In its latest report on the happenings in the crypto market and industry in 2022, Huobi has identified the United States and Vietnam as the most mature markets, with 13.7% and 20.3% of their population using crypto, respectively.
It identifies Singapore as the best location for startups owing to regulation. Speaking on the multiple disasters this year, it ranks FTX’s demise as third, behind the Three Arrows Capital and Terra ecosystem collapses.
Despite the downtrend, Huobi notes significant interest in Web3, with investments set to exceed $27 billion. Projects built on Layer-1, zero-knowledge roll-ups, and middleware received the most funds.
According to Huobi, the current market downtrend caused by the fall of FTX will form a bottom for the crypto industry in March 2023. Huobi also foresees more regulation in the industry next year.
Huobi Research has suggested that the industry embraces regulations to survive in 2023. It adds that DeFi’s success will likely come from protocols securing a stable revenue stream instead of relying on users’ liquidity.
The report from Huobi provides insight into how the crypto industry fared in 2022 and changes that can be made to thrive in 2023.
Find more predictions for 2023 in:
Bitcoin Analysts Predict 2023 Rally Whilst Central Banks Tout Fears of 70% Price Drop
Read about the Huobi merger in:
Huobi and Poloniex mulling merger, Poloniex suspends BEP20 function
See original on DailyCoin
Source: Cryptocurrency - investing.com
