The crypto market is back at it, after a sluggish month. BTC has been trying to hit $50K, ETH is around $4K. In tandem with the market, other altcoins too have picked up. Ahead in the race are DOT, SHIB, MATIC, and ATOM.
As 2021 comes to an end, predictions are reigning in for 2022. Crypto.com, the world’s largest cryptocurrency exchange, is looking back on a historic year for digital assets and making predictions for the future.
The exchange’s research team expects increased crypto usage in 2022, led by one area in particular, in a vast paper released on the Crypto.com research page.
To begin, the exchange expects that by the end of 2022, the number of international crypto users will reach 1 billion.
Nations can’t ignore crypto
The research states that Nations can no longer afford to ignore the public’s growing interest in cryptocurrency. In many circumstances, we may anticipate a more favorable attitude toward the crypto industry:
It is anticipated that the developed countries will develop clear legal and tax systems for digital assets. Parallel to this, more countries with high inflation and declining currencies, such as El Salvador, may embrace cryptocurrencies as legal money.
Next, the platform forecasts that cryptos will become a mainstay in traditional financial portfolios.
Traditional banks and financial institutions such as Morgan Stanley, Citi, Goldman Sachs, JP Morgan, are looking to form partnerships with cryptocurrency exchanges to integrate cryptocurrency into their core services, such as payments, transfers, and investment.
Metaverse and NFTs – The next big thing!
The exchange’s research team believes that the acceleration of one crypto sector, in particular, the ever-expanding realm of non-fungible tokens (NFTs), blockchain games, and the metaverse, will help to drive broad crypto adoption.
GameFi/Play-to-earn studios are scrambling to add these aspects into their existing line-ups, with Earn to be one of the key vehicles for mass conversion to the crypto world.
Expectations are more as Web 2.0 tech giant Facebook, now Meta, peers into the metaverse and leverages it as a monetization platform.
As the metaverse evolves, NFT profile images will serve as a stepping stone between the metaverse and the actual world, the research says.