Top 10 Cryptos To Invest in December 2023

Introduction

It is already the last month of 2023, and the year’s first eleven months have been a roller coaster ride. Whether you are eyeing short-term gains or looking for long-term potential, making informed investment decisions is essential. This article aims to highlight the top 10 cryptos worth considering in December 2023. These cryptos have demonstrated strong market performance, innovative technology, and robust fundamentals, positioning them as promising investment options.

We will explore short-term opportunities for those looking to capitalize on current market trends and long-term prospects for investors seeking sustained growth and stability. By examining key factors such as market capitalization, project development, partnerships, and community support, we can identify the standout crypto that can potentially deliver attractive returns in the dynamic crypto market 2023. So, let’s delve into the top cryptos to invest in for both short-term gains and long-term growth in December 2023.

Bitcoin

With its widespread adoption and global recognition, Bitcoin, the pioneering crypto, continues to dominate the digital asset space. While Bitcoin operates on the blockchain, the recent trends have seen the emergence of two notable terms that didn’t exist before in the king coin ecosystem: BRC20 and ordinals NFTs. BRC20 refers to the token standard used on the Bitcoin blockchain, similar to Ethereum’s ERC20 standard. It enables the creation and management of various tokens, representing different digital assets, on top of the Bitcoin network. This development has opened up new possibilities for decentralized applications (DApps) and tokenized assets within the Bitcoin ecosystem.

On the other hand, the term “ordinals” has gained attention as a potential upgrade to Bitcoin’s scripting language. The Ordinals protocol on the Bitcoin network is a process for numbering satoshis, giving each satoshi a serial number and tracking them across various transactions in a process called “inscription”. Thus, the ordinals protocol allows users to make individual satoshis unique by adding this extra data – thus making them into an NFT.

Additionally, Bitcoin has been gaining momentum behind the scenes ahead of the Bitcoin Halving event 2024. Bitcoin Halving 2024 is expected to come about sometime in May 2024. Thus, it is less than a year away.

Current Price	$38,100
Market Cap	$745 billion
Circulating Supply	19.55 million BTC
Max Supply	21 million BTC
Vol (24H)	$19.5 billion
Change (YTD)	+130%
Founder	Satoshi Nakamoto (pseudonymous)

• Since the beginning of 2023, a Bitcoin price surge of over 130% suggests a bullish outlook for the last month of the year, potentially marking the end of the current crypto bear market.
• According to the chart above, BTC price has increased just over 130% since January 1, 2023, exhibiting a consistently strong upward trend.
• BTC price comfortably crossed both its 50 and 200-day exponential moving averages. Moreover, these moving averages recently formed a bullish golden crossover just a fortnight ago, a positive indicator for the future price movement of Bitcoin price.
• Additionally, Bitcoin price has rebounded above the ascending trendline (shown in yellow) that has remained intact throughout the year. Currently hovering just above $35,000, this level is anticipated to serve as a robust support zone for Bitcoin.
• To achieve its upcoming milestones, Bitcoin faces the immediate hurdle of surpassing the $39,500 to the $40,000 region, which roughly aligns with the R2 level on the Fibonacci pivot chart. A successful breach of this level could pave the way for Bitcoin price targets of up to $41,000, presenting an optimistic outlook for crypto investors.

Read More: Top Crypto Gainers

Ethereum

Ethereum is the second-largest crypto asset by market cap and the largest smart contract-capable altcoin in the market. On April 12, 2023, Ethereum underwent a significant upgrade known as the Ethereum Shanghai Capella. This upgrade introduced several key improvements to the Ethereum network, enhancing its scalability, security, and usability. But most of all, the Ethereum Shanghai Upgrade introduced the EIP-4895 – which finally unlocked the “unstaking” feature for staked ETH tokens to the Beacon Chain. This is the first time since December 2020 that Ethereum validators could unstake their rewards from the PoS chain.

