2021 was a momentous year for Cryptocurrencies. Despite multiple challenges such as Covid-19, inflation, lawsuits, and regulations throughout the year, the crypto town remained immune against all of them. Moreover, these difficulties brewed the digital transformation as numerous sectors such as DeFi, Gaming, NFTs and Metaverse continued to flourish though they are at their nascent stage of development.
Now the time is to shift our gears to the next level of upgrades, as we are left with just a couple of weeks to commence with 2022. Whilst one of the vital hot trends of 2021 was NFTs, now it is on the verge of a massive expansion at a brisk rate in 2022. Bitcoin and Ethereum on the other hand have seen an incredible breakthrough in terms of institutional adoption, and 2022 is going to be massive. Web 3.0, growth of stable coins, and data–driven protocols manifest to take hold of the control in the fast approaching the new year.
Top Cryptocurrency Trends 2022:
1. NFTs to Uprise At a Brisk Rate:
Non-Fungible Tokens have generated a completely new economy for the crypto space. Initially, it was considered as a passing craze, gradually NFT marketplaces like Opensea and Mintable, gaming platforms such as Axie Infinity, and artworks like CryptoPunks flourished. Now, these platforms include a steadfast cohort of creators, traders, and service providers.
A recent report from Messari confirms a total secondary sales of over $15 billion combined across different sectors such as gaming, PFPs (profile pics), sports, and collectibles. Whilst as the interoperability rises at its peak, Ethereum takes a lead.
2. Make a Way For Bitcoin and Ethereum Exchange Traded Fund:
The Crypto fraternity has been buoyantly looking forward to the Exchange Traded Funds ahead of the new year. Push for ETFs and many other traditional financial instruments would grow to invest in BTC and ETH. As Bitcoin adoption is at its peak, it would outstrip the market cap of Apple ($2.7 trillion), Google ($1.9 trillion), and Microsoft ($2.5 trillion) in the upcoming new year.
3. DeFi to Shift Gears For 5G!
DeFi is here to completely revolutionize traditional finance. Traders can lend, borrow, and earn high-class rewards than one can earn from traditional financial services. Defi will shift gears to 5G to ensure high-speed connectivity, annihilating the need of placing servers close to cryptocurrency exchanges. Notably, Aave, Terra, and Ramp would gain massive attention.
4. Stablecoin Ecosystem to Reduce Volatility Risk:
Stablecoins stand out in crypto towns since they facilitate safe haven from high volatile assets such as BTC and ETH. The stable coin with the largest market cap of $76.479 billion in USDT. The ecosystem further acts as an archway to DeFi services where users are allowed to purchase, lend, and earn massive rewards. Hence, there has been an expectation of massive growth in the stable coin’s ecosystem.
5. Data-driven protocols are expected to enter the mainstream :
The major risks involved in Big data would be divided into security and ethical issues. Innovative crypto projects such as The Graph and Ocean Protocol would quickly go mainstream.
Collectively, 2022 going to be massive in terms of developments. NFTs, ETFs, DeFi, and Stablecoins ecosystem lookout for a next-level evolution. As a whole, the crypto space is likely to enter the mainstream in the approaching new year.