As the year 2021 draws to a close, cryptocurrencies are only a stone’s throw away from becoming a fully valid part of mainstream finance, some analysts say.
This year has been marked by huge events for cryptocurrencies:
El Salvador’s adoption of bitcoin as legal tender, China’s major crackdown on cryptocurrency mining, India’s threat to ban all private cryptocurrencies, the entry of large investors into the cryptocurrency game and Facebook’s launch of its metaverse. Overall, this period was marked by strong fluctuations and record prices.
Here are the main projections for the sector in 2022, according to industry experts who spoke to Business Insider :
- If countries take a hostile stance, adoption will be much slower, predicts Witek Radomski, co-founder of the Enjin blockchain platform.
- The price of ether will rise at a much faster rate than its rival, due to the shift to proof of stake, according to Tom Higgin, CEO of asset management platform Gold-I.
- Initial game offerings will become popular, according to Nick Saponaro, co-founder and CEO of the decentralized payments ecosystem Divi Project, and large organizations such as GameStop and Epic will start making offers at some point next year.
- Bitcoin will take over stocks in 2022, believes Mike McGlone, chief cryptocurrency analyst at Bloomberg Intelligence.
- Brandon Arvanaghi, CEO of startup Meow, predicts that a Fortune 500 company, the first in the name, will state that its official headquarters are on one of the competing metaavers.
- According to Justin Banon, co-founder of the decentralized Boson Protocol network, the metaverse will become the new interface through which people engage on the web and with each other.
- Most people will do part of their day-to-day work in the metaverse, according to Shane Molidor, chief revenue officer for digital asset finance platform AscendEx.
- There will be a battle between the metavers used by crypto-natives and those launched by games and companies like Meta, predicts Brock Pierce, president of the Bitcoin Foundation.
- Investors will begin to use bots extensively to make purchases during mint of NFT, which could exclude less sophisticated, thinks Ethan McMahon, economist at blockchain data platform Chainalysis.
- The market capitalization of crypto-economies will grow from a peak of $ 3 trillion in 2021 to more than $ 7.5 trillion, according to Rohit Talwar, CEO of the analysis and research firm Fast Future, and at the At least 25 nations will be using a central bank digital currency by the end of 2022, whether it is their own currency or a currency issued by another country, such as the Chinese digital yuan.
- According to Chris Stephens, head of fraud and security analysis at the Callsign identification platform, banks will look to cryptocurrency to identify fraud trends.
- According to Benjamin Whitby, who oversees regulatory affairs for the Qredo cross-chain protocol, the world’s first billion dollar hack is to be expected, as decentralized financial activity is booming.
Source From: Google News