Top crypto to watch in 2023: from staking to AI projects

In this article, we will explore Polygon (MATIC), Lido DAO (LIDO), Fetch.ai (FET), and other promising crypto projects to watch in 2023.

2023 has been an exciting year for the cryptocurrency space, with a surge in prices and increased mainstream attention. But with so many coins to choose from and the volatile nature of the crypto market, it can be difficult for you to make informed decisions.

Hence, we’ve selected some coins based on their risk parameters and price volatility while still considering the potential for future growth. By exploring each coin thoroughly, you can decide which coins are worth investing in, what risks to consider, and how to make the most of your investments.

Polygon (MATIC)

Polygon, formerly known as MATIC, is a blockchain platform that aims to provide a scalable and secure infrastructure for decentralized applications (dapps) and ethereum (ETH) compatible blockchain networks.

As of Feb. 13, MATIC was trading at $1.22 with a market cap of $10.62 billion. Since its inception in 2017, MATIC has yielded a return on investment (ROI) of nearly 27,000% and year-to-date (YTD) gains of more than 60%.

Even more interesting is that despite a bearish 2022 for the cryptocurrency market, MATIC’s price action has been trading in a bullish cycle since July 2022. On Feb. 9, MATIC reached a 90-day high of $1.34, suggesting that the rally is far from being exhausted.

Why is MATIC a strong contender for future gains

First, let’s talk about scalability. One of the biggest challenges in the blockchain world is handling many transactions efficiently. This is where Polygon comes in.

By using a technology called “layer 2 scaling,” Polygon can process transactions much faster than Ethereum (ETH) and at a lower fee, making it an attractive option for developers looking to build dapps that require fast, efficient, and cheaper transactions.

Second, with the increasing popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs), the need for a secure blockchain infrastructure has never been higher. Polygon has a strong track record in this regard, with no major security breaches to date.

Additionally, Polygon has a growing community of developers and validators who constantly work to improve the platform’s security.

As more and more developers build dApps on the Polygon network, the demand for MATIC tokens could likely increase. This, in turn, could drive up the price of MATIC, providing a significant return on investment.

Lido DAO (LIDO)

Lido DAO (LIDO) is making waves in the DeFi world as a leading platform for staking and liquidity rewards.

As of Feb. 13, LIDO was trading at $2.32 with a market capitalization of $1.95 billion, making it one of the top-performing coins of 2023, with YTD gains of over 145%.

At the heart of lido’s success is its innovative approach to yield generation for investors. The platform has become a popular choice for novice and seasoned investors by offering high rewards with low risk.

According to DeFi LIama, lido has become the largest ETH liquid staking platform as of Feb. 13, holding a 73% market share. 

Why could LIDO be a top performer in 2023

Investors seeking to generate passive income in the fast-growing world of DeFi are turning to liquid staking as a top option.

Unlike traditional staking, liquid staking allows individuals to earn rewards by staking their crypto assets without locking them up, offering a convenient and flexible solution.

LIDO is quickly emerging as the go-to choice for liquid staking. The platform boasts impressive features such as quick liquidity, low fees, and robust security measures.

Moreover, its tokenomics system rewards all stakers based on their contribution, making it an extremely appealing option for those looking to join the liquid staking scene.

LIDO is expected to grow as more investors seek the benefits of liquid staking. Hence, it could be in for a big price increase soon.

Fetch.ai (FET)

Fetch.ai (FET), an AI-based blockchain platform, has been one of the fastest-growing cryptos over the months, fueled by the recent hype of AI-based tokens.

As of Feb. 13, FET was trading at $0.3786 with a market cap of $310 million. FET has yielded YTD gains of more than 400%.

Why is FET a strong choice for 2023

Fetch.ai is harnessing the power of AI to create a decentralized machine-learning system that can execute tasks with lightning-fast efficiency.

Think of it as the missing piece of the puzzle that connects the dots between blockchain and AI. The seamless integration of these two cutting-edge technologies is set to revolutionize how we do things and unleash a world of new possibilities in various industries.

As we continue our journey into the world of web3, fetch.ai could provide a much-needed framework to help organizations and enterprises navigate this uncharted territory.

Moreover, with the current price trend showing no signs of slowing down, the future looks bright for fetch.ai and its investors.

Proceed with caution

In conclusion, the year 2023 has the potential to be a game-changer for the crypto market. With AI, machine learning, and web3 becoming increasingly integrated into the world of cryptocurrencies, new and more efficient use cases are emerging.

This, combined with the growing mainstream adoption of cryptocurrencies, could result in a significant surge in the market.

However, it’s important to remember that while the future may look bright for crypto, it’s not without its challenges. Governments and financial institutions are still grappling with how to regulate and control cryptocurrencies, and the market remains highly speculative.

Hence, don’t blindly follow the crowd, do your research and invest in cryptocurrencies that you believe in.