Additionally, the Capella upgrade addressed various technical aspects, including enhanced security measures, optimized network performance, and improved user experience. These advancements aimed to solidify Ethereum’s position as a leading smart contract platform, enabling developers to build decentralized applications (DApps) and deploy smart contracts with greater confidence.

Further, more recently – Ethereum has announced the next major upgrade for the second largest crypto by market cap – the Ethereum Cancun Deneb Upgrade. The Cancun-Deneb (Dencun) Upgrade encompasses a range of enhancements to both the execution layer (Cancun) and the consensus layer (Deneb) of the Ethereum network. These synchronized upgrades bolster scalability, security, and usability, resulting in a more robust infrastructure for decentralized applications (dApps) and smart contracts. Ethereum’s Dencun initiative is poised to drive innovation and accelerate blockchain technology adoption by providing a solid foundation for future developments.

Additional read: What is Ethereum Cancun-Deneb (Dencun) Upgrade?

Current Price	$2090
Market Cap	$251 billion
Circulating Supply	120.23 million ETH
Max Supply	N/A
Vol (24H)	$9.2 billion
Change (YTD)	+75%
Founder	Vitalik Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin

• During the favorable period of October-November 2023, Ethereum price displayed a strong surge, reflecting the recent upward movement in Bitcoin price and ultimately breaching the $2000 level.
• Ethereum price has reestablished itself above $2000 for the first time since April 2023, indicating a promising resurgence and a sustained bullish trend.
• Surpassing resistance levels outlined by Fibonacci pivot points, Ethereum price has entered relatively unexplored territory, emphasizing its upward momentum.
• Chart analysis suggests Ethereum price is poised to continue its climb, targeting the $2200 to $2350 range, as depicted by the R2 and R3 of the Fibonacci pivot points.
• On the downside, the ETH price is anticipated to find robust support around the $1990 to $2000 region, previously a substantial resistance level that has now transformed into a dependable support zone. It also coincides with the P level of the Fibonacci pivot points.
• Presently, Ethereum price maintains positions above its 50-day and 200-day exponential moving averages. The sustained positive movement might increase the likelihood of a bullish golden crossover between these two EMAs in the coming days.

Ripple

XRP, a digital asset and crypto, is best known for its association with Ripple Labs. XRP operates on a decentralized blockchain network and offers fast, low-cost transactions. It was designed to facilitate efficient cross-border payments and improve liquidity in financial institutions.

XRP stands out due to its unique consensus algorithm called the Ripple Protocol Consensus Algorithm (RPCA). This algorithm enables quick transaction validation without extensive computational power, making XRP transactions faster and more energy-efficient than other cryptos.

XRP has gained traction as a solution for remittances and international money transfers, with Ripple’s growing partnerships and collaborations in the financial industry. However, it is essential to note that XRP has faced regulatory challenges in some jurisdictions, impacting its market dynamics.

More recently, on July 13, after a very long, drawn-out court battle between Ripple Labs and the United States Securities and Exchange Commission, it came to a close, with the court ruling in favor of Ripple Labs and announcing that XRP is not a security. This resulted in the price of XRP rallying by over 70% on the same day!

Current Price	$0.60
Market Cap	$32.8 billion
Circulating Supply	53.88 billion XRP
Max Supply	100 billion XRP
Vol (24H)	$930 million
Change (YTD)	+79.5%
Founder	Chris Larsen, Jed McCaleb

