Predictions for Web 3.0 in 2022

Time:2022-01-08 Source: 895 views Trending Copy share

Predictions are a cool gift I don't want to have anyway. If anyone really has the ability to predict the future with 100% accuracy, it's definitely not me.

Sports games are hard to predict, but the crypto space is even harder to predict. A fast and steady moving space is a nightmare for anyone with poor risk management habits. One can easily fall from heaven to hell in seconds.

Whether there is a bull market in 2022, look back to 2021. Those big green candlesticks and wave after wave of bull market climaxes have the world focusing only on Bitcoin and altcoins. However, currently only about 10% of the world's population owns cryptocurrencies. What about the remaining 90%? I think 2022 will only be more, not less.

2021 has been a happy year with most people's investments paying off, and for those who have experimented with stocks in the short term, it's amazing to see money growing so quickly. No matter how diverse you think your portfolio is; in fact, you only invest in very few projects.

There have been many new cryptocurrency projects born in the past year. On average, more than 20 new cryptocurrency projects come online every day. Some of these are blue-chip projects with amazing technology. Last year was a year of explosive growth. The total market capitalization of cryptocurrencies has soared past trillions.

Year of the Tether

The biggest advantage Bitcoin has over fiat currencies is its limited supply. There will only be so many bitcoins forever; while many argue about this, it's a fact. By contrast, as long as the printers work and the world's supply of paper doesn't dry up, the amount of fiat currency in circulation increases.

However, the prevailing argument is that the price increase of Bitcoin and cryptocurrencies is being driven by Bitfinex’s Tether minting unchecked dollar-pegged stablecoins. There is over $72 billion worth of USDT in existence. Most of these have been minted in the past few years; during this period, the price of the cryptocurrency has soared. Strangely enough, the backing behind these bubble production - USDT - is unknown.

These events have caught the attention of analysts and regulators. Any well-meaning investor should also pay attention. With court cases and regulations pending, 2022 could be a tumultuous year for the entire Tether team.

Will Ethereum's competitors make changes?

Most Ethereum users now pay around $80 in gas to withdraw tokens from the staking pool. Initially, over $40 was paid to stake the tokens. Approving and exchanging them on Uniswap costs another $200. If you do the math; that's well over $300. After several months of staking tokens at 25% APR, users were only rewarded with tokens worth about $600.

Ethereum is by far the most innovative blockchain project, and other similar projects are struggling to catch up with the new development of smart contract blockchains. The success of Ethereum is getting better and better. The value of similar projects that seek to develop ways to reduce costs is rising rapidly.

The term "Ethereum killer" is as popular as ever. Will we see Ethereum lose its dominance in 2022? I predict not. With the popularity of layer 2 solutions and the imminent release of Ethereum 2.0, it is more likely that Ethereum will maintain its status and challenge Bitcoin’s alpha status. However, it is unlikely to be number one in the near future.

More new crypto projects

The crypto space is growing with each new project, and with each new concept, the scope of blockchain and cryptocurrency applications is also expanding, as evidenced by the rapid growth experienced since 2013, Because cryptocurrencies have become one of the notable economic innovations of the past 5 years.

The number of cryptocurrency projects has grown significantly since 2015, and the trend has continued since then. To date, the number of new cryptocurrency projects has been overwhelming, making it difficult to keep track of them, and the number will get even bigger over time. Creating and running cryptocurrency and blockchain projects has become very simple as technology continues to evolve. We may see an influx of brand new cryptocurrencies and blockchain projects this year. Perhaps many older projects will die.

El Salvador will move on

El Salvador is building a Bitcoin city. Can't say all is good, but amazing things have happened in this Central American country since they adopted Satoshi's technology. A school built with Bitcoin profits, now they plan to build an entire city with Bitcoin!

The world continues to pay attention to El Salvador's President Nayib and his team; they continue to write their names in history. It's hard to say what will happen in 2022, but I predict they will continue to make and complete big moves.

Several countries in Asia and Africa continue to crack down on cryptocurrencies and related activities. The fate of this technology is an uphill battle with central governments and systems. Elsewhere, cryptocurrencies are increasingly accepted. How tough will cryptocurrency be? More bans or more adoption? I would choose the latter

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