The cryptocurrency market faced major setbacks in 2022 with several negative headlines hitting companies in the sector and driving down the price of major cryptocurrencies. With the crypto industry in a bear market, many wonder if the sector will experience a comeback in 2023 or instead continue to see falling prices.
Benzinga asked followers which cryptocurrency could outperform in 2023.
What happened: Among the top cryptocurrency stories in 2022 it was the falls of Celsius, 3AC, Traveler and stablecoin Tie USDT/USD. The other big news to which the market continues to react is the bankruptcy of FTX cryptocurrency platform.
The cryptocurrency market capitalization reached a peak of $2.9 trillion in November 2021, a month in which many cryptocurrencies reached all-time highs.
In 2022, the market capitalization of the cryptocurrency sector fell below $1 trillion and ended the year below $800 billion.
Major cryptocurrencies were affected, with Bitcoin USD/BTC, Ethereal EUR/USD, dogecoin DOGO/USD Y Solarium SUN/USD among the biggest losers of the year.
Related link: 'You can't ignore us. Here We Are': Brock Pierce at Blockchain Hub Davos 2023
Gasoline survey: On Twitter, Benzinga I ask his followers about the cryptocurrency market for 2023. Followers were asked โwhich cryptocurrency will perform the best in 2023โ out of the four mentioned above.
The results of the survey were:
- Dogecoin: 26.7%
- Bitcoin: 38.5%
- Ethereal: 28.7%
- Solana: 6.2%
Bitcoin, the leading cryptocurrency, led the poll with 38.5% of the vote, closely followed by Ethereum and Dogecoin in second and third place, respectively.
Solana lagged behind the other three, garnering just 6.2% of the vote.
Twitter user @CEOofX voted for Solana with the thought โSol just because of how low it has goneโ.
Others on Twitter did not like any of the four options.
User @richardallanmcl said "everyone got zero in 2023".
User @UofT2020 asked "why not choose blocking?"
time will tell which one cryptocurrency will lead the way in 2023 and Benzinga will continue to cover the sector.
Follow Benzinga on Twitter to participate in more surveys.
