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With the collapse of Terra and FTX, the ongoing Russian-Ukrainian war, rising inflation and interest rates, everything is compounded by a bitter crypto winter, things do not look promising for the industry. digital assets as we approach 2023. However, it is not. all. doom, gloom and despair for the cryptosphere. Many bright spots also appeared as this terrible year drew to a close. Join us as we highlight some of these encouraging developments and why they could mean better days for crypto markets in the new year.
A recent study by Glassnode, a blockchain research company, showed that BTC HODLers (long-term investors) and their income will increase in 2022. According to the study say, the number of such "cash addresses" approaches the million mark (793,591). , a remarkable feat that has never been seen before. Also, the balance of all these records is 3,099,828 BTC, an increase of 18% since the same time last year.
Also, the number of BTC exchanges has decreased, indicating that the FUD implosion of FTX may be coming to an end. For example, the Bitcoin exchange rate appears when FTX falls, reaching 142,788 BTC on November 14. This number fell by 93%, reaching 9,300 BTC on December 25, the lowest in 7 months. Together, these are good indicators for Bitcoin; they reflect the strong confidence of investors entering 2023. And in general, what is good for Bitcoin is also good for other crypto markets.
The growing number of crypto services
Yes, 2022 has seen huge rewards in the crypto industry. Popular crypto exchanges such as Coinbase, Kraken, Huobi and many others have laid off thousands of employees to combat the unpredictable market conditions. In total, more than 26,000 crypto-related jobs have been lost in 2022. However, this is still insignificant when compared to the number of jobs filled in the same industry in 2022.
According to data from Block Research, the number of crypto projects filled with 82,200 tokens this year; 351% increase from 18,200 jobs of 2019. Currently there are many jobs in Web3, spanning different sectors, from software, design, data analysis, infotech, through metaverse, market research, marketing and many more other important areas. connected to Web3 and the crypto community.
In all sectors, trade and commerce account for more than 50% of work. It is also worth pointing out that, despite the big losses this year, the NFT (non-fungible token) market itself reached almost 6,738 jobs. Crypto exchanges still represent the largest number of positions with Binance leading the pack.
Investing in crypto is still high
With the collapse of Terra and the implosion of FTX, you would think that VCs would want nothing to do with the crypto industry. After all, prices are falling, hacking, and market conditions continue to be negative. However, despite a seemingly negative opinion, the crypto sector has managed to get the most money in developing and emerging technologies, even more than FinTech and BioTech.
According to data from CoinTelegraph, crypto-VC funding will reach $36.1 billion in 2022. That is almost 20% more than in 2021, despite all the dramatic events we have seen this year. In the last 10 days alone, crypto projects on web3 such as Earn Alliance, Ramp Network, Roboto Games, Burn Ghost, and Keyrock have received more than $175 million in funding. In other news, Animoca Games, one of the biggest crypto VCs, announced a $2 billion metaverse development fund on December 2.
All these are good signs for the crypto market. They show that there is still a positive feeling around the digital assets industry as we enter the new year. However, will these positive effects outweigh all the doom, FUD and gloom of 2022?
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