As we are slowly heading towards the end of another year, which has been characterized by the intense fluctuations of cryptocurrencies, and while the uncertainty caused in the international market about the pandemic, the economic recovery, and the possible impact of a new pandemic wave due to the Omicron mutation of the coronavirus, questions about the future are flooding the “gurus” of the digital currencies market.
Will this be the year of the sell-off? Will the upward rally continue with even greater intensity? Will a regulatory framework be imposed on the cryptocurrency market? Will the crypto “fad” expand to other investment fields?
These and many other questions are of great concern to investors and market “players”, with some of the leading cryptocurrency “gurus” trying to guess the developments and get one step ahead of events.
Sam Bankman-Fried – CEO, FTX
As FTX CEO Sam Bankman-Fried points out to the CNBC network, no major legislative intervention is expected to introduce a regulatory framework in the digital currency market as an initial response to the concerns that have been expressed from time to time.
However, the 29-year-old trader believes a coordinated effort to create a ”climate” around the enforcement of a regulatory framework is more likely in order to prepare the ground for possible legislation at a later date.
Regarding cryptocurrency movements, the FTX CEO is still bullish on Solana, which he sees as the best alternative to Ethereum, while giving several chances for the emergence of a new blockchain, which will have the capacity to host a million transactions per second.
Jeremy Allaire – CEO, Circle
From his side, Jeremy Allaire, head of Circle believes that the greater use of cryptos tied to either the dollar or other stable currencies will greatly benefit e-commerce companies, consumers, and financial institutions alike.
The CEO of the US company believes that the NFT “trend” will be adopted in the near future by a plethora of celebrities from all industries, and believes that DAOs will be the catalyst for major deals in the market, as they are heavily dependent on crowdfunding.
Regarding the biggest threat that could radically change the landscape, Allaire noted that “incoherent, rushed and inconsistent regulations that may be introduced as a legislative framework could blow it all up”.
John Wu – President, Ava Labs
John Wu, president of Ava Labs, in turn “predicts” the beginning of bitcoin’s retreat from its current leading position in the market, stressing however that the most popular cryptocurrency will continue to be a key element of interest for investors and financial institutions.
At the same time, Wu believes that new, alternative blockchains will enter the market as platforms for NFT creation, while he believes that the Big Tech industry will face a peculiar brain drain as software developers head towards the next-generation computer market.
Noah Perlman – COO, Gemini
Gemini’s Chief Operating Officer (COO) Noah Perlman is convinced that cryptocurrency payments will become the new normal in the near future, as he believes that the trend of crypto becoming mainstream will intensify even more in 2022.
Perlman believes that many companies without a clear technological direction will gradually move towards the new metaverse universe, such as sportswear companies Nike and Adidas, and predicts a radical reshaping of the map of people involved in cryptocurrencies, as it was previously seen as a field of engagement for younger investors.
Charles Cascarilla, CEO, Paxos
Finally, Charles Cascarilla, CEO of Paxos, is confident that many more important “players” in the fintech sector will enter the cryptocurrency market, and is extremely optimistic that this market will exceed even the most optimistic analysts’ estimates.
At the same time, he believes that a move to introduce a regulatory framework could be the beginning of the end for the market, and believes that the future is intertwined with stablecoins, which he expects to dominate the “digital” news during 2022.