10 New Cryptocurrencies to Invest in for May 2023

While many new cryptos are launched every day, very few projects become successful. Hence, finding the best new cryptocurrency to invest in is no easy feat.

To help investors make an informed decision, this guide discusses the 12 best new cryptos for 2023. Our list of new cryptocurrencies covers a variety of niches, including artificial intelligence, sustainability, meme coins, web3, and more.

Reviewing the Top New Crypto Coins to Invest in

Investors are drawn to new cryptocurrencies because of their high growth potential. But with dozens of new cryptos launching monthly, thorough research and risk assessment are necessary before investing.

To get started, read our in-depth reviews of the best new crypto to invest in right now.

1. AiDoge – Overall Best New Cryptocurrency to Invest in Now 

AiDoge is a new crypto project aiming to leverage the popularity of memes. It allows users to generate unique memes with its AI-driven tool. Users don’t need any technical knowledge or design experience with AiDoge. Instead, it’s possible to create memes using simple written prompts.

Moreover, users can also modify their memes. This makes AiDoge one of the most efficient and user-friendly meme-generation tools. On top of this, memes can also be minted as NFTs, allowing users to trade them on marketplaces. Furthermore, minting memes as NFTs removes the risk of ownership disputes.

AiDoge also integrates social features into its ecosystem. It has a public wall that displays the most popular memes. Users can share, upvote and downvote memes here. Moreover, AiDoge also rewards top meme creators. In fact, users are incentivized not only to create memes but also to vote.

AiDoge’s AI token is the main reward currency of this ecosystem. AiDoge also has other utilities. For instance, users must buy credits with AI tokens to create memes. Additionally, AI holders can also stake their tokens to gain daily rewards. AiDoge also audits staking contracts, ensuring the security of AI tokens held by the platform.

Regarding tokenomics, AI has a total supply of 1 trillion. Of this, 50% or 500 billion is reserved for the ongoing presale. The presale started in late April, with AI tokens priced at $0.00002600.

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Now, AI tokens are available for $0.00003, and the price will rise to $0.0000336 at the time of the IEO. The presale has a hard cap of $14.9 million and has already raised over $7 million. With its hugely successful presale, AiDoge has positioned itself as one of the best new cryptocurrency releases for 2023.

AiDoge is also giving away 50 billion AI tokens to early investors via an airdrop. To participate in the airdrop, investors must share their referral codes with others. The reward offered will be based on the investor’s total referral amount. Investors can join the AiDoge Telegram group for the latest updates. Read our guide on how to buy AiDoge via the ongoing presale.

2. Sponge – Trending New Meme Coin With an Upcoming Airdrop

Meme coins are resurging in the crypto market. With a well-timed release and a cool concept, SPONGE tokens can potentially benefit from this trend. Sponge is one of the newest cryptos to watch in the meme space. It pays homage to the legendary Spongebob character, and not so surprisingly, it has gained significant support.

After launching on May 4th, 2023, the price of SPONGE tokens increased by 3,000% in just two days. Currently, SPONGE tokens are trading at around $0.0005727, 700% above their launch price. According to analysts’ price prediction, SPONGE tokens could hit $0.001 if the bullish trend is to continue. However, remember that predictions are subjective.

Like other trending projects, such as Pepe, Sponge relies solely on its meme concept. Put otherwise, the token doesn’t have any utility. Instead, most investors choose to buy Spongebob coin for speculative reasons. The project has already reached the final stage of its roadmap and is now listed on several exchanges.

This includes Uniswap, Gate.io, MEXC, LBANK, Bitget, and CoinW. Additionally, Sponge is also offering free SPONGE tokens via an airdrop campaign. Presale investors can sign up for the airdrop via the Sponge Discord channel. Investors will also need to trade SPONGE tokens via Uniswap to qualify for the airdrop.

The number of tokens airdropped will depend on the SPONGE holdings and the amount traded. Sponge has already caused a stir in the crypto space. In just over a week, the project has garnered nearly 40,000 Twitter followers. Its Telegram and Discord channels are also active, with constant engagement from investors worldwide.

In other words, SPONGE tokens are backed by a growing community. This can help drive demand for SPONGE tokens in the coming weeks and months.

3. yPredict – AI-Powered Crypto Analytics Platform With Prediction Models 

yPredict leverages AI and machine learning to provide crypto investors with advanced data insights. The yPredict ecosystem consists of multiple features, such as a prediction market, analytics, learning resources, and more. It offers a subscription-based service using its native token YPRED.

