12 Best Emerging Cryptos in 2023

The list of the best emerging cryptocurrencies includes DeFi-centric projects like Solana, gaming-focused Decentraland and The Sandbox, and AI-oriented Render Token and SingularityNET.

In recent years, the world of cryptocurrency has experienced rapid growth and innovation. With the emergence of blockchain technology, new digital assets have been introduced to the market, offering exciting opportunities for investors and enthusiasts alike. 

In this article, we will present the 12 best emerging cryptos that show immense potential for the future.

Data collected on July 13, 2023

12 best emerging cryptos in 2023

In the following sections, we are going to examine 12 emerging cryptocurrency projects we believe have strong potential to make waves in the future, and potentially become the next crypto to explode.

1. Solana

Solana (SOL) is a high-performance blockchain that can process up to 50,000 transactions per second. This makes it a popular choice for decentralized finance (DeFi) applications, which require high throughput and low latency. Solana is also backed by a strong team and has a growing community of users, making it one of the leading Ethereum competitors in the industry today. 

It is worth noting that Solana saw a massive drop in value last year – after reaching a high above $250, SOL plummeted below $20 following the collapse of the FTX crypto exchange last November. FTX and its CEO, Sam Bankman-Fried, were major investors in Solana, which many investors considered a massive red flag at the time. In the months since, Solana has demonstrated that it’s capable of operating independently from outside investors, with both the number of users and development activity staying at a high level despite the price drop.

Quick overview: 

• Uses a Proof-of-History (PoH) consensus mechanism, which allows it to achieve high throughput and low latency
• Designed to be scalable, so it can handle the increasing demand for blockchain-based applications (known as “dApps”)
• Solana has a strong team of developers and a growing community of users

2. Cardano

Cardano (ADA) is a third-generation blockchain that is designed to be more scalable and secure than Bitcoin and Ethereum. It is a popular choice for enterprise applications. Cardano is also being used to develop a number of decentralized applications, such as the Cardano-based stablecoin Djed Reserve Coin (Djed). 

While it might seem a bit inaccurate to call Cardano an emerging cryptocurrency, it is worth mentioning that Cardano just recently launched support for smart contracts, and announced that EVM compatibility is on the way. The latter will enable developers to easily port applications from Ethereum to Cardano, which should greatly boost 

Quick overview: 

• Designed to be more scalable, secure, and efficient than Bitcoin and other older blockchains
• Built on a scientific approach, which means that it is well-documented and has a clear roadmap for development
• Support for smart contracts and planned EVM-compatibility

3. Polygon

Polygon (MATIC) is a Layer 2 scaling solution for Ethereum. It allows Ethereum-based applications to scale without sacrificing security or decentralization. Polygon is a popular choice for DeFi applications, as it allows them to offer faster and cheaper transactions. 

The team behind the Polygon protocol announced the launch of “Polygon 2.0” on July 13. The new version of the platform will bring a new token, “POL”, which will replace the existing “MATIC token. In addition, the new platform will feature scalability improvements and an even greater emphasis on Zero-Knowledge (ZK) rollups.

Quick overview: 

• A Layer 2 scaling solution for Ethereum, which means that it can help Ethereum to scale without sacrificing security or decentralization
• Compatible with Ethereum, so it can be used to build Ethereum-based applications
• One of the most popular scaling solutions in the industry

4. Render Token

Render Token (RNDR) is a cryptocurrency that is used to power the Render Network, a decentralized platform for rendering 3D graphics. The Render Network allows users to rent out their unused computing power to render 3D graphics, making RNDR a good investment for users who are interested in the metaverse or who need to render 3D graphics. 

Render Token saw a massive spike in value this year, with the token gaining more than +390%. A large reason for the spike could be the interest in all things AI, sparked by the launch of ChatGPT, an extremely popular chatbot launched by OpenAI earlier in the year.

Quick overview: 

• RNDR is used to power the Render Network, a decentralized platform for rendering 3D graphics
• The Render Network allows users to rent out their unused computing power to render 3D videos, images, and other models
• Render Token is a good investment for users who are interested in the metaverse or who need to render 3D models

5. Cosmos

Cosmos (ATOM) is a decentralized network of independent blockchains. It allows for the easy transfer of assets and data between different blockchains and makes it easy to build cross-chain applications, which are applications that can run on multiple blockchains. This can be useful for applications that need to access data from multiple blockchains, or for applications that want to reach a wider audience. 

Cosmos can connect to a number of blockchains, including Ethereum, BSC, Terra Classic, Solana, and Polygon thanks to the Inter-Blockchain Communication Protocol (IBC). Generally speaking, Cosmos is a good investment for users who are interested in the interoperability of blockchains or who want to build cross-chain applications. For these reasons, Cosmos is also on our list of the best cryptocurrencies to buy in 2023.

Quick overview: 

• A decentralized network of independent blockchains, which means that it allows for the easy transfer of assets and data between different blockchains
• Designed to be scalable, so it can handle the increasing demand for blockchain-based applications
• Can connect popular IBC-supporting blockchains, including BSC and Terra Classic

6. Polkadot

Polkadot (DOT)  is a multi-chain network that allows for the interoperability of different blockchains, making it a popular choice for DeFi and cross-chain applications. Polkadot was launched by Gavin Wood, a computer scientist and Ethereum co-founder that wanted to build a blockchain network with better scalability than Ethereum.

Polkadot’s parachains are blockchains that are connected to a larger blockchain, known as a relay chain. Parachains are designed to be independent and scalable while still being able to communicate with the relay chain. This makes them ideal for running decentralized applications that require a high degree of security and scalability.

