Crypto is going great guns in the market. The escalation came last year, and now the total market cap for the digital currency has even exceeded 1.2 T USD. As per several estimates, the digital currency is expected to surge in the coming times. We have seen trends moving around crypto with time. However, you can find many more exciting trends to add to the crypto market, and a few will add on. You can get detailed trends and markets on platforms like quantum ai and gain insight into it. Now, we will check the details in the following paragraphs by looking at the crypto trends for the coming year:
Institutional Adoption of Crypto Ecosystem
In the coming years, we will have one trend of crypto revolving around the institutional adoption of crypto-based systems in the market. We have seen the companies and financial institutions being pessimistic about this system. However, with time, many global corporations are now entering the bandwagon of Bitcoin and crypto. Today, many companies are adding too much capital to their area. It has become very apparent in any asset management industry. 2020 ended with 15 B USD as the institutional assets are now coming under its garb allocated over the digital currency asset class. Today we see more giant corporations like PayPal, JP Morgan, Square Inc, and many more have taken the plunge in this domain, allowing them to gain a good return.
Leveraging the Defi Power
We have seen good growth in attention within the crypto community that has brought the advent of Defi or Decentralized applications. We have seen a good boost of searches for Defi that has gone beyond 5k per cent in the last few years. The idea engages the conventional financial transaction with Blockchain technology. All these transactions help the application of smart contracts. Unlike traditional transfer payments, you can easily avoid financial intermediaries. We now see Defi-based exchanges like DeXi have come into the picture, and this trend will likely stay for long.
One of the recent developments that remains interesting in the crypto domain is the NFTs. We have seen several search interests growing by 3.3 per cent in the past few years. These tokens only showcase digital claims that can get help in gaining some unique assets. These are found in both digital and physical forms. NFTs entered the mainstream in 2021, and it has remained a part of a larger crypto landscape. The searches for NFT have gone up by 2.3K per cent.
The Crypto Regulation Is Unavoidable
Many countries in the world seem to have embarked against crypto assets. However, nothing tangible came into the market except China declaring an open ban against cryptocurrencies. We saw ICO coming in 2017, which has increased an incredible buzz worldwide. Another example is Ripple, which has given a good growth in the market. In 2020, we saw the SEC bringing the case against Ripple, but nothing came out in the market. Ripple Labs fell under SEC investigation for a year, and we know the coin – XRP is in jeopardy. In a nutshell, we can say crypto regulations are unavoidable.
The DApps market
These are apps that run over the P2P network. Per reports, their searches have gone up to a whopping 120%. The upcoming market for these software programs is enormous. As per an estimate, we see the total app transaction volume has gone up by 271 B USD in 2020 alone, and similar is the figure in 2021. We see this app running over the ETH blockchain, which works on several Defi functionality types. Around 45% of the currency is in the market. We see metaverse style property now trading over the game that helps users enjoy the option to virtually sell the property in the real world with the correct address.
The next trend you can expect in the coming years is stablecoins. We see several coins like Tether having issues, but with the idea of the stablecoin, these issues are addressed in a big way. The total market value at the moment is 170 B USD, which is used. We now see them used in different places, and even the central banks are now trying to leverage these coins. They are using the same ideas to embark on the significant banks-based currencies.