Spotlight on the Top 3 High-Flying Cryptocurrencies of 2023

• Reflections on the Cryptocurrency Market of 2023
• Highlighting the Best-performing Cryptocurrencies of 2023
• Solana (SOL)
• Avalanche (AVAX)
• Chainlink (LINK)

Reflections on the Cryptocurrency Market of 2023

The year 2023 witnessed an impressive recovery in the world of cryptocurrency. Bitcoin$42,260 -0.64% (BTC), as the pioneer crypto, bounced from around $16,540 in January to a staggering $43k in December, marking an over 160% growth. The total global crypto market cap followed suit, doubling in value to nearly $1.8 trillion. This surge proved major crypto investments to be highly profitable in 2023. This article delves into the top three standout cryptocurrencies of the year.

Highlighting the Best-performing Cryptocurrencies of 2023

Solana (SOL)

At the beginning of 2023, Solana$104 5.03% (SOL) traded at a modest $9.96. The token dramatically rose in value over the year, currently trading at over $100, a stunning increase of nearly 1000%. Despite a slight 5.2% correction in daily charts, and a recent peak at $123.68, the SOL price rests comfortably near the $100 mark.

The SOL rally seems poised to continue into 2024, considering the unwavering support from the crypto community and investors. This is evident despite the potential sale of over $1 billion worth of SOL by FTX$3.28 -5.38%.

Avalanche (AVAX)

Avalanche (AVAX), after a challenging start to 2023, began to pick up momentum significantly by November, posting over a 100% rally in the past month. This boon resulted in an overall surge of over 285% since January, ranking AVAX among the best-performing cryptocurrencies within the top 10 projects this year.

Despite a 3.8% correction in the daily charts and a 5.9% weekly correction, the token's value is expected to surge further as we transition into the new year.

Chainlink (LINK)

Another significant player in the 2023 cryptocurrency market is Chainlink$15.6 -4.61% (LINK). Mirroring AVAX, LINK experienced challenging times for most of 2023. Nonetheless, the token began its upward trajectory in mid-October, registering over a 22% increase on the monthly charts. With an skyrocketing rally of over 209% since January, LINK certainly establishes itself as one of the best-performing cryptocurrencies of 2023.

Edited by Jonathan Stoker