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

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An analyst who recommends high-quality digital assets

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Ryan Brown

Ryan Brown

An analyst who recommends high-quality digital assets

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