Despite a devastating 2022, the cryptocurrency market has several sectors in the new year such as NFTs, Blockchain games, and the metaverse. SAND, AXS, AVAX, CAKE, LINK each lead their fields in different niches. Let’s take a look at what levels the various indicators and analyst compilation are pointing to in 2023 for these cryptos.
SAND, AXS, AVAX, CAKE, LINK: 2023 price predictions
If Sandbox sees its user base grow from the launch of its mobile version in the virtual world through 2023, it will have the opportunity to recover all the losses from last year. According to forecasts, the price could rise to its maximum value of $0.9723 after more games, partnerships and land sales. Regular buy and sell orders can push the price towards the $0.7924 average price target. Negative social sentiment and volatility in the market could drag the minimum price to $0.6125.
Axie Infinity (AXS)
NFTs and the gaming industry aim to further develop in the cryptosphere in 2023. This scenario could give impetus to AXS’s price action, which could skyrocket to a maximum of $11,0269. However, negative reviews and declining volumes could push the price down to $7,6168. The average price, capped by linear momentum, is around $9,3218.
Elements such as phase 1 of the NFT market, mobile-first UI overhaul, farming auctions, Information and Analytics V2. The Lottery V2 iteration is evolving as a better option for investors. As such, CAKE has enormous potential to claim newer heights.
Upgrades to NFT markets with rapid development in UI/UX and IFOs: ponds+farming and introduction of farming auctions. With all these factors, the CAKE price is poised to rise for new milestones in 2023. The protocol will reach a maximum of $6,875 by the end of the year. However, the average and minimum probabilities are expected to be $4,927 and $3,012.
Avalanche has launched Avalanche Multiverse, an incentive program focused on accelerating the adoption and growth of the new “subnet” functionality that provides a rich ecosystem of scalable application-specific networks. Initially, the program focuses on supporting new ecosystems including but not limited to Blockchain-enabled gaming, DeFi, NFTs, and enterprise use cases. The Avalanche Foundation is launching an incentive program focused on accelerating the adoption and growth of new Sub Nets, the world-class scale-out solution for Web3 dApps.
If its price continues its developments and connections in the coming days, it could skyrocket to $17,542. On the downside, if the market crashes and updates fail, it could cause the price to drop to $11,216. Considering all perspectives, the price could reach an average of $14,685 by the end of 2023.
cryptocoin.com Chainlink expands the role of Decentralized Oracle Networks (DONs) in the Blockchain ecosystem. The company is preparing a planned roadmap for the follow-up of Chainlink in the coming period. The long-awaited Chainlink Staking is scheduled to be released with v0.1 to reach Economy 2.0, this will help the company scale more securely. If the network raises the bounty levels for node operators, it could grab new nodes that stake their tokens. Thus, it can close the annual volume at $12.653 with a bullish note.
However, LINK, a transparent protocol with the usual buying and selling pressures, suggests its average price is $10,516. On the other hand, negative reviews and lack of volume could bring the price of the coin down to $8,218.