Are you ready to potentially turn a small investment into a fortune? As we head into 2023, the crypto market is heating up, and there's no shortage of layer 1 projects vying for your attention. But with so many options out there, how do you know which ones are worth your time and money? In this video, we'll be taking a deep dive into the top five layer 1 cryptos for 2023 that could make you the next crypto millionaire. From established giants to promising up-and-comers, we'll explore what makes these projects stand out and why they could be the next big thing in the crypto world. Watch this video till the end so you don't miss anything.
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Now, let's get started.
The first layer one crypto for 2023 and beyond that could potentially make the next cryptocurrency millionaires is Ethereum.
We know that some of our viewers like to get more advanced in their cryptocurrency investments, but for those of you who are just starting out, we recommend considering Ethereum as your first buy. Unlike Bitcoin, which is inflationary and prints millions of new coins each day, Ethereum is deflationary and has the ability to stake and earn through liquid staking.
Actually, in a landmark move for the world of cryptocurrency, the supply of Ethereum has been reduced by 66,000 ETH in 2023, according to the information shared by market intelligence platform IntoTheBlock published on March 18.
This comes as a result of Ethereum’s ‘Merge‘ transition to proof-of-stake (PoS) consensus that took place in September 2022. With the new consensus mechanism, a fraction of ETH transaction fees is being burnt. This made Ethereum deflationary.
This means that you can earn a yield on a deflationary asset, which is a dream come true for any investor. And, recently, we saw the completion of the Shanghai-Capella upgrade for Ethereum, and as a result, a lot of money that had been waiting on the sidelines is starting to move. Staking for Ethereum is picking up, and the futures for Ethereum on the Chicago Merchantile Exchange are also on the rise. As we're recording this, gas fees have reached 150 G way, which results in more Ethereum burned and more value created. In our opinion, Ethereum is already the top crypto layer 1, considering all the altcoins and value secured on its platform, and we believe it has the potential to flip Bitcoin in the future. While it may take longer than some of the other layer 1s we mentioned, we believe that Ethereum is a low-risk investment with almost guaranteed returns. So, let's begin our journey with Ethereum.
Our next layer 1 crypto is Solana.
Solana, along with several other altcoins, is often referred to as an Ethereum Killer because many market commentators believe that Solana could one day overtake Ethereum as the leading smart contract platform.
We have been getting really hopped up on Solana lately. If we compare Solana with other blockchains across various metrics such as daily active users, daily active users compared to market cap, and total value secured, Solana comes out on top more than any other blockchain out there right now. We are particularly excited about the launch of the Solana Saga, which is going to be the first big crypto mobile phone with its own app store. This is huge for getting mainstream adoption. The Solana Saga will be set up like a phone that has a secure computing environment in it so users can use it directly as a hardware wallet. This is a game changer in terms of getting mass adoption. With hundreds of thousands of daily active users and a price that is relatively close to its all-time low, we think Solana is a great investment. We believe that we could see a much bigger pump out of Solana than Ethereum. Of course, Solana is a bit riskier than Ethereum, but we think it's worth it. Solana is one of our favorite ways to send USDC from one exchange to another because it has low fees and is super-fast. Between Ethereum and Solana, we are confident that we will get great gains with low risk.
There's no doubt that Solana is one of the hottest cryptocurrencies to buy right now.
The next altcoin we want to focus on is launching on May third. The main net launch is just around the corner, so make sure to mark your calendars. This blockchain is designed to make digital asset ownership fast, private, secure, and accessible to everyone. With approximately 500,000 followers on Twitter, it's clear that this project has generated a lot of interest. It has three core elements that work together to process instant settlement at a low cost, and it will be using a new move language called Parallel Transaction Execution. The name of this altcoin is Sui (SUI), and we believe it has a lot of hype and potential. It will be listed on major exchanges soon, and could be a strong competitor to Aptos. Although the Sui Foundation had initially planned to do an airdrop, they have since changed their plans. In our opinion, this will not hurt the project and may even add more value to the token. The Sui Foundation is doing impressive work with this project, and we are excited for its mainnet launch. We are still looking into this project to see if the token will launch with the mainnet, so make sure to keep coming back to our channel for updates. Sui is a layer 1 altcoin that we have our eye on and are personally looking to invest in, especially early, as there could be a lot of volatility and opportunity.
Let's discuss the number 4 crypto on our list today, which is Cardano and its ADA token. It's a favorite among the crypto community, with a fully diluted market cap of $18 billion and a market cap of 14 billion. Although the price is currently around 40 cents, we've seen it soar to three dollars in the last bull market. We anticipate that it could hit five or ten dollars in the next bull market for several reasons.
When investing, it's crucial to research the person leading the project, and Cardano's founder, Charles Hoskinson, has valuable experience in the industry, having worked on Ethereum. Furthermore, Cardano boasts one of the most extensive and finest crypto communities.
Additionally, Cardano provides low-cost and fast transactions, although not as cheap and fast as Solana. Nonetheless, Cardano offers more through its community, founder, and future prospects. As a top 10 cryptocurrency, Cardano is a must-have investment.
Another aspect we adore about Cardano is that you can hold your own cryptocurrency, stake it, and earn 4 to 6%. Although investing in crypto comes with risks, staking ADA lowers the supply on the market, which could lead to a price surge in the next bull market.
To summarize, Cardano is a layer one crypto that is frequently overlooked but has the potential to be a hidden gem. And that’s the last one of today's list.
With that being said, we hope we were able to provide some value and helped you to move a step ahead in your crypto journey Be sure to check out our Crypto Brand called Cryptopreneur, get yourself the highest quality Crypto Merch available right now on the market, and make sure to subscribe so that you don't miss out on any of our content. Till next time, Goodbye.