The beginning of 2022 saw both the crypto market cap and the non-fungible token (NFT) market reaching incredibly healthy status. Crypto reached a strong $2.5 trillion in value, and NFTs peaked after 2021’s exponential growth.
As in previous crypto bull markets, new projects gained significant attention, which drove aggressive speculative investment; the Terra ecosystem being a prime example. Moreover, both retail and venture capitalists were heavily investing in what was fast becoming an overcrowded space. All this activity was taking place against a backdrop of a wider macroeconomic environment that felt unendingly strong, and with easy access to borrowing at low rates, the resulting frenzy into the high yield offerings seemed sensible as a source of wealth generation.
The four pros in crypto in 2022
1) The Ethereum Merge
In September, we witnessed the primary technological event of the year: The Ethereum Merge. The Ethereum blockchain successfully moved from its proof of work consensus layer to a proof of stake mechanism. With miners now unnecessary to validate the chain, its…
