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Key 2022 Crypto Trends That You Should Be Aware Of

Posted on July 18th, 2022 by RockItCoin

As cryptocurrency evolves year after year with growing interest and popularity, trends in its accessibility, user demographics, and investment opportunities are worth discussing. 

Here are some crypto trends forecasted to take place in 2022. 

Crypto May Become More Acceptable As A Method of Payment

While Bitcoin is an accepted form of payment for some businesses, keep an eye out for more businesses accepting other forms of cryptocurrency in the near future. This trend is especially relevant to online payments, and with more people buying and spending coins, the price has the potential to increase. Because crypto operates on a decentralized system, its value is partially determined by supply and demand. Cryptocurrency’s popularity and accessibility is predicted to continue rising in 2022.

More Blockchains Are Produced Leading To Possible Increase In Demand For Interoperability 

As more forms of cryptocurrencies and altcoins emerge and new blockchains are developed, the need for greater interoperability between blockchains is a trending challenge in 2022. Interoperability between decentralized blockchain ledgers may become important to allow digital assets to transfer from one blockchain to another. We may see an increase in demand for communications between blockchains: this increase in demand for interoperability has the potential to aid the productivity of the mining network by boosting the efficiency of transaction validation. 

Metaverse Boosts Demand For Crypto Games 

As gaming and blockchain gaming increase in popularity, we are likely to see play-to-earn gaming trends that evolve to support cryptocurrencies as forms of payment. It is common for players in virtual universes to trade and use NFTs. The meta environment operates without centralized banking systems, though security is a topic of discussion with applications collecting user data. Still, there is room for blockchain innovation and increased user security in these virtual spaces that foster cryptocurrencies. 

With virtual universes growing, people are beginning to spend more time in digital worlds where gaming and digital currencies come hand in hand. We may begin to see more gaming trends that include experiences monetized by cryptocurrencies. 

Increase in Users

With more companies allowing crypto as a form of payment, and trading and investing becoming more accessible, the amount of people trying and using crypto has grown. More than 10% of the population owns cryptocurrencies, and with the increase in attention from meme coins and the popularity of NFTs, 2022 is likely to see even more dramatic trends for new users. 

Older Demographics Using Crypto As Retirement Funds

Since its origin, crypto’s user demographics have been dominated by younger owners (aging 25 to 34 years old), but 2022 may see the number of older investors increase as 401(k) retirement accounts begin to allow cryptocurrencies. 

Cryptocurrency’s technology and usage have continuously evolved since its introduction in 2009. Throughout 2022, keep an eye on crypto’s accessibility as a form of payment, new altcoins growing in popularity, interoperability boosting communication between blockchains,  a greater demand for a crypto economy in the metaverse and virtual realities, an increase in crypto accounts, and a potential shift in cryptocurrency’s demographics. Trends that impact supply and demand, competition between coins, cost of mining, media, and government regulation are important to be aware of: since crypto is a decentralized form of finance, these are the factors that influence the value of most coins or tokens.