Crypto investors face a high risk of losing money. This is why it’s important to choose a reliable cryptocurrency exchange.

The first quarter of 2023 was positive for many cryptocurrencies. Leading assets like Bitcoin and Ethereum were among the biggest crypto gainers. However, some sectors were underperforming. This is due to the Silicon Valley Bank crisis and depegging of USDC stablecoin.

Bitcoin (BTC)

Bitcoin is one of the oldest and most well-known cryptocurrencies in the world. It has become a major store of value, and its price is sensitive to interest rate rises and other macroeconomic factors. The Bitcoin price chart in 2023 has been volatile, but the coin continues to gain adoption and is considered a safe haven asset.

Cryptocurrency prices are often quoted in terms of their market capitalization, which is the price per coin or token multiplied by the total number of coins or tokens in circulation. This is a helpful metric to use because it strips away temporary price excitement and gives investors a more accurate picture of the market.

Large-cap cryptocurrencies usually have a market cap of more than $10 billion. This class of cryptocurrencies takes the lion’s share of the crypto market and includes such top-ranked assets as Bitcoin, Ethereum (ETH), Tether (USDT) and Binance Coin (BNB). They are akin to blue chip stocks in traditional stock markets. Purchasing these cryptocurrencies is often considered a safe haven, as they are less susceptible to regulatory crackdowns.

Ethereum (ETH)

Cryptocurrency prices can be very volatile and figuring out what they will do in the future is hard. There are a lot of factors that can affect the price, and even experts and fancy analysis may not be right all the time.

However, the overall crypto market seems to be recovering and Bitcoin is slowly reclaiming its top position. The global macroeconomic situation and inflation data have been positive, which has given a boost to the cryptocurrency market.

Currently, Ethereum is the second largest crypto in the world by market capitalization. In the last few years, ETH has been challenging Bitcoin’s supremacy and is closing the gap with it in terms of market cap.

The ETH price chart is showing a potential cup and handle pattern, which is a bullish technical indicator. This can lead to a rise in the Ethereum price, and we could see it creating new highs this year. Moreover, the launch of EDX Markets, a new exchange backed by Bidsbee and Citadel Securities, could also give the crypto a big boost in the coming months.

Ripple (XRP)

Ripple (XRP) is a digital asset used on the Ripple network to facilitate cross-border payments. Its speed and low transaction fees have led to its adoption by banks and other financial institutions. The cryptocurrency has a limited number of tokens, which are distributed on a pre-determined schedule. Its price is influenced by the success of its network, which has been growing rapidly.

XRP’s future growth potential is tied to its value proposition as a global money transfer platform. Its clients include banks and financial institutions, which could boost investor confidence in the company. Additionally, positive developments in its legal case with the US Securities and Exchange Commission (SEC) may push XRP’s price up.

Unlike Bitcoin, which is subject to high transaction fees, XRP has a much lower fee structure. This makes it a more attractive alternative for investors seeking low-cost cryptos to invest in. Moreover, the coin has a low market cap relative to other top cryptocurrencies and is a good entry point for newcomers to the space. Its prices are also expected to rise as the crypto market recovers.

Binance Coin (BNB)

The Binance coin (BNB) is the utility token of the popular crypto exchange Binance. The token enables users to reduce trading fees on the platform, and can also be used to pay for other services offered by the company. In addition, BNB has a unique burn system that destroys a portion of the total supply on a quarterly basis to increase its scarcity and value.

The coin has seen significant gains in the past, rising over 220% between July and December 2017. However, its price has struggled in recent months due to a bear market that has affected the overall cryptocurrency industry.

The price of BNB has been volatile recently, but the long-term trend is positive. The price of the coin may reach $1000 before 2024 if it can break through resistance at $350. It would then have the potential to rise toward $450 and beyond. Moreover, Binance is expanding its presence in new markets, which should boost the token’s value. The project is also introducing a new range of products that will expand user investment options.

Stellar (XLM)

When Stellar Lumens first came onto the market in 2014, it was worth less than a cent. It rose past the dollar mark in 2017 and hit a new all-time high of $0.9381 in early 2018. However, the coin was crushed as crypto experienced the so-called “crypto winter” and fell perilously close to $0.10 later in the year.

Nevertheless, Stellar is on the verge of a huge breakout performance. A move above the $0.24 resistance level could trigger a strong bull run that would send the price to new highs. The key moving averages are trending upwards, which suggests that the medium-term outlook is bullish. In addition, trading volume has increased significantly over the past month, which is a good sign that interest in the coin is picking up.

Stellar is a great choice for investors looking for a solid altcoin with the potential to grow even further in 2023. If the platform can make progress facilitating cross-border payments in emerging markets, it will see tremendous demand from users. In the long term, Stellar could even overtake Cardano’s ADA token and become a top 5 cryptocurrency.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
• Source: Plato Data Intelligence.