2022 Crypto Industry Report

Huobi’s most recent industry report delves into the most commonly discussed crypto-related terms, countries with high industry activity levels, regulations, and more. Over the past year, the crypto and larger Web3 industries have experienced a rollercoaster of loss, growth, and innovation.

Trends and data from nonfungible tokens (NFTs) and the metaverse to centralized exchange (CEX) usage and regulations were taken from the industry for Huobi’s most recent industry report, Global Crypto Industry Overview and Trends. Despite the upheaval caused by major events such as the FTX collapse, Terra’s implosion, and 3AC’s bankruptcy, the industry still had approximately 320M crypto users worldwide in the previous year.

The market capitalization of all crypto assets decreased by more than $2.2T even though the total investment and financing in the “primary market” exceeded $27.7B. The report looked at five of the most popular Web3 search terms, including “cryptocurrency,” “DeFi,” “GameFi,” “NFT,” and “BTC.” Searches for NFTs were the most popular worldwide.

However, a sizable portion of traffic to CEXs came from a few particular nations. Nearly 10% of all CEX traffic came from the United States, which was followed by South Korea (7.4%), Russia (6.1%), Turkey (5.6%), and Japan (3.8%).

The United States also ranked first in terms of crypto market development maturity.

This was based on four key indicators: the percentage of crypto users, the share of CEX volume, the share of DeFi volume, and the internet population index. GameFi and the metaverse have both experienced significant gains in the past year.

According to reports, there is a lot of interest and investment in these two industries. Many prominent industry figures, including Animoca Brands CEO Yat Siu, have stated that GameFi will serve as the metaverse’s entry point.

According to Huobi’s report, GameFi and Metaverse outnumbered investments in categories such as tooling, trading, and lending for the second year in a row. Capital investment in these two categories has risen from $874M in 2021 to $2.41B in 2022. Finally, it is impossible to discuss 2022 without mentioning the slew of regulations aimed at the crypto industry in the last year.

Since the beginning of the year, over 42 sovereign countries have issued 105 “regulatory measures and guidance” for the crypto industry, according to the report.

According to the research, the most concentrated and intensive regulations are those from the United States, the European Union, and South Korea.

With 22 federal and state regulatory statutes covering everything from crypto transactions and regulatory guidance to court rulings and stablecoins, the United States has assumed the lead in regulating cryptos.

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