The cryptocurrency market faced a number of negative headlines in 2022, affecting companies in the sector and driving down the price of major cryptocurrencies. With the crypto industry in a bear market, many wonder whether the sector will experience a comeback in 2023 or will instead continue to see falling prices.
Benzinga asked followers which cryptocurrency could outperform in 2023.
What happened: Among the major cryptocurrency stories in 2022 there were waterfalls of Celsius, 3ac, Sailor and stablecoin lanyard USDT/USD, The other big story to which the market is still reacting is bankruptcy Cryptocurrency platform FTX.
Cryptocurrency market capitalization to peak at $2.9 trillion in November 2021, a month in which many cryptocurrencies hit all-time highs.
In 2022, the market capitalization of the cryptocurrency sector will fall below $1 trillion and fall below $800 billion at the end of the year.
Major cryptocurrencies were affected, along with Bitcoin BTC/USD, Ethereum ETH/USD, dog coin doge/usd And solana SOL/USD One of the biggest losers of the year.
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Benzinga Pole: On Twitter, Benzinga asked Its followers about the cryptocurrency market for 2023. Followers were asked “which cryptocurrency will have the best 2023 returns” from the four previously mentioned.
The election results were:
- Dogecoin: 26.7%
- Bitcoin: 38.5%
- Ethereum: 28.7%
- Solana: 6.2%
Leading cryptocurrency bitcoin led the poll garnering 38.5% of the votes, followed by ethereum and dogecoin in second and third place, respectively.
Solana trailed the other three, receiving only 6.2% of the vote.
Twitter user @CEOofX voted for Solana with the thought “Solana simply because of how low it’s gone.”
Others on Twitter didn’t like any of the four options.
User @richardallanmcl said “They all go to zero in 2023.”
User @UofT2020 asked “Why not crash as a select?”
what time will tell cryptocurrency will take the lead in 2023 and Benzinga will continue to provide coverage to the region.
Follow Benzinga on Twitter To participate in more voting.