It’s estimated that over 81 million people globally currently own Bitcoin.
Since its invention crypto has grown incredibly quickly, and more people are investing every day. With this growth comes new changes and advancements which have an effect on the market and everyone involved. The best way to succeed in the world of crypto is to have a good understanding of everything that’s happening.
For five of the biggest cryptocurrency trends in 2022, keep reading.
- Bitcoin Is Still King
Bitcoin was the first-ever cryptocurrency, and it’s always been one of the top cryptocurrency trends. As others have emerged, people have gained interest in these alternatives. Cryptos like Solana and Etherium have done very well, but Bitcoin is still on top.
The state of Bitcoin has changed a lot over the years with the value fluctuating greatly. The fact remains that if you want to buy crypto Bitcoin is still one of the best options.
- Cross-Blockchain Bridges
When you purchase crypto there are many different blockchains available. These blockchains operate separately, which can be an issue if people want to transfer their funds from one crypto to another.
Multiple cross-blockchain bridges have been developed, which allow people to transfer crypto from one chain to another. Most of these connect to the Ethereum network, and as their use of them grows it’s likely more bridges will be created.
- DeFi and Liquidity
DeFi uses automated/smart protocols to provide financial services to users on the blockchain. This allows people to trade, lend, and invest in crypto and has grown massively in use over the last couple of years.
Several protocols have been made very recently such as Tokemark and Fei Protocol x Ondo Finance which are ideal for short-term liquidity and long-term liquidity respectively. Development is also ongoing to create DeFi2.
- NFTs
NFTs have exploded in the last few years, and they don’t seem to be slowing down any time soon. Several projects launched with NFTs selling for hundreds of dollars which are now selling for tens (and even hundreds) of thousands.
Many NFT projects have expanded in several ways, such as developing their own tokens. The Bored Ape Yacht Club recently airdropped their ApeCoin tokens to holders of their NFTs, effectively giving people hundreds of thousands of dollars overnight. You can also buy ApeCoin as you would any other crypto from various online exchanges.
Many big companies have even launched their own projects, and some NFTs give holders access to impressive utilities such as passive income, invites to events, and access to various services.
- Regulation
When cryptocurrencies first came about they were largely ignored, but the rapid growth over the last decade has resulted in many institutional investors gaining interest.
With all of the 2022 cryptocurrency trends, there is a lot of speculation about how governments might try to get involved and how they’ll regulate crypto. This could lead to a much wider adaption of crypto, but could also bring about certain limitations which a lot of current investors are concerned about.
Future Cryptocurrency Trends
The use of crypto will keep growing as these cryptocurrency trends continue. With new technologies and more people investing in crypto, there’s a lot of potential for further growth.
Regulation could bring about many changes, some good and some bad. It’s yet to be seen how things will change if regulation comes into place.
For more finance articles check out some of our other blog posts.
The post 5 Cryptocurrency Trends That Are Taking Over in 2022 first appeared on Businessely.com.
