- Investor interest in the altcoin market is growing as they seek out potentially powerful blockchain projects.
- We have highlighted three projects that will see significant growth in 2023.
Altcoins underwent a major correction during the crypto winter of 2022, but played a positive role during several rallies and recoveries. As we enter 2023, altcoins will continue to attract investor attention.
Top-tier altcoins such as Ethereum (ETH), Polygon (MATIC), Cardano (ADA), XRP and Chainlink (LINK) are always on the radar of investors. But today, we will be discussing three pocket-friendly altcoins that are currently available for under $1 and have the potential to go big in 2023.
1. Oasis Network (ROSE)
One of the core principles of the Oasis Network is to provide privacy and scalability to cryptocurrency investors. Oasis has a strong position in the decentralized finance (DeFi) market and can offer high yields in the developing sector of the blockchain industry.
One of Oasis Networks’ value propositions is to offer private smart contracts. We can therefore offer protected lending along with automated private market formation. Additionally, the project offers greater scalability and the ability to tokenize data from different participants in the decentralized finance (DeFi) space. As a result, he has great potential to stand out among other DeFi players.
Oasis Network’s native cryptocurrency is ROSE. This crypto plays a key role in transaction fees and delegation at the consensus layer. Additionally, ROSE token holders can also wager cryptocurrencies to generate additional passive income.
Oasis Network is also focused on improving the usability of Web3. In 2023, Oasis Network may also unveil his layer of privacy, Sapphire, which users can use as Layer 1 or Layer 2.
2. ImmutableX (IMX)
ImmutableX is a layer 2 blockchain network with a specific focus on scalability to non-fungible tokens (NFTs) on the Ethereum (ETH) network. ImmutableX therefore allows developers and creators to leverage Ethereum security in a simple, scalable and limitless way.
The ImmutableX network claims to support around 9,000 transactions per second. Additionally, issuing and trading NFTs with Immutable has zero cost. To achieve this scalability, Immutable uses STARK zk-rollups. This allows you to perform off-chain computations and provide storage even when funds are held in smart contracts.
Users can earn passive profits by staking Immutable’s native crypto IMX. Another use for IMX is a governance project where IMX holders can contribute to the development of Immutable by voting on proposals that benefit the project.
One of the big things about ImmutableX’s development in 2023 is its entry into the very exciting blockchain sector, Zero Knowledge Proofs. This is why ImmutableX is partnering with Outlier Ventures to help and accelerate startups that want to build more in this space.
ImmutableX’s native crypto IMX is currently trading at a price of $0.4623 and a market cap of $338 million.
Third on the list is the Mina protocol, which focuses on improving the efficiency of running decentralized applications (DApps) while reducing computational requirements.
The Mina protocol provides zero-knowledge powered smart contracts, also known as zkApps. They give users control over their privacy by verifying and sharing data evidence. All of this without the need to process information to a centralized entity.
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MINA is the native token used for payments in the protocol. It also serves as an incentive for block producers and as a reward for workers responsible for transaction validity. Users can also use her MINA tokens to interact with her Snapps, a decentralized application made with Mina.
The main USP of the Mina protocol is that it is only 22KB in size, providing good scalability and easy access on smartphones. Currently, the MINA token is trading at a price of $0.5274.
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