Today, we're exploring key cryptocurrency trends that are making waves in 2023 and expected to continue into 2024.
These trends highlight both opportunities and challenges for the industry and investors in today's economy. And hopefully, this close examination will give you a clearer picture of the evolving crypto landscape, no matter if youâre a newcomer or seasoned crypto investor.
Crypto Trend No. 1: The Continued Domination of DeFi
The development and growth of the decentralized finance sector was the main narrative of the last bull run. According to Coingecko, DeFiâs market cap was reported to be $52 billion so far in 2023, with expectations of further growth attributed to the adoption of DeFi-based services and trends.
The total value locked â which represents the liquidity and thus use of a platform or sector â in DeFi reached an impressive $83.3 billion in Q1 2023, further indicating the growing demand and trust in DeFi protocols.
To me, this is bullish. DeFi continued developing even during the bearish and neutral long-term cycles. And itâs not done yet.
