Crypto.com Bullish On DeFi For 2023 Amid Institutional Interest

Crypto.com researchers are bullish on crypto projects in 2023, despite an unprecedented bear market. Fundamental analysis shows an imminent rise to highs never recorded in the history of cryptocurrencies and blockchain-powered technologies.

going on despite upheaval In the blockchain-powered markets, Crypto.com has made an exciting discovery that brings a wave of hope to crypto-savvy investors. The report reads:

“By November 2022, the number of crypto owners is set to reach 402 million, surpassing the 400 million milestone.”

Crypto.com: 2022 Year in Review and 2023 the Year Ahead

according to statistics published by exchangeThe estimated number of crypto owners will increase to 800 million in 2023, indicating bullish momentum.

Crypto.com Bullish On DeFi For 2023 Institutional Interest - 1

Crypto.com hopes so too”Here are some AAA games to look out for in the next year or two, which will offer players new gaming experiences that integrate high-performance gameplay with blockchain technology.,

The year 2022 also saw the initial use of the high-utility Soulbound Token (SBT), which is expected to peak in 2023. Japanese government led these NFTs by issuing SBTs on Ethereum Network for seven mayors. They served as rewards for the initiatives of the mayors towards improving the lives of the citizens by using contemporary technology.

How The Crypto Hacks Of 2022 Could Make Crypto Safer

According to Crypto.com, blockchain-powered technologies are becoming more secure by the day due to massive bankruptcies and hot wallet hacks in 2022. For example, the Proof-of-Reserve (PoR) model mandates exchanges to publish their digital assets. Stores held by customers. although with many controversiesThe PoR mechanism marks a step forward for centralized exchanges (CEXes) to regain the trust of users, which has been widely affected by illegal practices of SBFs with customer funds.

,The key to building a successful business model is establishing trust with end users.,” Crypto.com wrote, citing crypto industry reforms set to secure investors from huge financial losses.

Crypto.com 2022 Review

This year has left an indelible mark on the minds of enterprising individuals, hedge funds, asset managers and general finance enthusiasts. In view of the financial meltdown predicted by analysts and experts robert kiyosakiThe Federal Reserve has consistently fought inflation using one of its most effective financial weapons, interest rates. In March, the Fed increased interest rates According to CNBC, at the highest level ever in the last 15 years.

The war in Europe has also hurt the financial sector, including cryptocurrencies. Graphical data from Crypto.com shows that this year’s GDP figures have declined from the highs recorded in 2021. inflation Rising to a high of 8.8% as macroeconomic factors raise the cost of goods and services.

Crypto.com Bullish On DeFi For 2023 Institutional Interest - 2

In addition to increased inflation and interest growth, the crypto community received countless additional events. First came the collapse of the Terra-Luna ecosystem in May, wiping out $45 billion in a matter of days as the founder, Do Kwon, disappeared. Exactly one month later, two events happened. Celsius, a comprehensive crypto lending and borrowing platform, announced going under receivership to protect against creditors.

Similarly, Three Arrows Capital (3AC) filed for bankruptcy, and founders Kyle Davis and Su Zhu again went missing. In July Voyager Digital plunged into bankruptcy due to heavy exposure on the already-collapsed TAC, FTX won its liquidation by offering the highest bid.

October was nicknamed hackoctober by netizens on experiencing a record-breaking number of cyber attacks. In mid-October alone, Chainalysis recorded the theft of $718 million in security breaches as hackers compromised DeFi protocols. Or the recent collapse of FTX which wiped out $32 billion and ended up in the history books as the most famous crypto scam of all time.


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