2023 is a time of change, depending on the local trend picture, we can see either a reversal with steady growth, or a continuation of the bearish trend, which will be focused on blockchain builders! DAO projects deserve special attention and study within the framework of this article, so let’s try to figure out which DAO cryptocurrency will be the best in 2023!
The screenshot below presents the top 10 DAO cryptocurrencies by market capitalization (CoinMarketCap) ***
As you can see, the top 10 DAO tokens are occupied by Uniswap, Apecoin, LIDO finance, AAVE, Bit DAO, Curve, Maker DAO, DASH, Synthetic protocol and Compound projects. The indicator of total capitalization does not always indicate the success of the project, because we still need to take into account the circulating supply of tokens (how many of them are currently available on the market). Therefore, let’s look at those tokens whose supply is very limited, which means that this gives us additional opportunities to find entry points. $APE, $BIT and $CRV At the moment, they have no more than 40% of the total emission in communication, therefore, with large discrepancies, we will be able to buy these tokens below the current prices!
$APE appeared on the market only in 2022 and made a real boom! The present NFT metaverse is closely associated with Yuga Labs and Bored APE. The APEcoin DAO Fund aims to strengthen the impact and usefulness of these collections, give them new applications in the future, as well as create a transparent decentralized management system. This is the most expensive monkey NFT collection and hype was based on these names. It is possible that APE holders will receive gifts from the creators of these collections, as well as the right to receive their new digital works.
$BIT the native token of the BIT DAO project, it is a community of developers, market makers and other web3 specialists who lead their DAO to success! They have helped launch several successful standalone DAOs and have links to exchanges and other influential people in the crypto space. Any initiatives are sponsored from the bit DAO treasury which currently contains more than 2,5B$ in different crypto assets!
$CRV A fully decntralized DEX managed by a community of CRV token holders. The community conducts continuous development through grant programs, so any participant who wants to benefit the project will be able to put forward their proposal and indicate in the cost item the required number of CRV for implementation. The project has been working for several years and has proven itself well, has many stable pools and the ability to create your own custom pool, so regardless of whether you are a CRV holder or not – there is an opportunity to earn!
2023 may open up new prospects for the development of DAO projects. If the crypto winter ends and there is a revival in the market, given the experience of past years, the DAO community will attract many new investments to themselves. It seems to me that a fire will happen soon and you just need to light a match next to this DAO fire!
Until we get confirmation of a trend change, there is no point in engaging in high-risk investments. Pay attention to projects that have been running for several years or launched in 2022. Explore potential earning opportunities with minimal investment, and when taking a portfolio position in DAO tokens, always remember the DCA strategy. In 2023, in my opinion, metaverses, DAOs and AI-related projects will be popular. Remember to manage risk and diversify your portfolio! DYOR!
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I'm Carina, a passionate crypto trader, analyst, and enthusiast. With years of experience in the thrilling world of cryptocurrency, I have dedicated my time to understanding the complexities and trends of this ever-evolving industry.
Through my expertise, I strive to empower individuals with the knowledge and tools they need to navigate the exciting realm of digital assets. Whether you're a seasoned investor or a curious beginner, I'm here to share valuable insights, practical tips, and comprehensive analyses to help you make informed decisions in the crypto space.