Analyticsinsight has revealed the best cryptocurrencies for passive income. Bitcoin and 9 altcoins found their place on the list.
Expectations are high for Bitcoin and altcoins
The concept of cryptocurrencies has grown at a rapid pace. Due to the growing phenomenon, crypto fanatics are increasingly devoted to figuring out what the crypto market has to offer. Crypto optimists are hopeless, expecting a Christmas rally in 2022. However, there are still some investors looking for cryptocurrencies for passive income and more profits in 2023. cryptocoin.comWe have included the analyzes made in this article.
While Bitcoin has suffered heavily, it has exhibited impressive price action in the crypto market. Previously, the market cap dropped tremendously when the total value of BTC fell. However, as BTC remains stable at $16,000, we can hope for a positive move in the coming days.
Litecoin and Ethereum
Litecoin has topped the Christmas winners list. After an impressive performance on Christmas day, market leaders believe it is one of the best investment assets investors must have to generate massive passive income in 2023.
Much like Bitcoin, Ethereum has lost almost 70% of its value since its ATH in 2021. But after Christmas, the ETH token is poised to mark its presence in the crypto market once again. Investors are expecting a massive ETH rally in 2023 as the market is expected to recover.
Cardano and Polygon
Cardano has been among the top cryptocurrencies for quite some time. ADA is not only affordable due to its low transaction fees feature. At the same time, the token is performing extremely well amid the massive market volatility in 2022. ADA’s network is fast and incredibly scalable, plus it’s environmentally friendly. An ADA rally scheduled for the New Year has triggered high hopes for Christmas.
Polygon (formerly Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is the Polygon SDK, a modular, flexible framework that supports building multiple types of applications.
XRP and Avalanche
Ripple is currently one of the best performing cryptocurrencies with extremely low fees in 2022. The cryptocurrency’s notable collaborations with major financial institutions such as Bank of America, American Express, and Royal Bank of Canada make XRP even more attractive when the crypto market is suffering from extreme volatility.
Avalanche is touted as Ethereum’s killer in 2022. With the increasing importance of the Ethereum Convergence in 2022, investors also became interested in AVAX’s price movements. During the crypto sleep, the value of this altcoin dropped. However, investors expect to witness another AVAX rally against Ethereum in 2023.
Dogecoin and Shiba Inu
Dogecoin is actually one of the best performing cryptocurrencies in 2022. Dogecoin has increased by almost 150% in a week after Elon took over Twitter! DOGE finally made it into the top 10 cryptocurrencies on the market. It has become a reliable form of investment for many investors. Christmas earnings also hold high hopes for crypto users.
Despite Shiba Inu’s poor performance, crypto has surfaced in the news several times due to its growing presence in the metaverse and the possible launch of Shibarium, SHIB’s Ethereum Layer-2 blockchain. Considering current market conditions, SHIB’s overall performance has been rather weak. However, investors are constantly expecting a massive SHIB rally in the coming days.
Polkadot is a Web3 cryptocurrency and is expected to increase immensely in the coming days. In 2022, this altcoin rose to prominence as Web3 became more popular among crypto investors.