The bulk of the cryptocurrency market entered 2023 with a great deal of optimism, as the majority of its crypto assets began showing good outcomes on charts spanning several timeframes.
In the final days of January, we pick these top 5 cryptos that have a strong potential to increase by double-digits, or even more. Prices are all based on Coingecko monitoring.
Aptos (APT) has gained 127% over the past week and 440% over the previous month. This obscure and relatively new token is currently trading at $17.93, which is remarkable given that it was valued less than $4 a month ago.
Aptos, which debuted in October 2022 amid much fanfare and criticism, has a market capitalization of slightly over $2 billion, making it the 35th most valuable cryptocurrency network.
Multiple signs imply that a great deal of market observers did not anticipate Aptos’s market success. Nonetheless, APT established itself as one of the market’s top performers, with further price growth likely as February begins.
The price of Bitcoin is currently over 36% higher for the month of January, fueled by increased optimism surrounding the leading cryptocurrency.
At the time of writing, BTC is trading at $22,946, an increase of roughly 9% over the previous week. As anxieties of FTX contagion and rising interest rates dissipate, the quick bounce in BTC/USD pushed prices above $22,000 before they stabilized.
Using historical precedent as a reference, BTC could be poised for a significant price increase, as the recent uptrend resembles the mid-2019 bullish resurgence that saw the price grow by about 250%.
Third on our top 5 cryptos list is Cardano. At the time of writing, ADA was trading at $0.3791, up nearly 12% in the last seven days. Despite the asset’s price being down 88.33%, many are confident that the debut of Djed stablecoin next week would provide the necessary bump to $1.
The update to Cardano’s blockchain is the latest in a long line of enhancements that have made it one of the most competent layer-one networks in the cryptocurrency industry.
While technicals alone show that ADA (along with the majority of the market) has been overdue for a significant comeback for quite some time, its underpinnings also point to continuous price increases this year.
The controversial ApeCoin, which received a great deal of negative press during its inception and throughout 2022, has posted a 32% gain over the past week.
APT is currently trading at $6.35, representing a 4.7% price rise over the previous 24 hours.
The price of ApeCoin has fluctuated between $5.35 and $6.0 since January 23. However, APE surpassed the range and touched $6.40 after BTC crossed $23.5K.
Crypto total market cap at $994 billion on the daily chart | Chart: TradingView.com
We round up our top 5 cryptos with Fantom. The value of Fantom and its native token FTM has increased by nearly 51% during the past week.
This growing spurt is related to the Fantom Foundation’s recent revelation that Axelar will enable interchain connectivity for the platform and its broader Web3 ecosystem.
Fantom welcomed 2023 by instituting frequent pricing rallies. In the previous month, the price has climbed by 90% to $0.3871.
Around middle of this month, the value of FTM fell and appeared to be reversing course, but it has since recovered and trading volume has surged.
Featured image from Freepik