In 2021, the total global market cap of cryptocurrencies shot up from $800 billion to $3 trillion at its peak. Despite sustained dips at the beginning of the year, the market cap is still more than double what it was a year ago. Experts see the future of crypto branching off into several directions:
- NFTs
- The Metaverse/Gaming Crypto
- DeFi
NFTs and the Metaverse have exploded into the public consciousness with the celebrity endorsements and the rebrand of Facebook. DeFi, or decentralized finance, puts the groundwork to revolutionize finance behind the scenes. The goal of DeFi protocols is to take power and control away from existing financial institutions and banks and put it into the hands of the people.
The total value locked (TVL) across leading DeFi protocols reached an all-time high of $236 billion in October 2021, and PricewaterhouseCoopers (PwC) experts believe blockchain technologies as a whole can boost global GDP by $1.76 trillion by 2030. Some of the top-ranked DeFi assets have endured a tough start to 2022, including Terra (LUNA) and Fantom (FTM). A major new DeFi release that could be a game-changer for the crypto sphere is Seesaw Protocol (SSW).
Terra (LUNA) Leads the Way Despite Dips
Terra (LUNA) increased by a whopping 12,500% in 2021 and reached a new all-time high of $103.33 in December. However, in 2022, LUNA has dipped significantly. At the time of writing, it is over 50% down on its ATH and almost 20% down in the last 24 hours.
Terra (LUNA) is ranked 1st by the market cap of DeFi protocols on leading listing exchange CoinMarketCap. Its ecosystem is based on stable coins, and its native token, LUNA, is used to reduce or increase the supply. Its creators say that their network combines the worldwide usage of Fiat currencies with the security, speed, and flexibility of cryptocurrency.
Fantom (FTM) Tipped to Have a Breakout Year
Fantom (FTM) looks to combat prolonged speeds that are a problem on other networks such as Ethereum (ETH). Its creators claim that they have reduced transaction speed to under two seconds, and they aim to build a rival platform to Ethereum. Analysts predict it could achieve this in 2022, as crypto customers seek better rates and speeds for their transactions.
In 2021, Fantom (FTM) increased by over 20,000% from its January the 1st price to its peak of $3.48. It has not been immune to the general market downturn of this month and, over the last seven days, has seen a drop of more than 15%.
Seesaw Protocol (SSW) Presale Creating Buzz
Seesaw Protocol (SSW) has launched its presale and is already building a community of loyal holders. The SSW Telegram has over 20,000 members, and many more are investing in its unique presale opportunity. One of the most surefire ways to succeed in crypto is to invest in projects as early as possible, and presales are the earliest chance to get involved.
The utility of Seesaw Protocol (SSW) has the potential to be huge in the crypto space. It provides a genuinely multi-chain bridge between the Binance Smart Chain, Polygon, and Ethereum Networks. Its users will be able to use SSW to carry out cross-chain swaps from blockchain to blockchain. High fees and congested networks can be avoided and make the process of, for example, buying NFTs easier, cheaper, and quicker.
Enter Presale: https://presale.seesawprotocol.io/register
Website: https://seesawprotocol.io/
Telegram: https://t.me/SEESAWPROTOCOL
Twitter: https://twitter.com/SEESAWPROTOCOL
Instagram: https://www.instagram.com/seesaw.protocol
Source: https://www.cryptonewsz.com/seesaw-protocol-presale-shows-defi-remains-the-future-of-crypto-despite-dips-for-terra-and-fantom/