, there’s been no shortage of contagion, fear, uncertainty and doubt floating around. In what feels like the 13th month of this painfully long year in crypto, H.E. Justin Sun shared some insights on his outlook for 2023. In short, Sun stated “I believe that 2023 will be a year of recovery.”
Unfortunately, the option to continue building isn’t possible for everyone. For those who were directly impacted by the FTX collapse, the end of 2022 may seem like the end. However, major players in the industry are banding together to help support those projects looking to make a lasting, positive impact on crypto.
So what’s up next for crypto in 2023? In the webinar, Sun states that Asia’s adoption of crypto and stablecoins, along with the new developments of decentralized identity, are going to be big trends into the new year. This adoption is expected to continue and the strength of stablecoins and their use cases have only grown. During the FTX incident, we saw Tether, USDC, USDD and other stablecoins get depegged for a few hours to a few days. Yet the strong foundation for stablecoins lead to the rapid reclaim of value. Even in an event like FTX that caused a massive contagion throughout the market, stablecoins have continued to maintain their value.
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