State of cryptocurrencies in 2030 – trends, regulatory landscape and more

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Different cryptocurrencies coin concept

The cryptocurrency landscape has evolved at a rapid pace since Bitcoin was released back in 2009. The last two years have arguably been one of the most exciting phases for the crypto ecosystem. Besides, crypto-based assets and associated products have garnered immense popularity in the past few years. Today, there is so much going on in the cryptocurrency world that it can get difficult to stay abreast with the latest ongoings. That said, one crypto trend we expect to continue in this decade is the influx of new cryptocurrencies. 

Did you know there were only 50 cryptocurrencies in 2013? That number rose to 500 the following year, setting the stage for exponential growth in the next few years. According to Statista, there are over 10,000 cryptocurrencies in circulation today [1]. Bizarre right?

There’s more. Around 8% of the U.S. population trades cryptocurrency [2]. Today’s consumers do not shy away from experimenting and testing new waters. This, along with a few other factors including higher disposable income and increasing awareness has led to a substantial rise in crypto investments. 

There is no doubt that the crypto wave is stronger than ever before. It is a good time to wonder where the crypto space is heading. Will cryptocurrencies replace fiat money by 2030 in a few countries? Which cryptocurrencies will become extinct by then? Continue reading to discover what the crypto world is expected to look like by 2030. 

In this article, we have predicted a few scenarios we are likely to see by the end of 2030. So put on your seatbelts and get ready to time travel to 2030. 

Future of cryptocurrencies – predictions and what to expect?

  • Popular cryptocurrencies in 2030

Cryptocurrencies Ethereum, Bitcoin, stacked next to each other

As seen above, cryptocurrencies are hot property in 2022 and becoming increasingly popular worldwide. However, when will this trend continue? Which cryptocurrencies will dominate in 2030? Although we can make a few safe guesses, it is hard to imagine which cryptocurrencies will see the light in 2030. But, we can always predict, right?

We predict that popular and relatively stable cryptocurrencies including Bitcoin, Ethereum, XRP, Cardano, and Tether to name a few will remain popular by the end of 2030. ApeCoin, Zcash, Cosmos, and Uniswap are expected to become extinct by then. 

  • The global cryptocurrency market to witness a three-fold growth by 2030

The blockchain space has witnessed immense development in recent years. Awareness about this cutting-edge technology is only growing worldwide, providing fertile grounds for the crypto market. The meme culture has caught up with the crypto world, especially due to significant interest pouring in from the Gen Z population. 

Social platforms such as Reddit have made words such as “stonks” and “diamond hands” popular. In addition, many Reddit threads have done their bit to inflate the prices of certain assets. Thus, we have seen the rise of “meme stocks”, with popular companies such as AMC and GameStop making the headlines. 

These crypto trends have set the tone for steady growth in the global cryptocurrency market. Analysts suggest that the market will witness a three-fold growth by the end of 2030, reaching a valuation of $5 billion [3]

Whether you choose to ignore this crypto trend or ride on with the wave, the choice is yours. What’s certain? The unprecedented growth of the crypto market. 

  •  Research on cryptocurrency is expected to grow until 2030 (at least)

Watcher Guru’s tweet shed light on what we can expect on the research front in the crypto world. Here’s what they tweeted. 

It touches upon the research carried out by Alex Kruge on cryptocurrencies. Alex Kruge, an analyst and a cryptocurrency aficionado, conducted research for HSBC on how the digital currency wave is only getting stronger, despite all the challenges it has faced over the years. In fact, its growth is now inexorable.

According to Krüge’s predictions, 500 million new investors, including small, medium, and notably large ones, will use cryptocurrencies by 2030 [4].

In the report, they go even further by asserting that by 2040, another 500 million users will join and come on board with the trend, bringing the total to 1 billion, and highlighting a positive growth trajectory.

Cryptocurrencies we may not see in 2030

We have seen how a few cryptocurrencies have become more popular than others. That said, 2022 was a torrid year for many cryptocurrencies. Experts have predicted that this downfall would eventually lead to the extinction of many cryptos in the future. 

Based on the current crypto trends, let’s take a look at some cryptocurrencies that will become extinct by 2030. 

1. Terra Luna

Remember the Terra Luna crash? The crash led to a series of an unpleasant chain of events. The wrath of the investors was very evident from their tweets, blogs, and more. 

Many crypto experts and analysts think the crypto market turns bearish because of cryptos like Terra. After all, Terra Luna reached its all-time high (ATH) of US$118 in April this year touching rock bottom the very next month. Looking at this crypto trend, we have a few reasons to believe that Terra Luna will exist in 2030. 

2. TerraUSD (UST)

LUNA tokens and TerraUSD were frequently making headlines in the first half of the year. It is important to note that TerraUSD (UST) and Luna (LUNA) are not the same. They can be referred to as sister cryptocurrencies that are native to the Terra network. 