• XRP price journey in 2023 took a unique turn, highlighted by a significant event on July 13, 2023. Today, the US District Court for the Southern District of New York ruled that XRP is not a security. This declaration relieved XRP investors, sparking a notable surge, evidenced by a substantial green candle indicating a price spike of over 74%.
• Despite the initial surge, the upward momentum proved short-lived for XRP price. Almost immediately following the favorable announcement, XRP began a downward trajectory. Around two months later, XRP has reverted to levels seen before the court ruling victory.
• The month of “Uptober” brought optimism to the entire crypto market, propelling XRP price upwards by more than 25% from its October lows.
• Like the aforementioned cryptos, XRP price broke through its 50- and 200-day EMAs, experiencing a bullish golden crossover between them. But since the second week of November, XRP price has retreated and is currently taking support at the 50-day EMA. 
• XRP price is trading just below the P level of the Fibonacci pivot points, as depicted on the chart. A breakout beyond $0.64 may lead to future targets of $0.71 and eventually $0.75, signifying an approximate 23% surge from its current levels.
• On the downside, the S1 level of the Fibonacci pivot points is expected to serve as a support zone for the token.

Solana

Solana is a blockchain platform that has gained significant attention in the crypto space due to its remarkable speed and scalability. It aims to provide a high-performance infrastructure for decentralized applications (DApps) and financial services. Solana’s unique consensus mechanism, known as Proof of History, enables fast and secure transaction processing, making it a compelling choice for developers and users.

As one of the top cryptos to consider for investment in 2023, Solana’s potential lies in its ability to handle many transactions per second with minimal fees. Its robust ecosystem and partnerships with various projects contribute to its growth and adoption. However, it’s important to note that investing in any crypto carries risks, including market volatility and regulatory uncertainties.

Solana recently shot into the limelight as Helium, a prominent blockchain service provider, upgraded to the Solana network in April 2023. Helium is a decentralized wireless network and the largest LoRaWAN network in the world. It works to provide wireless access via its constellation of wireless network hotspots deployed by individual participants and enterprises across 192 countries in the world.

Current Price	$60.9
Market Cap	$25.8 billion
Circulating Supply	424.3 million SOL
Max Supply	N/A
Vol (24H)	$1.3 billion
Change (YTD)	+511%
Founder	Anatoly Yakovenko

• When reviewing Solana’s SOL price from a technical perspective, it’s evident that the crypto embarked on a substantial upward trajectory earlier in the year, ascending from below $20 to almost trading over the $60 mark as of writing this article, well over tripling in value.
• Between February and May 2023, SOL price exhibited considerable stability, consistently maintaining levels above the crucial $20 support threshold on the price charts. However, the scenario altered in June 2023 due to a significant market downturn, resulting in the SOL price decline to $14.
• Following this decline, Solana price staged an impressive recovery compared to other top 10 cryptos by market capitalization. It bounced back from $14, briefly spiking to $30, and then stabilized around $18 throughout September before initiating another rally that commenced on September 28, 2023.
• This upward momentum persisted through the month of “Uptober,” and November rising from approximately $24 at the month’s onset to $60 as of the writing of this article, marking a 220% surge in the last 60 days.
• On the positive side, watch for levels around $67 and $73 – significant both as key resistance markers and psychological barriers.
• Conversely, on the downside, the $55 region is anticipated to act as a support area for SOL price in the immediate future, coinciding with the P level of the Fibonacci pivot levels.

Additional Read: Top AI Crypto Tokens

Cardano

Cardano, a blockchain platform known for its scientific approach and emphasis on security and scalability, recently made a significant advancement with the release of the Hydra Layer-2 solution. The recently launched Hydra is designed to enhance Cardano’s scalability and throughput, allowing the network to handle significantly more transactions per second.

Hydra is a Layer-2 scaling solution that operates on Cardano’s main blockchain, enabling fast and secure off-chain transactions. By leveraging Hydra, Cardano aims to overcome the limitations of scalability faced by many blockchain networks, offering a more efficient and seamless user experience.

The release of Hydra is a crucial milestone for Cardano, demonstrating the platform’s commitment to continuous innovation and improvement. With increased scalability, Cardano becomes better positioned to support a broader range of decentralized applications (DApps) and use cases, opening up new possibilities for developers and users within the Cardano ecosystem.

