Cryptocurrencies To Buy In December 2023

Key cryptocurrency market news in November 2023

In November 2023, the cryptocurrency market saw several noteworthy developments. These news events can influence investor sentiments and shape the dynamics of the market.

Best performing altcoins

The top-performing altcoins Best Altcoins to Buy Right Now in the cryptocurrency market in November 2023 showcase significant growth and potential. These altcoins present attractive investment opportunities for cryptocurrency enthusiasts.

Some of the best performing altcoins include:

• Solana: In the last 12 months, Solana’s price went from $13 to $60. For a giant market cap coin (number 7 in the world at the moment of writing this), having a 360% increase in a bear year is nothing short of outstanding

• Avalanche: Avalanche has been relatively quiet for the better part of 2023. However, in the last 30 days alon, Avalanche’s price went from $9 in October to $22 in November.

• Kaspa: Kaspa experienced a 1800% gain over the year, reaching $0.1396 as of November 22

• Injective: Injective's price increased by 78% from mid-October to November 2023, going from $7.34 to $14.55. Over the span of the year however, it went from $1.6 to $16.6, showcasing a 910% increase in a year.

• Render: Render has had a great year, going from $0.50 in December 2022 to $3.30 in November 2023

• Sidus: Sidus is a small gaming coin that started November at $0.0011 and has been going nothing but up for a month, reaching $0.0084. That’s a 663% increase in less than 30 days.

Binance CEO’s exit

Amidst key cryptocurrency market news in November 2023, the departure of Binance’s CEO has sent shockwaves throughout the industry. Changpeng Zhao, popularly known as CZ, the founder and now former CEO of Binance, has pleaded guilty to money laundering charges and agreed to forfeit $2.5 billion to the government as part of a $4.3 billion plea deal.

This development has had a significant impact on the crypto market, with Binance experiencing outflows of over $1 billion in the past 24 hours. The native token of Binance, BNB, has also decreased by more than 8%.

Despite these challenges, experts believe that Binance will likely survive the situation due to its compliance efforts and reserves. It is important for investors to closely monitor the situation and consider the potential implications for their cryptocurrency investments.

Crypto gaming is on the move

Crypto gaming has emerged as a burgeoning sector in the cryptocurrency market, showcasing substantial growth and attracting significant investor attention in November 2023. With the rise of decentralized applications (dApps), the gaming industry has begun to leverage blockchain technology to enhance user experiences and introduce new revenue models.

These crypto gaming projects offer unique in-game assets and rewards that are stored on the blockchain, allowing players to truly own and trade their virtual items. Additionally, blockchain technology ensures transparency, security, and immutability, addressing long-standing issues in the gaming industry such as fraud and cheating.

In addition, gaming as a sector is easier to understand by beginners, especially compared to something like DeFi or Oracles. As such, gaming is more likely to attract new investors due to its simplicity of concept.

As a result of all this, crypto gaming has been gaining popularity among both gamers and investors, leading to the surge in prices of gaming coins in November 2023.

Best cryptocurrency exchanges

1

9.4/10

Go to broker

Your capital is at risk.

Minimum deposit:

$1

Review

The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit). More about Binance Card

Pros/Cons

•low commissions due to liquidity and trading volumes.

•high platform performance;

•proprietary BNB Coin which allows Binance to reduce the commission size;

•a proprietary cold wallet guarantees the security of your crypto assets by storing them.

•complex verification procedure;

•the exchange is not licensed by a regulator;

•The platform can go offline without warning;

•there are complaints about the technical functionality of the platform;

•there is an intricate mechanism for calculating commissions and rewards (grid system Maker/Taker).

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2

9.2/10

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Your capital is at risk.

