Most of 2022 has passed, and it is not so long until the new year 2023. A bear market is raging in the market. Someone predicts that the Bitcoin price will be $5,000, and someone believes in a rebound at $10,000. We invite you to consider the top most promising cryptocurrencies for this and next year. Which tokens are worth buying? Are there tokens that have a strong foundation for growth? Which ones are most likely to survive the bear market?
Risks of Crypto Investing
First, we must remember that cryptocurrencies are not a traditional financial market. They sometimes behave atypically. For example, in the past, economic instability generated demand for cryptocurrencies. Today, the situation is reversed — instability in the world gives an echo in the form of the collapse of the cryptocurrency market.
You should also not pay attention to the information noise. Most often, prominent market participants are bought on negative news, as the on-chain indicators of cryptocurrencies tell us.
The main rule for traders is the rule of weighing all risks. Studying projects independently, evaluating them, evaluating their prospects, and adequately diversifying your portfolio is always necessary. It is better to choose a project based on powerful fundamental data than to buy a portfolio of many shit tokens.
Best Winter Crypto Tokens in November 2022
BNB is among the top 5 largest tokens by capitalization. Who doesn’t know about the Binance crypto exchange? So, it was it who released this token. Unlike Ethereum or Bitcoin, this cryptocurrency is developing very powerfully and in all directions simultaneously. The company has been building a whole ecosystem of products where everyone will find something for themselves — for example, crypto exchange, staking, P2P exchange, and decentralized applications.
Binance is the largest crypto platform in the world, which has an incomparable fundamental value. The token also has interesting mechanics for controlling prices toward constant growth:
- Binance launchpads. Launchpads enable early purchases of new tokens. But participation requires the purchase of BNB. This gives an incentive for purchases, so in moments of bright launchpads, the BNB rate, as a rule, rushes up;
- The overflow of small deposits into BNB with one button: also generates demand for BNB;
- Aggressive burning mechanism: the token is actively burned, and burning is always a signal for long-term growth.
BNB is an actively developing token and the closest competitor of Ethereum. The project also has its own blockchain network Binance Smart Chain. This boosts BNB, and the token will likely give investors large percentages of profits in the future.
ETH is the second promising cryptocurrency on the list. Ethereum is the leading network for a huge number of tokens. Binance Smart Chain is an imitation of the Ethereum network. Ethereum, as well as Bitcoin, tells us about the situation of the entire crypto market. The project has a large ecosystem and millions of people in the community. The role of Ethereum in decentralized applications makes investing in a token safe and reliable.
- In September 2022, there was the transition to a new algorithm – PoS, which made Ethereum an eco-friendly, cost-effective, and highly scalable platform;
- The supply decreased by 90%. Such a large-scale reduction will result in a considerable price increase and possibly the growth of the entire crypto market. In addition, the London update has implemented an ETH burning mechanism, which makes the token even more deflationary;
- A huge community. The company has a large support group and, more importantly, a large group of developers who work on the Ethereum protocol.
Blockchain development will allow the token to stay at the top for a long time and slowly go to the highest goals in terms of price and capitalization. There are even supporters of the theory that the capitalization of Ethereum will exceed the capitalization of Bitcoin.
LINK is another token that has entered our top of the most promising cryptocurrencies. This is a project to supply data from various fields to blockchains. It uses the principles of blockchain oracles to work. Chainlink is a pioneer of this niche, so many crypto projects use Chainlink oracles in their activities, which allows us to judge the long-term success of this cryptocurrency.
Visible prospects of the LINK token:
- The project is actively expanding partnerships. This is most important because partners are the basis for delivering data to blockchains. The company’s partnership with powerful organizations such as SWIFT and Google Cloud has become a landmark;
- Interest in the crypto world is growing, including from global businesses. The project can become a bridge between centralized and decentralized finance;
- Data is the gold of our century. And the project allows them to be obtained in industrial volumes in any field. Therefore, the bet on this project can be considered a win-win.
FTT is FTX’s native token, the main element in the growing FTX ecosystem. This is a crypto exchange for professional traders and investors, fully licensed in the United States. In addition, the company is actively working with financial regulators in the USA.
The exchange regularly holds contests and tournaments and distributes bonuses. In addition, FTX launched a $2 billion venture fund in 2022, which further fuels interest in the project’s native token.
The exchange actively warms up the growing interest in cryptocurrencies in the United States and, along with Binance, is one of the most popular crypto trading platforms.
Why you should bet on FTT:
- The popularity of the platform is growing;
- The number of users in the USA is increasing. This is one of the drivers of the company’s growth;
- Good relations with regulators.
Next on the list is the PancakeSwap native token, CAKE. This is one of the most popular decentralized exchanges launched on the Binance Smart Chain. Hosting on the Binance Smart Chain makes the platform fast and cost-effective, which attracts thousands of users and affects the growth of the price of the native token. To date, the platform supports the following operations: the sale and purchase of tokens, a deposit of funds in liquidity pools, farming, the sale of prediction cards, and the lottery. Periodically, contests and trader competitions are held on PancakeSwap. The native CAKE token is used in all ecosystem products: in the payment of rewards for staking and farming, the purchase of lottery tickets, for voting, and much more.
Prospects of CAKE:
- User base growth;
- The popularity of decentralized finance;
- The project has its own high-quality product as a DEX exchange;
- The project enjoys the support of Binance.
Given the explosive growth of the popularity of the DeFi sector and the fact that the exchange uses the popular BSH network, we can safely predict the growth of the number of users of the exchange and, accordingly, the growth of the popularity of CAKE.
The bear market now provides excellent entry points to these fundamentally strong tokens. The projects are collected from various spheres and industries. That is, we can talk about diversification. With SimpleHold, you can safely receive, send, and store the above tokens and more than 200 others. Our service provides two versions of wallets, a browser extension and a mobile app that allows you to manage your assets on the go.
Disclaimer: Notum does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Cryptocurrency is subject to market risk. Please do your own research and trade with caution.