10 Cryptocurrency Predictions for 2023!

10 Cryptocurrency Predictions for 2023!

Friends, before starting, let me congratulate you all on the New Year 2023! And may this year be successful in all aspects, local wars will end, peace will come and the global financial and economic structure will stabilize, because the prosperity and development of the entire crypto industry largely depends on this. I wish you a great mood and all the best to you!
2022 has been a particularly turbulent year for the crypto market, with many institutions – both decentralized and centralized – failing or struggling to stay afloat.
It seems that we are in the final stages of a bear market, when the crypto industry is cleared of bad players and practices: a process that is dramatic, but necessary for the maturity of the entire system. The foam is leaving, and Web3 technologies that have appeared as a result of this crypto winter are becoming visible, capable of changing a lot.
Web3 is the next evolution of information exchange. If you draw historical parallels, the transition from Web2 to Web3 is similar to the transition from a predominantly agricultural society to a more industrial one.
It is a computing framework designed to put people at the center and prioritize privacy. Blockchain technology will open up a new way to interact with the Internet and will fundamentally change the way we interact with each other.

>> Here are some predictions of what we can expect in 2023:

1) Cryptocurrency venture funding will continue to decline.

Most likely, this will happen in the first half of 2023, and this is not necessarily a bad thing. Think of it as normalization—a return to a rational level.
Investors don't want to catch a falling knife, so they're waiting for things to bottom out while also weighing broader macroeconomic concerns and the risk of a global recession. And funding will not dry up at all: new startups involved in the development of blockchains of 1 and 2 levels and issues of interoperability (Layer 0 / bridge), credit and trading protocols will receive funding.

2) Web3 projects will start to include big brands.

In 2023, the original anarchic ideal of Web3, which rejected the need for big brands, will disappear.
Participants will finally understand that when there is no external money from big brands, all you have is a token that has value solely due to the dollars of users and speculators.
Projects will begin to reach big brands and use the advertising, marketing and sponsorship dollars they generate. Because of this, Web3's dream of a microcapital token can be achieved by dividing meaningful external equity among real users.
Web2 brands such as Nike and Starbucks will continue to experiment with Web3, focusing on non-fungible tokens (NFTs) as the format of choice and focusing on customer acquisition over monetization.

3) It will become clear that the Web3 community is not a group of profiteers.

People will realize that the way many people think about the community in Web3 is bullshit!
“Community” was often just a great word, used primarily to describe a group of speculators on Discord who share a common dream of getting rich quick and abandon the project as soon as the growth carousel stops moving.
While we will continue to encounter exceptions to the rule, such as strong, engaged decentralized financial communities, as well as online and offline decentralized autonomous organizations such as LinksDAO, in 2023 we recognize that the existing Web3 /community fit projects were only for speculators. Once we understand this, we can no longer afford to ignore the need for actual product-to-market fit.

4) Web3 application developers will focus on quality and novelty.

As Web3 application development costs decline and user acquisition costs rise, the focus will be on quality and novelty. Web3 projects will be featured on the App Store and AdMob to help developers and users find each other more effectively.
Initially, L1 projects and wallets will compete for this position, but, most likely, they will be replaced by a new player. Breakthrough Web3 apps in 2023 will be more like the most downloaded and most profitable apps in the early days of mobile devices: simple user interface and graphics with intuitive yet innovative interaction and monetization mechanisms - like Angry Birds in 2009.

5) There will be many games without the possibility of cryptocurrency speculation.

The current trend towards “stability” and “steadiness” in gaming – stemming in some ways from the unfortunate experience of Axie Infinity (AXS) – will spawn a wave of products with stability built in, but without the dynamic boom and bust nature of most cryptocurrency speculation.
This will create a flat, muted gaming experience - sort of like a copycat version of existing Web2 video games. Of course, over time, game developers will remember that market speculation is part of the fun, and will try to use it again, but in a healthy and responsible way.

6) Traditional products will be in demand, but with basic blockchain components

Web3 will continue to have a strong niche with applications that are functional clones of existing businesses, but with some basic blockchain components. These applications will fill the niche market of users who want the same traditional core products, but with some similarities to Web3.
This parallels many early Internet companies (such as Amazon as an online bookstore) or mobile companies (such as Robinhood as a mobile online store). They will differ mainly in marketing and experience, and not in the main product offering. Some of them will bet on really breakthrough innovations in the spirit of Amazon.

7) Blockchain applications will rely on existing large-cap tokens.

In order to cope with the costs – core and additional (for compliance), blockchain applications will increasingly rely on existing large-cap cryptocurrencies to power the mechanisms associated with tokens.
Ethereum will continue to delay its roadmap into 2023, but once it eventually launches segmentation to lower gas fees, interest in alternative L1s will drop dramatically.

8) Stablecoins will find more use cases outside of crypto capital markets.

And that will lead to greater adoption — primarily among enterprises — and innovation in Web3. Government and private blockchain research and development will continue, with some of them announcing centralized public infrastructure such as central bank digital currencies or market infrastructure.

9) By the end of 2023, culture wars will flare up around cryptocurrency.

This will be related, in particular, to the US election cycles.
The existence of random hacks (eg Wormhole), overly aggressive risk-taking (eg Terra) and outright fraud (eg SafeMoon) will be more or less actively discussed in the industry. More and more politicians will take a firm stance on cryptocurrencies.
However, the US government will remain hesitant to regulate at the expense of the domestic crypto industry. And the regulation, which will nevertheless appear, will be a holey patchwork quilt that still allows risky projects to pass.

10) New areas of growth will begin to emerge.

Developers continue to operate in the bear market as well, so there will come a point in 2023 when new areas of growth will start to emerge outside of the existing prevailing narratives, such as NFT profile picture projects, play-to-earn projects, alternative L1 projects, etc.
New narratives will push the crypto market into the next cycle and it is hoped that these fresh frameworks will lead to real consumer utility and adoption resulting in several hundred million new crypto users/wallets.
In conclusion, the uncertainty of the future implies not only dangers, but also opportunities, and those who are able to quickly adapt will benefit if significant changes occur!


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