Current Price	$0.37
Market Cap	$13.3 billion
Circulating Supply	35.3 billion ADA
Max Supply	45 billion ADA
Vol (24H)	$267 million
Change (YTD)	+53.7%
Founder	Charles Hoskinson

• Once again, aligning with the broader crypto market’s resurgence guided by Bitcoin price, ADA price has witnessed a robust bullish recovery on the charts and is currently trading just shy of the $0.4 mark.
• November saw a major rally in ADA price, going from sub $0.3 to nearly $0.4, and has sustained at around $0.37 as of writing this. 
• Like the DOGE price movement, the ADA price broke through the 50-day and 200-day EMAs. Further, these two EMAs have also undergone a bullish golden crossover. 
• Target levels for ADA price on the upside include $0.4 and a stronger level at $0.435, indicating an approximate 15% surge from its current levels.
• On the flip side, the $0.35 mark is expected to act as a support level for the ADA price, coinciding with the P level of the Fibonacci pivot points.

Dogecoin

In the delightful world of cryptos, Dogecoin has emerged as a unique and popular digital asset. Originally created as a meme coin, Dogecoin has gained significant attention and a dedicated community of supporters. While it started as a lighthearted project, Dogecoin has evolved into a legitimate crypto with a strong following and a suite of products in its ecosystem.

Dogecoin’s value lies in its widespread adoption and recognition. It has garnered attention from celebrities and influential figures, further fueling its popularity. However, it’s important to note that Dogecoin’s price volatility and speculative nature make it a risky investment.

Dogecoin recently gained much social media attention, over and above what it got, when Twitter’s new boss, Elon Musk, changed the Twitter logo from the bird to the iconic Dogecoin logo.

Current Price	$0.084
Market Cap	$12 billion
Circulating Supply	142.05 billion DOGE
Max Supply	N/A
Vol (24H)	$685 million
Change (YTD)	+20%
Founder	Billy Markus and Jackson Palmer

• Aligned with the overall crypto market’s positive sentiment, the leading memecoin by market capitalization, Dogecoin, displays signs of strong recovery on the price charts.
• Displaying a notably bullish move, DOGE price has broken out of the descending wedge pattern, confirming the anticipated bullish price action chart pattern. Consequently, this breakout is anticipated to maintain its momentum moving forward.
• During the recent rally, DOGE price surged above both the 50 and 200-day EMAs, and at the same time, a week and a half ago, the two EMAs also underwent a bullish golden crossover, which would further support upward momentum.
• The upcoming interest levels for DOGE price on the upside are $0.087, followed by $0.092. If this bullishness continues, we could see the Dogecoin price touching the $0.1 mark before the end of the year, which is a roughly 20% rally from the current market price.
• Conversely, on the downside, DOGE’s price finds support near the P level of the Fibonacci pivot points at $0.08.

Learn More: Top Meme Tokens

Chainlink

Chainlink (LINK) is a decentralized oracle network that bridges the gap between smart contracts and real-world data. It is an intriguing option for investors looking to diversify their crypto portfolio in 2023. As one of the top 20 cryptos by market capitalization, Chainlink offers a reliable and secure infrastructure for connecting blockchain-based applications with external data sources, APIs, and traditional financial systems.

The core strength of Chainlink lies in its ability to provide tamper-proof, verifiable, and trustworthy data to smart contracts. By enabling the seamless integration of off-chain data, Chainlink unlocks various possibilities for various industries, including finance, insurance, supply chain management, and more.

More recently, Chainlink partnered with Avalanche to launch its Chainlink Functions, which allows Web3 developers to connect to any Web2 API safely!

