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Crypto.com Report: By 2023, Crypto Ownership Could Double.

Despite challenging socioeconomic conditions, there has been a noticeable rise in cryptocurrency adoption in 2022.

In November 2022, there were 402 million cryptocurrency owners, breaking the 400 million barriers. According to Crypto.com, usage increased at an average monthly growth rate of 2.9% throughout the course of the year.

The growth is impressive given that 2022 was one of the worst years for the sector. According to the exchange's estimate, the number of cryptocurrency owners worldwide might double by 2023 to 600–800 million.

What about other cryptocurrency industries?

The report also emphasizes that in the coming years, there may be a number of AAA blockchain games. One of the industries least impacted by the 2022 market slump was blockchain gaming. This is explained by the fact that the gaming business prioritizes innovation over financial success.

The paper also noted a potential market driver, which may be the rise of Soulbound Token applications (SBTs). SBTs are NFTs that cannot be traded or transferred (non-fungible tokens). SBTs are associated with a particular person or item. They transmit social identity by containing the owner's commitments and credentials.Crypto.com predicts a stronger focus on user education and security in 2023.

In 2023, there can be increased spending on security audits and certifications. The company does anticipate that continuing the trend from 2022, additional educational programs will be introduced in this sector. Other sectors that might experience development in the upcoming year were also mentioned by Crypto.com.

Among these are utility-based Defi apps, new blockchain infrastructure, and acceptance of zero-knowledge proof. The research also emphasizes the anticipated rise in institutional investments in the cryptocurrency industry, which suffered a setback in 2022.

Nevertheless, this year has taught us a lot of valuable things. The catastrophic year of 2022 is coming to a close, and the next year may prove to be one of progress and development. The market capitalization of all cryptocurrencies was $832 billion, down 1.8% from the previous day.