Our Disclosure

The content on this website includes links to our partners and we may receive compensation when you sign up, at no cost to you. This may impact which products or services we write about and where and how they appear on the site. It does not affect the objectivity of our evaluations or reviews. Read our disclosure.

Next Bitcoin: What Cryptocurrencies Will Explode in 2023?


Fact Checked

What is the next big cryptocurrency to explode in 2023?

As we continue to go through a crypto winter, you may be wondering what coins you can buy right now to make it big soon. And which crypto is the next best thing to Bitcoin?

These and more are the questions being asked by the many crypto bounty hunters who want to cash in on the historic run we have seen over the last few months.

The price of Bitcoin went up from $5,300 USD to over $60,000 in less than 14 months from 2020 to 2021.

With that said, we have also seen the markings of what is truly a risky investment – price drops of 30% and higher within a matter of hours.

And Bitcoin is now trading at low prices we haven’t seen for over a year, in the $16-$30K range.

In your bid for the next big cryptocurrency in 2023, you should keep in mind that the long-term investment value of crypto-assets is no sure thing. You could make a lot of money or lose everything.

Related: Best Cryptocurrency Trading Apps

What Cryptocurrency Will Explode Like Bitcoin in 2023?

The next crypto winner is anyone’s guess. Given that there are over 21,000 coins out there on the interwebs, there is no easy way to analyze them all.

One option for streamlining your choice is to look at its public appeal as measured by the coin’s market capitalization.

The top 10 digital assets like Bitcoin we are watching based on this metric are:

1. Ethereum (ETH)

Ethereum is a decentralized blockchain that uses Ether as its native currency. It is a top crypto coin with the potential to explode in price.

The Ethereum blockchain is used to facilitate smart contracts, and it serves as a platform for creating and running other crypto coins.

Although high gas fees continue to plague Ethereum projects, it has retained the top spot in the world of smart contracts and dApps.

Vitalik Buterin first introduced Ethereum in 2013. It had a market cap of over $269 billion as of December 4, 2023.

Learn more about Ethereum and how to buy it.

2. Ripple (XRP)

The RippleNet platform is a digital payment network and protocol that is used by many banks for processing global transactions.

The company also created a native token known as XRP, and it is based on an open-source blockchain known as the XRP Ledger.

XRP transactions are completed very fast (3-5 seconds) compared to Bitcoin, which takes several minutes. It also uses very little energy.

While Ripple is currently embroiled in legal complications in the U.S., many crypto enthusiasts are betting that the coin will see a significant spike in demand if it wins its legal battles.

XRP was first launched in 2012. As of December 4, 2023, it had a market cap of $33.5 billion.

Learn more about XRP and learn about how to buy XRP in Canada.

3. Cardano (ADA)

Cardano uses the Ouroboros peer-reviewed blockchain protocol to facilitate secure payments and protect privacy. Its currency is known as ADA.

Cardano uses a “proof-of-stake” consensus mechanism to verify transactions on the blockchain, which is more efficient than the “proof-of-work” system used by Bitcoin and Ethereum.

Charles Hoskinson founded Cardano in 2015. As of December 4, 2023, ADA had a market cap of $14.4 billion.

Here’s how to buy Cardano in Canada.

4. Binance Coin (BNB)

Binance coin was launched in 2017 and is the token issued by Binance, one of the world’s largest cryptocurrency exchanges.

It was initially built on the Ethereum blockchain but now works on the Binance Chain.

The Binance network continues to grow, and there’s a good chance that BNB will rise as the cryptocurrency market expands.

Binance Coin had a market cap of $35.4 billion on December 4, 2023.

5. Solana (SOL)

Solana is one of the fastest blockchains in the world. It can support more than 50,000 transactions per second and is perhaps Ethereum’s main competitor today.

Like Ethereum, its ecosystem is used to kickstart various digital projects and decentralized apps in the DeFi, NFT, and Web3 worlds. Unlike Ethereum, transaction fees on Solana are very low.

The Solana platform was founded in 2017 by Anatoly Yakovenko.

As of December 4, 2023, SOL had a market cap of $26.2 billion. Learn more about it here or buy it in Canada.

6. Polkadot (DOT)

Polkadot was founded by Gavin Wood, Peter Czaban, and Robert Habermeier. Its token is referred to as DOT.

The Polkadot platform and architecture are used to facilitate the operation of other blockchains and cryptocurrencies.

DOT had a market cap of $7.2 billion as of December 4, 2023.

Here’s how to buy Polkadot in Canada.

7. Avalanche

Avalanche was launched in 2020 by Ava Labs, founded by Cornell University Professor Emin Gun Sirer.

It is an open, programmable smart contracts platform that provides a layer one blockchain network for building decentralized applications (DApps) and custom private or public blockchains (subnets). 

Avalanche has its own native cryptocurrency, AVAX, and it has become a popular blockchain for smart contracts, rivalling Ethereum in this regard.

The market cap for Avalanche as of December 4, 2023, was $8.2 billion.

8. Dogecoin

Dogecoin was created by Billy Markus as a meme coin in 2013 and has since grown rapidly in popularity due to interest from Elon Musk.

There is no limit to the number of Dogecoin that can be mined and its market cap as of December 4, 2023, is $12.9 billion.

Dogecoin is a memecoin like Shiba Inu, and you never know when someone (Hi Elon!) will pump it to the next high.

