The year 2021 was significant for cryptocurrency. So what does cryptocurrency’s future hold? DeFi’s takeover of traditional finance, the rise of web3, and the rise of the metaverse are all key themes that have emerged.
Bitcoin has seen various new record-breaking rates, followed by massive drops due to increased investment from institutional investors and large corporations. Ethereum, the second most popular cryptocurrency, recently reached a new all-time high.
According to Dave Abner, head of global development at popular cryptocurrency exchange Gemini, 2021 was a “breakthrough” in many ways.. On the other hand, the market is still in its infancy and is constantly changing. This is a major reason why a massive drop can easily and quickly follow every Bitcoin high. In the future, it’s difficult to predict where things will go. To better understand the current market, experts are keeping an eye on issues like regulations and institutional adoption of crypto payments. VCs, crypto intelligence firms, and CEOs of some bigger crypto projects have shared their thoughts on what to expect from the crypto industry in the next few years.
Future of humankind
Reef CEO Denko Mancheski said, “The future of cryptocurrency is the future of humankind.” Reef Chain is a DeFi-compatible Ethereum Virtual Machine (EVM) blockchain.
Decentralization
Alephium CEO Cheng Wang believes that decentralization is the way of the future of cryptocurrency. With Alephium, the world’s first operational blockchain, Bitcoin’s tried-and-true core technology gains scalability, smart contracts drawn from Ethereum, and decentralized applications (dApps).
1 Billion Users
One million users and $10 trillion in on-chain value were Sino Global Capital’s previous goals. For digital asset and blockchain companies, Sino Global Capital offers consulting and advisory services.
NFT evolution
In the future, NFTs will be put to use in a new application- believes Venture Ventures founder Craig McColl. NFTs will evolve into their next application. We’ve already seen iNFTs and the dNFTs, which are AI-driven dynamic NFTs. These NFTs change their shape over time based on the inputs provided and evolve with data or AI.
Web3
DeFi, Ethereum and NFTs will have a massive role to play in the internet’s future, believed Ran Hammer, VP BizDev, Orbs. With Orbs, an EVM-based L1 platform like Ethereum and Binance SmartChain is easily integrated with the public blockchain infrastructure.
Metaverse
Tom Tirman, CEO, PARSIQ & IQ Labs, predicts that merchandisers, major gaming studios, and media conglomerates will be interested in the metaverse. An open-source DeFi framework, IQ Protocol is based on.
Volatility
Chris Brycki, the CEO and Founder of Stockspot believes that the volatility might stay for a while till they get leveled with the course of time . Stockspot is the most popular online investment adviser in Australia.
Conclusion
As the crypto space expands and exciting innovations emerge, it’s critical to keep your investment thesis up to date to cope with the changing scene. Although many people appear to be optimistic about the crypto market in 2022, caution is advised. None of the analysts considered what might happen in the event of a war, which, while understandable, calls into question many predictions made earlier this year.
