Chainalysis predicts a growing NFT market

Chainalysis, a player in the analysis of cryptocurrency blockchains, presents a number of expectations for the cryptocurrency market for the coming year. They predict further growth in the NFT (Non Fungible Token) billing market, where the trends we have seen in the past year are developing further.

The most important expectations are as follows:

The NFT market will develop further next year.

By 2021, the NFT market has grown very fast. Recent NFT research conducted by Chainalysis has revealed at least $ 26.9 billion in NFT marketplaces and collections. This trend is global and no specific region has attracted more than 40% of the total number of online visitors since March last year. Ethan McMahon, an economist at Chainalysis, expects the following for next year: “The NFT market will continue to evolve as more and more artists, designers, celebrities and even video game makers launch collections for their fans along with many other use cases that In addition, we saw in 2021 that, especially during the minting process, only a small proportion of investors actually make a profit. McMahon: “We anticipate that other investment techniques, such as the use of bots during minting events, will continue to evolve in 2022, possibly with the exception of the less advanced users. “

The company building the first crypto-app store will be the winner of 2022

As with many other digital trends, the pandemic has given the cryptocurrency market an extra boost. According to Philip Gradwell, chief economist at Chainalysis, this has also led to another target group: “With the omikron variant, it seems that we are entering a ‘risk-off’ cycle, but in a world where the economy has been complete. transformed by an unprecedented monetary expansion since March 2020. Therefore, the demand for cryptocurrencies from risk-sensitive investors is likely to decline, while the number of investors who believe we are in a new monetary paradigm and therefore believe that new monetary technology has a good the chance will increase. “According to Gradwell, retail investors are missing out on this mix, but are expected to be even more cautious in 2022:” Many have made gains on their assets but may now face economic pressure from the new measures, inflation and the cessation of support. programs from, among others, the government. The temptation to make money from these gains will be great. “

Currently, no platform has been developed that brings customers and crypto vendors together. Philip Gradwell saw this in 2021: “DeFi and NFTs have shown that more can be done with crypto than just investing. An important lesson from Web 2.0 was that consumers love platforms and I do not think that will change. for Web 3.0. However, no crypto platform has yet been developed to bring customers and vendors together. ” He therefore expects a race between different companies in 2022 over who will be the first to launch a crypto-app store.

Cryptocurrency is becoming crucial to detecting crime

A well-known view of cryptocurrency is that it is anonymous and untraceable. According to Gurvais Grigg, Global Public Sector Chief Technology Officer at Chainalysis, nothing could be further from the truth: “In fact, it runs on public, unchanging blockchain ledgers, making it even more transparent than most other forms of value transfer. This combined with it rapidly changing economic landscape and the development of digital investigative capabilities mean that cryptocurrency is fast becoming an indispensable tool in the fight against crime. ” Criminal activity will unfortunately not decline, but as the cryptocurrency market continues to evolve globally, law enforcement training improves and cyber security investments increase, next year will prove to be invaluable cryptocurrency for tracking down criminals.

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