We reached out to industry experts to gather their thoughts on which cryptocurrencies show the most promise for December 2023. With over 18,000 cryptocurrencies now in existence and new ones launching daily, it can be incredibly difficult for investors to cut through the noise and identify potential winners. By tapping into the wisdom of crypto insiders, we aimed to find out which specific currencies veterans are most excited about in the coming month, and why.
Our panel of experts provided valuable perspective into the key factors setting apart the likely outperformers: real-world utility, innovation, sound tokenomics, and clear catalysts that could drive growth in December. Armed with their picks and insights, retail investors have an informational advantage in navigating the crowded crypto space. Whether you're looking to diversify your portfolio or make a speculative play, it pays to see which assets the pros are most keen on right now and their reasoning why.
So without further ado, based on expert input, here is a TLDR list of the top 10 cryptocurrencies to consider for investment in December 2023. Stay tuned below for a more detailed explanation on each currency:
What are the top 10 cryptocurrencies to invest in December 2023?
- Bitcoin (BTC) - The original crypto with the most adoption and longevity. Fixed supply supports value.
- Polkadot (DOT)- An interconnected blockchain network that allows different chains to transfer data and assets between one another seamlessly.
- Ethereum (ETH) - Powerhouse of decentralized apps and smart contract functionality. Transition to proof-of-stake ahead.
- XRP (XRP) - Fast, affordable cross-border payments. Legal clarity could spark a recovery rally.
- Chainlink (LINK)- A decentralized oracle network that securely provides external data feeds and computation power to blockchains to expand their functionality.
- Monero (XMR) - A privacy-focused cryptocurrency that uses sophisticated cryptography to obscure transaction origins, amounts, and destinations to achieve complete anonymity.
- Shiba Inu (SHIB) - Surprise memecoin darling of 2021. Vibrant community engagement continues.
- Toncoin (TON) - Native token of Telegram blockchain. Leverages Telegram's vast user base.
- Cardano (ADA) - Ultra-fast and low cost Ethereum rival. Developer momentum keeps growing.
- Tezos (XTZ) - A self-upgrading proof-of-stake blockchain network that can implement new features and fixes through on-chain governance voting.
December 2023 is right around the corner, making now an excellent time to research the top cryptocurrencies to consider for investment in the coming month. The crypto markets are notoriously volatile, so it pays to understand the strengths and weaknesses of the leading digital coins and tokens before putting in your hard-earned money.
Factors to Consider When Investing in Cryptocurrencies
When it comes to investing in cryptocurrencies, there are several critical aspects to consider to maximize potential returns. Matt N., Co-Founder of Blocks United, suggests, "You're looking for crypto assets with tremendous upside potential. You must look at use-case, team, tokenomics, market cap, volatility, network strength and security, staking reward APY, and community activity." For more detailed insights, you can check out their article on how to choose the right cryptocurrency for staking.
"Trading crypto is exceptionally difficult, even for professional money managers. Instead, it makes sense to have a longer time horizon and to ignore the hype of the latest token being shilled on X or Reddit."
So which cryptocurrencies have the best shot at surging in value in December 2023? Read on for our expert analysis of the 10 most promising digital currencies likely to provide healthy returns or at least outperform Bitcoin in the coming weeks. Let’s begin by examining the giant of the crypto world that started it all.
As the original cryptocurrency that started the entire crypto revolution, Bitcoin holds an important place in the industry. Created in 2009 by the mysterious Satoshi Nakamoto, Bitcoin pioneered the use of blockchain technology to enable peer-to-peer digital transactions without the need for banks or other intermediaries.
While Bitcoin offers privacy from government oversight, its public blockchain also promotes transparency - all transactions are visible to anyone. However, users interact with the network pseudonymously, only identified by their wallet addresses as strings of letters and numbers.
Gustaf, founder of The Crypto Breakdown, expands on this notion by highlighting the cryptocurrency's recent performance. "Bitcoin diverged from and outperformed the S&P 500 with a 20% growth in recent days. As Bitcoin ETFs are likely to be approved in 2024, the currency stands to gain significant momentum. It appears that the current macroeconomic uncertainties are, paradoxically, benefiting Bitcoin," says Gustaf.
It appears that the current macroeconomic uncertainties are, paradoxically, benefiting Bitcoin
In terms of adoption, Bitcoin has seen growing real-world use cases beyond just an investment asset. Major companies like Microsoft, AT&T, and Overstock.com now accept Bitcoin payments. The cryptocurrency also enables micropayments and remittances to be sent across borders rapidly and cheaply.
