Huobi Announces Expectations for 2023

The Huobi exchange, which has recently taken steps from issuing a national currency with the Dominican Republic to a partnership with Poloniex and rebranding, announced its 2023 forecasts.

“We are in a deep bear market”

In the detailed report prepared by the research team of the stock market, it was noted that the market is currently in a deep bear market. In the article, which stated that the Fed’s tightening policies, events such as the FTX and Terra LUNA collapse, also caused more than $ 2.2 trillion to leave the market, it was stated that a bottom is expected in crypto as of the beginning of 2023:

“As the bear market continues, we have offered some suggestions to avoid pitfalls and improve asset protection at the bottom of the market. Finally, we would like to make some predictions for the sector for 2023:

(1) Market will bottom out in early 2023

(2) Social businesses in the Web2 space, such as Twitter, will continue to advance the Web by introducing the new SocialFi model

(3) Ecological richness for Layer 2 projects will come in 2023

(4) Accelerated ZK network will be presented to us this year

(5) Decentralized application chains will grow rapidly

(6) The demand for on-chain custody services is increasing day by day and in this sense, besides seeing very important developments, organic growth will also be achieved.

(7) On-chain regulations will be developed and will be more with us. This may jeopardize the existence of some protocols.

(8) Cryptocurrencies will be accepted by more countries as a means of payment or as fiat money.

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