The crypto market has certainly had its fair share of excitement over the years. Experts announced 10 future trends and predictions for 2023.
New trends, new insights for crypto in the new year
cryptocoin.com We have compiled the experts’ predictions for the crypto market for 2023. Here are the 10 predictions:
- The macro economy will stabilize and the Central Bank will slow the rate hikes. Crypto will also be more stable.
- The cryptocurrency will continue to be monitored by regulators and will move into a more compliant phase. Crypto companies should continue to have good government relations.
- NFT liquidity tools will stabilize the NFT market and create a better Web3 infrastructure for users and investors. Soul Bound Token (SBT) use cases will also increase and become another market driver.
- The use of Decentralized Exchanges (DEXs) will grow exponentially in 2023.
- Decentralized Social (DeSoc) will change the way value streams with the help of AAA-level blockchain games.
- Metaverse will have the DeFi structure and framework, allowing for example to operate on exchanges with fewer restrictions and in the name of innovation.
- The investment and hype of ZK series public chains could be the new hotspot. In the first half of the year we could see, for example, Starknet, Zk-sync, Scroll, Polygon ZKEVM ZK L2.
- Artificial intelligence (AI) ignited new growth in Web3. The popularity of ChatGPT surprised us in Q4 of 2022 and will continue into 2023. I see these implemented at the application level. We can also see Web3/blockchain solve productivity issues with AI to get a qualitative leap.
- Security issues will draw more attention and large-scale on-chain data monitoring applications will be deployed. On-chain data not only provides support for Web3 security governance, but also provides an in-depth analysis of on-chain activities to reveal key information such as Web3 user behavior, emerging trends and investment opportunities.
- The rise of CeFi + DeFi is reshaping the crypto market. Forward-looking financial institutions will continue to be mindful and committed to combining CeFi with DeFi. They will also combine enterprise-level risk management capabilities with code-enforced transparency to explore more business models that can support the real world. Rapid growth and relatively mature DeFi services will be developed and more likely to be preferred by large institutions.
Events that stood out in the market last year
luna collapse
When the UST collapsed, $84 million lifted a financial empire of $40 billion. The crash began when the UST de-pegged and the extreme panic of the market caused a massive pullback. The collapse of Terra, one of the largest public chains in the world, fell with it and lasted only two days.
“If LUNA fails, that will be the failure of cryptocurrency.” That was the headline we saw in the mainstream media at the time. The Asian Financial Crisis of 1997 and the similar downturn of Lehman Brothers in 2007 are familiar to many financial people.
Ethereum successfully completed the end of mining era Mainnet and Beacon Chain merger
After an eight-year wait, on September 15 at 2:43 pm, when the mainnet and beacon chains were successfully combined, Ethereum signaled the end of Ethereum Proof of Work (PoW) and the full transition to Proof of Stake (PoS). gave.” Merge” is a very important milestone for the Ethereum ecosystem. Ethereum’s vision continues and there are more milestones to be reached as per their plans released on Nov.
Cryptocurrency Donation in Ukraine
At the end of February, the Russia-Ukraine war began. This event was not directly related to cryptocurrency, but brought more uncertainty to the global macro environment. However, things changed after Ukraine introduced cryptocurrency donations and published the donation address. Since the beginning of the Russian occupation, an NGO supporting the Ukrainian government and military has received more than 120,000 crypto donations, totaling $63.8 million.
This also includes a CryptoPunk NFT worth over $200,000 and a $5.8 million gift from Polkadot creator Gavin Wood. Many questioned how this was run, the airdrop plan and the NFT sale. But I witnessed one of the most important cryptocurrency use cases for donations.
NFT font
Yuga Labs had a great year. In March, owners of the Bored Ape Yacht Club (BAYC) received an airdrop of ApeCoins tokens for every NFT they own. The airdrop received by a BAYC was initially worth around $140,000. Some ‘creative’ members took BAYC out of the loan or split pool, received and returned the airdrop, and earned $1.1 million in one day.
A lot of NFT-related events popped up over the summer. This also launched a series of celebrity endorsements for big brands entering the web3 space. These are great summer moments; we all remember them.
