OKX Ventures Predicts Resurgence of Crypto Innovation in 2023 Crypto Investment Outlook Report | news
VICTORIA, Seychelles, Jan. 25, 2023 (GLOBE NEWSWIRE) — OKX Ventures, the investment arm of leading global cryptocurrency trading platform OKX, has released its 2023 Crypto Investment Outlook Report. The report provides insights based on proprietary and third-party data on what to expect in the industry in 2023.
Ethereum continues to dominate the developer space
As Ethereum’s move from Proof of Work to Proof of Stake results in a 99% reduction in energy consumption, the ETH merger will deliver enhanced scalability, security, and green solutions – an attractive prospect for new and existing developers who are passing on these benefits would like to pass on to their users. Danksharding is expected to increase TPS to over 100,000 after the Shanghai upgrade.
Web3 Innovations
The Web 2.5 area will continue to grow. Traditional brands, Internet companies and KOLs have been successful enough in the Web3 space for Web 2.5 applications to attract a number of new users to the crypto industry.
With low-threshold wallets, improved Web3 experiences, easier access to DApps, the introduction of secure, shared open-source solutions, and many more innovations along the way, we will start to see a more user-friendly environment for crypto beginners to explore Web3 .
DeFi revitalization
Decentralized stablecoins should make a comeback. Stablecoins are vital to DeFi protocols and can be used to attract new users to DeFi, improve liquidity and increase protocol revenue and FDV.
The rise of GMX represented a breakthrough in adoption in 2022. Layer 2-enabled derivatives will also emerge.
The NFT industry is expected to move beyond digital art and towards wider acceptance in consumer applications. The next NFT innovation cycle is likely to include AMM mechanisms, liquidity pools, and NFT loans, among others.
Industry-wide focus on infrastructure
Bigger bets are being placed on permissionless and decentralized infrastructure projects, including new data tools.
Liquidity fragmentation through layer 2 solutions, app chains and multichains like Cosmos also brings greater opportunities for MEVs. The way Flashbot extracts on Ethereum will be completely different after Dankharding, potentially creating a new MEV landscape. The industry can also expect further MEV innovations in 2023.
safety in the chain
On-chain data, tracking tools, and asset recovery tools are expected to be one of the main focuses of 2023. On-chain data can not only support Web3 security governance, but also help in monitoring on-chain activities. Web3 user behavior and lost asset tracking. There is exciting potential in this area and institutions are paying attention.
Read OKX Ventures’ full 2023 Crypto Investment Outlook Report here.
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About OKX Ventures
OKX Ventures is an investment company under the world’s leading trading platform OKX. It focuses on researching the best blockchain projects on a global scale, supporting the most innovative blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
OKX Ventures is committed to helping entrepreneurs contributing to the development of the blockchain industry build great companies and bring global resources and historical experience to blockchain projects.
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