The year is coming to a close & 2023 brings us a new year, with new opportunities to be had
in the crypto space. Will the markets rebound next year & flip bullish? What cryptocurrencies
are going to RIP once bullishness returns? Well today I’m dropping my top altcoin picks
for 2023…what are they? Find out in about ten minutes….because it’s time for Chico Crypto!!!
So what are my top coins for 2023!? Well before we dive head first into that,
we need to decide if 2023 will be the year the bears exhaust and the bulls takeover….
Well…a bull market will only return if the FED slows the pace of their
aggressiveness due to inflation falling to their target levels.
And the FED is beginning to slow their aggressiveness. Last FOMC
meeting on Wednesday of last week, the FED slowed their interest rate hikes for
the 1st time. They raised by 50 basis points, instead of the 75 like the 4 previous raises.
That is because inflation is dropping steadily, from a high of 9.1 in June down to 7.1 for
November…but things are looking even better for inflation, when you look at truflation…the actual
inflation number that is independently calculated taking in many other factors,
giving a better reading of inflation. Truflation has US inflation, at under 5.8 percent!!
So yes, if the trend continues…it seems the economic environment in 2023 will be
satisfactory enough for the markets to wake back up and turn bullish!!
Which means right now is the time to be preparing that 2023
BAG!! So what is my #1 altcoin pick for 2023!?
Well this year showed us exactly what crypto is all about.
You cannot trust centralized entities with your money. Celsius blew up,
FTX crashed and burned, and Binance is currently having big problems.
Thus crypto projects who focus on decentralizing trading are HIGH on
my radar. And one I’ve been bullish on throughout the year is GMX!!
GMX is a decentralized exchange that provides the decentralized trading
of assets, swapping and using up to 50x leverage to go long or short & if you're
going to use the leverage, make sure it is legal to do so in your country…
The value of GMX comes from the revenue share…100 percent of the platform’s fees are distributed to
holders of GMX & GLP, their liquidity pool token!! Their token design is beautifully
crafted, which allows for a compounding flywheel effect & the fees you receive
from trading on the exchange is paid in ETH!! And those FEES are just stacking and stacking
up…recently GMX flipped the binance smart chain on cryptofees, to become the 3rd highest producing
crypto product out there with over 1 billion in 24 hour fees paid out entirely to GMX & GLP stakers!
But something BIG is coming for GMX, which could even put it into a position to compete with
Binance in terms of trading volume….billions upon billions, 100s of billions even…
And that is GMX synthetics. GMX synthetics will allow the trading of any type of asset. It opens
the door to all crypto assets, and beyond into things like precious metals, stocks, and more.
As we can see the codebase is deployed in their github, and in their discord…KR of
the GMX team gave an update of what is going on with the development of the synthetics.
They said “Updates for the Week. Should be finishing up work on the interface code
for deposits and withdrawals for synthetics this week and moving on to the trading page.”
Deposits and withdrawals are done!!! Trading page is next…they are CLOSE!!!
My #2 Cryptocurrency for 2023 is one of my OG loves. It’s a coin I talk about a lot,
and some people might not like that…but it’s for good reason!!
Every cycle, the shitcoins get washed away in the bear, with many to never return. The real coins,
with real world adoption and users are the ones who start to RIP early in a
bull. And no other coin has as much real world adoption by BIG industry names than this one…
That is Energy Web!!
Do you need an example? Well going to Energy Web’s website,
and scrolling down to partners…the 1st one that rolls through is Google!!
But are there real world transactions happening on Energy Web with Google?
Yes there is….and Google is in on the BIG ONE!! Decentralizing
energy communities allowing them to transact their energy with one another!!
Back in October of 2020…I actually covered this, Energy Web and Community electricity partnered
to bring decentralized energy communities to California and beyond, across the Americas!
The article stated “The partnership will initially focus on three projects:
one in Los Angeles County, California, USA; a campus microgrid in Bogotá, Colombia;
and another in Medellín, Colombia’s second-largest city. In each project,
Energy Web and Community Electricity will deploy digital infrastructure
across multiple power plants, customers, and distributed energy resources (DERs) to enable
multiple applications leveraging the Energy Web Decentralized Operating System (EW-DOS)”
Back then I knew this was huge, especially since they were getting
to trail this in the United States. But back then Google wasn’t involved…
Checking out their website today…and scrolling down to partners…we can see
that Google is in on this, decentralizing energy trading…among other big names like
the California Energy Commission the primary energy policy and planning agency for the state,
but also one of the states most recognizable colleges, UCLA!
Google and Energy Web connect on many fronts besides this…Google has invested in Energy Web,
they have multiple projects happening together all around the world. Energy
Web is the only crypto who can claim a real partnership with a trillion dollar company!!
Speaking of trillions, Energy Web may be partnered with the
company who rules the United States financial markets who has had as much
as 10 trillion dollars in assets under their management! That firm is Blackrock…
A couple months ago….Blackrock announced they were getting in on the Bitcoin game, by launching a
private trust…and they specifically shoutout Energy Web saying “BlackRock is encouraged
that organizations such as RMI and Energy Web are developing programs to bring greater transparency
to sustainable energy usage in bitcoin mining, and will follow progress around those initiatives.”
Now the CEO of Blackrock, Larry Fink gave a public interview just
a couple weeks ago & was asked about crypto…let’s hear what he had to say….
He knows this tech is going to be VERY important….i wonder
where he thinks most of the money will flow?
Larry believes in crypto and decentralized options, he believes decarbonization is where they
money will be…and his company has specifically mentioned Energy Web, saying they will “follow”
their progress and initiatives? I don’t know about you, but those dots are easy for me to connect.
Now there are many other tokens who are on my list, to rage next bull run. This includes
Chainlink, Rocketpool, Polkadot, gains network, Ocena protocol, Illuvium and a few others…
But to finish this episode, I want to cover something new & something
that could be airdropping their token. That is NFT
Perp which allows a person to go long or short on the floor price of NFTs!!
This is BIG…leverage trading for NFTs!! This is a brand new idea & when the
bull market resumes along with NFTs, NFT Perp will see a ton of volume!!
So airdrop? Well A DeFi Riddler on twitter tweeted this about NFT Perp just a few weeks
ago. “NFT Perp is a perpetual futures DEX for NFTs.To engage their community,
they launched a trading competition leveraging Tide.Tide enabled to:
-Gamify the TC with dynamic NFTs changing based on a leaderboard
-Mitigate bots, so only real users get the airdrop allocation.
So how do you get yourself in a position to get some tokens? Well they have a paper
trading competition going on…you trade fake money & participants are going to be airdropped tokens.
As we can from the leaderboard it says “Trade with mock WETH & win prizes up to 500,000 NFTP tokens”
Finally speaking of NFTs, the Chico Crypto ecosystem has launched our first one,
a music NFT on public pressure…and one of the perks? You get some alpha videos from this
Channel early! Link to purchase on public pressure is down below! Cheers I’ll see you next time!