We've seen more people buy crypto for the first time, more merchants accepting crypto, and more ways people can buy and earn interest on their crypto assets. All eyes are on China, which has almost completed its digital yuan pilot scheme.Īccording to a Chainalysis report, by the end of Q2 2021, worldwide crypto adoption was up over 880% from the previous year. Unlike other cryptocurrencies, these would be backed by central banks and governments. Various governments are weighing the benefits of introducing their own CBDCs or govcoins, such as a digital dollar. Central bank digital currencies (CBDCs).There's been a lot of talk this year, which will likely convert into action in 2022.
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In addition to stablecoin rules, governments are grappling with how to increase investor protection without stifling the entire industry. However, regulators are concerned about how some of these coins are backed and whether they have enough reserves to support a run on a specific coin. Stablecoins are cryptos whose value is pegged to another commodity, such as gold or the U.S. Here are a few ways governments are likely to act: From China's moves to ban crypto entirely to El Salvador's acceptance of Bitcoin as legal tender, it is clear that governments can no longer ignore cryptocurrency. The spectre of increased crypto regulation worldwide has hung over the crypto market for a lot of this year. There'll be more regulation and government involvement
But as an investor, everything related to Web 3 should be on your radar, as this is a key space to watch. Get startedĮxisting companies are already looking for ways to stay relevant so we're unlikely to see the big players pushed out completely. Learn more and get started today with a special new member discount.
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In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market - Bitcoin, Dogecoin, and all the others. Instead, we'd control our own data and earn tokens for participation.
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Some believe it's a chance for people to break free of big corporations sitting in the middle of our web browsing and social media. It's connected to the gaming and metaverses above, but has wider implications.Īnd, like metaverses, it isn't yet clear how Web 3 will pan out. Web 3 is the next generation of the internet - a decentralized space where people get rewarded for sharing their time, building communities, or posting messages. But since cryptocurrencies are the most likely form of payment in the metaverse, we can expect crypto to be part of this evolution. It isn't yet clear what shape these virtual worlds will take - particularly whether they'll be decentralized, or whether corporations will dominate the space. Play-to-earn games mean people can earn tokens in-game that they can swap on a cryptocurrency exchange for hard cash.įacebook's decision to rebrand as Meta put virtual worlds into the spotlight, even though metaverses have been gaining steam for a while. This, combined with improved graphics and gameplay, created a surge in demand for crypto games. Axie Infinity (AXS) led the way as it pioneered the concept of play-to-earn games. Gaming and the metaverse will continue to growīlockchain gaming came into its own in 2021. So, what's in store for 2022? Let’s take a look at six crypto trends to keep an eye on. The non-fungible token (NFT) and decentralized finance sectors are both booming, and a number of top cryptocurrencies saw gains of over 5,000%. only bought in this year, according to research by Grayscale Investments. Almost half the people who own Bitcoin (BTC) in the U.S. Check out The Ascent's cryptocurrency apps for 2022Ģ021 was an extraordinary year for cryptocurrencies.
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