By Joe Megan
The year 2021 has been generally good for the crypto market, as well as the stock and commodity markets. The pandemic, the soft monetary policy of the world’s leading central banks, high inflation, the energy crisis, the supply chain disruption, and other factors did not scare investors.
For the crypto market, 2021 was the real breakthrough:
- Thanks to the new growth cycle, several areas have emerged and are successfully developing: NFT, meta-universes, and various DeFi protocols.
- There have been important upgrades that have improved transaction processing speeds and lowered fees.
- Many countries have approved relatively loyal regulation of cryptocurrencies, and in El Salvador bitcoin was recognized as an official payment currency on a par with the dollar.
We summed up the year in the cryptocurrency sector and asked experts what to expect from investors in the next year.
What’s the point of DeFi
DeFi is another hype financial instrument in 2021, which are services and applications created on the blockchain. Their main purpose is to replace the technologies of the existing financial system with open-source protocols, thus becoming an alternative to the banking sector. With DeFi, many people are able to take out decentralized loans and receive passive income from crypto-assets.
Most DeFi projects run on the Ethereum blockchain, with Uniswap and Chainlink being the most popular examples.
In 2022, the positive growth and development trend of the crypto industry is likely to continue. As the pandemic is defeated, the economy will begin to grow even faster and the financial markets will stabilize, allowing the industry to grow more productively and calmly. Most likely, we will see new historical highs from bitcoin, a boom in metaclasses, and perhaps new directions such as those offered by Wellfield Technologies. At least, this trend will continue in the first half of the year, but what will happen in the second half, only time will tell.
Analysts recall how, in May 2021, investors were panicking selling crypto assets amid the beginning of bans by the PRC, while crypto kids, which have a huge number of coins, on the contrary, were buying them in anticipation of further growth. This is what analysts see as the main pattern of the cryptocurrency market, as well as the answer to what to expect for the three major cryptocurrencies (BTC, ETH, and BNB) in 2022.
What to expect from DeFi in 2022
We know for sure that at least Wellfield Technologies has big plans for this year. Its common shares and certain warrants have become available for trading on the TSX Venture Exchange on November 30, under the tickers WFLD and WLFD.WT, respectively. This was exciting news since at the time thousands of people were eagerly awaiting the launch of their MoneyClip app. With the official release right around the corner, the company starts to see amazing growth, and WFLD has become one of the most popular trading assets on TSX Exchange.
According to the official announcements, Wellfield is planning to make MoneyClip fully available in January of 2022, so we can expect it any day now.
