Following a report on some of the biggest Whales in cryptocurrency, many people in the crypto community have begun following their lead. The wallets of 6 of the biggest crypto investors, whose total holdings combine to make up a shade under $500 million, were released. Based on these findings, as well as other research, we have compiled a list of the Top 7 cryptocurrencies to look out for as 2023 begins to come to a close.
Note: Tether (USDT) makes up a small percentage of holdings. However, due to its status as a stablecoin, it did not feature on this list. Some notable picks, perhaps unsurprisingly, include the big two of Bitcoin (BTC) and Ethereum (ETH). A new project, which has people talking, and has already raised more than $1.2m in presale, is Scorpion Casino Token (SCORP).
1. Bitcoin (BTC)
As the pioneer of cryptocurrencies, Bitcoin serves as a digital store of value. Recognized for its decentralization and limited supply, BTC remains a popular choice for investors seeking a hedge against inflation and a reliable long-term asset.
2. Ethereum (ETH)
Ethereum revolutionized the crypto space by introducing smart contracts and decentralized applications. ETH’s primary utility lies in powering the Ethereum Virtual Machine (EVM), enabling developers to build various applications, including decentralized finance (DeFi) and NFT platforms.
3. XRP
XRP is designed for efficient cross-border payments, emphasizing speed and cost-effectiveness. As a digital payment protocol, XRP aims to transform international transactions, providing a solution for fast and low-cost remittances.
4. BNB
BNB powers Binance Smart Chain (BSC), enhancing transaction speed and reducing fees within the Binance ecosystem. It serves as a utility token for various applications within the Binance exchange, including trading fee discounts and participation in token sales.
5. Scorpion Casino Token (SCORP)
Scorpion Casino Token is the only project on this list that is still in its presale. With features like daily passive staking income, and regulatory compliance from Curacao EGaming, SCORP provides a deflationary tokenomics model, differentiating it within the gaming-focused cryptocurrency landscape. Crucially, for a limited time only, the code SC20 will get buyers 20% extra in SCORP tokens.
6. Cardano (ADA)
Cardano focuses on scalability, sustainability, and interoperability, aiming to bring decentralized finance (DeFi) to the masses. Its multi-layered architecture and commitment to academic research set it apart, providing a robust foundation for smart contracts and DeFi applications.
7. Shiba Inu (SHIB)
Shiba Inu gained attention as an experiment in decentralized community building. It operates within the Ethereum ecosystem, offering tokens like SHIB, LEASH, and BONE. SHIB gained popularity through its decentralized exchange, ShibaSwap, and its mascot, the Shiba Inu dog breed. SHIB has slipped down the rankings in 2023 but its community, the SHIBArmy, has proved to be loyal.
Final Thoughts
It’s important to conduct thorough research when investing in cryptocurrencies. Whales may be a good indication of where the big money is being spent. Simultaneously, however, whales often have the most to lose and for small to medium investors, this strategy may not work for everyone. That being said, all 7 of the above picks are strong contenders to have a very positive end to the year and the beginning of the next.
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Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
