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- Crypto.com, a cryptocurrency exchange, has predicted that the number of current users is expected to become 1 billion, 5x of current users, 200 million by 2026.
- The Singapore-based crypto exchange says their prediction is based on their expectations that the world’s developed nations will finally initiate the legal and tax cryptocurrency frameworks.
- At last, in its final cryptocurrency prediction, Crypto.com said DAO, or Decentralised Autonomous Organisation, will even expand beyond the growth of crypto. In the Web3 world, they believe it will be a recognized way to execute governance protocol..
A report published by Crypto.com has highlighted the key developments and also gave cryptocurrency predictions for 2022.
The cryptocurrency predictions were about many evolving fields. Nonetheless, the fascinating prediction was that the global crypto users could hit the mark of 1 billion by the end of 2022.
While most experts agree that there is rapid adoption of crypto, this still seems quite ambitious.
What could be the jurisdiction behind Crypto.com’s reasoning?
Does Crypto Have The Potential To Reach Active 1 billion Users By The End Of 2022?
In a tweet, Lark Davies, a YouTuber, posted a chart showing internet vs. crypto adoption rates. The chart showed a high degree of symmetry when superimposed; it is essential to keep in mind the timelines since the internet started way before cryptocurrency.
Analysts around the world predict that crypto users will hit the mark of 1 billion in the period of five years, based on knowledge about the adoption of the internet. Current crypto users are estimated to be around 200 million; it is expected to reach 5x of the current number by 2026.
To hit 1 billion crypto users by the end of 2022 may be a spirited call. However, according to the above chart, the current users’ mark should reach 400-500 million users.
However, to justify its stance, the exchange says 2022 will have an overall productive crypto year- as a result, the adoption would be towering.
The reason is that they are expecting developed nations to finally wake up and introduce explicit legal and tax cryptocurrency frameworks. They also believe rising inflation could also act as a catalyst in the fast adoption of virtual assets.
Other Cryptocurrency Predictions By The Exchange For 2022
Crypto.com also gives several other predictions for next year, all of which support the idea of increased adoption or advancing developments in the cryptocurrency sector.
Many other predictions by Crypto.com for the coming year, all of which reinforce the idea that there will be a significant development in the crypto world.
Taking into consideration that in 2021, the first (U.S) crypto was approved, the enterprises have witnessed the collaboration of traditional finance and cryptocurrency under the alternative asset class. Consecutively, the legacy firms will also strengthen their connections with crypto exchanges.
“Traditional banks and financial houses like Morgan Stanley, Citi, Goldman Sachs, JP Morgan, E&Y, Bank of America, and Credit Suisse are seeking partnerships with crypto exchanges to integrate crypto into their main services from payments to transfers and investment.”
Yet some are unsure about Web3 and the Metaverse, Crypto.com looks at this area, GameFi, NFTs, and Play-to-Earn, in particular, will continue to have a stellar performance.
Cross-chain DeFi protocols and Interoperability are all set to explode, ending Ethereum’s era of DeFi dominance.
The final prediction of the exchange stated that the DAO (Decentralized Autonomous Organizations) would be surpassing the growth of crypto. DAO, in fact, will become a widely acknowledged way to implement governance protocols in a Web3 world.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
