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What’s Next for Crypto? Trends Analysis 2023 & Beyond | Decentralised News | Profitable Crypto trends
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00:00Welcome back to Decentralized News. It's good to be back on the channel once again.
00:07Please give us a like and a subscribe. I'd really appreciate it and it would pretty much motivate me to keep making more content on a regular basis.
00:17So today I just really want to touch on some of the top trends that I think are going to be very prevalent in the crypto markets from 2023 going forward.
00:30I think it warrants giving everything a bit more context as far as just looking at how cryptocurrencies have actually made us rethink the societal contract or the social contract that actually binds our global society together.
00:47And also just changing our ideas and sometimes even our ideals around how we store value, how we exchange that value and also just the ways in which we establish accountability.
01:01All of this is obviously important if you are looking to establish a firm foundation that is actually necessary if you want to facilitate global trade using these digital currencies.
01:14So blockchain technology itself has been front and center because it has not only made faster peer-to-peer and censorship resistant cross-border exchanges possible.
01:27Now it has also then gone ahead and actually provided a solution to how broader financial inclusivity can actually be achieved if you open up markets with lower barriers of entry.
01:42And of course cryptocurrencies can be and of course cryptocurrencies can be one solution.
01:45But of course they're very wide-ranging verticals as far as the applications of distributed ledgers and blockchain technology.
01:54But it's also important to note that not only are these digital assets actually pushing the value of innovation upstream, they're also starting to then pave the way for institutional and policy changes that could also facilitate faster adoption.
02:11And arguably, you know, uptake is still relatively low if you look at sort of the number of users who are currently owning Bitcoin or active wallets, for example, or just the number of active traders in the world.
02:29But what is very important then to note, despite all of that, is that, you know, there are numerous sources and a whole lot of research that's been done that is actually highlighting that the market is expected to continue.
02:41On an exponential growth trajectory, and I'm referring to the crypto markets and the blockchain market at the moment.
02:48So according to Adjust and Up Top Years research findings just last year, crypto app installs, it actually surged up to or passed 400% year on year.
02:59And that growth was also expected to continue throughout this year.
03:03And they also did report that crypto apps are actually beating stock trading apps on user engagement as well.
03:11And this is pretty fascinating.
03:13Now, some of the apps that have really gotten a lot of user engagement and uptake include Binance app, Coinbase app, Crypto.com.
03:22And some of the most used Web3 wallets at the moment include Trust Wallet and also MetaMask.
03:28So aside from all of that, obviously, from an industry perspective, if you want to take a zoom out further, you can just actually look at what advanced nations and developing nations all across the world are doing as far as what they're trying to establish in the digital currency ecosystem for their own national interest.
03:51So a lot of them have actually started to look into how they can even issue their own CBDCs or central bank digital currencies on the blockchain.
03:59And according to some research by Grandview Research Inc., it was actually reported also that the global technology market in the blockchain sector is expected to grow at an annual compound growth rate of about 85.9% from this year all the way to 2030.
04:22And we've seen countries such as the Bahamas, Nigeria and countries in the Eastern Caribbean Union, for example, who have already launched their CBDCs in an effort to create their own form of digital currency that is meant to help speed transactions and also to serve the people in those economies that do not even have access to bank accounts.
04:45So all of these developments are happening.
05:15to extend the trial of their digital currency to other major provinces, including Guangdong.
05:22And according to other reports, as well as of October last year, over 140 million people have already opened their E-Chinese yuan wallets.
05:35So these are the E-C-N-Y wallets.
05:36So these are the E-C-N-Y wallets and over 62 billion dollars yuan or 9 billion US dollars already of transactions were carried out using the CBDC.
05:49In India and the US and the Eurozone, we've also seen that they have CBDCs in development.
05:56So you're probably now wondering with all of these ongoing developments, what does this all mean for the future of finance and blockchain in general?
06:06So today we are going to take a look at some of these trending use cases of blockchain technology used to date.
06:13And then we can then look at some of the key areas of focus within the industries where the greatest opportunities could actually come from in the future,
06:21both from an investor trader perspective, but also looking at some of the factors that could lead to mass adoption of cryptocurrencies and distributed ledges.
06:31But as I've mentioned before, at the beginning, the world is in fact at the moment currently experiencing major shifts in narratives around all these major topics,
06:42including climate, environment, global politics, geopolitics, health and technology and so forth.
06:50So when we look at some of these things that are happening in the world, the tensions that are going on,
06:56and obviously things that have actually started escalating since the pandemic.
07:01And now you've got Russia and Ukraine and the world population increasingly also becoming distrustful of legacy powers and the institutions that they've built,
07:11which are often seen or sometimes even proved to be corrupt.
07:15And the need for solutions to keep the fabric of humanity together is crystal clear.
07:21And this is where the value of proposition of blockchain technology is being sort of brought into the narrative.
07:28The bigger question will be, of course, will all this global volatility and all these imbalances among players with different economic interests result in a collapse?
07:39Or will greater multipolarity actually lead to maybe an increased resilience in the global economic order?
07:48And of course, what does a blockchain have to do with all this in terms of the role that it actually plays in liberating or enhancing,
07:55let's say, transparency and possibly even freeing people who are subjugated entire populations,
08:01who are subject to levels of control that could actually be even made more dire by introducing some of these technologies.
08:11Some do argue that CBDCs are in fact that.
08:14We're also seeing even now that there are concerns around the recent, for example,
08:19Ethereum merge where the reports surfacing that over 51% of blocks validated on Ethereum chain are being censored.
08:27And of course, this is another shift in narrative as far as some of the projects that are already mainstays in the space.
