What the cryptocurrency sector might look like in 2022?
Despite another week of sideways movement, there are (at least from the world of fundamental analysis) some very good news concerning all major protocols, starting with Bitcoin. We are witnessing more significant turning points, especially in the world of cryptocurrencies and the introduction of blockchain. But first things first. Let`s follow the list made according by market capitalization (published on Coinmarketrate.com).
For Bitcoin, it was a week of complete stagnation. At the time of writing, the price is identical to the one that was 7 days ago. Given the average market trend, this is a good sign, since everyone else, albeit by a small percentage, has lost. From the interest in American politics, which is very important (with Florida deciding to lead the revolution), to some very interesting data, we give here.
Lightning Network is a breakthrough that has already made BTC an ideal tool even for micropayments, growing both in the number of nodes and in the volumes that it can handle.
A slow week in terms of news – dominated by Arrow Glacier, which postponed, perhaps for the last time, increasing the complexity of the network. Despite the fact that the ecosystem works in silence, it continues to be a landmark for the world of decentralized finance. And all thanks to the work of l2 and sidechains such as MATIC. We believe that those who think that the Ether is dead are mistaken. The fact that it is being held at $4,000 with some ease is certainly a good sign.
There are many events happening in the Binance universe. Excellent understanding of investments in blockchain games, and the new update comes along with sustainable burns that reduce the supply of BNB. He has been one of the strongest in the last 7 days, and for many remains one of the leading candidates to stay on top.
Solana had a very difficult week. The token has lost the most of those at the top. This was provoked and aggravated by a technical problem (not the first, and not the last), which “flushed” the internal network into the toilet. However, we believe that even here the glass is half full, because SOL retains excellent price levels. Those who are looking for a cheaper way to the market now have no excuses.
There is also a lot of news in the world of NFT and games. The appearance of an official hashtag on Twitter is another sign that the cryptocurrency is becoming more popular.
A separate chapter for Cardano
Cardano deserves a separate conversation. The ADA cryptocurrency has been one of the weakest in recent weeks. This plunged into despair those who entered at the highest price levels.
But do not panic as everything is going “according to plan”. That is, the slow development of the Cardano ecosystem has always been its feature, not a problem of this ecosystem.
Cryptocurrency Speculators in the eyes of the public
What is happening, especially among politicians, at least in the opinion of many analysts, is simply uninteresting. Senator Elizabeth Warren’s rant accusing Bitcoin of the worst vices, although she relies on issues that can be objectively discussed and refuted, is simply ridiculous.
And yet, one of the most famous people in Italy who form public opinion has published a completely unfounded and misinforming tweet, again following the trend that is aimed at creating fear in any association with the world of cryptocurrencies. He even stated that no one knows anything about the Bitcoin algorithm.
The days when the crypt was accused of all mortal sins have already passed. As for the impact of cryptocurrencies on the environment, we have already discussed this topic more than once, and everyone understands perfectly well that this is a false problem, and which is being solved.
And it’s not true that nothing is known about the Bitcoin algorithm. As those who wanted to touch on this topic at least superficially know, the Bitcoin code is publicly available, and everyone can not only download it, but also check every line.
And against the background of all these events, CoinList presented a report based on a survey on how people see the crypto industry next year.
What might the cryptocurrency sector look like in 2022
More projects focused on video games, DeFi, but also NFT. Bitcoin worth $100,000+, and the rise of Solana as the main “killer of Ethereum”. This is what 2022 might look like, according to users of the CoinList platform.
Thanks to the survey, which was attended by about 5,000 users, the CoinList platform has compiled a sketch of the cryptocurrency market in 2022. Between public expectations and (ambitious) forecasts for major projects.
For those who are unfamiliar with the CoinList platform, it is one of the benchmarks in the field of cryptocurrency listing. Its feature is the offer of tokens of various projects before they appear on other exchanges. Projects such as Solana (SOL), Filecoin (FILE) and Flow (FLOW) were registered on CoinList long before their prices exploded.
The platform also offers trading in such large projects as Ethereum (ETH), Bitcoin (BTC) and Polkadot (DOT). Today, more than 5 million users are registered on CoinList who trust its secure solution.
And so, let’s see what users expect from 2022
Gambling and DeFi
To the question “What types of projects do CoinList users want to see more in 2022?
- Gaming: 20.7
- DeFi: 19.1
- NFT: 15,2
Blockchains of the first and second levels are also popular: 11.5% of CoinList users consider them a priority for 2022.
Gaming and DeFi
Focusing on the 20% who want more gaming projects on the platform in 2022, respondents have a strong opinion about blockchain games in 2022. Almost half of respondents prefer Axie Infinity (22.2%) or Gods Unchained, which is preferred by 27.9% of respondents. With 18.8% Undecided completes the rating of blockchain games in 2022.
According to the survey results, the majority of respondents believe that metaverse has the best opportunities for a Non-Fungible Token (NFT). More than 40.6% of respondents believe that the sector will be the main universe for using NFT. Another 37.7% believe that gambling will be the easiest place for NFT in 2022.
Bitcoin at the level of $ 100,000
Almost half of respondents (46.8%) believe that by the end of 2022 Bitcoin could be worth from $ 100 to $150,000. This seems more optimistic than most forecasting algorithms, which expect the BTC to cost around $80,000. Only 28% of respondents believe that within 12 months the value of the token will remain below 100,000. Conversely, almost 5% of respondents believe that the price of Bitcoin may exceed $ 200,000 by the end of 2022.
These very optimistic estimates echo initiatives such as the initiative of El Salvador to declare Bitcoin a legal tender. According to the large majority of respondents (87%), other countries may follow this initiative in 2022. Respondents also could not help but notice the active development of institutional investments in large crypto projects, led by Bitcoin. These two parameters remain the two most explanatory variables for the general public.
What about altcoins
If we focus on the main altcoins, the majority of respondents agree that Ethereum will be number one in 2022. I must say that currently the project weighs almost 5 times more than its main competitor – Binance Smart Chain.
The Solana project, on the other hand, still has a very high market value. To the question “Which blockchain will you interact with the most in 2022?”, users replied:
- Solana: 23.9
- Binance Smart Chain: 20,8
- Polkadot: 20.4
- Polygon: 10.9
- Avalanche: 10.6
This is followed by other blockchains, such as Cosmos (7.4%) and Terra (6.0%), but despite the recent entry into the top 10, Terra has not yet convinced the majority of users.
Which “Ethereum killer” deserves the most trust
More than half of users (55%) believe that Solana can become an altcoin that will approach the market value of Ethereum in 2022. Another 38% believe that Binance Smart Chain and its Binance Coin token will remain the leader among altcoins after Ethereum.
Other blockchains, such as Polkadot, may also benefit. The project and its famous parachains may in any case become one of the most used blockchains in 2022.
47.8% of respondents believe that they will interact with Polkadot. This indicator falls below 25% for Polygon and Avalanche projects and below 20% for Cosmos and Terra blockchains.