Now 2022 is here, and predictions for the cryptocurrency industry are multiplying. What will be the next trend, what will be the next coin destined to explode?
2021 was a very important year for the world of cryptocurrencies, both for the records achieved in the quotes of many cryptocurrencies, starting with the two queens Bitcoin and Ethereum, and for the explosion of DeFi, NFTs, and the consequent game aimed at, “play to win“.
The second part of the year then saw the metaverse technological revolution come into play.
According to Henry Arslanian, head of PwC Global Crypto, 2022 will likely be the year the metaverse becomes mainstream. Cases like Decentraland and Sandbox, which grew by leaps and bounds in 2021, are expected to multiply in the next year, from wake up with Arslanian.
“Twenty years ago, every company had to suddenly present its e-commerce or online strategy. Now, every Fortune 500 company will need to think about their metaverse strategy. Expect consulting firms (like ours) to take care of it.”
Will 2022 be the year of Ethereum?
According to a large number of analysts, 2022 will probably be the year of the definitive consecration of the Ethereum, because, in the second half, the launch of the new version – ETH 2.0 – is expected to guarantee a lower transaction cost, moving to the model of, Proof of Participation.
Yenwen Feng, co-founder of the Perpetual Protocol decentralized derivatives trading platform, said:
“We believe that once Ethereum moves to Proof-of-Stake – PoS, the drop in transaction rates at Tier 1 will solidify Ethereum’s position as a benchmark for using DeFi applications.”
On the other hand, fierce competition from other blockchains like Solana, Avalanche and Cardano, which are more scalable and cheaper, now represents a viable alternative for developers to the more expensive Ethereum.
DeFi and NFT increasingly popular in 2022
The year 2021 saw the exponential growth of decentralized finance, with the TVL (total blocked value) growing 560% since the beginning of the year.
According to many experts, growth is expected to continue into 2022, given both the growth of stablecoins that are the foundation of DeFi.
All this, according to some experts, will also be favored by more precise regulation of the sector, which will favor operators, making DeFi increasingly popular with investors.
“A growth in regulatory-compliant DeFi services will also lead to a huge boom in institutional credit flows in the digital economy.”
This said Sidney Powell, co-founder of Maple Finance.
Matthew Gould, CEO of Unstoppable Domains, a leading NFT domain name platform, on the other hand, highlighted the extraordinary performance of stablecoins in 2021:
“Stablecoins had an extraordinary year in 2021, achieving a market capitalization of over $152 billion. I predict that by 2024, the total market capitalization of stablecoins will reach $1 trillion.”
The new game model, play to win
The convergence of NFT, DeFi and metaverse is fast moving us to Web 3.0.
And the most natural catalyst for this new ecosystem may be the gaming industry, better known by the term GameFi.
Cases like Axie Infinity, GameFi’s most popular game with over 2 million active users, are expected to multiply.
But the choice should reward other blockchains besides Ethereum, like Solana’s, which is also, for that reason, considered by many analysts to be one of the cryptocurrencies with the highest growth rates even for 2022.
It is no coincidence that, in December, Solana Ventures announced $150 million in investments in GameFi-related projects.