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January 21, 2022
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Coinbase Executive Makes Crypto Predictions for 2022, Says Solana (SOL), Avalanche (AVAX) and Other Layer-1s To Continue Growth

A high govt at US-based crypto alternate Coinbase is unveiling what he believes is in retailer for the crypto markets in 2022.

In a brand new firm blog post, chief product officer Surojit Chatterjee says that Ethereum (ETH) rivals Avalanche (AVAX) and Solana (SOL) ought to see important enchancment this 12 months and that new layer-1 (L1) options will emerge.

“As we welcome the following hundred million customers to crypto and Web3, scalability challenges for ETH are prone to develop…

Traction of Solana, Avalanche and different layer-1 chains reveals that we’ll dwell in a multi-chain world sooner or later. We’re additionally going to see newer L1 chains emerge that concentrate on particular use circumstances corresponding to gaming or social media.”

Chatterjee additionally says he believes decentralized finance (DeFi) protocols will start to embrace laws and that enormous establishments will start to play a much bigger position in DeFi due to it. He says that DeFi platforms welcoming laws together with know-your-customer (KYC) verification requirements would pull in hesitant blue-chip buyers.

“[Institutions] are still hesitant to participate in DeFi. Institutions want to confirm that they are only transacting with known counterparties that have completed a KYC process. Growth of regulated DeFi and on-chain KYC attestation will help institutions gain confidence in DeFi.”

The govt additionally predicts that distinguished manufacturers will comply with within the footsteps of Coca-Cola and Charmin by taking part within the metaverse and using non-fungible tokens (NFTs).

“We’re prone to see extra attention-grabbing model advertising initiatives utilizing NFTs. NFTs and the metaverse will turn out to be the brand new Instagram for manufacturers.

And identical to on Instagram, many manufacturers could begin as NFT native. We’ll additionally see many extra celebrities leaping within the bandwagon and utilizing NFTs to reinforce their private model.”

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Featured Image: Shutterstock/Eduard Muzhevskyi

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