The cryptocurrency market confronted main setbacks in 2022 with a number of destructive headlines impacting firms within the sector and taking down the worth of the main cryptocurrencies. With the crypto business in a bear market, many marvel if the sector will expertise a comeback in 2023 or as a substitute proceed to see declining costs.
Benzinga requested followers which cryptocurrency may outperform in 2023.
What Occurred: Among the many main cryptocurrency tales in 2022 were the falls of Celsius, 3AC, Voyager and stablecoin Tether USDT/USD. The opposite large story that the market remains to be reacting to is the chapter of cryptocurrency platform FTX.
The cryptocurrency market capitalization hit a peak of $2.9 trillion in November 2021, a month that noticed many cryptocurrencies hit all-time highs.
In 2022, the market capitalization of the cryptocurrency sector fell beneath $1 trillion and ended the 12 months beneath $800 billion.
Main cryptocurrencies had been impacted, with Bitcoin BTC/USD, Ethereum ETH/USD, Dogecoin DOGE/USD and Solana SOL/USD among the many largest losers of the 12 months.
Associated Hyperlink: ‚You Can’t Ignore Us. Here We Are‘ — Brock Pierce On Blockchain Hub Davos 2023
Benzinga Ballot: On Twitter, Benzinga asked its followers concerning the cryptocurrency marketplace for 2023. Followers had been requested “which cryptocurrency can have the most effective 2023 return” of the 4 beforehand talked about.
The ballot outcomes had been:
- Dogecoin: 26.7%
- Bitcoin: 38.5%
- Ethereum: 28.7%
- Solana: 6.2%
Main cryptocurrency Bitcoin led the ballot getting 38.5% of the vote, adopted carefully by Ethereum and Dogecoin in second and third place respectively.
Solana trailed the opposite three, getting solely 6.2% of the vote.
Twitter consumer @CEOofX voted for Solana with the thought “Sol merely due to how low it has gone.”
Others on Twitter didn’t like every of the 4 choices.
Consumer @richardallanmcl mentioned “all of them acquired zero in 2023.”
Consumer @UofT2020 requested “why not have the crash as alternative?”
Time will inform which cryptocurrency will prepared the ground in 2023 and Benzinga will proceed offering protection of the sector.
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