Cryptocurrency investors are always looking for the next big altcoin that will give them massive returns. But with over 19,000 cryptocurrencies in existence, how do you know which are worth investing in?

This extensive guide will highlight the top 15 altcoins that are poised for growth in 2023 based on their technology, teams, roadmaps, and adoption potential.

Key Takeaways:

• Ethereum, Cardano, Solana, and Polkadot lead as platforms for DeFi and Web3 development.
• Exchange tokens like BNB and exchange-based blockchains like XRP have solid utility value.
• Smaller cap coins like NEAR Protocol and Algorand have exciting tech with room to grow.
• Meme coins DOGE and SHIB still have strong community support and adoption.
• Newer coins like APECoin and GMT have quickly built hype and demand.

Now let’s dive into the top altcoins to watch closely this year.

Top Platform Cryptocurrencies

Platform cryptocurrencies aim to provide an ecosystem for decentralized apps and services to be built on top of them. They are the foundation for the broader DeFi and Web3 movement.

1. Ethereum (ETH)

As the second largest cryptocurrency behind Bitcoin, Ethereum is the most proven and widely adopted smart contract platform. Key advantages of Ethereum include:

• Massive DeFi and NFT ecosystem with over 3,000 DApps
• Transition to Proof of Stake will make Ethereum more scalable and sustainable
• Leading developer community provides confidence in roadmap execution
• Brand recognition makes it easy to attract new projects

However, high gas fees and network congestion remain challenges for Ethereum. The long-awaited move to Ethereum 2.0 aims to fix these issues and cement Ethereum’s dominance.

2. Cardano (ADA)

Known for its academic approach and peer-reviewed research, Cardano aims to create a secure and scalable blockchain platform. Key features include:

• Novel Ouroboros Proof of Stake consensus enhances security
• Development roadmap focused on multi-layer architecture for scalability
• Strong leadership under founder Charles Hoskinson
• Expanding ecosystem with focus on DeFi and real world use cases

Cardano’s methodical approach can be both a pro and con as development moves slowly. But it remains one of the top smart contract platforms to watch.

3. Solana (SOL)

Solana prioritizes scalability and fast transaction speeds above all else. With capabilities of over 50,000 transactions per second, Solana has quickly become a leading Web3 ecosystem. Considerations for Solana:

• The fastest major blockchain available today
• Low fees encourage adoption for DeFi and NFTs
• Criticisms of centralization could limit institutional investment
• Network outages raise questions on stability

Backed by Sam Bankman-Fried of FTX, Solana is still early stage with much room for ecosystem growth.

4. Polkadot (DOT)

Polkadot aims to serve as an internet of blockchains, allowing varied networks to exchange information and transactions through Polkadot’s relay chain. It offers:

• Advanced interoperability not found in older platforms
• Parachains offer custom blockchains with shared security
• Strong technical focus and developer community
• Building key partnerships to expand Web3 ecosystem

The complex proprietary technology can slow development. But Polkadot’s vision makes it a leading next-gen platform.

Top Exchange Tokens

Cryptocurrency exchanges have grown quickly and become crucial to the ecosystem. Exchange tokens provide utility and discounts for traders.

5. Binance Coin (BNB)

As the native token of crypto exchange giant Binance, BNB offers unique value propositions:

• Biggest utility as payment method across Binance’s trading platform
• Cheaper trading fees for Binance users
• Expanding ecosystem including Binance Smart Chain
• One of fastest growing exchanges suggesting healthy future demand

Criticisms of centralization are valid, but BNB’s entrenchment in crypto makes it less risky.

6. FTX Token (FTT)

The FTX exchange founded by Sam Bankman-Fried has rapidly risen to prominence. FTT generates demand via:

• Discounts on fees for FTX exchange and FTX NFT marketplace
• Staking rewards for holding long term
• Strong investment interest after FTX’s ascendancy
• Young founder is well-respected and connected in crypto

FTX is still building its brand recognition, but its innovation makes FTT a top exchange token pick.

Promising Scalability Focused Altcoins

With DeFi and Web3 projects expanding, cheaper and faster transactions are needed. These altcoins specifically aim to meet the demand for better blockchain scalability.

7. Ripple (XRP)

Ripple distinguishes itself with a focus on facilitating cross-border payments and remittances. It offers:

• Much faster and cheaper global payments compared to legacy systems
• Strong RippleNet ecosystem of institutional partners
• Key Utility rather than just speculation
• Legal issues could hamper SEC litigation

If XRP can move past its legal woes, its payment utility gives it room to run.