Current Price	$14.7
Market Cap	$8.2 billion
Circulating Supply	556 million LINK
Max Supply	1 billion AVAX
Vol (24H)	$518 million
Change (YTD)	+164%
Founder	Sergey Nazarov and Steve Ellis

• LINK price surged over 57% in October, participating in the crypto market’s recent broad base recovery.
• In sync with the Bitcoin price lead in the crypto market recovery, LINK price has also demonstrated a strong bullish trend, which touched $16.5 in the middle of November before retreating slightly to just under $15 as of writing.
• LINK stabilized around $7 throughout October, initiating a significant 57% rally. This rally continued throughout the month of November, where the altcoin rallied a further 32%!
• Similar to other bullish assets, LINK is trading well above both the 50-day and 200-day EMAs, and both the EMAs are in a golden crossover, which would further support positivity.
• Monitoring specific price levels is crucial for LINK price trajectory. The initial target is $16.5, followed by a notable milestone at $17.6, indicating nearly a 20% increase from current levels.
• In a downturn, LINK may find support around $13.8, aligning with the Fibonacci pivot points’ P level.

Avalanche

Avalanche (AVAX) is a rapidly emerging blockchain platform that aims to revolutionize decentralized finance (DeFi) and enable the creation of highly scalable and interoperable decentralized applications (dApps). As one of the top crypto to consider for investment in 2023, Avalanche boasts a unique consensus protocol called Avalanche consensus, which enables fast and secure transaction processing with low fees.

The platform’s focus on scalability, high throughput, and low latency positions it as a potential game-changer in the DeFi space. By providing developers with the tools to create powerful and efficient decentralized applications, Avalanche aims to address the challenges of scalability and usability faced by many existing blockchain networks.

Current Price	$22.3
Market Cap	$8.15 billion
Circulating Supply	365 million AVAX
Max Supply	720 million AVAX
Vol (24H)	$496 million
Change (YTD)	+105%
Founder	Emin Gün Sirer, Kevin Sekniqi, Ted Yin

• Avalanche’s AVAX price has exhibited range-bound behavior since mid-January 2023. Initially, AVAX saw a surge in January 2023, nearly doubling to briefly touch the $22 level early on.
• However, this price range became a strong resistance zone. Repeated attempts to breach $21-22 faced significant selling pressure. In early June, similar to Polkadot’s DOT and Polygon’s MATIC, AVAX dropped below the $14 support level. But now, with a recent recovery in AVAX price, the altcoin has gained back to the $22 level and has bene managed to breach it and sustain above it. 
• Overall, the token indicates bullishness for the altcoin, with future targets at around $24.25 and eventually at $27.5 – according to the Fibonacci pivot points. 
• On the downside, AVAX price will find support around $17, which coincides with the P level of the Fibonacci pivot points. 

Polygon

Polygon, previously recognized as Matic Network, has emerged as a leading layer-2 scaling solution for the Ethereum blockchain, with a core mission to tackle Ethereum’s scalability and high transaction costs. 

It provides a framework for constructing and connecting scalable blockchain networks, positioning it as one of the top cryptos for potential investment in 2023. Polygon’s value proposition primarily centers around optimizing the efficiency and functionality of decentralized applications (DApps) operating on the Ethereum network. With its remarkable features, such as low transaction fees and rapid confirmation times, Polygon has rapidly gained popularity among both developers and users. 

A recent milestone for Polygon is the achievement of new all-time highs in transaction volumes with its zkEVM. Moreover, the transition from MATIC to POL symbolizes an important upgrade for Polygon.

POL holders also have governance rights, enabling them to propose and vote on network upgrades, creating a decentralized and community-driven ecosystem. Notably, the POL Token significantly reduces transaction fees, bolstering the cost-efficiency of the Polygon network and attracting more developers and users. 

It also promotes liquidity provision and interoperability, enhances security, and anticipates wider adoption among developers and applications within the Polygon 2.0 ecosystem. In this transition from MATIC to POL, Polygon aims to foster innovation and adoption, establishing a dynamic, secure, and user-friendly environment to meet the diverse needs of its user base. This reflects Polygon’s unwavering commitment to providing a cutting-edge blockchain network and an upgraded ecosystem.

