The Covit Research Center under the domestic virtual asset exchange Covit (CEO Oh Se-jin) announced on the 5th that it has published a report predicting the virtual asset market in 2023.

This report marks the first year of the launch of the Kovit Research Center, and Jung Seok-moon, head of the research center, and three researchers each utilize their expertise to describe their prospects for the virtual asset market next year.

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The Kovit Research Center predicted next year’s virtual asset market trend as four aspects: ▲ rebounding virtual asset market capitalization (Director of Center Jung Seok-moon) ▲ expanding the incorporation of virtual asset institutions (Researcher Choi Yoon-young) ▲ enhancing reliability and creating value (Researcher Jung Joon-young) ▲ synergy of stablecoin, defy, and traditional financial institutions (Researcher Kim Min-seung).

First of all, Jung Seok-moon, head of the center, expected the market capitalization of virtual assets to rebound next year.

This year, the market capitalization of virtual assets, which was once close to $3 trillion, has now been reduced to $800 billion due to the Tera-Luna crisis, as well as Cefi (CeFi) companies such as Celsius, 3AC, and FTX.

However, Jung, head of the center, said, “Investment, research and development, and recruitment in the virtual asset industry are steadily increasing,” adding, “This can be seen as an improvement in industry fundamentals as more people understand the value of virtual assets in the strong market in 2021.”

In the meantime, Chung predicted that inflation figures will stabilize in the first half of next year due to the continued U.S. Fed tightening policy, leading to a recovery in demand for overall risky assets.