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.
1. NFT becomes the most discussed crypto term worldwide
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:
“NFTs can be well integrated with various industries, such as sports, arts, entertainment, cultural creations, expanding the application scenarios on a larger scale.”
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.
2 . The United States dominates CEX usage and industry development
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 by South Korea (7.4%), Russia (6.1%), Turkey( 5.6%) and Japan (3.8%).
The U.S. also came in top for crypto market development maturity. This was based on four key indicators which included percentage of crypto users, share of CEX volume, share of DeFi volume and internet population index.
Related: Why the US is one of the most crypto-friendly countries in the world
Lastly, the U.S. has the largest total…
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