5 key takeaways from Huobi 2022 crypto industry report
Over the last year the crypto, and greater Web3 industry has seen a rollercoaster of loss, growth and innovation - and the data shows.
In the latest industry report from cryptocurrency exchange Huobi, "Global Crypto Industry Overview and Trends", trends and stats were pulled from the industry on everything from nonfungible tokens (NFTs) and the metaverse, to centralized exchange (CEX) usage and regulations.
Despite the turmoil of major events like the FTX collapse, LUNA’s implosion, and 3AC bankruptcy, the industry still accounted for approximately 320 million crypto users worldwide in the last year.
While the total amount of investment and financing in the “primary market” surpassed $27.7 billion, the total amount of market capitalization of crypto assets shrank by over $2.2 trillion.
The report analyzed five of the most googled search terms pertaining to the Web3 industry, which include: “cryptocurrency”, “DeFi”, “GameFi”, “NFT” and “BTC”. Of these terms, searches for NFTs dominated worldwide.
According to the report NFTs show dominance because:
This last year has seen the focus of NFTs switch from hyped drops to projects with last utility, such as solving diamond certification fraud. Some projects are even targeting the next generation of users with “family-friendly” NFTs.
As for the other search terms, "BTC", "DeFi" and "Cryptocurrency" were most frequently searched in emerging markets including in South America, South Africa and the Middle East.
Another key finding related to CEX activity, which reportedly has been on a steady decline over the last year.
However there were certain countries which had significant shares of traffic to CEXs. The United States (U.S.) took the top spot with nearly 10% of all CEX traffic followed
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