Full-Year Review 2022 & Themes for 2023 | Binance Research

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Full-Year Review 2022 & Themes for 2023 | Binance Research
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As we look ahead at opportunities for the crypto industry in 2023, it's also important to reflect and summarise on the year just gone. Our latest Binance Research report looks back on 2022 for the industry, and highlights key themes for the new year.

DOWNLOAD THE FULL REPORT HERE

L2s had a breakout year with strong inflows across 2022. TVL rose 119% across 2022. While USD-denominated TVL was down around 28%, this is significantly lower than the ~76% USD-denominated drawdown in the whole DeFi market and is arguably largely a factor of dropping crypto prices. The number of blockchain gaming projects has continued to rise but there are signs of slowing growth. Hype behind X-to-Earn games also fizzled out as user growth slowed down and the spotlight was cast on the quality of gameplay, as well as the tokenomics of X-to-Earn games. Interest in the metaverse has also waned.

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