7 Best New Altcoins to Invest in 2023 – CryptoMode
With new digital currencies constantly breaching the metaverse, and information overload threatening to swamp out potential gems, planning your portfolio for the year can be extremely difficult. Investors are looking for options that offer the best prospects for growth, and choosing the correct metrics to guage what they might be is vital for success.
Only a few of the new altcoins will rise up to become worthy investments over time.
If you dig far enough into the data, there is always diamonds hidden in the rough to be found. The following seven currencies are sitting pretty at the moment, and could be poised to be the best new altcoins in 2023. Developed over the last year or so, each of them has unique aspects, with simple-to-understand business models that lend themselves well to potential investing prospects:
- Metacade (MCADE)
- ApeCoin (APE)
- Cosmos (ATOM)
- Decentraland (MANA)
- Flasko (FLSK)
- FTX Token (FTT)
All investments come with some inherent risk, but by reading further, you’ll learn the pros and cons of these 7 great altcoins, and in doing so, help better understand which one best fits your portfolio.
Great Altcoin Investing Strategies in 2023
Determining what is ‘the best’ requires a certain amount of evaluating. By looking at a few key metrics of each coin, we can try to understand its core aspects, such as:
- Project goals
- Historical price action
- Current market capitalization
The best new altcoins offer a balance of these characteristics, but some metrics mean more than others. In our opinion, it is project goals, along with utility, that seem to be the most prominent indicators of a project’s potential success – as without plans for expansion, or opportunities to use the coins in a practical way – the result almost always tends to be fairly dismal in the end.
A substantial level of support comes to portfolios through securing investments with a degree of longevity, and with that in mind, here are the top 7 new altcoins most experts believe will see explosive growth over the next few months.
1. Metacade (MCADE) – The Best Choice For the Future of GameFi
Designed with a community-first approach, Metacade intends to become the metaverse’s primary gaming hub – for both gamers and crypto enthusiasts alike. By modelling itself on a virtual arcade, it plans to offer a level of nostalgic atmosphere, combined with cutting-edge development taken from the ongoing play to earn gaming revolution.
In choosing to put its community at the forefront, certain design choices have been made – the most significant of which is rewards. Gamers who interact with or contribute to the community, through tournaments, events, discussions and play to earn titles, will be rewarded with MCADE tokens – the native utility token of the platform.
MCADE tokens themselves have a variety of robust use cases. In terms of gaming, they can used for entering said tournaments, using on pay to play titles, or even purchasing merchandise as the platform evolves. For more passive users, MCADE tokens can also be staked – allowing holders to receive a share of revenues generated on the platform, as well as earning from transaction fees across the network.
Aiming to capture the sizeable GameFi market share, Metacade is targeting not only gamers but also developers – through a unique feature called Metagrants. As the name might suggest, these are forms of funding offered to developers to help them create new titles – which are then added to the arcade’s library. A truly novel aspect of Metagrants is that it will be the community which votes on how funding distributed – bringing a previously unseen level of integration between developers and users.
By creating a complete gaming ecosystem, the prospect for this type of community-driven development creates extremely exciting potential for the future of Metacade. As its arcade fills up with titles that are guaranteed support from the community which chose them, it represents fantastic sustainability for the platform moving forward.
As mentioned, some metrics are more important for choosing crypto investments than others – and the utility as well as expansion of this altcoin is starting to gain serious traction. For those who want to get on the ground floor, Metacade is on presale now, providing a great opportunity for an early entry.
>>> You can participate in the Metacade pre-sale here <<<
2. ApeCoin (APE) – For All the Meme Lovers In the House
Labeled as the hottest cryptocurrency for 2023, ApeCoin dominated the market with a 270 percent price surge during its first week on the market. With no signs of slowing down, many investors believe its price potential will continue to rise well into the year, making it a great potential investment to pick up.
It could be argued that at least some of APE’s success comes from its connection to the super-popular Bored Ape Yacht Club (BAYC) NFT collection. One of the hottest NFT sets on the market, BAYC has a history of propping up APE through its various “memes” and inclusion in the “The Otherside” metaverse project – much in the same popularity vein as others in the genre.
Despite its meme backing, APE does seem to offer some real potential – through inclusion in other blockchain-based games, and its promise of a pure democratic “DAO” governance style. All APE token owners can vote on all changes to the platform which itself also helps promote its decentralised marketing.
3. Cosmos (ATOM) – Bringing All Blockchains Under One Roof
Cosmos is an attempt to combine all available blockchains into a single global Inter Blockchain Communication (IBC) system. As such, it is poised to become one of the most important projects for the future of cryptocurrency. To accomplish this goal, it uses its native ATOM token to facilitate cooperation and incentivize network participation.