8. Polygon (MATIC)

Polygon serves as a Layer 2 sidechain solution that helps scale Ethereum blockchain transactions. Benefits include:

• Makes Ethereum transactions faster and cheaper
• Vibrant ecosystem of Ethereum-compatible DApps
• Transaction volume rapidly growing on Polygon
• Ultimately depends on Ethereum network effects

Polygon is one of the top Layer 2 solutions to boost Ethereum’s capabilities.

9. Algorand (ALGO)

Algorand utilizes a unique Pure Proof of Stake consensus that enhances security, stability, and scalability. It offers:

• Sustainable high transaction throughput of 1,000+ TPS
• Active ecosystem development program to support DeFi
• Founder Silvio Micali is renowned MIT cryptographer
• Still lacks brand recognition and major partnerships

Algorand’s technology makes it one of the most promising blockchain platforms available.

Smaller Cap Cryptocurrencies With Growth Potential

Higher risk but higher reward altcoins that are newer or have lower market caps today compared to other major projects.

10. NEAR Protocol (NEAR)

NEAR Protocol is a community-driven blockchain for decentralized apps and smart contracts. It provides:

• Fast 1,000+ TPS speeds and low fees
• Developer-friendly environment and active community
• Growing ecosystem of DApps choosing NEAR over Ethereum
• Less proven track record and adoption than larger platforms

NEAR’s tech and community make it one of the top up-and-coming smart contract platforms.

11. Chainlink (LINK)

Chainlink has established itself as the leading decentralized oracle network provider in crypto. It offers:

• Critical real-world data feeds needed to expand DeFi
• Extensive list of partners including Google and Oracle
• First mover advantage in a niche with high barriers to entry
• LINK token is speculative and dependent on project success

Oracles like Chainlink are blockchain infrastructure plays with big potential.

12. Tezos (XTZ)

Tezos is a self-upgradable Proof of Stake blockchain with on-chain governance. It provides:

• Formal on-chain governance system avoids hard forks
• Upgrades enable new features without disruption
• NFT and DeFi ecosystem growing on Tezos
• Brand recognition lacks behind other platforms

With strong fundamentals and community, Tezos seems undervalued compared to competitors.

Top Meme Cryptocurrencies

Meme coins lack substantive utility but have cultivated strong brand followings that bolster their value.

13. Dogecoin (DOGE)

The original meme coin has shown surprising staying power. DOGE benefits from:

• Grassroots community engagement since 2013
• Adoption for tipping and donations
• Elon Musk’s repeated endorsements
• No real development activity beyond community

With no limits on token supply, DOGE likely needs celebrity backing to sustain gains.

14. Shiba Inu (SHIB)

Capitalizing on the Dogecoin hype, SHIB saw huge growth in 2021. It has:

• Strong community engagement and marketing
• Growing ecosystem of token projects
• Listed on major exchanges like Coinbase and Binance
• Declining interest without new catalysts

SHIB remains purely a speculative play reliant on hype.

New Cryptocurrencies With Early Traction

Some of the newest coins that have seen immediate growth and adoption in 2022.

15. ApeCoin (APE)

The token of the Bored Ape Yacht Club NFT collection has quickly amassed demand. Catalysts include:

• Strong connection to brand with mass appeal
• Early announcements of metaverse, gaming integrations
• Sparse token supply and speculation has driven up price
• Highly volatile as interest could quickly fade

Celebrity connections make ApeCoin one to watch closely.

16. STEPN (GMT)

This “move-to-earn” application rewards users for physical activity. It is seeing fast uptake for:

• Novel concept combines fitness and crypto rewards
• Launched play-to-earn mechanics before competitors
• Investors betting on growth of Web3 fitness metaverse
• User interest and token demand could drop long-term

GMT benefits greatly from first mover advantage in a new crypto niche.

Conclusion

This guide highlighted crypto assets with technology, adoption, and fundamentals that position them for potential growth in 2023 and beyond. However, altcoin investing remains very speculative.

Always do your own research before investing and never allocate more than you can afford to lose. Diversification will help mitigate the volatility inherent in crypto markets.

With prudent strategies, the altcoins profiled above offer among the most favorable risk-reward ratios for investment today. We hope this resource helps inform your crypto investing as you build your portfolio.