John Wu, president of Ava Labs, a blockchain software startup Avalanche ($AVAX), has several interesting predictions for the crypto market in 2022.
What is Avalanche (USD AVAX)?
Avalanche is an open-source platform for running decentralized applications and deploying enterprise blockchains in one scalable, collaborative ecosystem. Avalanche is the first decentralized smart contract platform built for a global financial scale with near-instant transaction completion. Ethereum developers can quickly use Avalanche as Solidity works out of the box. AVAX is the native token of Avalanche. A limited and scarce asset used to pay fees, secure the platform through staking, and provide a basic unit of account for multiple subnets created by Avalanche. 1 nAVAX equals 0.000000001 AVAX.
Wu’s predictions on Crypto-Market
In an interview with Kelly Evans, host of The Exchange on CNBC on December 31, 2021, Wu started by introducing Avalanche as:
“Avalanche is the fastest blockchain. It’s Ethereum compatible and it’s the fastest growing blockchain based on usage.”
Wu furthermore shared his thoughts about how much the crypto market could grow in 2022:
“I suppose after I come again in 2022, the asset class, that’s kind of approximately 2.3 to 2.5 trillion dollars, we’ll be speaking approximately [how] the largest tale in 2022 is how the crypto asset elegance doubled and went to 5 trillion and it’s going probable be the handiest asset class that would face up to the headwind from the macro elements of Fed tightening and geopolitical problems which might be out there.”
“And I suppose the cause is quite simple due to the fact from in which I sit, what I see is largely a large influx of talent, capital, and utilization and listen, I`m nearly embarrassed to mention that that`s a prediction due to the fact I’m simply reporting what I see on a each day basis.”