Minimum deposit:

₮1

Review

The BitGet crypto exchange provides traders with the opportunity to trade in spot, futures, and cryptocurrency. Cryptocurrency is used exclusively as instruments at the exchange: BTC (₿), LTC (Ł) ETH (Ξ), USDT (₮) and others. Trades are carried out on the crypto exchange’s own platform, which is available as a web terminal and an application for mobile devices. BitGet's fees are lower than its competitors in the market, with maker fees of 0.02% and takers of 0.06%. The commission can also be paid with bonus funds that each BitGet client receives upon registration, verification, and a trading account replenishment. There are no fees for maintaining an account, but a commission is charged upon withdrawal, the amount of which depends on the cryptocurrency in which the withdrawal is made. For investors, BitGet offers its own service for copying trades, and it is available at the exchange and at an affiliate program. Novice traders can use demo accounts to hone their trading skills, but there are no educational materials on the website. The BitGet cryptocurrency exchange provides services on an international level and cooperates with traders from different countries.

Pros/Cons

•availability of demo accounts;

•convenient ways to contact the support service;

•a wide range of cryptocurrencies for account replenishment;

•service of copying trades for receiving passive income;

•ability to reduce commissions using credits earned in the bonus program;

•ability to engage in algorithmic trading;

•the exchange uses hot and cold cryptocurrency wallets to store client funds.

•Deposits and withdrawals in fiat currencies are not available.

•There are no educational materials for novice traders on the exchange website.

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Best top cryptocurrencies to invest in

When considering the best top cryptocurrencies to invest in, Ethereum stands out for its smart contract capabilities and loyal community.

The scalability and potential partnerships of Polygon (Matic) make it an attractive option, while Chainlink’s ability to connect smart contracts with real-world data adds value.

Immutable and Enjin Coin also offer unique features and potential for growth in the cryptocurrency market.

Ethereum

One of the top cryptocurrencies to consider investing in December 2023 is Ethereum, the second-largest cryptocurrency and the most popular blockchain platform.

The giant layer 1, Ethereum’s smart contract capabilities have earned it a loyal community and long-term growth potential. Despite challenges with slow transaction speeds and high gas fees, Ethereum remains a leading platform for smart contracts and decentralized applications.

The recent upgrade called The Merge has also addressed concerns about Ethereum’s energy consumption, making it a more sustainable option.

Additionally, Ethereum’s network effect and developer community contribute to its continued growth. Ethereum’s designer to be built on top of, so any new project that is built on Ethereum can indirectly be beneficial.

With Fidelity offering Ethereum custody and trading services to its customers, it further enhances the accessibility and adoption of Ethereum.

It is also the second largest coin in the market, right behind Bitcoin, so in the unlikely event that crypto experiences a black swan event, Ethereum will probably be a safer investment and will net smaller losses than almost any other cryptocurrency, with a possible exception of Bitcoin.

To learn about the current price of Etherium and forecasts from TradersUnion experts, visit the page: Ethereum Price Prediction for Today and 1 Week

Polygon (Matic)

Polygon (Matic) emerges as a top contender among the best cryptocurrencies to invest in December 2023, offering unique features and functionalities as a layer two solution for Ethereum scaling and infrastructure development.

With its focus on expanding Ethereum into a multi-chain system, Polygon addresses the scalability issues faced by Ethereum and enhances its capabilities. Backed by Binance and Coinbase, Polygon has the potential for long-term viability in the cryptocurrency market.

However, it is crucial to exercise caution when investing in Polygon due to the high volatility and low adoption rates of altcoins. The MATIC token, used for payment services, transaction fees, and settlement currency, plays a crucial role within the Polygon ecosystem.

Chainlink

Chainlink is an oracle that enables universally connected smart contracts. It allows blockchain to interact and “communicate” with external, non-blockchain data. Here are some reasons why investors should consider Chainlink:

• Chainlink’s capability to facilitate secure interactions between blockchains and external data feeds is crucial for smart contracts to access real-world data and execute their intended functions.

• Chainlink has a strategic partnership with Google, which enhances its credibility and opens doors for connecting users to cloud services.

• Chainlink has been chosen for the new inflation index by Truflation, an alternative to the consumer price index. This selection highlights the trust and recognition that Chainlink has garnered in the industry.

