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The top-notch research institute, Huobi Research, has released the annual report, Global Crypto Industry Overview and Trends 2022-2023, on December 8th. Developments and losses in 2022 are thoroughly discussed from 7 aspects: market, data, investment, region, application, technology, and regulation; forecasting and suggestions are also provided for 2023.

Retrospectively, the population of crypto users has been increasing all over the world, reaching 320 million in total. Huobi Research established regional crypto market development maturity index by inputs from four dimensions: percentage of crypto users in total population, CEX volume, DeFi traffic and search hotness on the Internet, with the US, Vietnamand Russiaranked the top 3. Regional development and potential changes in the future are thoroughly analyzed: in 2022, 40% of the crypto population are Asian with 46 million in Southeast Asia, second only to North America; the U.S., South Korea and Russia have the largest number of visits to CEXs, with accumulative share of over 22%; the U.S. has the largest share in DeFi, with almost 6 times more traffic on DeFi than the second, Brazil; South America, South Africa and the Middle East are highly interested in the crypto industry, and stablecoins are adopted by more than 1/3 of the nationals in South America and Africa on a daily basis.

Except for regional development, infrastructure, applications, and regulations are also vigorously discussed in the report. The focal point in the infrastructure segment remains on performance optimization, and service facilities are more advanced, including technical and ecological development of Layer 2 on Ethereum, new L1 chains and cross chain bridges. On application layer, TVL of DeFi across chains is cut over 70% from all-time high under the influence of current bear market, and the total market cap of NFT has a plummet of 42% with the number of active traders plunged over 88.9%. However, NFTFi has become a heating topic, which may be the next breaking point for growth. In terms of regulations, over 42 sovereign countries and regions around the world have adopted 105 regulatory measures and guidance for the crypto industry this year, with 36% being positive to the crypto industry, which is a substantial increase compared to that of last year.

In 2022, the crypto industry entered a deep bear market as the Federal Reserve continued to raise interest rates and global liquidity tightened. Although the whole industry has suffered from multiple catastrophic incidents, such as the crash of Terra and the bankruptcy of FTX, it has demonstrated tenacity to weather the crisis. What will be trending in the coming 2023? 8 insightful predictions from Huobi Research may help answer the question: as the market fluctuations continues in 2022, the bottom has already been unveiled, and the market may highly likely see a breaking point in the first quarter of 2023; by segment, top-tier players in social are flocking into Web3, and the value of SocialFi is emerging; technically, Rollup has made such progress with low transaction cost and continuously increasing TPS that it lays the technical foundation for future deployment of applications; in terms of applications, the mlti-chain network landscape is facilitating a boom in Dapp chains so that user habits will be more accustomed and user experience will be vastly elevated; “embedded regulations” is on agenda, signifying more regulations to be in effect on cryptocurrency; last but not least, more developing countries will adopt cryptocurrency as a measure of payment of fiat currency.

Current bear market is still on, and how should users and investors in the crypto market rationally react in the year of 2023? Huobi Research regards the bear market as a place full of both risks and opportunities that investors must have close scrutiny to evaluate projects for potential investment, and be alert to potential hacks and pyramid scheme. Suggestions are proposed in the report to avoid traps in the bear market, and some parameters, as indicators to the bottom of the market, are suggested for investors to discover “cheap price”, including Overnight Reverse Repurchase Agreement (ON RRP), M2 of various central banks, MVRV and CVDD.

The annual report, Global Crypto Industry Overview and Trends2022-2023, provides the most comprehensive and professional insights for practitioners, investors and users in the crypto industry, demonstrating an unbiased landscape of the crypto industry in 2022, and giving the most reasonable suggestions and trends for 2023. Please feel free to download and read in detail.

To download the full report, click here.

https://research.huobi.com/upload/202212/07/202212071226233890.pdf

About Huobi Research Institute

Huobi Blockchain Application Research Institute (referred to as "Huobi Research Institute") was established in April 2016. It is committed to researching and exploring new developments in the global blockchain industry. Its goal is to accelerate the research and development of blockchain technology, promote its applications, and improve the global blockchain industry ecosystem. Huobi Research Institute covers industry trends, emerging technologies, innovative applications, new business models, and more. Huobi Research Institute partners with governments, enterprises, universities and other institutions to build a research platform that covers the entire blockchain industry. Its professionals provide a solid theoretical basis and analyze new trends to promote the development of the industry.

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