Especially in the bear market, some projects are taking advantage of the crypto lull to tackle new developments. These three crypto technologies could significantly shape the next year.

The year 2022 was quite the opposite of eventful for the crypto industry, as the market witnessed a number of crashes that shook investors. Despite the market’s high volatility, Polygon [MATIC] continued to improve its network and hit several milestones along the way.

NFT transactions on Ethereum have declined significantly, from 22% NFT dominance to 8.3% according to crypto analytics firm Glassnode. On the other hand, stablecoin transactions grew and took up the space originally conquered by NFTs. This declining interest from traders could affect the overall NFT market negatively.

Cryptocurrency miners in Russia appear to be unbothered by the ongoing crisis of crypto mining as the local demand for mining hardware has reportedly been on the surge in Q4 2022.

Nigel Green, CEO of the financial advisory firm deVere Group, has recently showcased optimism in the recovery of Bitcoin (BTC) and crypto markets, predicting that the current bear market is months away from coming to an end.

Crypto markets have historically been cyclical based on Bitcoin halving events. Bitcoin halvings happen every time 210,000 blocks are mined — roughly every four years. The last halvings occurred in 2012, 2016, and 2020.

Litecoin bucked the market downtrend, posting 19% gains over the past week to lead the top 100.

The Kraken founder says that the Bitcoin (BTC) halving, which will likely take place sometime in the first half of next year, could be the next bullish catalyst for crypto markets.