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Top Cryptocurrency Trends for Businesses

Abigail Sanchana
Top Cryptocurrency Trends for Businesses

According to Statista, global equity funding and investment in blockchain startup companies were valued at $3.08 billion in 2019, up from $1.25 billion in 2017. If you want to start a business with the same concept, read the Guidelines for Starting a Successful Cryptocurrency Exchange platform.

However, some positive trends are emerging from this crypto winter, which will lead us into a crypto spring. Six significant trends are emerging in the industry that is expected to dominate in 2023, a year that appears to be fraught with change.

Let us go ahead with the major cryptocurrency trends to look out for in 2023 and beyond.

1. Stablecoins to Take the Lead

Stablecoins are cryptocurrencies designed to reduce price volatility. These currencies are intended to be pegged to a stable asset, such as cryptocurrency, exchange-traded commodities, or fiat money.

2. Governments Launch Their Own Cryptocurrency

COVID-19 was one of many things to come out of China in late 2019. Along with it came word that China intends to launch its own cryptocurrency to compete with Bitcoin. The Chinese government, led by Xi Jinping, has backed the initiative, which aims to replace the age-old cash system.

3. The Age of Institutional Investors

One of the most significant cryptocurrency trends is the entry of institutional investors. While individual investors continue to increase their trade figures, institutional investors are expected to climb the ranks in 2023. This is novel because individual investors have previously dominated the cryptocurrency industry. 

4. Cryptocurrency-integrating Payment Gateways

PayPal's move has paved the way for mobile wallet providers to enter the cryptocurrency industry. As previously stated, cryptocurrency investors are looking forward to decentralized exchanges where they can sell and buy cryptocurrencies. PayPal operates on a decentralized network, making it a safe option for investing in cryptocurrencies.

5. The Growth of Decentralized Exchange Platforms

New decentralized exchange platforms that allow digital coin transactions are one of the best cryptocurrency trends to invest in 2023. For instance, Check Into Cash, a US-based provider of financial services, allows customers to buy and sell virtual currency.

6. STOs Will Replace Initial Coin Offerings

Currently, the premise of cryptocurrency exchange is the initial coin offering (ICO). However, because ICOs are unregulated, investors are at risk. It's one of the reasons major investors avoided investing in cryptocurrency.

STOs, on the other hand, are subject to SEC oversight. They have fewer exchange platforms than ICOs. Furthermore, STOs are supported by company shares, investor benefits, and dividends, and they are less susceptible to fraud than ICOs.

Finishing Up

While it is difficult to predict how the cryptocurrency industry will behave in 2023, one thing is certain: cryptocurrency is here to stay. With institutional investors now in the market, we can expect some significant Cryptocurrency Exchange Development and advancements in the cryptocurrency investment space.

Prepare for 2023 if you're a cryptocurrency startup. With global funding for cryptocurrency trends on the rise, 2023 will present significant opportunities for crypto businesses.

Abigail Sanchana
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