The current state of the crypto world and 7 future trends

The rise in the market value of cryptocurrencies and the beginning of the altcoin season

Bitcoin has repeatedly hit new highs

  • Bitcoin is listed on an exchange-traded fund (ETF), introducing additional investment tools for institutional and retail investors.
  • Institutional investors and listed companies entering the market buy Bitcoin as an asset to hedge against inflation (listed companies hold 0.95% of the total supply). Coinbase’s IPO and general acceptance in the crypto market.
  • Visa, Mastercard, and PayPal use encrypted currencies and support encrypted payments.
  • Increasing inflation.

The growth of DeFi market value and the rise of DEX coins

The multi-chain future of cryptocurrency

  • Projects like SushiSwap, Tether, bZx, etc. are entering the Avalanche ecosystem.
  • Many companies are preparing to publish on Polkadot.
  • Fantom’s ecosystem is growing and welcoming new platforms.

Binance Smart Chain is slowly cannibalizing the Ethereum market

  • The number of active wallets increased by 50% month-on-month.
  • The number of daily active wallets reached 105,000.
  • BNB, the native token of the network, has become the third largest cryptocurrency by market value and hit a record high of US$690.93.

Develop Ethereum scaling solutions

  • Projects such as Uniswap and Synthetix chose Optimism.
  • Popular NFTs like OpenSea and Decentraland have migrated to Polygon.
  • Balancer and Cuve are working on the ZK Rollup solution.
  • xDAI attracts smaller projects.

NFT market is booming

  • The largest proportion of NFT sales comes from collections and artworks such as Cryptopunk, Hashmasks, and Beeple.
  • Sports is the second largest category. Some popular projects are NBA Top Shot and Topps MLB.
  • Axie Infinity and other NFT games based on Enjin and Ultra platforms account for a large part of the sales.
  • Metaverse’s sales account for 8% of NFT’s total sales. Metaworld is another digital reality where people can play, work and buy goods.

Summary

--

--

--

An analyst who recommends high-quality digital assets

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Shifting our focus away from ICOs

Always love Cryptocurrencies

DAEX | A clearing solution for digital asset exchanges

Today we shall be talking about LCX.

Kevin O’Leary’s change of mind on Crypto, NFT, and Blockchain

Curious what people are saying about Crypto Piece? — Pt.01

Token-Curating the Truth

How to top up your BuzzCast account with cryptocurrency

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Ryan Brown

Ryan Brown

An analyst who recommends high-quality digital assets

More from Medium

WHAT IS WHITE PAPER? — IN CRYPTO PLATFORM?

Crypto Exchange Loses $80 Million in Major Attack

A Beginning Collector’s Guide to CryptoPunks

How to set up a Hardhat project for RSK Testnet