The major cryptocurrencies to be considered low-cost with an effective surge in 2023: Shiba Inu (SHIB), RenQ Finance (RENQ), and Polygon (MATIC). The prominent growth in these cryptocurrencies over the previous year through fascinating features to stand ahead of other coins in the crypto market. Get to know some of the reasons and keep an eye before considering such crypto investments.
Shiba Inu (SHIB): Dogecoin Killer
Shiba Inu (SHIB), a meme-based altcoin in the crypto industry debuted on the Ethereum (as an ERC-20) network in the year 2020. SHIB developers hoped to establish competition with Dogecoin (DOGE) by capitalizing on meme-based popularity. Moreover, SHIB attracted a huge following among the crypto community once it got introduced. Firstly, Shiba Inu has an enthusiastic community named the “Shib Army.” Nextly, SHIB is limited to one quadrillion tokens, 50% of which were burnt by transferring them to Ethereum co-founder Vitalik Buterin’s wallet. Further, Shibarium, a layer 2 protocol is a great initiative that allows for instant and cheaper transactions.
Shiba Inu (SHIB) is predicted to continue its upward trajectory in 2023, hoping to reach a value of $0.0000158684. However, to mention, the growth potential is dependent on the overall health of the crypto ecosystem.
RenQ Finance (RENQ): Cross-Chain Asset Exchange Network
RenQ Finance (RENQ), a unified platform for decentralized exchange (DEX) launched in 2023 that currently gaining traction in the DeFi space. Meanwhile, it focuses on connecting all isolated blockchains thereby establishing a cross-chain asset exchange network. This is helpful in providing effective underlying support for the DeFi ecosystem.
However, RenQ Finance (RENQ) supports multiple blockchains like Ethereum, Binance Smart Chain, Polygon, Solana, and more. These blockchains allow users to access various DeFi protocols and assets across different chains in a safe and efficient way. RENQ possesses a greater community contributing to its development and growth. In overall, it acquired over $14.5 million within two months of its nearly sold-out presale campaign.
The RenQ wallet software unites all decentralized exchanges into one decentralized application (dApp), providing consumers to exhibit diverse liquidity options. With this capability, DeFi users may now easily conduct all classic DeFi trading, farming, mining, staking, lending, borrowing, and shorting respectively. Meanwhile, this gives a positive impact on a variety of new products which are available through massive centralized exchanges. This supposes the ecosystem of DeFi to be indulged with the advantages of centralized exchanges. Alongside, RENQ is exhibiting a greater response with a price surging to $2 in the year 2023. Overall, the successive transformation takes a unique liquidity approach to the platform building a strengthened community of supporters.
Polygon (MATIC): Ethereum Scaling Solution
Polygon (MATIC), is an Ethereum scaling solution that aims to provide a secure and worthwhile replacement for traditional financial services. It utilizes technologies like smart contracts and blockchain for several services including lending, borrowing, staking, gaming, and NFTs.
Furthermore, Polygon is enriched with EVM compatibility providing instant transactions at near-zero gas fees. Additionally, it supports multiple scaling solutions, such as Plasma chains, ZK-rollups, and Optimistic rollups. It also allows users to rely on Polygon for their needs and preferences and it holds a large and thriving ecosystem of over 28K contract creators.
This post was authored by an external contributor and does not represent TheNewsCrypto’s opinions. This content is for informational purposes only and not intended to be investing advice.