One of the biggest attractions of yPredict is its prediction models. These are created by the top 1% of AI developers and quants. yPredict offers predictive models for thousands of cryptocurrencies to investors for free. As per the whitepaper, this platform will illustrate the credibility of its AI-based analytical models.

Additionally, yPredict also has a prediction marketplace. Here, AI developers can sell their predictive models to users for monthly payments. These predictive models will not only target the crypto market but also other sectors. This includes healthcare, education, and more. For instance, a user can purchase a customized diet plan from an AI developer.

Crucially, yPredict is making AI more accessible to everyone. Additionally, yPredict has an advanced analytics platform with technical indicators and chart patterns. Not only that, but yPredict also integrates play-to-earn and learn-to-earn tools.

YPRED tokens also offer additional earning opportunities. First, token holders receive 10% of the subscription fees generated from premium prediction models. Moreover, investors can learn about cryptocurrencies and earn YPRED tokens as a reward for completing courses. yPredict also plans to hold trading competitions, offering YPRED tokens as prizes.

yPredict is currently running its presale campaign. The presale has reached stage five, and investors can buy yPredict tokens at just $0.07. The listing price is set at $0.012. This represents an immediate upside of 70%. yPredict has raised over $970,000 since the presale went live.

4. Ecoterra – Green Crypto Project Revolutionizing the Global Recycling Industry  

Ecoterra is one of the best new coins for ethical investors. This project is combating climate change by rewarding those who recycle. Ecoterra has created a native app and has partnered with a network of recycling centers to accomplish its goal. The platform also has a new cryptocurrency, ECOTERRA, to reward its users.

Ecoterra’s novel recycle-to-earn strategy is straightforward. Users can start by scanning the recyclable item’s barcode through the Ecoterra app. The app will instantly display reverse vending machines that accept the item. After recycling the item, users must upload a photo of the receipt via the app.

The app will then reward the user with ECOTERRA tokens, proportional to the recycled items. Currently, users can recycle plastics, aluminum, glass, and clothes. What’s more, Ecoterra also has a recycled materials marketplace. This allows companies to buy recycled raw materials at industry-leading rates.

Furthermore, the Ecoterra ecosystem includes a carbon offset marketplace, allowing users to buy verified carbon credits. The platform will also feature an impact trackable profile. This enables users to monitor and share their positive actions. Ecoterra will also offer NFT rewards based on users’ contributions – which can be traded.

Ecoterra’s ongoing presale is already a huge hit. The project has raised over $3.5 million in six weeks. ECOTERRA tokens are still available to buy at a discounted rate of $0.00775. The price will increase through the presale stages. After the presale, ECOTERRA will be listed on an exchange at $0.01. That’s 29% above the current presale price.

Overall, Ecoterra has created a revolutionary way to promote sustainability. Its recycle-to-earn mechanism may encourage more individuals to recycle. And thus, for eco-conscious individuals, Ecoterra is the best new cryptocurrency to invest in right now,

5. DeeLance – Blockchain Ecosystem Connecting Freelancers and Recruiters

DeeLance is another presale project that made it into our new crypto listings. Put simply, DeeLance is a recruitment platform that connects freelancers and clients. However, it uses blockchain technology and smart contracts for transactions. This solves many issues currently plaguing the gig economy.

For instance, DeeLance allows freelancers to tokenize their works as NFTs. This gives freelancers complete control over how their work is used. Freelancers can also sell their works directly via the in-built NFT marketplace. With DeeLance’s secure escrow payments, freelancers are paid instantly.

Interestingly, DeeLance also has a metaverse where clients and freelancers can interact. Here, users can lease office spaces, advertise, or hold events. By supporting crypto payments, DeeLance also promises swift transactions without the need for FX exchanges. Crucially, this also enables DeeLance to offer its services at low fees.

For instance, clients are charged a flat 2%, and 10% for freelancers These fees are very competitive when compared to Upwork and Fiverr, the two primary leaders in the freelancer space. All payments are processed in DLANCE, the platform’s native token. DLANCE tokens have a total supply of one billion. 30% or 300 million are being sold via the ongoing presale

The current price of DLANCE is just $0.033. The price will increase to $0.057 by the time of the exchange listing. The project has raised nearly $840,000 so far. DeeLance is also holding a giveaway, where $100,000 worth of DLANCE tokens will be airdropped. Presale investors can enter by completing tasks, such as following the project on social media.

