My Top Web3 Stock to Buy and Hold in 2023
After a terrible year in 2022, one that saw the overall cryptocurrency market go from over $2.2 trillion in value to roughly $800 billion, investors are probably avoiding the entire asset class like the plague. The so-called "crypto winter" is fully here, so the thought process of waiting for prices to rise again before buying is justified.
But there is one potentially lucrative investment opportunity for readers who still believe in blockchain technology and cryptocurrencies. I think Coinbase Global (NASDAQ: COIN) is one of them. It's my top Web3 stock to buy and hold in 2023.
There's no doubt the public's trust of the crypto industry is at an all-time low right now. Last year, we saw prominent firms, like Celsius, FTX, and BlockFi, which were all seemingly thriving not too long ago, all run into liquidity issues and eventually file for bankruptcy. The worst result of these failures was the fact that customer funds were lost. These adverse events shined a light on just how complex, opaque, and risky major players in the industry can be.
Source Fool.com