Prediction 1: Play to win will be more popular, thrusting cryptocurrency ahead to become mainstream
The global gaming industry continues to thrive in 2021 amid the pandemic, attracting over 2.6 billion users since September 2021.
This provides a fertile landscape for developers to implement cryptocurrency into their games.
Games adopting cryptocurrency asa mode of payment or in-game currency such as MIR4 and Axie Infinity have thrived since their launch. Then there are games adopting the metaverse concept which have sprung up in the fourth quarter of 2021 as well, such as the Sandbox Metaverse Alpha launch which saw their SAND coins surging since the announcement.
Prediction 2: Ethereum will take on greater importance for DeFi growth in 2022
With Ethereum shifting its fundamentals and the way it’s traded with its progression into 2.0, sources are pointing that Ethereum could be on track to overtake Bitcoin as the world’s most valuable cryptocurrency . According to a report, Ether is currently worth in aggregate just shy of US$500 billion (£363 billion). That’s still slightly less than half that of the biggest cryptocurrency, Bitcoin.
Looking at recent developments, Ethereum price has added 35% over the last month, compared to bitcoin’s 25% rise. Now, as traders and investors cheer the combined crypto market topping $3 trillion for the first time, many believe that Ethereum will overtake Bitcoin as the next most valuable cryptocurrency.
Prediction 3: Crypto savings account will become the norm
Thanks to Ethereum 2.0’s proof-of-stake campaign and institution investors’ interest in internet bonds, the staking industry is now an $18 billion behemoth. For the next generation of Ethereum, staking is important as the network is going through a fundamental infrastructure change from Proof of Work to Proof of Stake. This is also in-line with what two senior analysts at JPMorgan said this year, that staking will gain traction as a source of revenue for both institutional and retail investors.
*Note: SG team to share internal data on Luno Savings Wallet adoption rate as supporting data point for this prediction
Prediction 4: More use cases will come out of crypto
Background: 2021 was the year of NFTs. As of 15 November 2021, the aggregated sales value over 30 days amounted to roughly USD162 million dollars. With blockchain technologies to create art that can never be forged, there is little doubt that the NFT space is increasing investor interest and projects. Ethereum, for example, popularised smart contracts and IOTA helped machines trade services and resources with each other.
Seeing the potential that blockchain technologies can bring to make our digital identities more safe, secure, and easier to manage, it is evident that we can find other use cases with crypto to build a more sustainable world.
Prediction 5: Solano is the best cryptocurrency to buy before 2022
Background: 2021 has been one of the most instrumental and eventful years in the blockchain and cryptocurrency industry. With rise and fall of various popular coins such as Bitcoins and Ethereum, to the suddenly rally of new coins such as Dogecoins and Shiba Inu to name a few, 2021 has seen several different themes have come in waves in the crypto world, and choosing the right coin to be part of investors’ portfolio is key to help bolster their earnings in the coming year.