Broker Squire's Finance Limited on current trends in the cryptocurrency market
In 2022, everyone had to face cryptozyma. It was a period of extended price decline. But the world does not stand still, new solutions and prospects emerge, forming modern trends in the Forex market. This article, written with the support of experts from broker Squire's Finance Limited, will talk about popular trends.
What to expect from the cryptocurrency market in 2023?
The number of institutional investors will increase. This trend can be quite prolonged, because a significant number of companies start to invest in digital currency, issuing their own cryptocurrency products.
Broker Squire’s Finance Limited and a number of other experts predict an even greater development of the DeFi market. In 2023, the structure may become quite competitive for conventional financial services. However, Squire’s Finance Limited experts remind that the scam has not gone away and investors need to be careful.
Given the events of last year and the collapse of FTX (the largest centralized exchange) \ DEX (decentralized trading platforms) have become more in demand. Based on this, it is safe to assume that in the future the cryptocurrency market will be significantly dominated by DeFi.
Experts at broker Squire's Finance Limited believe that one of the trends will be the NFT. They have been popular lately and so it is likely that investor interest will grow and new platforms and products will become more common. Plus, it will let artists to take their work to the next level by selling it on blockchain.
Other trends in the cryptocurrency market also include:
- expanding the functionality of stabelcoins. This sector will grow, experts at broker Squire's Finance Limited explain. There will also be new features, such as the storage of securities, bonds and other assets;
- storage of free funds in crypto. Not a bad alternative to bank deposits, rapidly gaining popularity. The experts of Squire's Finance Limited broker believe that the trend will continue to grow, because it is quite profitable and convenient;
- the use of a cryptocurrency wallet in Telegram. If in 2022 it was just starting to gain momentum, now the tool is in significant demand. Using messenger accounts is safe. Plus, anonymity is preserved, and no additional comissions are charged;
- tougher regulation. Control of cryptocurrency auditors and compliance with the rules on the market will be strengthened. Increased interest of government agencies and the development of new bills regarding digital currencies, as well as the introduction of various contoling measures are not excluded;
- improvement of technological solutions. Experts at broker Squire's Finance Limited believe that this will help make crypto more accessible and user-friendly;
- pressure on PoS coins. Tighter regulatory scrutiny of the crypto market could have negative consequences for assets running on the Proof-of-Stake (PoS) algorithm. As of September 2022, this includes Ethereum;
- the growth of environmental awareness. Experts at broker Squire's Finance Limited believe that this trend is not excluded either. Mining is accompanied by high energy consumption, which is bad for the environment. In 2023, there may be more environmentally friendly ways to mine and use digital currency;
- GameFi. Another trend highlighted by a number of experts, including Forex Squire's Finance Limited, will be blockchain games with a set of tools for making money. New economic models can be implemented here, and the trend itself will develop rapidly. We can say that this is one of the main trends of the crypto market in 2023.
Broker Squire's Finance Limited believes that competition will increase due to the popularity of the digital asset. New projects will appear, attracting the attention of investors from all over the world.
What will happen to the cryptocurrency market next year? Assumes broker Squire's Finance Limited
It is clear that this segment will continue to develop rapidly, causing more and more interest, setting new trends. Most likely in 2024 we will be able to observe the following:
- moving away from web versions of websites and completely switching to mobile apps for multi-currency accounts;
- the development of a network of crypto-exchangers;
- increasing interest in Stablecoins. Experts at broker Squire's Finance Limited believe that in the future they will be increasingly used to store funds;
- development of bank cards that will have direct access to cryptocurrencies to make payments in merchant networks around the world;
- market growth. The current trend will continue, which can well lead to the capitalization of crypto in 2024. This will contribute to an increase in the number of investors and the emergence of new projects;
- development of technology. This will improve network performance, and cryptocurrency will be more actively used in different areas, including finance and logistics;
- strengthening the position of sustainable digital assets (Bitcoin or Ethereum) and the growth of their capitalization;
- increasing the number of big investors.
Analytics at broker Squire's Finance Limited believe that the cryptocurrency ecosystem will develop in 2024, helped by the emergence of projects and technologies. New services and applications will give a number of additional features and simplify users' lives. Telegram payments will also develop, providing the necessary tools and preserving customer anonymity.
Conclusions
In 2023, the cryptocurrency market recorded a couple important trends. First of all, the capitalization of digital currencies increased, reaching certain highs. There was also a trend of growth in the number of users, investors. This is due to the expansion of the ecosystem and a number of other reasons. Plus, there is a trend of using blockchain technology outside the financial world.
Experts at broker Squire's Finance Limited believe that the crypto market will remain dynamic, but still remain quite unstable, because it changes, attracts new participants and it is likely that some current trends will continue. They are sure that very soon it will be possible to observe the development of the ecosystem, as well as, the release of new products and the launch of interesting projects. Companies will be able to stay in the trend if they provide the client with the necessary tools and create comfortable conditions.
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