6 Crypto Trends That Are Leading the Industry in 2023

The crypto market is going through a rough time, no one can deny that. There was a good bit of optimism early on in the year, but now investors are a lot more cautious about allocating their money. This applies to both retail investors and institutional investors, as both of these have been hit hard by the crypto winter.

The cautious approach to investment is what is driving the crypto market in a different direction. Gone are the days when funds will be thrown around without second thought. The crypto market is experiencing something akin to the dot-com bubble of 2000, and 2023 will be a strong reflection of that.

However, there are some positive trends emerging out of this crypto winter, leading us into a crypto spring. There are 6 major trends that are emerging in the industry, which are likely to dominate in 2023, a year that seems like it will be fraught with change.

6 Trends

1. Focusing on Social Causes

One of the major trends hitting the market is the fact that investors are moving towards investing in more socially conscious projects. The prime example of this is IMPT, a project that is essentially a carbon credits platform.

IMPT is building a decentralized platform where stakeholders can purchase IMPT tokens to buy carbon credits. 1 carbon credit offsets 1 ton of carbon output. The tokens can also be earned by participating in various activities in the ecosystem.

If these carbon credits are burnt, the burner receives an NFT. The NFTs can then be held as a collectible or sold on an NFT marketplace like OpenSea or Rarible. 

2. A Move to More Reliable Assets

In volatile periods or times when the market is heavily bearish, investors turn to safer assets. In the crypto space, that’s either stablecoins or bitcoin. The latter has always managed to bounce back and has proved itself time and again after many crashes. 

Bitcoin is going to lead the market recovery, as it always has. Investors will look to assets that have proven themselves to be reliable over the years and there is no better choice there than bitcoin. Ether will also be a strong asset as it has such a strong presence in the DeFi space.

3. Better Social Social Engagement in Metaverses

Metaverses continue to be a major trend in the market but what is lacking is a strong social foundation. RobotEra seeks to change that and could set the tone for 2023. This is a metaverse with a futuristic robot theme with players being the robots.

The metaverse is highly social natures and players can attend concerts, casinos, and salons as they engage with others. They can also create their own interactive social experiences without needing any coding knowledge. This is an exciting way to encourage players to build fun experiences they would enjoy – while being paid for it.

The presale for TARO will take place in Q4 2022, so those interested should gear up for what could be a quick sale. The tokens can be purchased in either USDT or ETH, with the minimum investment being 1,000 TARO.

4.  Stablecoins Becoming More Prominent

Stablecoins are a cornerstone in the DeFi space, and they also play a vital role in volatile periods as capital flow into more stable assets. This is likely to continue into 2023 when investors are unsure about which direction the market might be heading.

When not investing in one of the trends we have described here, market participants will undoubtedly store their crypto funds in popular stablecoins. Paying attention to how these funds flow could give traders better insight into what new tokens are being examined by more experienced participants.

5. Meme Coins Taking Over

If there’s one trend that seems like it will never go out of fashion, it’s meme coins. These special tokens always operate according to their own will, and sometimes they outright go against market trends. It’s unsurprising since they operate a lot on pure hype.

One meme token that beat the trends of the crypto winter is Tamadoge. This metaverse-focused meme coin offers much more utility than other meme coins, which is what made it such a hit with investors. From a P2E game to an arcade, Tamadoge offers a lot of features that investors can earn from. 

There are over 21,000 Tamadoge NFTs available, divided into different ranks of rarities. These NFTs have different stats for the Tamadoges, which is useful when engaging in PvP battles.

Tamadoge’s NFTs are available right now for purchase. The TAMA tokens can also be bought on the OKX exchange. 

6. Real-world Mirroring

One of the most interesting concepts with decentralized technology is how it can be used to mirror real-life events in a metaverse. There is no project that is doing this better than Silks, a P2E game and metaverse that mirrors the real world of thoroughbred horseracing. 

Whatever happens in the real world, happens in the Silks game. For example, if a horse wins a race in real life, it is reflected in-game, rewarding players. There are many NFT collections in this project and multiple ways to earn revenue.

Players can buy, breed, and train horses, but they can also stake in the Community Horse Farms or just build Horse Farms on Silks Land. In order to do all of this though, they’ll need their own Silks Avatar.

The Silks Avatars are currently available for sale, though many of them have already been sold.

A Lot to Look Forward to in 2023

The crypto market is going to undergo a sea change in 2023, with the aforementioned trends dominating how the market plays out. There are projects working on exciting use cases that will make investors and users rethink how the crypto market can be designed. This bodes well for the space as a whole and should help raise the market out of its slump.