Huobi Report Suggests Cryptocurrencies Will Bottom Out in 2023

A Huobi Research report predicts that the cryptocurrency market will bottom out in 2023. As well as significant advances in on-chain storage and Layer 2 rollups.

Huobi researchers have dove into the major events that occurred in the cryptocurrency market and industry in 2022 to try to predict how they might shape the landscape in the coming year.

With the reduction of leverage in DeFi protocols and the Federal Reserve likely to have passed the most difficult phase of its tightening strategy, Huobi believes that the market jitters caused by the FTX collapse will bottom out for the cryptocurrency industry. in the first quarter of 2023.

For their part, they noted that the success of DeFi in 2023 will likely come from protocols that ensure a stable revenue stream. Instead of relying on users to provide liquidity in exchange for rewards. 

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