The cryptocurrency market faces a major setback in 2022 with several negative headlines impacting companies in the sector and driving down the price of major cryptocurrencies. With the crypto industry in a bear market, many are wondering if the crypto industry will revive in 2023 or if prices will continue to fall.
Benzinga asked his followers which cryptocurrencies could outperform in 2023.
What happened: Some of the major cryptocurrency stories for 2022 include: Celsius, 3AC, Voyager and stablecoins tether USD/USDAnother big story that the market is still reacting to is the bankruptcy of cryptocurrency platform FTX.
Cryptocurrency market capitalization will peak at $2.9 trillion in November 2021. This month is the month when many cryptocurrencies hit all-time highs.
In 2022, the market capitalization of the cryptocurrency sector will fall below $1 trillion, ending below $800 billion at the end of the year.
Major cryptocurrencies were affected. Bitcoin Bitcoin/USD, ethereum Ethereum/USD, dogecoin Doge/US Dollar When Solana Sol/US Dollar One of the biggest losers of the year.
Related Link: ‘You Can’t Ignore Us. Here We Are’ — Block Pierce at Blockchain Hub Davos 2023
Gasoline vote: Benzinga on Twitter Asked We asked our followers about the cryptocurrency market in 2023.
Here are the poll results:
- Dogecoin: 26.7%
- Bitcoin: 38.5%
- Ethereum: 28.7%
- Solana: 6.2%
Bitcoin, the leading cryptocurrency, led the vote with 38.5% of the vote, followed closely by Ethereum and Dogecoin in second and third place respectively.
Solana trailed the other three with just 6.2% of the vote.
Twitter user @CEOofX voted for Solana with the thought “just because of how much Sol went down.”
Others on Twitter didn’t like any of the four options.
User @richardallanmcl said, “We’re all zero in 2023.”
User @UofT2020 asked, “Why not choose Crash?”
Only time will tell which cryptocurrency will lead the way in 2023, but Benzinga continues to cover the space.
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