The crypto market was always highly volatile, however, the current conflict in Ukraine and sanctions on Russia have caused several crypto trends to accelerate. Since sanctions are still in place on Russia, its citizens are turning to crypto in order to protect their assets from being confiscated and the Ruble is in a downward spiral, and no one would like to hold the Ruble in a currency that is not able to be transacted globally. This has resulted in an increase in the demand for crypto and is driving up price and making governments think about how to regulate this currency. Despite this volatility however, the technology behind blockchain is seen as being highly innovative and has lots of potential significance it is still attractive to investors. In addition that cryptocurrencies are becoming popular as a method of payment, which could lead to greater price stability in the near future. A growing number of people view Bitcoin as a safe place of value as its use instances become more clear. Here are a few bitcoin trends that we’re likely to witness.
Wallet ownership is predicted to grow by 2022. The non-custodial wallets may be superior to the custodial ones.
With Custodial Wallets, you can be assured that the private keys are held by Custodial Wallet, the private keys are kept by a third-party, which means that the third party has total control over your funds and you just need to grant permission to transfer or receive payments. A non-custodial Blockchain wallet is one that lets you be your own bank. The users have complete control over their funds as well as the private keys that go with them. The usage of wallets is likely to grow in parallel due to the rise of cryptoassets. Investors are using more wallets. However, clients typically have their own wallets as well as the ones on exchanges.
Security will be a major trend in wallets and custody solutions in 2022.
This year , security will be a key aspect of the future of custody and wallet solutions driven by institutional investors that are still entering the market. Everyday news reports include another hack or scam, where cryptoassets are stolen or users lose keys to their wallets. This kind of situation can be avoided and investors can be at ease with the current technology.