What is Crypto in store for 2023

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2022 has been a tumultuous year for cryptocurrencies. Uproar amidst the increasing Flashbots dominance in relaying Ethereum blocks. NFTs/Gaming vertical attracted the most funding this year. Emergence of application-focused chains. Number of employment in the digital asset industry has jumped over 351% since 2019. Arbitrum, Optimism, and dYdX largely dominate the overall landscape for Ethereum-based scaling solutions.

Developments of various solutions to improve blockchains’ throughput. There were many scaling solutions that have seen significant development, from data availability solutions like Celestia, to zkEVM efforts like zkSync, Scroll, and Polygon Hermez. Although the public interest with “Web3” had been decreasing in 2022, it remained more popular than a year ago. Monthly NFT trading volume on Ethereum hit a new all-time high in January of $5.6 billion, breaking its previous record in 2021.

Solana contended Ethereum as a new home to NFTs. Development of on-chain gaming. As a result of the infrastructure growth like Layer-2s, several new gaming primitives launched in 2022. We identified 40 on-chain games, primarily on StarkNet. This marks a staggering increase from the initial ~5 identified at the start of the year.

Download Digital Asset 2023 Outlook.

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