For many, Bitcoin is seen as a store of value, a "digital gold" if you will, that offers a level of security and potential for appreciation unlike any other cryptocurrency on the market.
Jamal Farah, the Chief Information Officer at Roowaad Inc, shares this sentiment:
"Bitcoin (BTC) is always a safe bet, as it's the most well-established and widely accepted cryptocurrency. It's often seen as a sort of 'digital gold,' and its value tends to increase over time."
Adding to its appeal, Ryan O'Donnell, co-founder of Stratus.io, a Bitcoin DCA bot, offers his perspective: "We're still a few moves away from Bitcoin usurping USD as the world reserve currency but it's still really early for BTC. Currently trading above $36k and up over 28% in the last 30 days. I don't think we'll ever see the teens again and $26k would be a gift to enter a long position. Who isn't bullish on Bitcoin for the next 12 months especially with the historic cyclical run up to the halving and pending ETF approval?"
Ryan also emphasizes the importance of paying attention to the number of new wallets created and expects increased buy-side pressure as 'early adopters' enter the market. His short-term strategy involves setting up a more aggressive recurring buy and utilizing limit orders to double down on the dips.
In summary, Bitcoin still dominates as the most valuable and recognized cryptocurrency brand. With its capped supply and deflationary pressures building, Bitcoin looks poised to resume its long-term upward trajectory after weathering the crypto winter storm. While risks certainly exist in this volatile market, Bitcoin promises to continue rewarding patient, long-term investors.
#2 Polkadot (DOT)
Polkadot is gaining attention for its unique approach to blockchain interoperability, allowing different blockchains to interact and transfer value in a secure, trust-free fashion. This enables a variety of new applications and use-cases that promise to enhance the broader blockchain ecosystem.
Adding to this, Andrew Lokenauth, a financial expert with 15 years of experience and founder of BeFluentInFinance.com, states,
"Polkadot has an interoperable sharded blockchain allowing the transfer of data between chains. It has an ambitious vision for a connected multi-chain future."
With extensive experience in the financial industry and leadership roles in prominent institutions such as JP Morgan, Goldman Sachs, and Citi, Andrew's insights carry significant weight.
Maxwell, the founder of CasinosCodes.com, weighs in on why he's bullish on Polkadot: "For December 2023, my top pick would be Polkadot (DOT). The reason is its interoperability—the ability to connect and facilitate the transfer of any type of data or asset across blockchain networks. This enhances its scalability, makes it a practical choice for any operation looking to implement a connected, multi-chain strategy. Given the increasing emphasis on cross-chain platforms, I believe Polkadot presents a promising investment opportunity. It allows for increased communication and flexibility in a space that is, by nature, built on a diverse range of networks."
He also adds, "The fact that Polkadot is developed by Ethereum co-founder Gavin Wood only adds to its reliability. It's also received significant backing, including from several established tech companies. These factors all contribute to my confidence in Polkadot's potential for return on investment."
Given its robust technology and ambitious vision, Polkadot (DOT) stands as a promising candidate for those looking to diversify their cryptocurrency portfolio this December.
Ethereum has always been a frontrunner in the cryptocurrency world, especially when it comes to smart contracts, decentralized finance (DeFi), and non-fungible tokens (NFTs). With the recent Ethereum 2.0 upgrade, the blockchain has taken a significant step toward resolving its previous limitations on scalability and energy consumption.
Markus Kraus, Head of Sales and Marketing at an online brokerage firm and owner of the trading blog Trading Verstehen, considers Ethereum 2.0 to be the top pick for December 2023. "The recent upgrade is designed to resolve scalability and energy consumption issues, making it an attractive option for both institutional and retail investors," says Markus.
"The shift to a Proof of Stake model has not only sustainability benefits but also presents scalability advantages that will be crucial for the future of DeFi and NFTs. These sectors have been experiencing exponential growth, and Ethereum sits at the heart of these ecosystems."
Markus's insights align well with the prevailing sentiment that Ethereum 2.0 will play a pivotal role in the future of decentralized technologies. If you're looking to invest in a crypto asset that's poised for growth and innovation, Ethereum might be a promising candidate.
