There is no hiding from the fact 2022 was not a good year for cryptocurrency. There were many reasons for the disappointing year in the crypto industry, with global economic factors, the war in Europe, the aftereffects of the pandemic, and some specific events in the crypto sector. The collapse of FTX and Luna were two of the major influences behind the drop in value of the crypto market. However, 2023 is a new year and things are already looking up. Could we see more new crypto coins come to the market in 2023?
What you'll learn 👉
Crypto Recovery in 2023
For more coins to enter the crypto market, the market itself is going to need to recover and that is exactly what has happened in the beginning of 2023. With the level of inflation beginning to reduce, the price of cryptocurrencies have risen to their highest for months. If we look at some of the bigger cryptocurrencies, there is plenty to be optimistic about in 2023. Bitcoin prices rose more than 37% in January and Ethereum prices rose 30% during the same month, so the mood has been set. There remains a lot of talk regarding the regulation of cryptocurrency, especially in the United States. It will be interesting to see how that develops throughout 2023 and what impact it has on the introduction of new crypto coins.
New Crypto Coins
The disappointing end to 2022 has not deterred those wanting to release new crypto coins and we have had a busy start to 2023. There are plenty of new cryptocurrencies to look out for throughout the first quarter of 2023, including BFG – BetFury, FGHT – Fight Out, CCHG – C+ Charge, MEMAG – Meta Masters Guild, D2T – Dash2Trade, TORA – RobotEra, and $RIA – Calvaria, to name but a few. Each of these crypto coins come with interesting features and we can take FGHT – Fight Out as a good example. FGHT is the native cryptocurrency of a new crypto project called Fight Out. The aim is to promote a healthy lifestyle by employing gamification. By participating in exercise, users can compete with other avatars to win tokens and these have real financial worth. You could choose to invest in BFG token, which is the internal token of the BetFury platform and this has been performing well in recent months. So, there are plenty of new crypto coins hitting the market.
Trading with Care
You only must look at the latest crypto market and filter for the most recently added to see just how many new crypto coins are available. Not a week goes by without a new crypto coin hitting the market but the industry is still far from the all-time highs we witnessed during the boom in 2021. As with any form of investment, you should only risk money you can afford to lose. Always complete due diligence and seek independent advice, especially when buying new crypto coins.
