2022 Crypto Recap!! — Issue #2
Before we talk about what we have to look forward to in the year 2022, I want to take some time to reflect on 2021. 2021 has been a year full of surprises for all of us, and the cryptocurrency space has been nothing short of exciting!! I would like to discuss a few 2021 highlights and my thoughts about them.
Highlight #1: Buy & Hold XRP → International XRPL Day
For better or for worse, this was a very impactful event. On January 27th, I created a group called “Buy and Hold XRP” with the goal of pumping the price of XRP on February 1st. This was around same time of the Wall Street Bets fiasco. The day that I started the pump, the price of XRP was at 26 cents. The days leading up to the “pump day” of February 1st, the price rose as high as 75 cents, then took a plunge down to 35 cents. But guess what? The price NEVER returned to 25 cents for the entire year of 2021. To me, that is considered a SUCCESS on the part of the community for showing solidarity around a crypto that we all love. BUT, I’m not doing that again :P
Instead, I’ve decided to declare February 1st as International XRPL Day!! This is a day where we all share our love for the xrp ledger, the crypto, and the developers that are building amazing projects on the ledger.
Highlight #2: NFTs, Metaverse, & DAOs.
This year, we saw a boom in the nft, metaverse and dao industries.
NFT: This is an acronym for Non Fungible Token. These are unique tokens on any blockchain that can represent a variety of things that are physical or virtual. For example, I can have an NFT of a real house and sell it on the open market. Or, I can have an NFT of a ticket to a virtual concert. The possibilities with NFTs are endless!!
Metaverse: The metaverse is a catch-all phrase for virtual worlds that allows humans to interact with each other. An example of an emerging metaverse project that I am invested in is Matrix World. I was able to buy virtual land in this metaverse and I plan on building 3D buildings on the land to host virtual events.
DAO: This is an acronym for Decentralized Autonomous Organization. Simply put, a DAO is an organization that is owned by the community and governed by rules that are open, transparent, and changeable through a community vote. Looking toward 2022, DAO’s will be insanely popular.
Highlight #3: The Ongoing SEC Lawsuit
In 2020, the Securities and Exchange Commission in the United States has waged war on Ripple and the entire XRP community. We are now at the end of 2021 and the battle is still being fought. The SEC has stated that XRP is a security and that retail investors need to be accredited to hold these assets. Throughout the year, the SEC has back tracked on many statements of previous SEC members like Jay clayton. Needless to say, the SEC is a corrupt organization that wants to stifle innovation in the United States.
2021 has brought loads of surprises for the crypto community, but 2022 will definitely be a year to remember for SO MANY REASONS!!! If you’d like to know why I’m BULLISH on the blockchain space in 2022, read my next issue! ;)
Take Care and Happy Investing!