The POL token upgrade is now live on Ethereum mainnet.

Polygon 2.0, released this summer, is a roadmap for scaling Ethereum to build the Value Layer of the Internet. POL unlocks that future.

POL is a next-generation token that can power a vast ecosystem of ZK-based L2 chains.… pic.twitter.com/gmrsu0ZqLz

— Polygon (Labs) (@0xPolygonLabs) October 25, 2023

Current Price	$0.77
Market Cap	$7.2 billion
Circulating Supply	9.27 billion POL
Max Supply	10 billion POL
Vol (24H)	$526 million
Change (YTD)	+2.6%
Founder	Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic

• During the broader market rebound, POL price performance has been relatively weaker compared to other cryptos.
• In 2023, Polygon price faced significant hurdles, particularly regarding its native token, POL. The token encountered a considerable decline in value during the initial months of the year, followed by an extended period of downward movement.
• POL witnessed an 24% upswing in the past 30 days, and Polygon price is trading just above both the 50-day and the 200-day EMAs. The two EMAs also underwent a bullish crossover, like many of the other tokens on this list, in the month of November.
• While the Polygon price has begun to break away from its downtrend, indicated by the breach of the blue trendline on the chart, it still encounters notable resistance levels that must be surpassed to solidify its position as an attractive bullish prospect. These immediate targets are set at $0.92 and $1.01.

Polkadot

Polkadot (DOT) is a prominent blockchain platform designed to enable the interoperability of different blockchains. Created by Ethereum co-founder Gavin Wood, Polkadot aims to establish a decentralized web where various blockchains can seamlessly communicate and share information.

As one of the top cryptos to consider for investment in 2023, Polkadot’s key strength lies in its ability to facilitate cross-chain compatibility and scalability. Its unique framework allows independent blockchains to connect and interact, fostering a more interconnected and efficient blockchain ecosystem.

Polkadot’s robust governance system, which empowers token holders to participate in decision-making processes, enhances its decentralization and community-driven nature.  Polkadot’s parachain technology also enables developers to build specialized blockchains that can seamlessly integrate with the broader Polkadot network.

Current Price	$5.5
Market Cap	$7.1 billion
Circulating Supply	1.29 billion DOT
Max Supply	N/A
Vol (24H)	$292 million
Change (YTD)	+27%
Founder	Gavin James Wood

• As mentioned previously, Polkadot price performance in 2023 resembles that of Polygon. During the initial six weeks of the year, DOT price surged remarkably by over 75%. However, it has since followed a consistent downward trajectory and is currently more than 45% below its year-to-date peak.
• The bearish trend in DOT price further resulted in a death cross between the 50-day and 200-day exponential moving averages, potentially amplifying the prevailing bearish sentiment. But currently, those two EMAs are on the verge of a bullish crossover soon, if the positivity continues. 
• On the upside, DOT price can rally till $5.8 and to $6.2 if the present positivity continues. 
• However, on the downside, $5.2, which is the P level of the Fibonacci pivot points, remains as a good support level for the altcoin.

Values as of December  1, 2023. 

Read More: Top Metaverse Tokens

Conclusion

In conclusion, the top cryptos to consider for investment in 2023 present an array of opportunities for investors in the dynamic and rapidly evolving crypto market. These cryptos, including Bitcoin, Ethereum, Cardano, Solana, Polygon, Avalanche, and Chainlink, offer unique value propositions, innovative technologies, and growth potential. However, it is crucial to remember that investing in cryptos carries inherent risks, such as market volatility and regulatory uncertainties.

Investors must conduct thorough research, stay informed about market trends, and consider their risk tolerance before making investment decisions. The future of cryptos remains promising as advancements in technology, increased adoption, and regulatory developments continue to shape the industry. As the crypto landscape evolves, investors should stay vigilant and adapt their strategies to capitalize on the opportunities and navigate the challenges that lie ahead.

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