Huobi Research
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Huobi Research

Global Crypto Industry Overview and Trends[2022–2023 Annual Report](First Part)


1. Crypto industry under global economic condition

1.1 Global macroeconomic condition: inflation, interest rate hike and depression

1.2 The year of evanescence for crypto

1.2.1 Market: from bull to bear and getting worse

1.2.2 Applications: developments and innovations in the downturn

1.2.3 Investments: seeking hope in bear market

2. Geographic Analysis of the Crypto Industry

2.1 Regional market traffic analysis

2.1.1 Global crypto user growth slows, with Asia accounting for over 40% of the total

2.1.2 Top 3 traffic source in CEX: U.S.A, South Korea, Russia

2.1.3 The US: where majority of DeFi users are from

2.1.4 “NFT” has become the most discussed topic on crypto worldwide

2.2 Regional Market Industry Analysis

2.2.1 North America: The main battleground for DeFi innovation

2.2.2 Southeast Asia: the emerging market, crypto user base surged

2.2.3 Other regions in Asia: huge market to be explored, market enthusiasm remains

2.2.4 Europe: the war never stops the march of crypto legion

2.2.5 South America & Africa: application scenarios are dominated by payment processing and store of value

2.2.6 Crypto market development maturity index, the U.S. on the top

3. Top 10 events in the crypto industry in 2022

3.1 The collapse of Terra: the beginning of deeper bearish

3.2 The bankruptcy of 3AC: the “Lehman Moment” in crypto

3.3 The FTX incident: an earthquake in the industry

3.4 Radical interest rate hikes: highly-risky assets bear the brunt

3.5 The merge of Ethereum: a new era of POS has come

3.6 Sanctions on Tornado Cash raised industry-wise concerns on regulations

  • Tornado Cash page suspended by GitHub
  • Tornado Cash contributor accounts are banned
  • USDC in the Tornado Cash protocol are seized
  • RPC requests rejected by Infura, Alchemy

3.7 The Layer2 craze is back: tokens were offered by OP

3.8 Where is GameFi heading: X to Earn ends with StepN

3.9 The largest M&A of the year: the acquisition of Huobi

3.10 Framework design on upper-level: complete regulation is on the agenda

4. Infrastructure of Web3

4.1 The breakthrough of Ethereum

4.1.1 Rollup

4.1.2 The merge of Ethereum

4.2 The breakthrough of L1 chains

4.2.1 Modularization

4.2.2 Development of multi-chain network

4.2.3 New technology, new outlook

4.3 Data dock of Web3: the diffusion process of storage

4.3.1 Status of the storage track

4.3.2 Storage + Computing

4.4 The foundation of application layer: the domain name boom

4.4.1 Why domain name prevails

4.5 Cross-chain bridge: the rise and the threat

4.5.1 Status quo and future trend Status quo Development Trends

4.5.2 Summary and analysis of cross-chain bridge security events

About Huobi Research Institute




Blockchain industry top think tank, affiliated to Huobi Group.

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