Author of the website CryptoWisdom and a digital asset advisor Andy LaPointe, who has a 15-year corporate background as a registered investment advisor, provides a succinct but compelling argument for Ethereum's place in the crypto pantheon. "Ethereum not only holds the second-largest market cap after Bitcoin, but it's also the leading smart contract ecosystem. Its transition to Proof-of-Stake in September 2022 has further solidified its position. As institutional money continues to enter the crypto market, cryptocurrencies like Ethereum—with proven track records and widespread adoption—will likely be the primary focus for smart investments," LaPointe observes.
Krishna Rungta, founder of Guru99, provides an expert viewpoint on why Ethereum remains a solid choice for investment.
"Beyond its role as a cryptocurrency, Ethereum serves as a platform for building decentralized applications (dApps). Its smart contract functionality, which enables automated and trustless transactions, adds a layer of utility that's especially pertinent in our increasingly digital world," says Krishna Rungta.
He also discusses Ethereum 2.0, the platform's ongoing upgrade, noting its potential for sustainability and attractiveness to institutional investors. "The transition to Ethereum 2.0 aims to enhance scalability and security while transitioning to a more eco-friendly proof-of-stake (PoS) consensus mechanism," Rungta points out.
Investors aren't merely betting on a currency when they invest in Ethereum, Rungta argues; they're backing a platform with the potential to revolutionize various industries through its decentralized solutions.
Ethereum's strong fundamentals and recent technological advancements make it a prime candidate for your investment considerations this December 2023.
XRP has had its share of controversies, especially with its ongoing legal battle with the SEC. Despite this, the cryptocurrency continues to be a significant player in the market. One might wonder if XRP's trials and tribulations have dampened its investment potential, but there are those who think otherwise.
Edward, the owner of the technology blog Fliptroniks, has a bullish perspective on XRP. "Hate it or love it, XRP will not go away. Looking to revolutionize the way cross-border payments are done, XRP has solidified itself as a top-tier cryptocurrency," Edward says. "It not only has staying power but is one of the only top 10 ranked cryptocurrencies that has yet to break its old all-time high. Get this one and hold it for the long term."
Considering Edward's outlook, XRP seems to be a cryptocurrency with substantial long-term potential. If you're looking for an asset with a strong history and a focus on revolutionizing payment systems, XRP might be the one to watch.
Newly adding to the discourse, Darren Mack from Blockchain Buyer claims that XRP is the "Only Cryptocurrency asset in the US with verifiable proof of legal clarity in 2023." This comment provides an additional layer of validation to XRP's standing, especially considering the regulatory ambiguities that plague many other cryptocurrencies.
XRP has some key utilities that make it useful:
- Settlements - Ripple offers its On-Demand Liquidity (ODL) product to banks to enable faster cross-border payments by using XRP to bridge between currencies and avoid traditional intermediaries.
- DeFi - Developers can build decentralized finance products and services leveraging XRP and the XRP Ledger to facilitate lending, trading, stablecoins and more.
- Tokenization - XRP can be used to tokenize assets like commodities and real estate on the XRP Ledger.
Price and Market Outlook
The price of XRP currently trades around $0.50 as of September 2023. Its all-time high exceeded $3.60 in January 2018 during peak crypto bubble mania. However, a SEC lawsuit alleging XRP constitutes an unregistered security has weighed heavily on its price the past two years.
If the SEC suit reaches a settlement, experts predict a rapid recovery and rally in XRP. Ripple has continued expanding partnerships, including with the Palau Central Bank. It also built liquidity hubs this year across key remittance corridors.
As adoption of Ripple's ODL and other XRP-based financial products grows, the performance of the digital asset XRP should strengthen significantly. Increased utility will support long-term value.
#5 Chainlink (LINK)
Chainlink serves as a bridge between blockchain technology and real-world applications, by allowing smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems. Chainlink's decentralized oracle network provides the same security guarantees as smart contracts themselves. With more real-world data being brought onto blockchain platforms, the value proposition of Chainlink's technology becomes increasingly significant.
Anup, the Founder of AutoLoanCalculator, provides his perspective on Chainlink:
"Simply put, Chainlink is like a bridge connecting the real world and the blockchain world. Imagine a world where your smart contract on the blockchain can get info from the outside - that's what Chainlink does. It's been growing because of this unique trait. As more folks in crypto start to see the value of what Chainlink offers, its demand seems set to rise. Given the way it's moving, I reckon Chainlink is a strong pick for December 2023."
Chainlink's unique capability to link blockchain technology with real-world data makes it a pioneering solution in the industry and one worth considering for long-term investment.
