Crypto adoption trends: From adoption of Web 3.0 to DeFi 2.0, here's what to expect in 2022
2021 has been a defining year for cryptocurrencies in many ways. From surpassing $3 trillion in market cap to the adoption of Bitcoin as legal tender by a country (El Salvador), the year was nothing short of a dream run for this new asset class.
It was a year that helped cryptocurrencies become mainstream. The last month was not as favourable, with the crypto market mostly trading in the red. Some top cryptocurrencies took severe blows following the uncertainty associated with the Omicron variant of COVID-19. But experts are optimistic about adopting crypto as several blockchains offer valuable solutions that bolster throughput, processing speed and security. As the world preps up for Web 3.0, the third version of the internet, it is just a matter of time that crypto dominates and automates all transactions over the internet.
To put things in perspective, let us look at some key trends headed this way for 2022: 1. Next phase of Decentralised Finance or DeFi 2.0: The decentralised finance or DeFi space is expected to witness robust growth in the new year.
Innovations in liquidity solutions and automated market makers would generate lucrative yields on crypto investments. Experts believe that decentralised autonomous organisations (DAOs) – algorithms that autonomously make intelligent decisions, will carry the momentum and steer the crypto bandwagon. With the emergence of platforms like Olympus and forks like Wonderland backing their performance, the era of DeFi 2.0 is just around the corner. Decentralised finance, which grew to an $80 billion industry in 2021, is poised to explode 10-fold, veteran crypto investor and co-founder of DeFi platform Matthew Roszak told Business Insider.“Right now, we’re sitting at a DeFi
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