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Cryptocurrency is likely to become a mainstream asset

By Dr.Dang March 22, 2022, 8:37 p.m.
Cryptocurrency is likely to become a mainstream asset

Cryptocurrency seems to be unstoppable. It's on the verge of becoming a mainstream asset as its market cap just went beyond $3 trillion in 2021. The U.S SEC just approved it's first Bitcoin ETF. Furthermore, the leading cryptocurrency as things stand now, Bitcoin, just reached an all-time high of $68,721.

Cryptocurrency is likely to become a mainstream asset

Bitcoin only had a market capitalization of roughly 2.8% of gold's three years ago. In 2021, the coin is by far the best performing crypto asset. Bitcoin's digital gold narrative has found a receptive audience because of its impossible rise. The coin however still trades erratically. This makes a very poor choice for someone who wants to trade and still have a peaceful sleep at night.

"The digital asset class garnered the most interest from many stakeholders in 2021, including investors, developers, institutions, central banks, and, most crucially, governments. As the world prepares for Web 3.0, 2021 will be remembered as the year when crypto truly took off, gaining public acceptance and upending everyone's perception of money," Co-Founder & CEO at CoinDCX, said.

Ethereum

Now, Bitcoin is big, but Ethereum just went a notch higher in 2021. Ether has gone up with over 443% in the just ended year outdoing many of its competitors. Ethereum is a versatile platform that can handle almost any type of transaction.

"Ethereum is not as widely known as Bitcoin, but it should be. Currently, Ethereum is the second-largest cryptocurrency, and its gains have been outpacing Bitcoin's. If current trajectories continue, Ethereum may overtake Bitcoin as the most valuable cryptocurrency sometime in 2022. Investors, keep your eyes open," An expert said.

NTFs

Another thing which took the world by storm at the end of 2021 is NFTs. This is however just an indicator of what we should expect in 2022. Former Silk Road admin, Ross Ulbricht, made headlines when he started an NFT campaign. But do we really know who this guy is? Well, Ross Ulbricht played a very big role in the development of cryptocurrency.

And now that he's making headlines even from a prison cell, we know he's definitely going to do it for NFT. NFT is going to be a topic of discussion in 2022.

"Everything up to now has been about digital-only NFTs, but the next phase of NFTs and area of growth we are seeing is major brands looking to merge the physical and digital worlds," Says experts.

"Owning a rare or valuable item in real life is cool, but being able to verify ownership in front of millions of digital followers and admirers with a digitally backed version, is where we're heading.," They added.

What to expect

One of the major developments in 2021 was the acceptance of crypto as a store of value assets. And even traditional institutions accepting and offering crypto services to their clients is a major milestone. This is the start of large financial institutions venturing into crypto. We expect to see large masses in 2022 heading that same direction.

Let's also expect significant growth in public knowledge and education of Bitcoin. There's been an increased interest in Cryptocurrency especially among the billionaires. There's even a good chance that most countries will create their own digital coins in 2022.

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