• Chainlink’s advisors include former Google CEO Eric Schmidt and former LinkedIn CEO Jeff Weiner, adding further expertise and credibility to the project.

• While Chainlink, like many other cryptocurrencies, has experienced volatility, its unique value proposition and partnerships make it an attractive investment option.

Chainlink has also had an excellent year and effectively more than doubled in price, going from $7.14 to $14.8 in eleven months.

Immutable

Immutable X (IMX) is a Layer 2 scaling solution for NFT (Non-Fungible Tokens) projects on the Ethereum Blockchain. It addresses the pressing issues of scalability and sustainability in the digital asset space. IMX is an ERC-20 utility token that powers the Immutable ecosystem and rewards the builders, traders, and marketplaces that support the network.

IMX can be a good investment for several reasons:

• It is a more ethical option in the crypto space due to its carbon neutrality and is growing as a potent solution for Blockchain gaming projects, offering easy adaptability for users. The project provides a greater rate of investment return compared to some top-tier crypto coins in the market.

• IMX has recently shown strong potential with its price more than doubling in the last month, indicating a positive trend for potential investors.

• Immutable X aims to make operating with NFTs quicker and simpler, offering improved scalability and a global order book of NFTs, which can attract a wide range of users and developers.

• The price predictions for IMX are also promising, with analysts expecting significant growth in the coming years. For instance, some analysts predict that IMX could reach $6.29 by 2027, indicating a positive outlook for potential investors.

• Immutable X positions itself as the first layer-two scaling solution for NFTs on Ethereum, providing an open decentralized ecosystem for trading non-fungibles with zero gas fees and improved scalability, which can attract users and developers to the platform.

Enjin coin

Enjin Coin, a leading cryptocurrency with a focus on the gaming industry, presents a compelling investment opportunity in December 2023. With its unique features and advancements in blockchain technology, Enjin Coin has positioned itself as a strong player in the cryptocurrency market.

Enjin Coin is not a game per se. Rather, Enjin Coin is a project of Enjin, a company providing an ecosystem of blockchain-based gaming products. Their main product is the Enjin Network, a gaming platform for users to connect, communicate, create clans etc. They also offer software products that help anyone develop games on the blockchain.

Here are some key reasons why Enjin Coin is worth considering:

• Growing adoption in the gaming industry: Enjin Coin’s utilization in gaming and blockchain innovation has gained significant traction, making it a well-known project and a staple of the crypto gaming community.

• Proven track record: Enjin has been around for 6 years (only 1 year less than Ethereum), and that is considered a very long time in the crypto world, especially in crypto gaming. As such, it has survived 2 long bear markets and is here to stay. If you want to invest in crypto gaming, but want the safest bets possible, Enjin can be a good option.

• Positive trajectory in cryptocurrency prices: With the increasing interest in blockchain technology and the gaming industry, Enjin Coin has the potential for long-term appreciation, making it an attractive investment option.

Expert opinion

When considering the best cryptocurrencies to invest in, one should always be mindful of both the bullish case and bearish case. Investing money you can’t afford to lose is never a good idea, especially when it comes to assets as volatile as cryptocurrencies. That is why you should always have both a bullish and bearish case in mind.

• Bullish: Bitcoin is predicted to reach a range of $60.000 - $100.000 by the end of 2024, with a possibility of reaching $300.000 by 2028, according to Nasdaq. And generally speaking, altcoins do follow Bitcoin’s price action more often than not.

• Bearish: On the other hand, some have predicted a total stock market crash. Michael Burry has stated this is what he believes will happen in 2024, and a stock market crash would likely have negative consequences on the crypto markets as well.

The Binance problems could go both ways. Some believe that Binance’s issues essentially mean that crypto is purging itself of bad players and is effectively bullish news. Others say it might show the SEC all the wrongdoings of Binance, which will in turn make them hunt for other exchanges as well, and may even delay or cancel the Bitcoin and Ethereum ETF approval.