08:35I'm mentioning one of this because I want you to get a real clear understanding of why I favor some of the things that I feel are going to do or perform well into the future due to some of these nuances that, you know,
08:48we have to actually really just always keep top of mind.
08:51But all that aside, some of the areas that I do see showing a lot of positive outlook for blockchain technology application revenue growth,
08:59for example, in the next coming years would be things that have to do with digital identities.
09:05And of course, exchanges, payments, the smart contracts and supply chain management.
09:11So let me just give you a rundown of a couple of projects that I'm looking at and maybe you might find these interesting for yourselves.
09:20If you follow in this channel, then you know that a key interest area for me is definitely DeFi and decentralized finance is something that I feel like we're going to get a second wave of a real bull market in this area.
09:35I think a lot of the developments in this space are likely to actually see significant inflows of capital in this area.
09:44And we've already seen sort of entities that are really large, such as the Bank for International Settlements Committee on Payments and Market Infrastructures.
09:55That's the CPMI and the International Organization of Securities Commissions, IOSCO.
10:04They are actually or they have issued guidance concerning or confirming the stable coin arrangements that should be observed as international standards for payments, clearing and sort of our settlement systems as well.
10:21And we've also, in addition to this, seen major players such as JP Morgan investing in critical DeFi infrastructure.
10:30And we've also seen even the likes of Coinbase publicly admit to the fact that decentralized exchanges, for example, are some of the key threats to their business.
10:42This was in an S1 filing and all this actually just makes DeFi or decentralized finance in general more of a bullish case, in my opinion.
10:55And I feel like DEXs such as Uniswap or 0x or Paraswap and Sushiswap will continue to do well.
11:05So investors and traders that might want to sort of leverage this growth in these markets could typically want to hold tokens such as Uni or Sushi.
11:17Of course, this is not financial advice and also to admit that I do own these tokens.
11:22But, you know, this is something that you might want to look at as a play to just sort of capitalize on the growth of these DeFi markets.
11:31So also, I feel like non-custodial decentralized peer-to-peer protocols such as Compound and Aave will likely do well as well.
11:40And this is because as these institutional investors actually seek stable coin yield or crypto asset yield in general, you'll see that, for example, last year, Aave did announce launching their Aave Pro,
11:55which would be a KYC sort of enabled pools access to provide these institutional investors with that direct access to these DeFi lending markets.
12:07Also, yield farming. Again, I think people think that, you know, these trends have sort of gone away.
12:13But I think, you know, when we saw that first wave of yield farming explosion in the space, I feel like I think it was good for experimental purposes,
12:22for really the ideas to get some kind of minimal usage.
12:27And I think a lot of these platforms and protocols have gone on and really kind of worked on how they can even attract institutional players into these markets.
12:39Since, of course, this enables the staking of these crypto assets in these various non-custodial DeFi protocols in order for people to earn yield or, you know, high fixed or variable rates with direct access as well.
12:55Well, like I said, to these DeFi markets and some of those platforms that might do well, things like Yen Finance or Vespa.
13:06And I think some of the other areas are just going to be sort of seeing some good momentum in terms of just inflows of capital into those markets.
13:19I feel like DeFi derivatives are going to do well. I've mentioned this many times and I expect to see those trading volumes increase over time.
13:28So I have been sort of positioning myself with things like looking at platforms such as Gains Network, which is a DeFi ecosystem on Polygon consisting of a leveraged trading platform staking pools in a bridge.
13:43Another platform is Premier that we recently also reviewed, which is an automated options market that brings peer to pool trading and capital efficiency to DeFi options as well.
13:57So you've got decentralized exchanges like a board that I've also done recent sort of reviews on, which you can find on our main site.
14:08Also, I think insurance and DeFi is going to be pretty big. So I'm looking at projects like Enix M or Nexus Mutual.
14:15I'm part of the mutual. And recently I've also personally been buying or positioning myself by purchasing certain tokens.
14:23So I have recently acquired GNS Umami, DPX, CRV, REN, Balancer, BAL, LPC. I even got Banco's BNT and Premier.
14:38So, yeah, you know, I think these are some of the promising projects, in my opinion, of course.
14:44So please do not take that as financial advice. But I also feel like blockchain ecosystems that are going to do well include Arbitrum and Polygon.
14:54And of course, you know, obviously capitalizing on that limitation of Ethereum as far as scaling goes.
15:01And of course, some of the controversies that we're seeing, even though they are part of that wider ecosystem.
15:06So most of these platforms and tokens, I think we've reviewed and covered a lot of them on our main site.
15:12So please do head on over to decentralized.news and you can get all the best cryptocurrency exchange reviews, DeFi platform reviews.
15:18You can even see NFT marketplaces, free resources and tools to help you navigate your way in this whole ecosystem.
15:25If you want to learn more about real world asset tokenization on the blockchain using blockchain technology or these different use cases of distributed ledgers.
15:33If you want to look at how blockchains are being used across insurance, supply chains, capital markets, are they being used in health care and public sector and all of these things.
15:44You can also check out my book, Blockchain Applied.
15:47So the links to those books, Tokenized, Trillions and Blockchain Applied are both in the links below in the description.
15:55So please give us a like, share, subscribe and also give me some feedback in terms of what kind of information you would want to see more on this type of channel.
16:06And I'd be happy to do some research and bring all that stuff to you.
16:10But I will be doing a follow up video on this as well, just to give you a little bit more about my personal take on what the trends from 2023 and beyond are going to be.
16:22And, you know, we are here for the long haul.
16:24We're here to stay right in this crypto markets during the ups, during the downs.
16:30We stay committed and like peace.
16:34I'll see you guys in the next.
16:35Join our telegram and our discord links in the description.
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