What’s In Store For 2022- Crypto Predictions From DriveWealth

News, Opinion | December 20, 2021 By:

With the Coinbase hack, Dogecoin hitting its 8th birthday, the Bitcoin crash, and now with the addition of NFTs and ETFs becoming more popular and readily available, 2021 was a quite a year. Now everyone is asking, what does 2022 have in store?

Below are crypto predictions from Raakhee Miller, chief product officer of DriveWealth.

  1. Digital wallets will increase tenfold. As people become more familiar and crypto-literate, I expect the use of cryptocurrencies for consumers to increase over the next 12 months. As part of that adoption, digital wallets will become a staple in investing as financial applications increasingly offer digital currencies. With women currently controlling ~$10.9T in assets, and the expectation that they will control about $30T by 2030, we expect increased involvement from women in the crypto space — increasing from the current 7%.
  2. Crypto enterprise will rise globally. As more enterprises and startups offering crypto and bitcoin solutions emerge across the globe, I expect that many of these companies will reach unicorn status. The use of digital assets is more common in Asia, a trend that I see growing in the U.S. The shift from east to west shows that while the U.S. has not adopted crypto as a currency yet, parts of the world have already started to embrace it as a more mainstream means of transacting. In terms of regulation, Asian regulators have been more proactive with engaging with the industry to establish guidelines that protect consumers. I anticipate that the U.S. and Europe will follow suit and provide stronger guidelines as digital adoption grows.
  3. NFTs will move away from current applications in digital art and entertainment to the real world assets and ownership rights. I envision seeing NFTs in real world applications, including tying them to art work, houses, land, and deeds for example. Another evolution of NFTs is to tie them to certifications, degrees, medical records, and qualifications that can be used for personal identification management, as all the information could be traced back to the owner and work as a form of SSID. In both use cases, NFTs will move away from the traditional model to an everyday process of verifying proper ownership, validation, and a history of ownership through blockchain technology.
  4. ETF based bitcoin. I think we will see an ETF based directly on bitcoin approved by the SEC by the end of 2022.