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Top Trends in the Crypto World in 2022

26 July 2022 11:00, UTC

This spring, we were in for a sharp fall in the exchange rate of most currencies and a long lull in the market. However, there is now a trend towards recovery. New financial instruments, the development of crypto communities, NFTs, and gaming cryptocurrencies - significant changes are coming to the industry soon.

Even amid all these dynamic changes, during which many investors panicked, there are plenty of opportunities to earn money. In addition, it is worth remembering that the market is cyclical, so lower cryptocurrency prices are not a reason for depression but rather a chance to buy assets with a huge discount.

The scope of using cryptocurrencies is huge, and if you think it’s not for you, you might be totally wrong. Isn't it tempting to pay for a trip, play anonymously in an online casino, or even buy a house with Bitcoin? Crypto payments are rapidly gaining popularity, and some experts even predict it to replace fiat currencies shortly. We doubt it will happen quickly, but who knows what the future has prepared?

But still, it’s worth noting that many innovations are waiting for us now, so let's look at some current trends in cryptocurrencies.

Increase in NFT Demand from Hollywood Celebrities & Sports Sector

Interest in NFT grows dramatically, and it seems that it won’t regress in the nearest future. In 2022, we already see numerous famous people using this method to interact with their audiences, hold exclusive events, and support charity and crowdfunding platforms. According to Forbes, this trend is going to change the world!

At the same time, sports fans actively use NFTs with their favorite athletes, but only some clubs have already created their collections. However, many teams have already understood this tool's power, so we can predict that new NFTs will appear soon.

The Mid-Range Market Is Probable to Collapse

Periodical market crashes are inevitable, and not all players are able to withstand them. And although it seems to be a problem, there are some positive things about it. The process will reduce the number of companies that would provoke more qualitative growth in the future.

More Convenient Adaptations for Users

While blockchain technologies gain insane popularity, the topic of NFTs and cryptocurrencies is still difficult to use. So, it's important to focus on usability since more and more people are involved in the activity. All trends are falling, and it's time to concentrate on learning. This is a great opportunity for beginners to familiarize themselves with theory and influence the field with basic knowledge, putting them into practice.

Ways to Minimize Risks When Investing in Crypto

Trading seems attractive to many people since they think it’s an easy and quick source of income, which is far from the case. The first pitfall users may face is that any government does not regulate this industry. Even though blockchain is safe and anonymous, you cannot be protected from fraudulent platforms and scam projects. So, which factors to consider when choosing coins to invest in:

  • Follow all news and updates about the project that interests you
  • Learn more about the history, reputation, and developers of the cryptocurrency
  • The age of the project: if it appeared several days ago, it would hardly bring you millions despite all the promises you may find
  • Behavior and community: if the coin has its “fans” who passionately believe in its success, it will most probably bring profits in the long run

Overall, investing is all about risks, so it’s important to diversify the portfolio. Searching for some novelties and exciting projects is a great idea since they can cause a real boom in the future. Check the list of top gaining cryptocurrencies on Binance, and maybe something will interest you. But ensure to leave some place for stablecoins since everything may happen.