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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.
Tesla and Bitcoin are two of the most talked about topics in the business world. - Smelling something common? - Well Paul Krugman did!
Nobel Prize Laureate Paul Krugman recently made an interesting comparison between them, claiming that they have more in common than people think. In this edition, I will explain why his opinion is worth considering and how it could benefit customers who are interested in investing their money into either one of these assets.
First off, Krugman's statement should be taken seriously because he is a highly respected economist with decades of experience studying financial markets around the world.
His opinion carries weight not only due to his credentials but also because he has been vocal about both Tesla and Bitcoin over the years; thus giving him insight into both industries from multiple perspectives which allows him to make well-informed comparisons between them. Furthermore, by comparing Tesla to Bitcoin through a macroeconomic lens as opposed to focusing on individual characteristics like technology or design; it gives us valuable insights that can help us better understand how each asset interacts with global economic trends such as inflation rates or stock market volatility—information which can be beneficial for investors looking for long-term returns on their investments regardless if they prefer stocks or cryptocurrency options like Tesla’s bitcoin holdings .
Secondarily ,Krugman's comparison provides valuable information regarding potential risks associated with investing heavily into either option since there could potentially be similarities when it comes down to factors such as liquidity risk management strategies.
All things considered , having access to much needed data prior to making any investment decisions helps reduce chances of taking unnecessary risks while still allowing individuals to capitalize off opportunities when available . Lastly , understanding what makes each asset unique compared to others within its respective field — whether its blockchain technology used by cryptocurrencies versus electric vehicle batteries used by Teslas —can provide useful knowledge regarding where future profits may lie based upon current industry trends . This typeof analysis can give savvy investors an edge over those who simply buy without doing proper research first
In conclusion , Paul Krugmans comparison between Tesla & bitcoin should definitely not go overlooked due to his extensive background within economics & finance coupled together with the fact that he has studied both industries extensively before drawing conclusions ; furthermore his insights regarding potential risks and opportunities associated with eighting into either asset can help investors make well informed decisions when it comes to allocating their capital accordingly