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What is the Most Profitable Coin to Trade in 2023

December 29, 2022by Michael Ezeadichie0
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What is the Most Profitable Coin to Trade in 2023

 

Cryptocurrencies have gained widespread popularity over the past decade, with many people turning to digital assets as an alternative investment option. With the increasing adoption of cryptocurrencies, the question on many people’s minds is: which coin is the most profitable to trade in 2023? 

In this article, we will explore the various factors that can impact the profitability of trading different cryptocurrencies, as well as provide some insights into which coins may be worth considering for trading in the coming year. Whether you are a seasoned trader or new to the world of cryptocurrencies, this article will provide valuable information for anyone looking to maximize their profits in the exciting and volatile world of digital assets.

What is the Most Profitable Coin to Trade in 2023

9 Most Profitable Cryptocurrency to Buy in 2023

After researching the digital asset market extensively, we found that the 9 projects below represent the most profitable cryptocurrency to invest in the coming year.

  1. FightOut 
  2. Dash 2 Trade 
  3. RobotEra 
  4. IMPT 
  5. Battle Infinity 
  6. Lucky Block 
  7. Ethereum 
  8. Decentraland 
  9. Dogecoin 

Let’s take a more detailed look at the following profitable coin for 2023:

  • FightOut 

FightOut is a cryptocurrency that aims to reward users for leading an active lifestyle by offering them reward tokens called REPS, which can be redeemed for various perks such as subscriptions, merchandise, and gym memberships. The company is launching its own gyms in major cities around the world, and users can also participate in classes via the FightOut app. The company is also working to sign professional fighters as brand ambassadors and provide masterclass-style training content. Investors who buy FightOut’s $FGHT tokens during the presale will receive bonus tokens based on their investment and vesting period. 

The presale price for $FGHT is $0.016, and FightOut has allocated 90% of its 10 billion token supply to the presale. Once the $FGHT tokens are listed on exchanges in Q1 2023, they have the potential to provide investors with significant profits due to the scarcity of the coins and the increasing demand for them. FightOut has already raised over $2 million in a short period of time, making it a potentially profitable investment for those who act quickly.

  • Dash 2 Trade

The Dash 2 Trade platform is offering a presale of its native cryptocurrency, D2T, with a limited supply of 700 million out of a total of 1 billion tokens. Currently in stage 3 of the presale, D2T is priced at $0.0513 per token, with a predicted increase of 39% to $0.0662 per token by the end of the presale. By purchasing D2T at its current price, investors can access a range of trading tools and features on the Dash 2 Trade dashboard, including technical and social indicators, as well as rankings of upcoming presale projects and alerts for new crypto listings. 

Dash 2 Trade also offers auto-trading features that can be accessed through a monthly subscription of 400 D2T for the starter package or 1,000 D2T for the Premium package. The Premium package currently costs $50, but this price is expected to increase to $62 by the end of the presale. So far, the presale has raised over $6 million.

  • RobotEra 

The RobotEra game project, launched in November, offers multiple revenue streams through its native token, TARO. This play-to-earn game allows players and holders to generate profits in various ways, and the TARO coin is currently on presale for a low price. The first stage of the presale is offering the coin for $0.02, with the price increasing to $0.025 in the second stage and $0.032 in the third and final stage. This means that early investors have the potential to earn up to 60% returns on their investment before TARO is listed on any exchanges, with LBank being a likely destination for its initial exchange offering.

In the RobotEra ecosystem, players can earn TARO by rebuilding the damaged Taro planet, mining minerals, cultivating sacred trees, and adding assets to their metaverse plots of land. The game also rewards players for creating and selling non-fungible tokens (NFTs), and players can submit original works for museum display. In addition, RobotEra allows players to earn a passive income by staking their coins, which is important for restoring Taro according to the RobotEra whitepaper.

Only 15% of the total TARO supply (270 million out of 1.8 billion tokens) is allocated to the presale, so investors should consider purchasing TARO now. 

  • IMPT

IMPT is a profitable crypto project which had a successful start by raising over $12 million in less than a month since launching its presale. Currently in its second stage, tokens are being sold for $0.023, after originally being sold for $0.018. During the third and final stage of the presale, the price of IMPT tokens will increase to $0.028, a 22% increase from the current price and a 55% increase from the first stage.

