5 Crypto Trends for 2023

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2022 was a challenging year for crypto, with the implosion of Terra Luna, Bitcoin’s loss of half its value and, of course, the collapse of FTX, which had repercussions across the industry. 

Analysts are divided over Bitcoin’s chances of recovery in 2023, but new coins and blockchain-based technological innovations are entering the market at an incredible rate and the crypto space will continue to grow in new directions. 

Let’s take a look at a few of the trends expected to dominate the market in the year ahead. 

There have been many more calls recently for stricter crypto regulation and they are louder than ever before. These voices are now coming from all corners of the financial, judicial and government arenas, as well as from consumer rights advocates, in large part as a direct response to the FTX debacle, which occurred due to overwhelming failures in management, insufficient reserves, and the limited scope of audits. As a result, in 2023, we are likely to see greater oversight, with tougher crypto market regulations and more rigorous enforcement in jurisdictions across the globe.

CBDCs have been steadily gaining popularity, ever since the introduction of the Bahamian Sand Dollar, in 2020 and the pilot launch of the Chinese digital Yuan this time last year, which already has millions of users as well as billions in transaction volume and is already available in over 20 major cities.

Expectations are high for the introduction of GBP, USD and EUR, CBDCs in 2023. In fact , in Brussels in early November, Christine Lagarde President of the ECB, in a speech at the High Level Conference on the Digital Euro, stated: “Our work on