#6 Monero (XMR)
For those prioritizing privacy in their cryptocurrency transactions, Monero (XMR) offers a compelling case. Unlike other cryptocurrencies that offer transparency as a feature, Monero provides complete financial privacy, allowing you to execute transactions without exposing the amount involved or the parties participating.
Saqib Iqbal, a financial enthusiast and funds manager from Trading.Biz, recommends Monero as a prime choice for December. "The adoption of Monero in online shopping is one of the key reasons for a bullish stance on it," he notes.
"With Black Friday and year-end clearance sales around the corner, the demand for the coin may see a spike. Moreover, the coin is trading at a broad range between $125 and $180, compared to its previous all-time high of $519, making it a great buying opportunity."
Saqib also observes that the broader upward bias in the cryptocurrency market may be fueled by a pause in the Federal Reserve's tightening cycle and the growing perception of cryptocurrency as an alternative investment.
Jonathan Merry from Moneyzine, a seasoned investor and cryptocurrency expert, also speaks highly of Monero: "Monero is currently outperforming many other cryptocurrencies. It serves a specific purpose and is arguably the top privacy-focused coin available. I believe Monero embodies the purest form of cryptocurrencies as it was intended to be used."
He elaborates further, "For December 2023, there is a generally bullish market sentiment for XMR, and the cryptocurrency's value will likely increase next month. Many view BTC as 'digital gold' for investors, XMR is recognized for its privacy but might not be suitable for transactions with large volumes. A distinguishing feature of Monero is its autonomy, even in the absence of exchanges."
"If these exchanges were to disappear, peer-to-peer currency would persist, and individuals would discover innovative methods to swap fiat for Monero. One might assume that acquiring XMR without exchanges would be challenging. Yet, initiatives like Bisq and other peer-to-peer systems would remain functional, offering people inventive routes to trade fiat for Monero."
If you are looking for a cryptocurrency that offers full privacy and has a bullish outlook for December 2023, Monero, backed by multiple expert opinions, could be the coin for you.
#7 Shiba Inu (SHIB)
One of the biggest crypto success stories of 2021 was the incredible rise of Shiba Inu. This Ethereum-based memecoin soared over 100,000,000% to enter the top 10 cryptocurrencies by market cap. While volatility remains high, Shiba Inu has solidified itself as a popular speculative asset with a dedicated community.
Mystery surrounds the creation of Shiba Inu in August 2020. Presumably founded by an anonymous individual or group called Ryoshi, Shiba Inu emerged during the height of the meme coin and dog coin craze started by Dogecoin.
The token's website refers to it as an "experiment in decentralized spontaneous community building." There are 1 quadrillion SHIB tokens in circulation with about half burned to Vitalik Buterin, lowering supply. Shiba Inu took off in 2021 thanks to aggressive online marketing and influencer promotion.
Key Drivers of Growth
Several factors fueled the meteoric rise of Shiba Inu:
- Viral social media buzz and online community engagement
- Listing on major crypto exchanges like Binance and Coinbase
- Dogecoin spinoff connections
- Intrigue over anonymous founder Ryoshi
- Emergence of an ecosystem including NFTs, metaverse land, and stablecoin
This powerful combination elevated Shiba Inu into the crypto stratosphere briefly as speculation went wild. SHIB remains a top memecoin pick for traders seeking massive gains.
What's Ahead for SHIB
Shiba Inu currently trades for a fraction of a penny, down significantly from its peak. Supply dynamics and lack of real utility pose challenges for sustaining higher valuations long-term.
However, the vibrant Shiba Inu community known as the "ShibArmy" continues driving engagement. If crypto markets regain strength in 2023, another memecoin rally could materialize. But SHIB would likely need to offer real-world utility beyond trading to justify a return to its former glory.
In summary, Shiba Inu shocked the crypto world by delivering once-in-a-lifetime gains. As a top memecoin, it can't be counted out completely thanks to the power of internet culture. But investors should weigh risks before putting money into this ultra-volatile cryptocurrency.
#8 Toncoin (TON)
Toncoin is the native cryptocurrency of the Telegram Open Network, a blockchain platform developed by the founders of the popular messaging app Telegram. Launched in 2021, Toncoin aims to be a fast, scalable payments network integrated into Telegram's large existing user base.
History and Background
In 2018, Telegram raised $1.7 billion privately to fund the development of TON and the Gram token. However, a legal battle with the SEC halted the project's launch. After settling with regulators in 2021, Telegram relaunched the network as the TON blockchain with Toncoin as its currency.
