Crypto Markets Prediction: The market situation is extremely tough with the rising inflation and the FED’s decision to increase the interest rates. Russia is invading Ukraine and the pandemic is breaking out yet again in many countries. The collapse of Terra, amd FTX has swept the crypto market this year. The performance if tokens looks gloomy and the crypto winter seems never ending. However, there are some positives to look at as we enter 2023.
The three positives that we picked are:
Bitcoin is seeing jump in accumulation
Although, the Bitcoin’s price has been at its lowest this year since 2020, there have been an increase in the number of account of Bitcoin holders. A study claims that the quantity of these “accumulation addresses” is approaching the 1 million threshold (793,591), a record-breaking milestone. Additionally, the total balance held by all of these accounts is 3,099,828 BTC, an increase of 18% from this time last year.
Despite the dropping price of BTC, investors seems pretty confident in long run investments.
Increase of jobs in crypto market
There has been a lot of hiring in the jobs in crypto world this year. However, there has been massive layoffs by companies like Coinbase, Huobi, Kraken and many more. The extreme market conditions have been responsible for this. Nevertheless, the layoffs is very low as compared to the hiring. In future, we will see a lot of job opportunities in the Web 3 space.
Data from Block Research shows that this year, 82,200 crypto positions were filled. This is a 351 percent increase from the 18,200 jobs that were filled in 2019. Web3 is currently experiencing a job boom across a wide range of disciplines, including design, data analysis, software, infotech, metaverse, market research, trading etc, that are inextricably related to Web3 and the cryptocurrency ecosystem. Trading and brokerage divisions account for more than half of all positions.
Investment in crypto market is high
Despite the disastrous events that happened this year in crypto, the VC funding for the sector has surpassed FinTech and BioTech.
In 2022, the amount invested in cryptocurrency venture capital reached 36.1 billion USD. Despite all the bad things that have happened this year, that is over 20% more than in 2021. Earn Alliance, Ramp Network, Roboto Games, Burn Ghost, and Keyrock are just a few of the crypto and Web3 projects that have raised more than 175 million USD in funding in just the last 10 days. A significant 2 billion USD metaverse development fund was launched on December 2 by Animoca Games, one of the biggest crypto venture capital firms.
Conclusion
Crypto Markets Prediction: Despite the market looking horrendous right now, these above points are clear indications that 2023 will boom the crypto sector.
