Top Ethereum Tokens To Buy in January 2023
With a market capitalization of $211.04 billion and 25.79% dominance in the crypto market, Ethereum (ERC-20) tokens have been a major force behind the adoption and growth of the crypto industry.
Due to its versatile and robust mechanism, as well as a vibrant Ethereum community, ERC-20 tokens gained popularity and saw quick adoption. For those who don't know, ERC-20 enables tokens to be used across the Ethereum ecosystem, such as in DeFi projects, dApps, etc.
Let's look at some of the top Ethereum tokens that might roar in the next bull run.
BNB, the native currency of the BNB Chain ecosystem, is considered the most popular utility token. It is used to pay for goods and services, settle transaction fees on Binance Smart Chain, participate in exclusive token sales, and so on. BNB has become quite popular due to its auto-burn mechanism.
With a market cap of $41 billion, it is currently trading at $256.45. BNB has been seeing a downward trend for quite some time. Its price has declined by 11.01% in the last 30 days, by 27.54% in the last 60 days, and by 10.00% in the last 90 days. BNB is $434.42 down from its ATH of $690.93.
Since the crypto market is in a dip right now and so is BNB, it could give a good ROI in the next bull run. According to Coincodex, the BNB price would be between $ 477.95 and $ 1,435.26 by 2025.
Also Read: Top Crypto Trends To Look Forward To In 2023
MATIC is used to manage, secure, and pay for network transaction fees on the Polygon network. With a market cap of $6.9 billion, MATIC has also been experiencing a downward trend for quite some time. It is currently trading at $0.8004 and is down by 11.82% in the last 30 days, by 31.13% in the last 60 days, and by 5.48% in the last 90 days.
MATIC is down by 73% from its ATH of $2.92 (as recorded on December 27, 2021). According to Coincodex's technical analysis, investor sentiment around MATIC is bearish.
Since MATIC is in a dip despite offering the same value proposition as it did in the bull market of 2021, it can reach new highs in the next bull. Coincodex predicts that MATIC price would be between $ 1.496618 and $ 4.49 by 2025, and may hit $ 22.12 by 2027.
Also Read: Top 3 Macroeconomic Events That Can Shape Crypto Industry In 2023
Despite being one of the top ecosystems in the world of crypto and without any major issues, the price of UNI has decreased by 70.99% in the last 1 year. It is 87.87% down from its ATH of $44.97, as recorded on May 3, 2021. UNI is currently trading at $5.45.
UNI prices have plummeted by 10.53% in the last 30 days, by 28.19% in the last 60 days, and by 21.66% in the last 90 days. At this point in time, MATIC can be considered an undervalued asset.
According to Coincodex's technical analysis, investor sentiment around MATIC is bearish. They forecast that the UNI price will be between $ 14.92 and $ 44.80 by 2025, with the possibility of reaching $ 99.38 by 2026.
Also Read: Top Cryptocurrencies To Buy In January 2023 For 10X Returns