By leveraging Telegram's 500 million+ users, TON aims to drive mass adoption of Toncoin for micropayments, storage, staking, and interacting with decentralized apps. The network utilizes sharding and instant hypercube routing for speed.
Key Features and Utilities
Some key features of the Toncoin cryptocurrency include:
- Speed - Transactions confirm in seconds with the ability to handle millions per second. This enables real-time micropayments.
- Scalability - Thanks to sharding, TON can increase capacity by adding new shards. This allows massive scalability.
- Telegram integration - Seamless payments and app interaction directly within Telegram offers user convenience.
- Low fees - Fees are a fraction of a cent, even for micropayments, making Toncoin ideal for digital transactions.
- Staking rewards - Toncoin holders can earn attractive staking yields by validating transactions on the network as validators.
Price Performance and Outlook
Toncoin price currently sits around $1.30, down from its highs of $5.29 in April 2022 during a spike in hype following launch. Telegram dropping Toncoin wallet support temporarily caused a crash.
However, analysts remain bullish on TON's long-term growth trajectory as its integration with Telegram social media deepens. With one of the largest user bases in crypto already, TON offers major utility and adoption potential.
If the network can deliver on fast, scalable, low-cost payments and financial services for Telegram users worldwide, Toncoin seems poised to surge over the next few years to much higher valuations.
9. Cardano (ADA)
Cardano has been making headlines recently for its robust roadmap and the successful launch of its smart contracts platform through the Alonzo upgrade. While Cardano has always been a fan favorite, it's not just the community that's bullish about its future.
Artem Minaev, Senior Investment Advisor and Co-founder of CryptoDose, weighed in on why Cardano deserves its spot on this list. "Cardano's focus on sustainability, scalability, and interoperability has gained it immense traction," says Minaev.
"It's now poised to compete with Ethereum in the decentralized applications space. What also stands out about Cardano is its commitment to peer-reviewed academic research and a robust governance model. This instills confidence in its long-term viability. Its community-driven approach aligns well with our own perspective that this list should be community-oriented."
For investors looking for a blockchain platform that prioritizes innovation and sustainability, Cardano’s ADA token provides an excellent opportunity to participate in a growing ecosystem with substantial future potential.
#10 Tezos (XTZ)
Tezos is another cryptocurrency that has been making waves, particularly for its governance model that allows for protocol upgrades without hard forks. This flexibility has made it popular among developers looking to build decentralized applications.
Adding his insights to the discussion, Christopher William, founder of Balanced News Summary, points out, "Tezos has a strong team of experienced developers and a secure, decentralized network that has been designed to be self-amending. It also has a strong community of supporters who are actively involved in the development and future of the project. Furthermore, Tezos has an innovative staking system which allows users to earn rewards for helping secure the network. This system is attractive to both new and experienced investors, as it provides an easy way for them to grow their investments."
With its strong development team and active community, as well as an appealing staking system, Tezos (XTZ) may offer a balanced and promising investment opportunity for December 2023.
The cryptocurrency landscape continues rapidly evolving, offering both opportunities and risks for investors. While short-term price predictions are notoriously difficult, the blockchain technologies powering these innovative networks promise to transform finance, technology, and society in the years ahead.
By reviewing the top 10 cryptocurrencies for December 2023, we aimed to highlight projects demonstrating real-world utility, adoption, and community support. While memecoins illustrate the power of hype, ultimately long-term value accrues to networks solving real problems and empowering developers to build groundbreaking applications.
Leading smart contract platforms like Ethereum and Cardano are primed to unleash a new era of decentralized finance and transparent, trusted commerce without intermediaries. Privacy-focused coins like Monero and blockchain interoperability leaders like Polkadot address emerging needs for security, scalability, and communication between chains.
And whether serving as programmable money, an inflation hedge, a cross-border payment rail, or an engine of financial inclusion, cryptocurrencies are only just beginning to realize their world-changing potential.
Wise investors stay rational, tune out short-term noise, and stick to a long-term outlook when allocating to this emerging asset class. By smartly balancing a cryptocurrency portfolio and dollar-cost averaging into positions, investors have a shot at earning substantial returns as this technology matures.
The keys are judiciously researching projects, monitoring development roadmaps, and ignoring hype in favor of fundamentals. While risks exist, the promise of blockchain to fundamentally rearchitect modern life is too substantial to ignore. We hope these insights provide a helpful starting point for your own cryptocurrency research journey.