What to expect in the cryptocurrency markets in 2022? What will happen with blockchain, Bitcoin and altcoin projects? What are the key predictions for the next year?
Where is the direction for bitcoin and altcoin projects?
1. Alan Konevsky. Alan is chief legal officer at PrimeBlock, a sustainable Bitcoin mining operation, infrastructure solutions provider, and member of the Bitcoin Mining Council with locations spread across North America. Alan says about the future of crypto:
We will see more countries adopt crypto as legal currency. We will also see central governments emerge and take their own currencies and put them on a blockchain. Central bank digital currencies do not offer competition from a store of value or inflation protection perspective because they are still subject to the same fiat currency and the same monetary policy manipulation by central banks. The government now has a lot of regulatory control over the payment, banking and monetary systems, regulating key intermediaries such as banks and other entities. This will directly affect us at the micro level.
2. Andre Neves of Zebedee. Andre is chief technology officer at Zebedee, which provides programmable payments and small transactions to power economies for virtual worlds. The striking views of the expert about Bitcoin and NFTs are as follows:
Fungable tokens completely captured the public imagination in 2021 and spearheaded the rise of the massive economic powerhouse, the play-to-win game. I think 2022 will see the concept evolve in new ways as people begin to place more value on open interoperability across platforms. With Bitcoin taking on a much larger role, the “get-rich-quick narrative” will lose much of its power in favor of more sustainable concepts.
3. Anton Bukov of 1inch Network. Anton is the co-founder of 1inch Network, a distributed network of decentralized protocols. He talks about traditional markets and DeFi like this:
We have seen a huge expansion in the spot market volume in the last two years. In 2022, I expect the decentralized derivatives market to receive more attention from market makers and other professional players. With the lack of crypto assets and derivatives liquidity in traditional markets, there will be an opportunity for DeFi altcoin projects to fill the gap.
4. Daniela Barbosa of the Hyperledger Foundation. Daniela is executive director of the Hyperledger Foundation and general manager of blockchain, health and identity at the Linux Foundation. Speaking more about adoption, Barbosa says:
2022 will be another fascinating year for enterprise blockchain. Companies that are the first to adopt the technology are starting to reap real benefits, and entire industries will move aggressively to integrate DLT and related technologies into their enterprise stacks. There will be even greater developments in emerging businesses and business models as companies around the world begin to tap into the potential of distributed and decentralized technologies.
Will cryptocurrency adoption become widespread?
5. Hatu Sheikh from DAO Maker. Hatu is the co-founder and chief security officer of DAO Maker. Regarding web3 and DeFi adoption, She says:
The position of cryptos as a store of value is almost unquestionable. However, as crypto seeks to renew the global financial system, we need to take into account the “medium of exchange” aspect of crypto. I believe 2022 will be the year that crypto will be used by individual users to securely invest and transact. DeFi will be a must watch area for 2022 as the construction of Web3 and the adoption of DeFi altcoin projects are progressing rapidly. Lending protocols and NFT markets will also see a huge stream of mass and growth. Few countries can follow El Salvador’s footsteps in recognizing cryptocurrencies as legal tender.
6. Jason Allegrante from Fireblocks. Jason is chief regulatory advisor and global compliance officer at Fireblocks, a digital asset custody, transfer and settlement platform. He talks about crypto adoption:
“I believe that in the next 12 months, one or more major tech companies (e.g. Tesla, Google, AirBnB, etc.) will announce plans to invest their own capital in crypto solutions backed by one of the major custodians.”
7. Jonathan Schemoul of Aleph.im. Jonathan is the CEO of Aleph.im. Here are his views on the cryptocurrency space:
With the mainstream growth we’ve already seen in 2021 and the entry of big companies like Facebook, Adidas and Nike into the space, bigger companies are likely to join in the new year. 2021 will be all about expansion, while 2022 will be about improving the technology we have and increasing cross-chain compatibility.
8. Martha Reyes of Bequant. Martha is head of research at Bequant, the cryptocurrency exchange and principal broker. She talks about crypto adoption and regulation:
Crypto adoption will continue to increase, especially in the corporate space. Greater regulatory clarity will also affect the pace of this adoption. In 2022, we may see federal regulation from the USA. If that happens, we should expect more countries to comply. Clarity is beneficial to the community and encourages other jurisdictions to be more friendly to crypto investors. 2021 was undoubtedly the year of NFT art, but we expect it to grow in music and particularly in gaming, supply chains and logistics. GameFi and gaming investment have accelerated in recent months, and their popularity and success seem to be growing rapidly. Expect this to increase in the coming years as more established studios and brands become involved and integrate NFTs into established series.
9. QuickSwap’s Sameep Singhania. Sameep is the founder of QuickSwap, a decentralized exchange on Polygon. Here are his views on the crypto space:
Well, I don’t have a crystal ball so I try not to guess too much, but now big institutions are coming as well, as popular altcoin UniSwap has decided to launch version 3.0 on Polygon in early 2022. I can’t say more about which ones, but let’s say I expect 2022 to be a blockbuster year.
10. Simon Peters of eToro. Simon is a crypto analyst at leading trading platform eToro.
While we could potentially see a bear market in 2022, more countries could make Bitcoin the official medium of exchange. As we contemplate the emergence of CBDCs and the wider use of stablecoins by households and businesses, the crypto landscape has a lot to offer. When the next iteration of the Internet (Web3 and Metaverse) goes into effect, we will naturally see more capital and user inflows into this space. With NFTs in particular, we can see the tokenization of real-world assets represented and traded on the blockchain.