6. Launchpad – Beginner-Friendly Platform Integrating Multiple Web3 Elements

Launchpad is building a one-stop shop for web3. This platform features many investment products from the web3 niche. This includes NFTs, digital tokens, wallets, crypto games, and presales. Put otherwise, Launchpad will make web3 more accessible to the average person.

To accomplish its mission, Launchpad has a multitude of features. For starters, it allows users to identify investment opportunities among NFTs and utility tokens. Then, there is a decentralized exchange for trading NFTs and digital assets. Additionally, users can also mint fractionalized tokens representing real-life assets such as cars and properties.

What’s more, Launchpad offers early bird access to new blockchain games and presale tokens. It will also hold trading competitions and offer crypto loans further down the line. The platform also has its own utility token, LPX. Users need to stake LPX for a minimum of 90 days to access exclusive features.

This includes accessing new ICOs and NFT mints. LPX staking also offers passive returns. Moreover, LPX tokens can be used to pay for mining fractional assets. Launchpad also incentivizes LPX holders with discounted trading fees. Currently, Launchpad is offering LPX tokens via its recently launched presale. Interested investors can buy Launchpad tokens at just $0.035.

The Launchpad presale has already generated over $370,000. At the time of the IEO, LPX tokens will be listed at $0.0565, a 61% increase from the current price. Launchpad will soon launch its web3 wallet and data feed. The platform will integrate all roadmap features by the end of 2024.

7. Love Hate Inu – New Crypto Project Introducing a Vote-to-Earn System 

Love Hate Inu is a new crypto project that recently completed its presale stage. In simple terms, this is a vote-to-earn platform. It allows users to create and participate in online surveys and get rewarded for their contributions. The platform hands out rewards in its native token, LHINU.

By using blockchain technology, Love Hate Inu promises secure and anonymous voting. Its user-friendly interface allows users to vote and create polls effortlessly. It also features a management dashboard through which users can track their earnings.

To get started, users need to stake LHINU tokens. This further allows users to earn passive income from their LHINU holdings. The higher the amount staked, the greater the voting power. Moreover, its staking requirement ensures that only those invested in the project can vote.

This prevents spam bots from manipulating the poll results. With this unique feature, Love Hate Inu also aims to cater to businesses and organizations for their online survey needs. Moreover, Love Hate Inu has a social feature promoting discussions. In other words, the platform offers a complete ecosystem for online surveys.

Considering its real-world use cases, Love Hate Inu is one of the best new crypto coins available today. Love Hate Inu raised over $10.2 million via a hugely successful presale and is now preparing for exchange listings. The platform sold 90% of the total 100 billion LHINU tokens.

8. Arbitrum – Layer-2 Network Making Ethereum Transactions More Efficient

Arbitrum is another new cryptocurrency sparking interest among investors. This layer-2 network sits on top of the main Ethereum blockchain. It rolls thousands of transactions into a single batch to reduce congestion for ERC-20 tokens. Put simply, Arbitrum can handle up to 40,000 transactions per second.

Regarding prospects, Arbitrum is taking a bet on Ethereum’s future. After all, Ethereum might not need a scaling solution once it fully completes its ‘Merge’ upgrade. However, until that point, Arbitrum can play a significant role. This is because Ethereum can only handle 30 transactions per second.

Not so surprisingly, Arbitrum is used widely by dApps, blockchain games, DeFi platforms, and more. In other words, ecosystems that require a large number of transactions.

ARB tokens are used for the governance of Arbitrum. Meaning, token holders can participate in decisions of the DAO, which will be automatically executed once passed. Additionally, ARB tokens can be traded on crypto exchanges. Overall, we found that Arbitrum is one of the newest crypto to watch right now.

Cryptoassets are a highly volatile unregulated investment product.

9. ApeCoin – Crypto Coin Associated With Bored Ape Yacht Club NFTs

ApeCoin isn’t the newest crypto coin on our list. Nonetheless, ApeCoin was launched in 2022 and remains one of the most popular cryptocurrencies. ApeCoin instantly caught the attention of the crypto community due to its link to the Bored Ape Yacht Club NFT collection.

Created by Yuga Labs, the project has since developed the Ape Foundation to fund blockchain and web3 projects. And ApeCoin is the utility and governance token of this ecosystem. As such, every time a Yoga Labs project gains momentum, the price of ApeCoin could also increase.

Moreover, ApeCoin’s utility is not limited to the projects of Yuga Labs. Some of the best play-to-earn games, such as Benji Bananas, offer rewards in ApeCoin. With growing adoption, ApeCoin could perform well as a long-term investment. Investors can buy ApeCoin via many popular crypto exchanges, including eToro.

