Coinbase Exec Makes Crypto Predictions For Solana (SOL) And Avalanche (AVAX) | CryptoGazette
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The crypto predictions continue at the beginning of 2022. Check out the latest ones coming from Coinbase exec.
The online publication the Daily Hodl notes that an important executive at Coinbase revealed what he believes is in store for the crypto markets in 2022.
Ethereum competitors to see a massive surge in 2022
In a new company blog post, chief product officer Surojit Chatterjee says that Ethereum (ETH) competitors Avalanche (AVAX) and Solana (SOL) should see a massive boost this year and that new layer-1 (L1) solutions will emerge.
“As we welcome the next hundred million users to crypto and Web3, scalability challenges for ETH are likely to grow…”
He continued and said:
“Traction of Solana, Avalanche and other layer-1 chains shows that we’ll live in a multi-chain world in the future. We’re also going to see newer L1 chains emerge that focus on specific use cases such as gaming or social media.”
Chatterjee also says he believes DeFi protocols will begin to embrace regulations and that large institutions will begin to play a bigger role in DeFi because of it.
He says that DeFi platforms that are welcoming regulations along with KYC verification standards would pull in hesitant blue-chip investors.
“[Institutions] are still hesitant to participate in DeFi. Institutions want to confirm that they are only transacting with known counterparties that have completed a KYC process. Growth of regulated DeFi and on-chain KYC attestation will help institutions gain confidence in DeFi.”
He also made sure to address NFTs and said that they would like to see more interesting marketing initiatives that are using NFTs. He believes that these will become the new Instagram for brands.
Not too long ago, we were revealing that Coinbase praised Bitcoin and said that there’s nothing that can compete with it.
In a new blog post, the crypto exchange explained that Bitcoin is standing alone as a digital version of gold and other blockchains have gravitated towards becoming platforms for Dapps.
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