5 Trends From 2022 to Watch Out For in 2023
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Loading... - James Kipngetich
- 13 Feb 2023
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More than 80% of NFT trade volume in 2022 was wash trading. A flight in assets from centralized platforms (CEX) was seen throughout the year. Liquid staking remained the largest staking category and continued growing in 2022.
If 2022 was anything to go by, the cryptocurrencies industry remains a highly innovative one with new developments always in the offing.
However, not all developments were positive, indeed many contributed negatively to the industry and its reputation. As another year gets to speed, with help from several Dune dashboard, these are some of the trends we will be watching out for in 2023.
1.) ETH Staking
2022 was always going to be a significant year for Ethereum due to its transition to a full Proof-of-Stake blockchain, christened ‘the Merge.’
Staking on the beacon chain was already an established trend through 2021, but in 2022 it grew to new heights.
According to this dashboard by Dune Analytics, almost 7 million $ETH was deposited to the Beacon Chain throughout 2022, and the number of validators grew by more than 215,000.
15.84 million ETH is now staked, 13.14% of the entire supply.
Continuing an established trend from 2021, liquid staking remained the largest staking category and continued growing in 2022:
Within the liquid staking space itself, Lido remained the market leader, increasing its marketshare from 18% to ~30% throughout the year.
This all helped to propel the network to a successful Merge and relatively seamless switch to Proof-of-Stake. Read More…
