- Aptos, Optimism and ApeCoin emerged as some of the best debuts of 2022, exploding by as much as 470% to date.
- Popular crypto investor Lark Davis listed altcoins that could potentially 100X this year.
- The list included potential tokens from Sei Network, Shardeum and Sui Network.
While Bitcoin is still widely considered the safest investment when it comes to cryptocurrencies, over the last few years, altcoins have also emerged with solid potential. The likes of Solana and MATIC have raised the interest of investors, leading them to look for more options. Some of such cryptocurrencies can be found listed below.
Look out for these coins in 2023
According to crypto investor Lark Davis, akin to SOL and MATIC, many altcoins releasing in 2023 also have the potential to return 100X. While none of the cryptocurrencies mentioned have been released yet, most of their networks have an active testnet.
Debuting in 2023, Shardeum is an Ethereum Virtual Machine (EVM) based L1 that uses dynamic state sharding to achieve linear scalability. Expected to run 100,000 transactions per second at the lowest, the network is expected to charge minimal fees.
The Shardeum network’s testnet is live and has been built by the founder of one of the biggest cryptocurrency exchanges in India, WazirX.
Developed by former Facebook employees, Sui Network, according to Davis, has the potential to be a competitor to Aptos. Pitched as the first permissionless Layer 1 blockchain designed from the ground up, Sui Network will be targeting web3 developers.
The testnet for the network is currently live and is expected to have token incentives for investors.
Hailed as the first sector-specific Layer 1 blockchain, Sei Network is specialized for trading. Built for exchanges, the network boasts handling 22,000 orders per second with over 850,000 users on its active testnet.
Sei Network token’s airdrop has been confirmed, and the network is also backed by the likes of Coinbase, giving it a potential edge.
Altcoins from 2022 that made it big
Among the many cryptocurrencies launched last year, a few caught investors’ eye and proved their potential despite the crippling crypto market. Aptos, ApeCoin and Optimism were such altcoins.
While since its launch in October 2022, Aptos has grown by just 50%, most of this growth took place in the last two months. Starting 2023, the cryptocurrency shot up by nearly 470% to mark an all-time high of $18 before APT slipped to trade at $13.50 at the time of writing.
APT/USD 1-day chart
Optimism, launched in June 2022, faced a severe decline in value right after its debut, falling by more than 82%, but it rallied soon after. Facing some turbulence throughout Q3 and Q4, OP managed to chart a 450% increase to date. While the all-time high is at $3.096, the altcoin is currently trading at $2.480.
OP/USD 1-day chart
Lastly, ApeCoin also emerged as a major cryptocurrency despite not charting increases as significant as the above-mentioned assets. APE first witnessed bullishness after its launch in March 2022 due to being the first NFT token, rising by nearly 200% but fell soon after as the crypto market crashed in May.
APE/USD 1-day chart
Consequently, since its debut, the altcoin has lost more than 30% of its value and is currently trading at $5.69, far below its all-time high of $23.17.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.