The research division of bitcoin exchange Binance believes that 2023 was a successful year for the cryptocurrency market and the blockchain industry as a whole.
The coming year will be even more impactful for the industry and virtual currencies. A report by Binance Research states that the total market capitalization increased by 109% in 2023.
The biggest growth in the value of virtual currencies was seen in the first and second quarters.
The fourth quarter was also productive for bitcoin, Binance analysts emphasized.
In October-December 2023, the market grew on expectations of the launch of spot crypto ETF funds that invest in BTC.
In parallel, there was an increase in the capitalization of stablecoins. The dominance of USDT approached 71%.
In 2024, Binance expects a more active institutional entry into the cryptosphere.
In addition, the exchange predicts the expansion of the tokenized assets sector, an increase in the number of users of decentralized applications (DApps) and the widespread adoption of artificial intelligence