, videos, still images, or text. It also claims to be secure enough to store more sensitive information like private company information and records.

Polkadot

Polkadot is one of the most popular cryptocurrencies in the global market, but investors might not know that it is a Web3 project. The network is known for seeking scalability and compared to Ether, it ranks higher when it comes to charging low fees and offering fast speeds. Because of its top-ranking position and gradual rise in market value, DOT can stand as the market leader, and head the decentralized internet sector.

Tether

USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. The token's peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that are equal in USD value to the number of USDT in circulation.

Ethereum

Ethereum started a strong increase above the US$1,600 level against the US Dollar. ETH is up over 15% and might even clear the US$1,700 resistance zone. The second largest cryptocurrency undoubtedly finds its place in the list of the top cryptocurrencies worth investing in. There are many reasons why this altcoin has grabbed attention. Its potential applications, particularly the smart contracts that automatically execute when conditions are met, are one of the top reasons.

USD Coin

USD Coin has a set value of US$1 per coin, and each USD Coin is backed by a US dollar in a separate bank account. This makes USD Coin a popular choice for crypto investors who want to avoid the volatility and price risk associated with big currencies like Bitcoin and Ethereum. It is one of the best cryptocurrencies to buy before June to get rich.

Polygon

Polygon introduced its version of the Ethereum Hardfork, which makes its pricing more predictable, eventually making MATIC deflationary by burning coins. Its purpose is to avoid over-flooding the market with token circulation, eventually improving the overall value of the token.