MARKET in 2023
In early 2022, signs of a decline became apparent.
Bitcoin price from the peak of nearly 68,000 USD in November 2021 has continuously dropped and by mid-December, it was only around 17,000 USD, or 70% of its value. Some analysts believe that this token may even drop below 10,000 USD.
A series of thefts took place, the fear index of crypto players skyrocketed, and large companies suddenly went bankrupt making 2022 a bad year for the crypto market.
On the night of March 29, Sky Mavis – a Vietnamese technology unicorn – opened a series of bad days for the global cryptocurrency market when it admitted that hackers attacked the Ronin bridge and took away 625 worth of digital money. million dollars at that time. When the hacker stole the equivalent of 611 million USD in digital currency before giving it all back.
FBI into the investigation, Sky Mavis announced that it would compensate the victim, but that was not enough to keep users. Statistics from Active Player show that from 2.7 million monthly users in January 2022, up to now this Vietnamese game has more than 460,000 users per month.
Bitcoin and Ethereum
While blue chips like Bitcoin and Ethereum have proven their staying power, there are still many tokens that are likely to outperform in the next bull market. Using metrics like whale accumulation, TVL, and protocol fees, the Chain Debrief team (a group of prominent analysts from Singapore) has identified a number of tokens that have the potential to increase sharply in 2023. Here are the 8 most interesting tokens in 2023, and they have been classified by risk group.
NFTGAME.TODAY will work with you to learn and evaluate tokens based on price and risk.
 RISK 2/10
Ethereum (ETH), Solana (SOL), Polygon (MATIC).
 RISK 5/10
Lido Finance (LDO), Rocket Pool (RPL), Immutable X (IMX)
RISKS 7/10
Conflux (CFX), Level Finance (LVL)
8 POTENTIAL – TOKENS IN 2023
Ethereum (ETH)Â
Ethereum launched the Shapella hard fork on April 12. This is a pivotal time to garner institutional interest in ETH.
ETH’s deflationary token is also a strong story of its eventual rise in this and the next.
From hacker efforts to multiple outages and now-defunct exposure to FTX, Solana has truly weathered many storms and headwinds.
ADVANTAGE: Its resilience can be attributed to its focus on low cost, high speed, and scalability.
The price of SOL has more than doubled from its December 2022 low of $9.75, a testament to its staying power.
Polygon not only has a comprehensive DeFi ecosystem but also has a number of partnerships with global brands such as MasterCard and Samsung.
Polygon’s zkEVM has raised $3.9 million in TVL since completing the beta main net launch on March 27, 2023, which is an optimistic signal for MATIC.
Lido Finance needs no further introduction, it is expected to outperform Ethereum (ETH) as it offers a significantly higher 6% APY for ETH token staking compared to direct ETH staking.
PROS: the rise in popularity around staking ETH and Lido is one of the main beneficiaries of that trend.
As a competitor of Lido, Rocket Pool’s TVL has grown by more than 20% and is now at $1.37 billion. This makes it the third largest liquid staking platform, behind only Lido and Coinbase.
In the five consecutive days following Ethereum’s Shapella Upgrade, RPL surged over 48% to hit a high of $61.21.
Most recently, Rocket Pool also launched a major upgrade that gives node operators instant access to their staking rewards and lowers their mini pool entry barrier. Node operators now accept ETH staking amounts of just 8 ETH, compared to 16 ETH in the past.
PROS: Rocket Pool users can stake any amount of ETH and receive a liquid staking derivative token called rETH. Thus, these mini pools and rETH provide an opportunity for users with less capital to join and earn rewards that would otherwise not be possible.
Immutable X (IMX)
Immutable X has been recognized as the leading L2 platform for Web 3 games.
ADVANTAGE: IMX has been accumulating IMX tokens non-stop since November 2022.
This accumulation is mainly driven by two main stories, Web 3 games, and ZK compilations. Immutable X has partnered with StarkWare to use ZK technology to accelerate the network.
In terms of tokenomics, the circulating supply of IMX has been designed to encourage long-term and sustainable growth. 2 billion $IMX tokens will be gradually unlocked for different user groups.
Conflux (CFX)
Conflux is the only regulatory-compliant public L1 blockchain in China that has partnered with global brands such as China Telecom, McDonalds China and Oreo on blockchain and metaverse initiatives.
CFX is one of the best tokens this year, the platform of the project burned almost 500 million FX tokens to make it less inflationary.
Level Finance (LVL)
Level Finance is a decentralized and non-custodial perpetual exchange on the BNB chain with a superior liquidity and risk management solution.
Although this microcap has a low TVL, it has consistently generated the highest revenue and achieved a high level of success in incentive rewards despite the bear market, which is definitely a must attention!
Choose reputable tokens that have endured through the bear market.
And don’t forget to take the time to do your own research!