The highest price of 1 DOGE was reached on June 4, 2021, when it hit $0.7376 per coin.

Here are the platforms that offer Dogecoin.

9. Stellar (XLM)

This decentralized payment protocol facilitates global payment transactions between currencies – both fiat and digital at a low cost. It was founded in 2014 by Jed McCaleb (Ripple co-founder) and Joyce Kim.

The Stellar network has been used in various real-world applications, including micro-financing, non-cash remittances, and other digital infrastructures.

Stellar has seen better days to be sure, but we are still bullish on this coin for now.

Its market cap as ofDecember 4, 2023, was $3.4 billion.

10. Litecoin (LTC)

Litecoin was founded by Charlie Lee in 2011, a former Google employee. It is a peer-to-peer internet currency similar to Bitcoin, although its Blockchain can handle faster transactions.

The maximum Litecoin that can be produced on the network is 84 million. Litecoin’s market cap as of December 4, 2023, was $5.4 billion.

11. Bitcoin Cash (BCH)

Bitcoin Cash was created via a hard fork of Bitcoin in 2017. It is a separate cryptocurrency and is limited to a supply of 21 million coins.

Bitcoin Cash had a market cap of $4.9 billion as of December 4, 2023.

Here are the various ways to buy Bitcoin Cash in Canada.

Thirteen other coins that have been trending a lot in recent times are:

  • Chainlink (LINK)
  • Uniswap (UNI)
  • VeChain (VET)
  • Polygon (MATIC)Dai (DAI)
  • EOS (EOS)
  • TRON (TRX)
  • Wrapped Bitcoin (WBTC)
  • Filecoin (FIL)
  • Monero (XMR)
  • Neo (NEO)
  • Aave (AAVE)
  • Crypto.com Coin (CRO)
  • Shiba Inu (SHIB)

How To Buy Cryptocurrency in Canada

There are many crypto exchanges and platforms offering popular coins for trading. The best crypto exchange in Canada is:


This exchange offers access to about 40 coins. It also allows easy funding via Interac e-Transfer, debit card, bill pay, and bank wire.

Bitbuy works well for beginners and experienced crypto investors alike, and you can open an account and start trading almost instantly.

  • Coins offered: BTC, ETH, LTC, XRP, BCH, XLM, ADA, EOS, UNI, DOT, SHIB, SOL, AVAX, etc.
  • Promotion: Get a $50 bonus when you open an account, and your first deposit is at least $250

Bitbuy Crypto Exchange


Get a $50 bonus if your initial deposit exceeds $250

Trade approx. 40 coins

Great for new & advanced traders

0% to 2% trading fee

What are Cryptocurrencies?

A cryptocurrency is a digital currency or asset designed to facilitate the purchase of goods and services similar to fiat money.

Unlike traditional currencies that are controlled by a sovereign government’s Central Bank, cryptocurrencies are decentralized and are protected using cryptography.

Transactions involving crypto occur on a public ledger (Blockchain), which records them for verification and addition to the blockchain.

Today, there are thousands of cryptocurrencies with various missions, features, utility, and downsides.

You can buy your favourite crypto assets using a crypto exchange or brokerage platform.

What is Bitcoin?

Bitcoin is the most popular cryptocurrency globally and has the highest market capitalization – over $819 billion as of December 4, 2023.

The idea of Bitcoin was first introduced by Satoshi Nakamoto in 2008 (the real identity of the founder is unknown).

Several other crypto coins have since been designed to mimic Bitcoin. These Bitcoin alternatives are referred to as “altcoins.”

Should You Invest in Cryptocurrency?

While we have listed the top cryptocurrencies based on their market capitalization as of this writing, these top contenders are always in flux due to the fast-paced nature of the cryptocurrency market.

Given its speculative nature, investing in cryptocurrencies is not advisable for many people, especially if you are using funds you cannot afford to lose.

Related reading:

In your opinion, what is the next big cryptocurrency to explode like Bitcoin in 2023? Let us know in the comments.

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.

Best Crypto Offer This Month

Overall best crypto exchange in Canada + $50 bonus

Top registered and regulated crypto trading platform for Canadians.

$50 instant reward when your initial deposit is at least $250 or more.

Access over 40 popular coins and altcoins and staking to earn interest.

Competitive low trading fees for crypto and free deposits.

Get access to advanced trading tools.

Access nearly 70 crypto assets with one-click trading + $25 bonus

Instant deposit with e-Transfer and supports CAD and USD.

$25 bonus when you verify your account and deposit $150.

Offers almost 70 crypto assets.

0.50% to 2% trading fees; free fiat deposits and withdrawals.


Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances. You can read his full author bio.

About Savvy New Canadians

Savvy New Canadians is one of Canada's top personal finance platforms. Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. Learn more about Savvy New Canadians.

Free financial education

Expert advice

Free resources

Detailed guides

2 thoughts on “Next Bitcoin: What Cryptocurrencies Will Explode in 2023?”

  1. Gravatar for Andy

    Bnb is NOT a stable coin. BUSD is
    I had 500 Bnb when it was $5
    It’s now almost $500… that she a 100x more. Stable coins are BUSD / Tether / PAX …. not BUSD.
    Therefore incorrect.

    • Gravatar for Enoch Omololu

      @Andy: You are right about BNB not being a stablecoin…the article has been updated. Cheers.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.