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Crypto market has seen mainstream attention and was able to garner mainstream audience with its soaring prices. The price of several digital assets has seen notable growth since the beginning of this year. Where Bitcoin, the flagship crypto asset saw new highs, several other altcoins have made its investors billionaire. Hence, as the year is now about to end, many are concerned whether the next year would be similarly bullish for the ecosystem. Indeed, many in the market have started to think what surprises are coming this new year and how will the market evolve.
Decentralized industry would continue to thrive
If we observe the performance of the decentralized finance (DeFi) sector since the last, we can say that the industry has grown considerably. At the beginning of the last year, the DeFi sector began with a total value locked (TVL) of about $10 billion. Since then the TVL has grown above the benchmark level of $100 billion.
However, there is yet no reason being identified that more money won’t be poured into the decentralized sector. Indeed, individuals will continue to realize the potential of the industry that can disrupt our traditional banks. Moreover, as DeFi’s most of the services are getting integrated into metaverse, users feel more safe to expect that the area will keep growing at least for another year and more.
More crypto firms would go public
This year, one of the early crypto start-ups, Coinbase went public. Indeed, the event was a great milestone as it was one of the first crypto firms that went public, and garnered notable funds. Following the crypto assets exchange, other firms like Gemini, Kraken, and BlockFi also showed interest to do the same. Although, for now it is difficult to speculate which firms will launch their initial public offering (IPO) the next year, but it is clear that several more will go public. Hence, the industry could obviously get some surprising news.
Cryptocurrency adoption among businesses
McDonald’s and StarBucks are already accepting Bitcoin in El Salvador. Some French delis have also started to accept a meme-coin, and saw notable growth in terms of customers. As the crypto market has gained notable attraction, it seems that more businesses will soon begin to accept more of these digital assets. Besides there are major firms like Visa and MasterCard who are looking to integrate support for crypto assets. According to experts, we will definitely be hearing some of these types of stories coming true in the next year.
Countries could follow El Salvador’s path
El Salvador has legalized Bitcoin in the nation, it is incredible to see that an entire nation is hodling the asset in its treasury. Following the steps of Nayib Bukele, the president of El Salvador, several other nations have also shown interest to adopt the leading crypto coin. Such nations include Panama, Paraguay, and Venezuela. However, there are also some nations like China, Turkey, and India who have made clear that they won’t be adopting BTC. Still, the overall outlook tells that many more nations would come ahead and legalize digital currency in the nation.
Market would turn to witness bearish sentiments
Although the most of the aforementioned are indicating bullish signs, still the market would turn bearish. According to analysts, the overall ebb and flow of the growing market is actually fairly well documented. Besides, we have also observed that BTC is even more regular due to its halving event that takes place every four year. However, following the chart of the asset, it is still clear that at some point in the next year we will witness a new ATH. Indeed, the overall sentiment still seems healthy and expected for the market.
Ultimately, we can conclude that the crypto ecosystem and its adoption will continue to expand over the next 12 months. But the investors should still do their own research before taking any further steps. Indeed, there is a lot interest , development and actual business are pouring in the industry. However, rather than worrying about new ATH, we should focus on new projects, partnerships, and assets that would be deployed in the next year.