Cryptoassets are a highly volatile unregulated investment product.

10. Immutable X – World’s First Scaling Solution for Ethereum NFTs

Although there are many Layer-2 scaling solutions for Ethereum; Immutable X is the first one specializing in NFTs. It allows fast and secure trading of NFTs and other web3 assets on Ethereum. The platform uses zk-rollups to bundle transactions and submit them to the Ethereum network in a compressed format.

This reduces gas fees and increases transaction throughput. Moreover, Immutable X can achieve this without compromising on security. This solution can be deployed in crypto games, NFT trading, and more.

In fact, some of the best NFT games, such as Illuvium, Guild of Guardians, and Gods Unchained, run on Immutable X. IMX is the native ERC20 utility token of the Immutable X protocol.  IMX tokens can be used to pay fees, acquire governance, or for staking.

Cryptoassets are a highly volatile unregulated investment product.

11. Sui – New Layer-1 Blockchain Network With Impressive Features

Sui is one of the newest layer-1 blockchain networks to hit the market. It primarily supports NFTs and other web3 products. It provides services for smart contracts, developing dApps, settling transactions, and issuing tokens. While these features are also offered by other networks, Sui stands out in various ways.

One of these features is the Sui Move programming language. This is a variation of the ‘Move Language’ created by Facebook for the Diem blockchain. The language is built around programmable objects, making it easier for developers to build NFTs and gaming assets.

Additionally, the Sui consensus engine scales horizontally to handle transactions. This enables the blockchain to support millions of transactions per second. The Sui blockchain’s native token, SUI, is used to run the network. SUI tokens can also be used to pay for transactions and operational fees.

12. Pepe – Trending Meme Coin Based on ‘Pepe the Frog’

This list of the best new crypto for 2023 wouldn’t be complete without Pepe. After all, this meme coin has taken the crypto world by storm. After launching in April 2023, Pepe has emerged as one of the top 50 traded cryptocurrencies of the year. Moreover, the coin surpassed a market cap of $1 billion within three weeks of its launch.

To put this into perspective, it took Dogecoin four years to reach the same market cap. The coin operates on the Ethereum blockchain and has a maximum supply of 420 trillion tokens. The coin utilizes a deflationary mechanism. It burns a percentage of Pepe tokens with every transaction.

This could drive scarcity and potentially raise the value of the remaining tokens over time. But investors should note that Pepe has no utility. According to its website, Pepe Coin is only for entertainment purposes. Nevertheless, the coin continues to gain community support from crypto enthusiasts worldwide.

How to Pick Which New Crypto to Buy 

Today, there are virtually thousands of coins to choose from, each with different dynamics. As such, finding the best new crypto to buy can be daunting.

Below, we discuss some important points to consider when searching for the newest crypto coins to buy.

Conduct Through Research 

The first step to finding a new cryptocurrency is to research and analyze it. Investors need to understand the purpose of the coin, its target market, and growth potential.

They should also assess if the project has any competitive advantage over other coins.

Investors can do this by visiting the project’s website and social media platforms to get an idea of its vision. Additionally, browse online forums to get feedback from other investors who have already bought the coin.

Examine the Whitepaper

A whitepaper is a detailed document that outlines a cryptocurrency’s technology, use case, and growth potential. A well-written whitepaper provides clear and concise information about the coin’s purpose, benefits, and target market.

The whitepaper should also give investors an in-depth understanding of the coin’s potential. Crucially, the whitepaper should help investors make an informed decision.

Consider the Use Case

In this fiercely competitive crypto market, the utility of a coin can set it apart. For instance, one of our top picks, AiDoge, has a clear utility – it allows users to create memes instantly.

AiDoge improves the existing meme-creation process and can thus gain mass adoption. This is because users simply need to enter some text about the meme they want to create. The AI-backed tool will then create a unique meme instantly. Most importantly, users need AI tokens to buy credits, which are needed to create memes.

Other projects we discussed today, such as Ecoterra, yPredict, and Launchpad also have specific use cases. This aspect provides long-term viability for new cryptocurrencies.

Audit Status 

If a crypto project is audited, it means that an independent third party has reviewed it.

The auditing team will analyze the project’s code, smart contracts, security measures, and other relevant factors to ensure that they are accurate, secure, and functioning properly.

Moreover, audit reports are typically made available to the public. This can then be used as a reference when looking for a new cryptocurrency to invest in.

