The Block Research released the 2023 Digital Asset Outlook, which focuses on major developments in 10 areas of the crypto industry in 2022 and trends to watch in 2023.

The report shows that all of the top ten cryptocurrencies by market capitalization have seen negative price returns as low as 81%; as the price of Bitcoin has fallen by more than half throughout 2022, many mining companies are facing increasing financial difficulties; the number of financing transactions increased by 18% year-on-year, and the NFT/gaming vertical attracted the most funds this year, reaching US$8.3 billion; employment in the digital asset industry soared 351% to 82,248 from 18,200 in 2019; in 2022, application-centric chains emerged, such as the Cosmos ecosystem, Avalanche subnets, and Polkadot's parallel chains; Optimistic rollups currently dominate Ethereum-based rollups, Celestia will be launched next year, and competition in the Rollup space is becoming increasingly fierce; the value locked in DeFi fell 74.6% from US$166 billion to US$42.1 billion; 2022 was a groundbreaking year for NFTs; The Block believes that Web3 games in 2023 will focus more on game launchers, wallets, and on-chain games; the Web3 metaverse wave will continue in 2023.