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If in 2022 the movement of crypto made many investors hold their breath, as almost all crypto assets plunged, what will happen in 2023? For novice investors, there will be 5 crypto trends that occur in 2023.
Last year was an extraordinary year for the crypto industry. There was a lot of information related to crypto, blockchain and NFT that spread across various media that provided crypto news every day.
There were some good news and some bad news. But now the year has changed, and new hopes are emerging, what about the crypto trend in 2023? Will there be more good things to happen or the opposite.
For those who want to learn about crypto and learn more about crypto trends in 2023, check out the complete discussion below.
1. Many Countries Create Crypto Regulations
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According to Finextra, in the crypto system of 2023, all crypto regulators around the world must work together to provide a clear and effective global regulatory framework and oversight for the crypto market.
Without global coordination, even strong national laws will not be able to stop passive arbitrage and the damage it causes. International organizations such as BIS, IMF, G7, G20, BIS, World Bank, and others have sent information that international coordination and cooperation is greatly needed.
Meanwhile, according to Cryptonews, the enforcement of crypto regulations is a direct response to the FTX incident in 2022. As a result, 2023 may see increased oversight of digital assets and stronger regulation and enforcement of crypto markets around the world.
With the emergence of many regulations in various countries, this will indirectly provide security from a country, so that investors who invest their money in cryptocurrency will feel comfortable and safe.
Legality issued by the government through regulations certainly makes the growth of cryptocurrency will continue to develop and be popular among the public.
2. The growth of stable coin investments
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As reported by Crytonews, investing in new cryptocurrency can be difficult recently as the crypto system in 2023 is predicted to be chaotic, which means there is a possibility of a dramatic increase. Therefore, many investors will choose stablecoin over other cryptocurrencies as an investment asset in 2023.
Why stablecoin? This is expected because many investors are looking for a safe haven or a cryptocurrency that prevents crypto market volatility. It cannot be denied that global economic turmoil in 2023 is greatly affecting crypto news every day.
Stablecoins are considered safer than other cryptocurrencies because they are pegged to assets such as the US dollar or commodities like gold. Additionally, stablecoins also store assets such as contracts and management within their algorithm.
3. Rapid development of DeFi and NFT
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According to Finextra, the crypto trend in 2023 predicts that crypto markets such as Decentralized Finance (DeFi) and Non-Fungible Tokens (NFT) may arise as new regulations are implemented. The DeFi and NFT markets are expected to continue growing with the help of new developments, including addressing major security concerns.
We will see a lot of technological innovations in the DeFi market, leading to more complex and interesting applications. These new technologies may include the creation of new digital assets and online payment systems, including utility tokens, digital stocks, natural resource tokens, stablecoins, and more.
The development of new infrastructure will continue, as well as the constant evolution of organized platforms that combine traditional (TradFi) and DeFi. Meanwhile, NFTs have become popular since 2021. In recent years, there has been a lot of talk about crypto gambling and collecting and the emergence of NFTs.
With these new assets, there is a change in the way investors or collectors use assets. Another crypto trend is the NFT market, which used to be on the Ethereum network, will become more prominent on different networks.
There will be more blockchain platforms that allow collectors to trade their crypto on the NFT market. With the rapid growth of NFTs and DeFi, society will also have many options when it comes to investing money.
4. Growth in crypto adoption
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What are the crypto predictions for 2023? According to Coingape, only about 4% of the world's population uses crypto products or services in one way or another. It is predicted that 2023 will be the year when ordinary people, celebrities, and companies will start using and accepting crypto for different purposes.
Whether it's for business to make money or to promote products. This means that more and more people will try or trade in cryptocurrency. There will be a lot of asset price movements in crypto, thus providing an opportunity for someone to make a profit or otherwise.
In 2023, the crypto system may see new movements with the introduction of Web 3.0 technologies, including blockchain, as more people will begin to understand that these technologies offer many benefits over traditional systems, such as increased security and transparency, low cost, speed and ample storage space.
5. Blockchain technology is becoming increasingly developed and popular
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Nowadays, more and more people are becoming familiar with cryptocurrency and the terms used in the crypto world. This means that the widespread information about crypto assets has led many people to try their luck in investing, which has a higher risk of loss.
According to Finextra, blockchain technology will show many interesting things that will determine the future development of the crypto and blockchain industry and how this technology will evolve in the coming years.
Over the past few years, interest in blockchain technology has grown rapidly, with the growth of technology driven by various parties, driven by the various benefits it can provide.
As a result, it is expected that the blockchain market will grow even more in 2023 and beyond. Adoption of blockchain-based systems is becoming the new norm in various industries. Non-financial companies are now also looking for blockchain solutions.
Blockchain is increasingly seen as ideal for industries such as finance, international trade, insurance, law, logistics, supply chain management, healthcare, media, and e-commerce, where payments need to be efficient, secure, and good.
By using blockchain technology, users in any business sector will feel secure and comfortable. In addition, cross-border payment systems can be done efficiently and quickly, unlike in banking today.
Conclusion
If we talk about the future of crypto and blockchain in 2023, there will be many opportunities because of all the great things in 2022. Examples include the development of crypto laws in various countries, growth of deposit money, increasing popularity of DeFi and NFTs, proliferation of crypto by celebrity companies, and growth and learning of blockchain technology.
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