Although market volatility is part and parcel of the game, the collapse of TerraUSD (UST) stunned the entire crypto sector. The price of TerraUSD fell well below its targeted $1 peg. Similar to Terra Luna, it has been around four months since the collapse, but TerraUSD is showing little signs of recovery. Therefore, do not be surprised if TerraUSD does not exist in 2030. 

3. ApeCoin

Cryptocurrency ApeCoin

An ERC-20 governance and utility token named ApeCoin is used within the APE Ecosystem to promote and reward decentralised community development at the helm of web3.

ApeCoin holders decide about how to use the ApeCoin DAO Ecosystem Fund using the decentralised governance structure that runs the ApeCoin DAO. The suggestions adopted by ApeCoin holders are managed by the APE Foundation.

There are many question marks over the future of ApeCoin primarily because of uncertainty around it. 

4. Cardano

Looking at the consistent price drop, it is safe to say that Cardano is going through a rough patch. Why? The highly volatile and fluctuating crypto market and constant interference by the Federal Reserve System (FED). These factors remain the primary reasons why the crypto market and Cardano are bearish lately. In addition, the increasing competition from other crypto projects is another reason why Cardano’s stature has stagnated.

5. NanoHealthCare Token (NHCT)

Until now, we have spoken about cryptos that are probably treading through the last phase of their lives. Let’s look at crypto that has reached the end of its lifecycle, the NanoHealthCare token.

Manish Ranjan, an Indian developer, launched the token in 2018 to transform the healthcare landscape,. It aimed to improve lives by using blockchain to address systemic healthcare problems including data security and high expenses.

Unfortunately, its website is no longer accessible, and there have been no updates on its Twitter feed since April 2020. It is listed as dead on Coinopsy since it has been abandoned or has no volume.

Crypto regulations trends – present and future

Crypto trends and regulations

Earlier this year, President Biden signed off an executive order on Ensuring Responsible Development of Digital Assets. Many believe that the crypto sector was waiting for an acknowledgement of this nature for a long time now. 

By signing that Executive Order, the White House pledges to participate in cryptocurrency research and work with other government agencies to develop a regulatory framework for digital assets. A “whole-of-government approach to tackling the dangers and using the potential benefits of digital assets and their supporting technologies” is also on the cards. 

It is clear that in the U.S., the White House is committed to regulating the digital asset industry. 

What can we expect in the future? Countries and international organisations must collaborate, utilising best practices and mutual learning, for a truly global coordinated system. Besides risk analyses and setting uniform standards, there is an urgent need to use technology itself to produce solutions that are inclusive and fit for purpose through public-private cooperation.

Final words

The White House’s Executive Order is an important step toward facilitating delivering information. A worldwide coordinated strategy that includes international cooperation around crypto-asset regulation will be economically advantageous, safeguard consumers, and stop the misuse of cryptocurrencies for illegal purposes.

Many such initiatives across diverse geographies and representing different sectors are working toward making streamlining regulating cryptos. At this stage, stakeholders are experimenting with the adoption of stablecoins, central bank-issued currencies, and cryptocurrencies. 

Read interesting blockchain news articles and blogs on iTMunch!

Feature Image Source: Photo by Kanchanara on Unsplash

Image 1 Source: Photo by Traxer on Unsplash

Image 2 Source: ApeCoin Twitter

Image 3 Source: Photo by Sasun Bughdaryan on Unsplash

Sources:

[1] (2022) “Number of cryptocurrencies worldwide from 2013 to February 2022” Statista [online] Available from: https://www.statista.com/statistics/863917/number-crypto-coins-tokens/ [accessed September 2022]

[2] Howarth. J (2022) “How Many Cryptocurrencies are There In 2022?” ExplodingTopics [online] Available from: https://explodingtopics.com/blog/number-of-cryptocurrencies [accessed September 2022]

[3] Crawley. J (2021) “Cryptocurrency Market Will More Than Triple by 2030: Study “Coindesk” [online] Available from: https://www.coindesk.com/markets/2021/08/25/cryptocurrency-market-will-more-than-triple-by-2030-study/ [accessed September 2022]

[4] Belardinelli. M (2022) “Cryptocurrencies will be the next trend until 2030” [online] Available from: https://en.cryptonomist.ch/2022/09/12/cryptocurrencies-next-trend-2030/ [accessed September 2022]

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Karandeep is a technical content writer based out of Pune, a city in India that is also known as the Oxford of the East. His journey with writing started in 2014 when he decided to try his luck in a gaming startup as a Content Developer. Since then, he has written on a wide range of topics within the gaming and the tech space. Apart from his love for gaming, Karandeep is keeping tabs on the hottest trends in the tech industry. After completing his Bachelors in Business Administration (BBA) from Symbiosis International University, Pune, he worked as an intern in an NGO that focused on urban development.
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