Crypto ecosystem in 2023
2023 saw the birth of many narratives and catalysts for many cryptocurrency projects and ecosystems, with some of them seeing explosive, overnight surges in total value locked (TVL) and others growing more organically.
zkEVM
zkEVM ecosystem has recently become a popular topic in the crypto community, especially in the Ethereum ecosystem. Combining zero-knowledge proofs (ZKP) and EVM could benefit Ethereum regarding scalability, throughput, composability, and data replication.
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Real World Assets - RWAs
Real World Assets (RWA) refers to tangible and intangible assets that can be tokenized using blockchain technology. RWAs protocols bring the off-chain assets on-chain, unlocking an untapped potential of new revenues and resources for DeFi.
Liquid Staking Derivatives (LSD)
Liquid Staking Derivatives (LSD) are tokenized versions of locked tokens in deposit contracts or while being staked. This allows users to use their tokenized ETH (or other tokens) without having to unstake the actual funds.
Telegram Trading Bots
Telegram crypto trading bots became popular in 2023 as they offer an automated system for trading in decentralized exchanges, allowing users to trade and execute operations more efficiently and faster.
Final Thoughts
The narratives mentioned here revolve around the most talked about topics, trends and protocols this year, but there are a few other narratives that are being formed and gaining traction at their own pace as well.
Hot Take
Chinese tokens: this year, Hong Kong allowed retail investors to invest in digital assets, which has brought a surge in price for Chinese-related coins such as NEO, BitDAO’s BIT, VeChain’s VET, and more.
