2023 is turning out to be a bright spot for crypto. After navigating through the rough waters of 2022, Bitcoin’s value has shot up by 79%. Along with this rise, we’re seeing a big drop in crypto crimes.
Key Highlights:
- Big Drop in Crypto Crime: Data from Chainanalysis is quite telling. It shows a hefty 65% drop in shady transactions from the year before. Also, there’s a 42% dip in money going to risky places. And there’s a 28% drop in money going to the more trusted spots.
- Scam Money Goes Down: In the past, scams pulled in a lot of money in the crypto world. But 2023 tells a different story. Scam money went down from $3.3 billion in 2022 to just above $1 billion. The exit of big scams like VidiLook and Chia Tai Tianqing played a part in this drop.
- Ransomware is Still a Problem: But not everything is rosy. Ransomware attacks are still causing headaches. By the middle of 2023, these attacks took away about $449.1 million. Some think that by the year’s end, this number might reach nearly $898.6 million. This could be one of the biggest hits from ransomware ever.
- Good News for Bitcoin: The market is buzzing with good vibes for Bitcoin. Its price is now holding strong above $30,000. More folks are jumping in. Right now, traders are holding 501,610 BTC in deals that are still open. This is up from 446,300 BTC in July. This uptick hints at a growing trust in Bitcoin’s future.
- Federal Reserve Steps In: The Federal Reserve is making moves too. They’ve rolled out a new plan for banks dealing with crypto. This plan nudges banks to team up with tech groups. The Federal Reserve is also pushing for more safety, especially when it comes to stablecoins.
Conclusion:
When we take a step back and look at 2023, the future of crypto seems bright. Both governments and big companies are joining hands to make things safer and to fend off the bad guys. With big players like the US central bank showing support and the market giving off positive vibes, it’s clear that crypto is on a path to grow even more in 2023 and beyond.
