As the cryptocurrency market picks up steam at the start of 2023, investment opportunities are blooming again. Let’s take a look at the top 5 performing cryptocurrencies for January
The 5 fastest growing cryptos
The cryptocurrency market has surprised most analysts at the start of 2023. Beyond the beautiful rise of more than 30% of Bitcoin (BTC) and Ether (ETH) in the space of a few days, some altcoins have been very successful.
In this article, we offer a ranking of the 5 best performing cryptocurrencies for the month of January. For your information, we have taken the decision to consider only the 100 most capitalised assets on the market
Ranking of the 5 best performing cryptocurrencies in January 2023
Number 5: Frax Share (FXS)
Frax Finance is a liquidity staking protocol that issues the FRAX stablecoin, whose value is partially collateralized and partially algorithmically stabilized. The protocol’s governance token, the Frax Shares (FXS) price, has risen an exceptional 120% in the space of 30 days.
With the Shanghai update on Ethereum (ETH) fast approaching, protocols offering liquidity staking have seen an exceptional surge in interest at the start of the year. Frax is one such protocol that allows you to stage ETH and receive frxETH in return and thus continue to enjoy the benefits of decentralised finance (DeFi).
The main advantage of this protocol is its large CRV and CRX token treasury, allowing for better returns on Ether staking. As for the FXS token, it allows its holders to share a portion of the protocol’s rewards. This is one of the reasons why FXS has risen so much.
Number 4: Fantom (FTM)
This early 2023 year has also seen a big push in layer 1 blockchain cryptocurrencies. We’ve talked a lot about the strong performance of Solana (SOL), which is starting to bounce back from the FTX affair, but one of the biggest performances of the year has been in another layer 1: Fantom (FTM).
The price of FTM, the Fantom blockchain corner, has performed extremely well by 131% since 1 January 2023. It is currently trading at around $0.46.
The rumours of Andre Cronje’s return are no small part of this. The co-founder of the Fantom ecosystem was invited to speak at the Quantum Miami conference this week.
Number 3: Lido DAO (LDO)
Similar to Frax Finance, Lido is a Liquidity Staking solution on Ethereum. This allows users to store various assets without having to have the technical skills and still be able to take advantage of the liquidity of their crypto-currencies.
When an individual locks his ETH, he receives in return stETH which can for example be used later as collateral for loans. The LDO is the protocol’s governance token and has seen its price rise by 132% over the last 30 days.
The success of Lido and its LDO governance token is for the same reasons as FXS.
Number 2: Optimism (OP)
Optimism is the first optimistic rollup solution to be developed. Dedicated to improving the scalability of Ethereum, these sidechains were very popular in 2022.
Launched in June 2022 via an airdrop, the OP token had not really experienced a bullish period. With rumours of a potential new airdrop, users are busy making the most of the Optimism ecosystem’s protocols, which is gaining in value.
The OP’s share price has soared 140% since the beginning of January 2023. It has even taken the opportunity to list a new all-time-high (ATH) at a price of $2.5.
Number 1: Aptos (APT)
The big winner in early 2023 is Aptos’ APT. For the background, this layer 1 blockchain was born from the ashes of Meta’s Diem (or Libra) project. Part of the team decided to found Aptos Labs and the eponymous blockchain.
The latter is revolutionary in several respects. Firstly, by using a new programming language, and secondly by exploiting a new method of consensus. The Aptos APT was launched in October 2022 via a massive airdrop, which rekindled investor interest in the practice.
Also never having experienced a bull market, APT’s price quickly broke through its all-time high of $13 (when it was listed). With an exceptional performance of 395%, it has been sailing in price discovery for several days now.