Cosmos also uses the Tendermint consensus algorithm to maintain the scalability, speed, and security of its decentralized network. Because of this, it should be able to create smart contracts you can easily convert between Bitcoin, Cardano, Ripple, and other altcoins along with other transactions.
While the system is a few years old, experts say Cosmos could well hit its stride in 2023. This is primarily because the coin is currently sitting around $30 and has exhibited steady growth rates of around 480 percent over its life. Some claim the coin could possibly breach $250 in the next few months, despite not yet reaching its all-time high of $44.70, and we’ll be looking to see how it performs.
4. Decentraland (MANA) – Real Estate Investing In the Metaverse
Decentraland is another altcoin trying to make it big in the metaverse space. It serves as a social media space for NFT enthusiasts where they can buy and sell NFTs through virtual concerts. The platform also provides other social activities such as games, entertainment, art galleries, and other e-commerce opportunities. You can even use it to buy virtual spaces called LANDs.
The focus on the NFT marketplace and the metaverse have brought investors to it in droves. MANA, Decentraland’s native token, currently sits around $0.70, approximately 88 percent below its peak. However, some experts believe it could rise by over 650 percent over the next few months. It already has an impressive list of big-hitting sponsors such as Coca-Cola, Samsung, and JP Morgan Chase.
Founded in 2017, Decentraland is the oldest coin on this list, but its potential Q1 2023 growth makes it a viable long-term investment. It often moves too slowly for short-term gains, but those who stick around could witness profits reflecting its parts performance of up to 23,000 percent increases.
5. Theta (THETA) – Taking Streaming Onto The Blockchain
Aiming to be an alternative to YouTube, Theta aims to revolutionize the video streaming space. This lofty goal makes it potentially one of the most undervalued altcoins on the market. If it succeeds, it will be one of the best new altcoin utility cases – and utility is one of the key metrics to watch. To sweeten the deal, it already found sponsors in companies like Sony and Samsung.
The platform plans to decentralize video streaming by letting content creators share videos through a peer-to-peer network of connected users. This would stand in contrast to the current centralized networks the streaming industry currently uses, helping to alleviate some of the environmental impact of computing through distribution.
To make the system work, Theta will utilize two different native coins. THETA will serve as the main token used for governance. TFUEL will serve as the platform’s internal currency, logging all transactions between viewers and creators. A staking system will handle exchanges between the two.
6. Flasko (FLSK) – Wine Connoisseurs Finally Get A Taste
Backed by the trillion-dollar luxury wine industry, Flasko stands poised for potentially explosive market growth over the next few months. Similar to Cosmos and Decentraland, Flasko is an investor social network with a focus on wine and rare champagne speculation. As such, users can take part in lucrative, but normally exclusive, wine investment opportunities from around the world.
The platform already has a solid foundation with enough capital investment to last up to 33 years. Its native token, FLSK, is expected to see growth rates of up to 30,000 percent through 2023. That makes Flasko an even better potential option for many investment portfolios than others on this list, especially if you are into wine culture.
By bringing elements of the food industry into the metaverse, Flasko could convince other producers to approach it in a similar way. We’re very interested to see what happens on this option.
7. FTX Token (FTT) – A Crypto Broker Leveraging Affordable Fees
FTX is the last best new altcoin for consideration on this list. Unlike the other offerings, this one is itself a crypto exchange. It supports over 300 cryptocurrencies for trading and other transactions on its network, including its native FTT. Users can this token to enhance their experience on the network through reduced trading fees and staking capability. You can also use it as collateral for derivatives.
FTT can pose a good investment in itself. The token price rose over 2,290 percent over the last few years, reaching a peak high of around $85. While it no longer trades that high, the platform seems stable, making it a solid long-term investment. It will also put you in a great spot to see huge gains if it sees a rebound over the next year.
Conclusion – Metacade Holds The Most Promise
All seven of these new altcoins are worthy investment opportunities, but some are more clearly destined for greatness more than the rest. While Metacade may be a relative newcomer to the crypto scene, the approach the development team are taking, in creating an expandable platform is groundbreaking to say the least.
We haven’t been able to unearth any other metaverse projects on the same level as Metacade. Although some exist with similar aspirations, there’s nothing out there displaying the same level of sustainable approach they’ve shown so far in reaching their goals to date. We’re very excited to see what comes next.
Each investor has their own take on what investment suits them the best. Whether its pure numbers, market caps, utility, there are really no end to the metrics we can use. Ultimately though, it is the combination of these elements that we have to take on balance – and with utility skewing successful outcomes in its favor, we look forward to watching community-focused projects like Metacade run their course over the next few years.
You can participate in the Metacade pre-sale here.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.