In addition to profits, IMPT also offers investors the opportunity to receive tokens as rewards for shopping at retailers that are focused on reducing their carbon footprint and making positive environmental contributions. IMPT has established partnerships with numerous organizations that are working to combat climate change. Through the use of IMPT’s social feature, investors and businesses can also track and monitor their own carbon emissions.

  • Battle Infinity 

Battle Infinity is a cryptocurrency that is expected to be highly profitable for traders in 2023. Unlike many other cryptocurrencies, the value of the Battle Infinity token has not decreased significantly during the bear market. In fact, the token has recently been launched and has experienced strong early growth.

The IBAT presale sold out in just 24 days, raising approximately $5 million. After being listed on PancakeSwap and LBank, the coin’s market cap reached $40 million.

IBAT can be traded on both centralized and decentralized exchanges, as well as on the Battle Infinity DEX. There is also a Battle Infinity marketplace where players can trade in-game NFTs that they have earned or purchased. Long-term investors may consider staking their IBAT tokens within the Battle Infinity ecosystem to generate a good return on investment.

As awareness of the project grows and more exchanges list IBAT, the token is expected to experience further growth and bring strong returns for investors.

  • Lucky Block 

Lucky Block is a cryptocurrency that has gained attention for its successful presale campaign in early 2022, which resulted in gains of over 6,000% within a month of launching. However, the market has since corrected and Lucky Block has dipped with the rest of the crypto market. Lucky Block positions itself as an NFT competition platform, offering players the chance to win significant prizes such as a Lamborghini, $1 million worth of Bitcoin, a $1 million property, a luxurious vacation, and VIP tickets to the FIFA World Cup. 

Lucky Block has recently released its LBLOCK V2 coins, an ERC-20 token that allows for easier listing on centralized exchanges and reduces the transaction fee of the V1 token. The CEO, Scott Ryder, has also announced that a 1% monthly burn of the coin will be implemented starting September 30, reducing the overall supply of LBLOCK. LBLOCK can currently be purchased on popular exchanges such as MEXC and LBANK, with more listings in the works.

  • Ethereum 

Ethereum is a well-known cryptocurrency that has a multi-billion dollar market capitalization. Despite this, it could still be a profitable option for investing. When Ethereum held its initial coin offering in 2014, it sold its ETH tokens for slightly over $0.30. In late 2021, Ethereum reached an all-time high of nearly $5,000, resulting in gains of more than 1.6 million percent. While it is unlikely that Ethereum will experience similar gains again, the potential for growth is still high. In the short to medium term, Ethereum seems to have established a base at the $1,500 level. If Ethereum regains its previous all-time high, this would offer an upside of about 230%. There are several positive aspects to the future of this project. 

Currently, there are thousands of ERC-20 tokens that have been built on the Ethereum platform, indicating that Ethereum is often the preferred blockchain for new tokens. Some examples of successful ERC-20 tokens include Shiba Inu, Decentraland, and Uniswap. In addition, Ethereum will eventually transition to a proof-of-stake consensus mechanism, which is expected to significantly reduce transaction fees and make Ethereum more appealing for new projects. The proof-of-stake upgrade will also increase Ethereum’s scalability, with a target of 100,000 transactions per second.

  • Decentraland 

Decentraland is a virtual world built on blockchain technology that allows users to explore immersive experiences, socialize with others, and engage in activities such as virtual concerts and casinos. The platform allows users to purchase virtual land within the Decentraland metaverse, represented by unique NFTs (non-fungible tokens) on the Ethereum blockchain, which can be stored in a crypto wallet or traded on an online marketplace. Some market commentators believe that Decentraland has the potential to be a highly profitable cryptocurrency to invest in, particularly for those interested in metaverse coins. Decentraland’s native token, MANA, is currently trading at a price that is 85% lower than its all-time high, making it a potentially attractive investment opportunity.

  • Dogecoin

To become a profitable investment, a cryptocurrency often needs to generate significant buzz. With over 20,000 tokens currently in circulation according to CoinMarketCap, the cryptocurrency market is very crowded. One cryptocurrency that may be worth paying attention to is Dogecoin, which has a large online following. Dogecoin was launched in 2013 and was trading at just $0.0002 per token at the time. 

