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Don’t write crypto off just yet…
Top Takeaways from 2022 Binance Research Crypto Report
Despite terrible global market conditions and the crypto winter experienced in the first half of the year, Binance Research research arm of the world’s leading cryptocurrency exchange, has said they are extremely positive about the future of this budding industry.In fact, they are of the view that recent events are critical to help shape its future.
“Market booms and busts are not uncommon and are characteristics of market cycles. The market downturn has helped to weed out excesses and the reset in valuations back to more sustainable levels is arguably a positive development for the long-term viability of the ecosystem. We remain optimistic about the long-term outlook for crypto since we continue to see further adoption and innovation in the space,” their 2022 Half Year Report states.
The report highlights the top movers, shakers, trends and developments in the cryptocurrency space at the moment.
1. Gaming/Entertainment and Asset Management were the two industries that saw the greatest number of investments. In total there were more than 1 000 investments in the crypto space.
2. The competition between Level 1 networks (L1s) remains fierce. When Bitcoin was first introduced it had no competitors for years. Today, 50% of the market…
