Several Crypto Projects Which Might Influence Next Bull Market's Narratives

2022 started off pretty well for the cryptocurrency sector as prices were still climbing to record highs. At the time, ETH was trading just around $3900 and Bitcoin was trading about $44,000.

But as soon as the US Federal Reserve expressed an aggressive approach, things quickly changed. Since then, the FED has been steadily increasing rates of interest for three consecutive quarters, which has resulted in a downward trend in overall market values, particularly stock markets.

The majority of crypto stakeholders that uphold the foundations of privacy and decentralization have gone back to the drawing board to create better solutions for the next Web3 development age. There is a chance that uncertainty may continue for some time as 2023 approaches. Having said that, the most crucial issue is which cryptocurrency initiatives will prosper from all of this commotion.

Despite the fact that many Web3 initiatives have a compelling proposition, I anticipate that some concepts will succeed over others according to current trends. They consist of the metaverse, privacy solutions, decentralized exchanges, and solutions for interoperability. I spent some time exploring some of the Web3 initiatives in these markets and discovered a handful that might revolutionize their respective industries. The following initiatives, which crypto natives should keep an eye out for in 2023, are briefly highlighted:

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1. t3rn

The t3rn interoperable smart contract hosting platform is made to help developers of decentralized apps (DApps) overcome the long-standing problem of interoperability. At its heart, t3rn gives Web3 developers access to an open source repository and a fail-safe smart contract programming environment. More intriguingly, anybody may utilize the smart contracts that are kept in the registries, and programmers can choose to get paid whenever their code is run.

Despite being a young enterprise, t3rn has already reached a number of significant achievements, including a $1.3 million seed round and a recent $6.5 million significant sale under the direction of Polychain Capital. The team has a strong working connection with the renowned Web3 Foundation and has been awarded two grants from them in the previous three years. T3rn is establishing itself to become one of the top smart contract interoperability platforms in the future, a topic that is sure to receive a significant amount of focus in the upcoming DApp innovation stage.

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2. Uniswap

Ever since DeFi season of 2020, Uniswap has been the goto DEX with the highest volume of trading. The platform now holds a total value locked (TVL) of more than $3.5 billion. The current circumstances surrounding the demise of FTX, however, are what will likely push Uniswap's market position to unprecedented level. Crypto natives have started withdrawing cash away from centralized exchanges, with the Uniswap DEX being their preferred non-custodial option.

Even if it could take some time before Uniswap overtakes companies like Binance, it is impressive that it has survived the test of time and the downward market. Following a recently concluded series B fundraising where they were able to secure more than $160 million, the parent company of the project, Uniswap Labs, is today valued at more than $1.6 billion. Regardless, given the uncertainties surrounding centralized exchanges, Uniswap's value proposition as a non-custodial DEX has never been as strong as it is now.

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3. Calamari Network

With Calamari Network, a plug-and-play data protection protocol, which makes use of the underlying architecture to add privacy controls to Kusama's DeFi architecture, privacy is another important issue that is projected to significantly influence the environment in 2023. The project now has a leased slot with a lease expiration date of June 2023 and is the 7th and 41st winner of Kusama's auctions and crowdloans. Additionally, a number of powerful crypto venture capital firms, such as Polychain and Multicoin capital, have supported Calamari Network.

In terms of products, Calamari's MantaSwap DEX offers DEX services and a private transaction mechanism. Given the growing investigation of users in the cryptocurrency industry by authorities from numerous countries, a privacy solution that is greatly needed. These results suggest that as 2023 approaches, more and more individuals will progressively use privacy-focused DeFi systems.

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4. Fashion League

Fashion League is a cutting-edge Web3 platform created to improve the fashion sector's presence in the metaverse. Envision a virtual environment where players may partake in a variety of fashion-focused game types supported by NFT tech. Players can manage a virtual clothes shop, design virtual 3D looks, or make customized fashion NFTs in the Fashion metaverse. However, the ability to exchange goods through a decentralized market is more significant.

Theresia Le Battistini, a former retail and financial industry specialist and current blockchain advocate, launched this Web3 initiative. One of the key objectives, according to an interview with Battistini by TechBullion, is to offer a metaverse environment where both people and companies may showcase their digital goods. By 2030, Citi predicts that the metaverse may grow to be a $8 trillion business, and there is a good probability that one of the main drivers would be integration with the fashion sector.

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Conclusion

It was noted in the opening that it is still unclear exactly when the global turmoil would stop. Individuals who have been familiar with cryptocurrency for some time know that similar cycles have historically occurred and ended. And once the dust settles, projects with a core value offer finally have a chance to stand out. Likewise to the present bear cycle, the next stage of adoption will be driven by certain themes, therefore it's crucial to recognize them now.