In early 2021, the value of Dogecoin soared after it was endorsed by Tesla CEO Elon Musk through a series of tweets. The token peaked at $0.74 later that year, resulting in a massive increase in value of nearly 370,000% compared to its 2013 price. Tesla recently sold 75% of its Bitcoin holdings to raise capital, but did not sell any of its Dogecoin. At the moment, Dogecoin is trading at a discount of over 90% compared to its high of $0.74, making it an attractive option for those looking to join the Dogecoin hype.

 

How Do I Select the Most Profitable Cryptocurrency?

Selecting the most profitable cryptocurrency can be a difficult task, especially since many cryptocurrencies have experienced significant price fluctuations since the beginning of the bear market. However, there are a few strategies you can use to help identify potentially profitable cryptocurrencies. 

Here are some of the factors you need to consider in other to choose the most profitable cryptocurrency:

  • Project Concept and Roadmap

One key factor to consider when looking for the most profitable cryptocurrency is the underlying concept and roadmap of the project. A good example of this is Bitcoin, which was the first decentralized payment system using blockchain technology when it was created in 2009. Since then, it has gained widespread adoption and even reached a market capitalization of over $1 trillion. Another example is Dash 2 Trade, which aims to build a platform to help cryptocurrency traders and investors maximize their returns. It is also crucial to research the project’s roadmap to see if it is on track to achieve its goals as outlined in the original whitepaper.

  • Focus on Projects With a Huge Discounted Price

Another great strategy for finding potentially profitable cryptocurrencies is to look for strong projects that have experienced a significant drop in value due to bear market conditions. For instance, Ethereum was trading at nearly $5,000 before the bear market hit, and although prices have partially recovered, Ethereum reached lows of around $1,000 in the first half of 2022. If the token were to return to its previous highs, those who purchased Ethereum at this lower price could potentially see a medium-term return of around 400%.

  • Review the Number of Token Holders

One way to identify potentially profitable cryptocurrencies to invest in is to evaluate the number of individual wallets that hold the token. A large number of holders may indicate a strong and active community around the project, which can increase its exposure and potential for success. 

On the other hand, a cryptocurrency with a high market capitalization but only a small number of holders may be controlled by a select group of people, such as the development team or a few large investors (known as “whales”). It may be advisable to avoid investing in these types of projects. An example of a cryptocurrency with a large number of holders is Shiba Inu, which has over 1 million individual token holders and a significant online following.

 

When is the Best time to Buy a Cryptocurrency? 

When looking to maximize profits from cryptocurrency investments, it is important to consider not only the most promising cryptocurrency to buy, but also the best timing for the purchase. Here are some factors to consider when deciding when to buy cryptocurrency for the highest profit:

  • Presales

One of the most effective ways to buy cryptocurrency for maximum gains is to participate in a presale. Presales allow newly launched cryptocurrency projects to raise capital from investors in exchange for discounted prices on their native tokens. For example, Ethereum’s fundraising campaign in 2014 offered ETH at just $0.30 for early investors. Currently, some promising presale opportunities include Battle Infinity and Tamadoge.

  • Bear markets

Another good time to buy cryptocurrency for potential high gains is during an extended bear market. Even the most solid projects with strong fundamentals can see the value of their tokens decline significantly during bear markets, which often affects all cryptocurrency tokens. This can provide an opportunity to build a portfolio of high-quality crypto tokens at an attractive entry price.

  • Market corrections

Market corrections differ from bear markets in that they are typically shorter-lived. A market correction occurs when a cryptocurrency has experienced a prolonged upward trend and investors are looking to sell their gains. However, after a correction, the cryptocurrency may continue its bullish trajectory. For example, after a correction in September 2021, Bitcoin went on to reach new all-time highs of over $68,000, providing potential gains of over 65% for those who entered the market during the correction.

 

Bottom Line 

Predicting the most profitable coin to trade in 2023 can seem like a difficult task due to the volatile and constantly changing nature of the cryptocurrency market. However, if you take the right factors into consideration, your chances of trading a profitable coin will greatly increased. Also keep in mind that trading Cryptocurrencies comes with a certain level of risk. Therefore, set your maximum risk level as you trade. 


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