Additionally, some platforms also publish KYC reports of the team, which ensures further transparency.

Why New Cryptocurrencies Can be a Good Investment

In under 15 years, cryptocurrencies have gone from nonexistence to a crucial component of the retail trading markets. Today, cryptocurrencies have a total market cap of over $1 trillion. And there are thousands of cryptocurrencies out there. As such, investors are flooded with options.

On one side, established cryptocurrencies such as Bitcoin and Ethereum cost thousands of dollars per token. On the other end, many new cryptos cost only a fraction of a cent. As such, some investors consider new crypto projects rather than buying Bitcoin and other large-cap tokens.

New cryptocurrencies can be a good investment because of the underlying concept. For instance, they often offer innovative technology, unique features, and growth potential. Moreover, early investors of new cryptocurrencies can potentially benefit from getting in at a low price point and profiting as the project gains traction and adoption.

However, it’s important to note that investing in new cryptocurrencies can also be risky. In the next section, we will discuss what to consider before investing in new cryptocurrencies

Things to Bear in Mind When Trading New Cryptos

Ready to buy new crypto today? Before taking the plunge, there are various risks that investors need to be aware of.

Price Volatility

Price volatility is a common characteristic of many cryptocurrencies, especially new ones.

Put simply, the price of a cryptocurrency can rapidly increase or decrease in value over short periods, often without any clear explanation or reason.

This unpredictability can lead to significant losses for investors unprepared for sudden price drops. Therefore, investors should never risk more than they can afford to lose.

Lack of Liquidity

New cryptocurrencies often have low trading volumes. This is mainly because these cryptos might not be known to all traders, resulting in a relatively small number of buyers and sellers in the market.

Additionally, new cryptocurrencies may not yet be listed on major exchanges. This can limit their exposure to potential investors and reduce trading volume.

This can also make it more difficult for investors to buy and sell their holdings at a fair price. Furthermore, low liquidity can lead to price slippage and other trading inefficiencies.

Development Risks

New cryptocurrency projects also face development risks. This includes technical challenges or other obstacles that could delay their launch or affect their long-term success.

These risks can result in slower development, delayed updates, legal challenges, and difficulties in compliance. Needless to say, it can hinder the cryptocurrency’s ability to compete in the market and potentially lead to a loss of value.

Portfolio Diversification 

Diversification plays a crucial role in managing risks while investing in a new cryptocurrency today.

By buying multiple new cryptocurrencies, investors can spread their risk across many different projects. This can reduce the impact of any individual project’s failure and help to minimize losses.

And, importantly, stay informed with the news in the cryptocurrency market. This will help investors to adjust their trading strategy as the market changes.

How to Find New Cryptocurrency Releases 

Here are some ways to find new cryptocurrency to invest in.

Cryptocurrency News Websites

One of the best ways to keep up with a new cryptocurrency release is by following news websites. These websites provide in-depth coverage of the latest happenings in the cryptocurrency world.

This way, investors can find details about new project launches, token releases, and important market updates.

Social Media 

Social networks play a significant role in the crypto world. Twitter, in particular, is hugely popular among cryptocurrency investors and traders. YouTube and Reddit are other prominent platforms frequently visited by investors for news.

Investors can follow influencers on these platforms, such as founders of new projects, and industry experts. Additionally, cryptocurrency groups on platforms like Telegram and Discord provide early access to information about new projects and tokens.

Crypto Market Data Websites

Crypto market data aggregators, such as CoinMarketCap and CoinGecko, are great resources for tracking the performance of new cryptocurrency releases.

These websites provide real-time data, including price movements, market capitalization, and trading volume.

By analyzing this data, investors can identify new projects gaining traction in the market. It can help investors make informed decisions about their portfolio allocation.

Cryptocurrency Exchanges 

Typically, to get listed on a reputable exchange, crypto projects need to establish their credibility and even provide audit reports. As such, exchanges are another excellent resource for finding new cryptocurrency releases.

Many exchanges provide a list of newly added tokens on their platforms and upcoming token launches. By keeping an eye on these listings, investors can identify new projects with potential investment opportunities.

Conclusion

In a nutshell, investing in new cryptocurrencies can lead to significant returns. However, as with any investment, it’s essential to do due diligence and investigate the project before risking money.

AiDoge is our top pick among the new cryptocurrency releases for 2023.

This AI-based project allows users to create memes with simple text prompts. AiDoge is currently in its presale phase. Investors can buy AI tokens right now at just $$0.00003. The price will increase as the presale progresses until it reaches $0.0000336.

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