Quick overview: 

• A multi-chain platform, which means that it can support multiple blockchains on the same network
• Designed to be interoperable, so it can easily connect to other blockchains
• Uses parachains, which are project-specific blockchains that are validated through Polkadot’s Relay Chain

7. Uniswap

Uniswap (UNI) is a decentralized exchange that allows users to trade cryptocurrencies without the need for a centralized exchange. It is a popular choice for users who want to trade cryptocurrencies without having to give up control of their funds, as it uses a technology known as AMM (automated market makers) to set prices and facilitate liquidity among pools.

Uniswap is the largest DEX in the crypto market, both in terms of number of users and the overall liquidity. The v4 version of the Uniswap platform was announced in June 2024. The fourth iteration of the Uniswap protocol is introducing “hooks”. According to Uniswap, hooks are “plugins to customize how pools, swaps, fees, and LP positions interact.” They allow developers to create customized AMM pools and integrated v4’s smart contracts.

Quick overview: 

• A decentralized exchange that allows users to trade cryptocurrencies without the need for a centralized exchange
• A non-custodial exchange, which means that users retain control of their funds at all times
• New improvements to the trading protocol are rolling out with the upcoming launch of Uniswap v4

8. SingularityNET

SingularityNET (AGIX) is a decentralized platform that connects artificial intelligence (AI) agents. It allows AI agents to share data and collaborate on tasks. The core mission of the SinguralityNET team is “the development of Artificial General Intelligence (AGI) for a beneficial technological Singularity”.

Simply put, SingularityNET is a decentralized marketplace for AI-powered programs (called agents) that can execute tasks on behalf of users following a customized set of parameters. The SingularityNET token is a good investment for users who are interested in the future of AI or who want to build decentralized AI applications. 

Quick overview: 

• A platform that connects artificial intelligence (AI) agents
• AI agents are software programs that can learn and make decisions on their own
• A good investment for users who are interested in the future of AI or who want to leverage the power of decentralized AI applications

9. The Sandbox

The Sandbox (SAND) is a blockchain-based game that allows users to create, build, and monetize their own experiences. The Sandbox is a popular choice for users who are interested in the metaverse or who want to create their own games. 

The Sandbox has attracted a number of celebrities from different fields, including Snoop Dogg, Deadmau5, Steve Aoki, and Paris Hilton. According to a report by the Sandbox team, more than 1 million unique users played the game in 2022, making it one of the most popular games in the crypto space.

Quick overview: 

• A blockchain-based game that allows users to create, build, and monetize their own experiences
• The Sandbox is also a metaverse, which means that it is a virtual world that is shared by multiple users
• Snoop Dogg, Deadmau5, Steve Aoki, and Paris Hilton are just some of the celebrities using The Sandbox

10. Decentraland

Decentraland (MANA) is a blockchain-based virtual world that allows users to buy, sell, and build land. In many ways, Decentraland is similar to The Sandbox, as both allow users to play games, interact with other users, and engage in VR e-commerce (which is part of the reason why both are ranked high in our list of the best metaverse projects).

In the Decentraland metaverse, users can buy and sell parcels of land, known as LAND, as non-fungible tokens using the MANA cryptocurrency. In addition, users can create their own buildings, games, and virtual spaces, and monetize their creations by selling or renting them to others.

Quick overview: 

• A blockchain-based virtual world that allows users to buy, sell, and trade land
• Users can monetize their metaverse creations by selling or renting them to others
• The native MANA token can be used to buy LAND, which are digital parcels of land in the form of NFTs

11. Chainlink

Chainlink (LINK) is a decentralized Oracle network that provides secure and reliable data to smart contracts. Chainlink is a popular choice for DeFi applications, as it allows them to access real-world data without having to trust a centralized third party. 

In 2021, the team rolled out the Chainlink 2.0 whitepaper, which expanded the role of Decentralized Oracle Networks (DONs) and proposed several enhancements to decentralized services and smart contracts on supporting blockchains. In 2022, the team launched Chainlink Staking, which enables holders to earn staking rewards by securing the network. 

Quick overview: 

• An Oracle network that provides secure and reliable data to smart contracts
• Chainlink acts as a bridge between real-world data points and the blockchain space
• Chalink Staking allows holders to stake LINK to secure the network and earn staking rewards

12. Filecoin

Filecoin (FIL) is a decentralized storage network that allows users to store data on a peer-to-peer basis, making it a good choice for those who are interested in storing their data in a secure and decentralized manner. 

Filecoin leverages the technology being the InterPlanetary File System (IPFS), which is a P2P protocol that allows users not only to store and share data but also to monetize their cloud storage space. If you are interested in mining Filecoin and securing the network in exchange for block rewards, be aware that it requires a substantial amount of computing power.

Quick overview: 

• A decentralized storage network that allows users to store data on a peer-to-peer basis
• A good investment for users who are interested in storing their data in a secure and decentralized manner
• Filecoin can be mined as it uses the Proof-of-Work (PoW) consensus but needs a lot of computing power

The bottom line: Emerging cryptos provide a unique investment opportunity

The cryptocurrency space is brimming with projects that are aiming to revolutionize different industries by leveraging the power of blockchain technology. Projects like Solana, Cosmos, Filecoin, Chainlink, and others in our list are solving real-world problems with unique features and methods. In addition, since they are not present in the market as long as some crypto staples like Bitcoin, Litecoin, or XRP, they are usually more volatile but also have the potential for more upside.

If you are looking for more investment opportunities and don’t mind riskier investment strategies, you can look to invest in cryptocurrency presales, which are essentially token sales for projects that are not yet trading on exchanges – for more information, check our list of the best crypto presales.