Many new people have been entering the crypto sector in the past several years. These newcomers may not always know what to look for regarding where this sector is headed or how it will be used in future years.
Here are some 2022 Crypto trends that you should watch out for:
2022 Crypto Trends
The institutional adoption of Bitcoin
An increase of the cryptocurrency market cap to $5 trillion is expected. Experts claim this will likely be one of the biggest 2022 Crypto trends, with the market increasing by more than five times its current value. The venture capital industry has also raised more than $6 billion for blockchain-related projects, despite the slump in the crypto market this year.
A major rise of Bitcoin (BTC) is predicted as well, with analysts seeing it increasing by threefold to about $22,000 per coin. As for volume, some see it doubling, while others expect tokenization of assets outside of finance to contribute greatly to transaction volume. If you’re a beginner and want to trade on the best platform, you must choose Crypto Genius.
Bitcoin goes green
The first bitcoin blockchain-based cryptocurrency to be backed by sustainable energy Bitcoin is the future of money, and more and more people are waking up to this fact. However, many skeptics bring up concerns about Bitcoin’s electricity use as a negative aspect of the currency. But what if it didn’t have to? What if there was a way for Bitcoin to exist on its terms without hurting the environment or contributing to global climate change in any way?
This is the future of Bitcoin: green and eco-friendly. There’s even talk about moving all of the world’s financial systems completely onto blockchain technology and cryptocurrency, which would make every transaction-every single one-much greener than it is today.
NFTs set to explode
Non-fungible tokens (NFTs) are digital assets that can be unique or non-unique. They are different from fungible tokens (FTs), which, when exchanged, are of equal worth to other FTs in the same number. Examples of NFTs would be art pieces, baseball cards, and antiques; they can also include real estate deeds and stocks. Shortly, there is a solid chance that NFTs will be huge in their growth and use.
Many major companies have already started to develop systems for blockchain-backed NFTs. For example, Wax has created a peer-to-peer marketplace where one can trade virtual assets without worrying about third parties getting involved or taking a cut from sales. Such assets could include gaming items or life experiences such as concert tickets.
Web 3.0 powered by NFTs and crypto
Web 3.0 is the web as it should be: decentralized and open, secure and private. It’s a reactive network that consists of many nodes (like you) connected to distributed databases (like Google Drive or iCloud). Web 3.0 takes the internet we know and makes it work like the world wide web should — peer-to-peer and user-driven.
The Bottom Line
In 2022, the global cryptocurrency market will be worth $7.02 billion, up from its current valuation of $0.20 billion. The sky is the limit now that cryptocurrencies are mainstream and getting attention left and right because of their potential value.
Now, to determine what this wild west landscape can look like in 2022, we need to consider both an analysis of why it’s growing so quickly now and what might happen during the next four years.
2022 Crypto Trends is a feature post