The popularity of cryptocurrencies has continued to grow over the past year. Whether it's entire countries, companies, celebrities or new players in the sector, it seems like nearly everyone is jumping on board the phenomenon. And 2022 could prove pivotal for their institutionalization throughout our society.
In 2021, you may have hit the cryptocurrency jackpot, or not. You may have bet on Shiba Inu, Ethereum, Dogecoin or even Solana..or not. In any case, you inevitably heard a lot about cryptocurrencies and NFTs. For better or worse, cryptocurrencies are now definitively part of the very essence of economic markets. In 2021, one country, El Salvador, even made Bitcoin, the biggest cryptocurrency out there, one of the country's two official currencies, after which its president announced plans to build a city dedicated to the digital currency: Bitcoin City. The city would be designed as a genuine ecosystem around blockchain, including the creation of "cryptocurrency mining farms." Meanwhile various other governments have started to work on their own digital state-endorsed currency projects, such as Japan and China. The European Union isn't too far behind, although arriving a little later to the scene. Indeed, its project won't see the day before 2025 according to the European Central Bank.
In 2021, a multitude of projects involving cryptocurrencies emerged. There's the Klapcoin project, a cryptocurrency for investing in French cinema, the Ethiopian government's project with the Cardano network for modernizing its education system, plus a plan to allow students in Paraguay to pay for their university in Bitcoin. Digital currencies have allowed some young people to get a foot in the door when it comes to making investments, while enabling the affluent to boldly speculate with virtual real estate. In South Korea, a presidential candidate is even accepting cryptocurrency funding for his campaign.
But the cryptocurrency scene in 2021 wasn't all rosy. While Bitcoin peaked at just over $68,600, many projects with murkier credentials emerged. Digital currencies stamped with the names of hit series like "Squid Game" or "Mando" (for "The Mandalorian") took advantage of some investors' naivety, with those behind them making off with a lot of money. The first stablecoin Tether is meeting with the wrath of numerous experts who have doubts regarding the reality of its liquidity reserve, leasing the US government to launch an investigation. In the event that a lot of investors get into the dollar-indexed currency, there's a risk that it could result in a market collapse.
2022 could see the cryptocurrency market continue to evolve and be used more freely in a variety of ways. Ethereum will undergo its long-awaited transformation with the potential of changing the market in a big way and perhaps even dethroning Bitcoin? Changes in the market could also come from new, often young investors ready to start putting money into this promising market.
Cryptocurrencies related to the metaverse or video games could make an impact, as the number of uses expand exponentially. Or if the dollar continues to lose value, cryptocurrencies could become the safe haven of the year for investors. Major questions about NFTs continue to arise; while their potential seems to know no bounds, the actual practical uses of tokens continue to be somewhat experimental. Some companies may be able to offer new community experiences or even a concrete use for NFTs such as incentives for participation or investment in a project. Cryptocurrencies may then become central to these kinds of disruptive industries. But beware, the recent falls of cryptocurrencies at the beginning of this year could signal a downward trend of the market, due to somecountries' decisions to prohibit themas well as a wave of panic that several decisions by authorities to intervene in the next months, reinforcing the trend.
In any case, for 2022, one thing is sure, the story of cryptocurrency is only beginning to be written.
*he After Calendar**After the global shock of covid in 2020, the world was looking ahead to a calmer and more united post-covid reality. But ultimately it's a digital, hybrid existence that has taken the lead, where screens have become essential in all our activities, from education to work, our love lives and what we buy. This accelerated virtualization makes us nostalgic for pre-covid times, for an idealized vision of nature and the world. And this is how the metaverse and newstalgia have come to co-exist in our 2022 predictions, alongside [Netflix's influence on fashion](https://dailyup.etxstudio.com/articles/rn/en/news_2286224/fashion/the-after-calendar-tv-shows-are-the-new-style-setters), [our new friend bacteria](https://dailyup.etxstudio.com/articles/rn/en/news_2286281/nutrition/the-after-calendar-why-bacteria-will-be-everyones-best-friend-in-2022), [the post-ugly era](https://dailyup.etxstudio.com/articles/rn/en/news_2287858/fashion/the-after-calendar-2022-the-post-ugly-era-or-how-ugly-became-the-coveted-aesthetic), [the end of likes on social media](https://dailyup.etxstudio.com/articles/rn/en/news_2286423/technology/the-after-calendar-an-end-to-likes-in-2022), [the car's shift to electric](https://dailyup.etxstudio.com/articles/rn/en/news_2289586/cars/the-after-calendar-electric-cars-take-a-sharp-turn-towards-the-mainstream), and [22 words to use this year](https://dailyup.etxstudio.com/articles/rn/en/news_2286485/books/the-after-calendar-22-words-well-be-using-in-2022). Check out all the incoming trends in our 2022 After Calendar.*
