While 2021 was dominated by cryptocurrencies and other digital assets, 2022 was quite a painful reminder that the crypto industry is still in its infancy, reflected in the more than 50 percent correction in Major’s prices Cryptocurrencies since their 2021 highs.

A majority of the new crypto investors who entered the cryptocurrency space last year are staring at deep losses and on the verge of losing faith in the future of this volatile asset class.

However, looking at finer details such as the various innovations introduced, new projects and the increasing participation of institutional investors, it seems reasonable to assume that the crypto ecosystem will only become obsolete for the next phase of growth.

Also read: World’s top banks have 0.01% exposure to cryptos: report

Cryptocurrencies are entering the mainstream

With nearly 600 crypto exchanges around the world serving more than 320 million crypto investors worldwide, cryptocurrencies today have found acceptance among a broad population base in major economies. according to to statistics

In fact, in countries like the United States, South Africa, Russia, Vietnam, and Nigeria, more than 10% of the population has invested in cryptocurrencies.

In addition, other digital assets such as non-fungible tokens (NFTs) are also widely used.

This is indicative of the larger trend of rising interest in crypto among the internet-savvy populace.

Institutional investors have also turned to popular cryptocurrencies such as e.g Bitcoin BTC/USD and ether ETH/USDBasing up on their investments since the beginning of the Covid19 pandemic.

As more crypto fans and investors move into the asset class, the current bearish sentiments could reverse and lead to the start of the next bull cycle in major cryptocurrencies.

Implications of upcoming regulations that will determine the future course of crypto

Despite countries like Singapore, Switzerland,…