• The crypto market lost a little over $2 trillion in 2022 due to the global crypto winter, the Luna crash and the FTX closure.
• Despite the losses, a new era of cryptocurrencies backed by sound projects providing utility has emerged.
• Seven coins that could be great investments for 2023 include FGHT, CCHG, TARO, RIA, IMPT, MEMAG and D2T.
The Crypto Market in 2022
The year 2022 was a turbulent one for the cryptocurrency market as it experienced a devastating loss of more than $2 trillion. This was mainly attributed to three major events – the global crypto winter, Luna crash and the infamous FTX closure which led to financial losses for many investors.
Rise of Utility Coins
Despite this disaster-filled year for the crypto market, a new era of cryptocurrencies has emerged which are backed by sound projects that provide utility to their investors. These coins are less volatile in nature given that they derive their value from the growth of their associated platforms.
Bullish Coins To Explode In 2023
Below is a list of seven coins that could turn out to be your best investment option for 2023:
1. Fight Out (FGHT) – Move-to-Earn platform which provides rewards for completing fitness challenges such as running or exercise; currently in its presale stage with first CEX listing scheduled on 5th April 2021 2. C+Charge (CCHG) – Platform standardizing EV charging and payment processes; native token is available at 0.25 USD per token during pre-sale 3. TARO (TARO) – Decentralized application allowing users to create digital tokens without programming knowledge; current price is $0.11 per token 4. Ria (RIA) – Platform connecting lenders with borrowers using smart contracts; native token can be bought at 1RIA = 0 ETH 5. Impetus Protocol (IMPT) – DeFi protocol built on Polkadot aiming to bridge traditional finance and DeFi markets; presale ends on 31st March with each IMPT token priced at 0 ETH 6. MemAg (MEMAG) – Decentralized insurance protocol powered by Ethereum blockchain; native tokens can be bought at $0.006 per MEMAG 7 .D2T (D2T )– Platform developing an innovative decentralized job marketplace based on Ethereum blockchain; presale price is set at 1 D2T = 0 ETH
Though 2022 saw some huge losses for cryptocurrency investors due to various reasons such as global crypto winter and others, it also marked the emergence of several utility coins offering stability and potential returns in 2023 if invested wisely now during pre-sale or ICOs stages..