2022 was one of the most brutal years for the cryptocurrency market. We witnessed a massive drop in the trading prices of most cryptocurrencies, including those regarded as safe investments like Bitcoin and Ethereum. To add insult to injury, we also witnessed the collapse of some stablecoins (most notably TerraUSD) and the giant exchange FTX. Amid this turmoil, the crypto industry significantly advanced toward the mass adoption of digital coins and tokens.
Ethereum’s Merge
Several technological innovations in 2022 have paved the road to crypto adoption. The most significant one is Ethereum’s Merge, which transitioned the network from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS). This upgrade reduces Ethereum’s energy consumption by a whopping 99.9%. But that is not all. Despite the harsh crypto winter, many developers continued to build decentralized applications (dApps) on the Ethereum network.
The Decentralized Finance (DeFi) Sector
Another important sector that contributed to crypto adoption was decentralized finance (DeFi). Although the total value locked (TVL) in DeFi fell 74% to just $55 billion in December 2022, this industry persevered. Ethereum retained its leadership with $32.1 billion in TLV, followed by BNB Chain with $6.5 billion. It is remarkable how scaling solutions were the least affected blockchains. Arbitrum’s TVL fell by just 12%, whereas Optimism’s TVL soared by an impressive 127.6%.
The Non-Fungible Token (NFT) Sector
The non-fungible token (NFT) sector also contributed to crypto adoption by increasing its trading volume by 0.41% compared to a year earlier. It is a remarkable achievement, considering the sharp decline in token prices. More importantly, unique NFT traders grew by 876.9% in one year, exceeding 10.6 million. Total sales also increased, reaching nearly $68.4 million.
The NFT sector greatly benefited from the emergence of several new marketplaces in 2022. The most notable was X2Y2, launched on January 28, 2022. It achieved $1.5 billion in annual trading volume, becoming one of the top ten decentralized NFT marketplaces. Another new player is Blur, an NFT marketplace and aggregator, launched on October 19, 2022. This platform reached $205 million in trading volume in a couple of months, becoming the tenth most active decentralized NFT marketplace.
The Gaming Sector
Last but not least, blockchain-based games became more popular, thereby contributing to crypto adoption. These games accounted for 49% of all dApp activity in 2022, becoming the most important sector of the dApp sphere. At the end of 2022, there were approximately 1.15 million unique active wallets (UAWs) and 7.4 billion transactions performed throughout the year. The most popular games in 2022 were Splinterlands, with 217,914 monthly UAWs, a growth of 85.8% from the previous year. Alien Worlds occupied second place, with 178,118 monthly UAWs.
Challenges of Crypto Adoption
Despite the achievements described above, the broad adoption of cryptocurrencies in daily life still faces many challenges. Although cryptocurrencies can offer a secure, fast, and global payment system, some problems remain to be overcome before mass adoption becomes a reality. Some of the most significant challenges are:
- Need for a better understanding of cryptocurrencies and how to use them.
- Extraordinary price volatility.
- Lack of regulatory frameworks.
- Uncertain taxation of cryptocurrencies.
- Online security risks.
- Transaction irreversibility.
- Scalability difficulties.
- Network congestion.
- Poor merchant adoption.
Several projects try to address these issues. That is the case with Pundi X, a project aiming to build a global decentralized crypto point of sale (POS) network. Let us look at this project in the following Pundi X coin price prediction.
Pundi X Price Prediction
What Is Pundi X (PUNDIX)?
Pundi X is a project that aims to foster crypto adoption by creating blockchain-based merchant devices, cards, and wallets. This project will transform retail businesses with its POS solution. Merchants and consumers will conduct instantaneous in-store transactions on a blockchain. Pundi X has successfully launched retail-oriented products, including XPOS, XPASS, and XWallet. It has also unveiled the world's first blockchain phone called BOB.
Pundi X was founded in 2017. Initially, it issued NPXS, an ERC-20 token powering the platform. A new cryptocurrency named PUNDIX replaced the old NPXS token in 2021. NPXS holders could change 1,000 NPXS tokens for one PUNDIX coin. Hence, the price history for the old token is irrelevant to the analysis of PUNDIX’s future.
Pundi X Overview
Pundi X Past Price Analysis
According to CoinMarketCap, PUNDIX hit the market on April 4, 2021, opening at $5.75. It closed its first day at $6.6. On April 9, this token reached $7.14, its current all-time high. But the good news about this cryptocurrency’s performance ended on that day. Since then, the PUNDIX price has been in constant decline. As of February 21, 2023, PUNDIX traded at around $0.55.
Pundi X Price Prediction 2025
Most experts agree that PUNDIX will likely have a new all-time high in 2025. CryptoNewsZ predicts the average PUNDIX price will be $1.15 in 2025, with a potential maximum of $1.3. DigitalCoinPrice is significantly more optimistic, with average and maximum prices of $1.9 and $2, respectively. For its part, PricePrediction forecasts an average price of $2.4, with a maximum of $2.8. If you buy PUNDIX now, your maximum accumulated gain in 2025 could be +408%.
Pundi X Price Prediction 2030
There is no consensus regarding the PUNDIX price in 2030. CryptoNewsZ expects an average price of $3.3 that year, with a potential maximum of $3.6. For its part, DigitalCoinPrice predicts average and maximum prices of $5.6 and $5.7, respectively. PricePrediction is considerably more optimistic, with an expected average price of $15 and a maximum of $17.2. If the last prediction is correct, your PUNDIX investment (at the current trading price of $0.55) will soar by 3,027% by 2030.
Conclusion
The future of crypto adoption is uncertain, but there have been significant achievements in that direction in 2022. Some projects address the challenges that impede the mass adoption of digital coins and tokens. Pundi X is one of those projects, trying to ease the use of cryptocurrencies for retail. The crypto industry is optimistic about the success of all these efforts, leading to the ultimate adoption of cryptocurrencies for daily use.
Pundi X Forecast FAQs
Is Pundi X a good investment?
It might be, although, a risky investment. PUNDIX has performed poorly since its launch in 2021. This coin has reached its dip, representing an opportunity to buy and reap significant profits in the long run. However, you should invest cautiously. But if you decide to invest in PUNDIX, you can purchase this coin on LetsExchange.io at competitive rates.
How many Pundi X coins are there?
As of February 21, 2023, there were 258,491,637 PUNDIX coins in circulation.
What is the future of Pundi X?
Pundi X is a well-thought project to foster crypto adoption with innovative products. This project likely has a bright future. However, it also depends on the overall performance of the crypto industry.
How much is Pundi X worth?
As of February 21, 2023, PUNDIX traded at around $0.55.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.
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