Top 10 Crypto Assets by Their Monthly Returns in 2023

Here are the top ten cryptocurrencies that are worth investing in 2023

Using blockchain technology, a cryptocurrency is a digital asset that can be used for transactions without the control of a bank or government. There are now 24,630 cryptocurrency projects active on the market, expected to grow to US$4.94 billion by 2030. There are dozens of cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether, making it difficult to get started when you’re new to the field. Here are 10 crypto assets that have high returns in July 2023.

1. Bitcoin: As Bitcoin has gained popularity, its price has risen. You could purchase Bitcoin for roughly US$500 in May 2016. Since then, Bitcoin has had several ups and downs, but it has exhibited exceptional resistance. Bitcoin dropped 65% of its market value last year.

2. Solana: Solana was created to support the usage of decentralized finance (DeFi), decentralized applications (DApps), and smart contracts. It operates on a unique hybrid proof-of-stake and proof-of-history system that aids in transaction speedy and safe processing. The native token of Solana, SOL runs the platform. SOL’s pricing started at US$0.77 when it debuted in 2020. Its cost was around US$101 on March 1, 2022, an increase of almost 13,000%.

3. Polkadot: The 2016-founded Polkadot (DOT) blockchain interoperability protocol was created to link several chains together. Gavin Wood, the principal architect of Ethereum, developed Polkadot. The intriguing aspect of DOT is that there is no strict cap on the total supply. Instead, a fresh token is always being distributed. The price of Polkadot peaked in May 2020 at US$6.30, afterward reached an all-time high of US$55.11 in May 2021, and then fell to around US$4 in December 2022.

4. Ethereum: Because of its possible uses, including so-called smart contracts that automatically execute when certain conditions are fulfilled and non-fungible tokens (NFTs), Ethereum is both a cryptocurrency and a blockchain platform. Ethereum has also grown relatively fast. Its price increased by more than 27,000% from roughly US$11 to over US$3,000 between April 2016 and the beginning of March 2022. Ethereum, however, fell to an annual low of US$1,091 on November 9, 2022.

5. Binance Coin: You can trade and incur fees on Binance, one of the biggest cryptocurrency exchanges in the world, using the Binance Coin cryptocurrency. In 2017, BNB cost only US$0.10. Its price increased to nearly US$413 by March 2022, a gain of around 410,000%.

6. Tether: Tether is a stablecoin, which means fiat currencies back it like U.S. dollars and the Euro, and theoretically maintains a value equal to one of those denominations, in contrast to other types of cryptocurrencies. As a result, investors who are cautious of the severe volatility of other coins choose Tether since its value is theoretically expected to be more stable than that of other cryptocurrencies.

7. Litecoin: Charlie Lee, a former software developer for cryptocurrency exchange Coinbase, invented the open-source blockchain project Litecoin (LTC), which was introduced in 2011. The overall round-off supply of Litecoin is 84 million coins. It reached an all-time high of US$413.47 in May 2021 but fell by more than 50%. The number of businesses accepting Litecoin is rising. It ranks as the 11th-largest cryptocurrency globally, with a token value of around US$87.

8. Cardano: Cardano stands out for using proof-of-stake validation early on. Like Ethereum, Cardano uses ADA, its native token, to power smart contracts and decentralized apps. Compared to other significant cryptocurrencies, the rise of the Cardano ADA token has been somewhat muted. The cost of ADA was US$0.02 in 2017.

9. XRP: XRP is a cryptocurrency that may be used on that network to allow trades of many currency kinds, including fiat currencies and other significant cryptocurrencies. It was developed by some of the same founders as Ripple, a digital technology and payment processing firm. XRP was worth US$0.006 at the start of the year 2017.

10. AVAX: The Avalanche blockchain’s native coin, AVAX, provides smart contract capabilities. One of the quickest and most reliable smart contract systems in the DeFi industry, it operates on the Proof of Stake (PoS) method.720 million AVAX tokens, the whole supply of Avalanche, are available. When AVAX was first introduced in September 2020, it cost roughly US$4.00. The token reached its high on November 23, 2021, at US$134.87.