Cryptocurrency investing has gained immense popularity in recent years. After all, even a small investment in high-growth cryptos can lead to significant rewards. Nevertheless, the high risks and challenges associated with various high-growth cryptos necessitate careful consideration of available options by investors before making any decisions.
Curious about the top high-growth cryptos to buy in 2023? Look no further! This guide reveals three high-growth cryptos that are worth your attention. Whether you’re an experienced investor or new to the world of crypto, these tokens are poised for a breakout this May.
AltLayer has been selected as the initial provider of rollups-as-a-service to assist Arbitrum (ARB-USD) Orbit as it enters the Layer 3 arena. This will help in expanding upon its role as a Layer 2 scaling solution for Ethereum (ETH-USD).
Arbitrum, the largest Layer 2 (L2) token on the market, has experienced a consistent decline in price due to the fading hype surrounding the network. Nevertheless, the token may have reached a crucial price threshold that could signify a potential reversal point.
A price pattern analysis of ARB reveals the potential for a significant rebound, possibly resulting in 40% growth. That is if the token follows a previously established trend. The increasing adoption of L2 solutions in the cryptocurrency industry is a significant factor contributing to this potential rebound. Ethereum’s ongoing scalability issues and high gas fees make L2 solutions like Arbitrum an appealing option for developers and users looking for faster and more cost-effective transactions.
Technical analysis also indicates the potential for a rebound, with ARB nearing a crucial support level that could signal its price bottom. If ARB manages to hold this support level, it could stimulate new buying pressure and propel the token’s price toward the channel’s upper border, possibly resulting in a 40% growth opportunity. Traders may look for buying opportunities at this support level.
Solana (SOL-USD) is certainly among the high-growth cryptos worth considering. For one, Solana has gained significant popularity due to its high transaction speeds, low fees, and increasing dApp ecosystem. In addition, with the capability to process 50,000 transactions per second, Solana has surpassed its competitors, including Ethereum. Also, as more developers and users embrace Solana, its popularity continues to grow.
After declining for three consecutive days, the price of the SOL token has rebounded. Despite being 0.96% lower over the last seven days, it appears that a recovery is imminent. Although it may be premature to confirm a price recovery, the recent surge in Solana’s price following the public release of Saga could suggest a potential long-term increase. If the bullish trend continues, Solana may be able to recover its May 7th price of $22.71 in the coming days.
The Saga smartphone is not just an ordinary smartphone, as it provides additional features to simplify the web3 experience for users. With a seed vault that uses biometric authentication and encryption to secure keys, users can access dApps directly through the Solana dApp Store without having to use web browsers.
For investors looking for an affordable alternative to Ethereum, Fantom (FTM-USD) could be an attractive option. With a price of just 37 cents per token, Fantom is a smart contract platform that offers much faster settlement times than Ethereum, with transactions taking only 1-2 seconds compared to Ethereum’s 16 seconds. Under the leadership of DeFi expert Andre Cronje, Fantom has regained its identity and is no longer just a cheap Ethereum Virtual Machine (EVM) chain. It now has its own lending, trading, NFT, and enterprise features that distinguish it.
Fantom may have technical advantages over Ethereum, but it lacks the brand recognition and dominance of Ethereum, making it difficult for Fantom and other similar projects to challenge Ethereum’s position. While Fantom may seem promising and cost-effective, it remains a speculative investment as it does not have the power to displace Ethereum.
On the date of publication, Chris MacDonald has a position in SOL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.