More Countries to Follow El Salvador in Adopting Bitcoin, New Survey Reveals

A survey of more than 4,000 CoinList users details the likely future of the cryptocurrency and blockchain world in 2022

December 10, 2021

As many as 87.3% of users believe that more countries will follow El Salvador in adopting Bitcoin as legal tender in 2022, according to a new survey conducted by CoinList.

El Salvador became the first country in the world to adopt Bitcoin as legal tender in September, with more ambitious plans like building a volcano-powered “Bitcoin City” tabled by President Nayib Bukele at the recent LaBitConf conference.

El Salvador is also regularly taking an opportunity to buy more Bitcoin for its reserves when prices go down, something that potentially could bring some juicy rewards for the Central American country, provided the prices increase in the future.

The plan could well be a success as 46.8% of the CoinList survey respondents expect the world’s largest cryptocurrency to trade in ranges between $100,000 and $150,000 in 2022, while 10.9% expect the price of Bitcoin to soar above $200,000.

When asked about the most common ways Web 2 companies will incorporate crypto into their services, 52.3% of the survey participants answered “through the increased adoption of crypto payment rails”, while 40.7% pointed to “rewarding existing communities with in-platform economies”.

Soaring demand for gaming and DeFi assets

Decentralized finance (DeFi) and non-fungible tokens (NFTs) garnered increased attention in 2021, with new projects being launched practically every day.

CoinList users expect that gaming will be the most in-demand category in 2022, with 56.5% of survey respondents saying that gaming is the asset category they’d most like to see listed on CoinList.

Other top requests include DeFi (52.1%) and NFTs (41.6%), while infrastructure (28.3%), social tokens (22.8%), and governance (16.2%) proved less popular.

When asked what NFT use cases and categories they were most bullish on in 2022, metaverse (40.6%) and gaming (37.7%) scored far above other use cases including events/tickets (5.7%), membership (4.7%), and crowdfunding (4.2%).

When it comes to blockchains beyond Ethereum, a new crop of high-performance networks is getting more and more attention.

When asked what blockchains they plan to interact with most in 2022, more than 56% of respondents said Solana, followed by Binance Smart Chain (48.8%) and Polkadot (47.9%).

“2021 has been a milestone year for the crypto market, and as this survey makes clear, demand will only grow in 2022,” CoinList Director of Marketing Alex Topchishvili told CryptoEvents.

“Crypto is now a hot topic, not only from a financial perspective, but in popular culture too. NFTs have taken off, BTC and ETH hit multiple new all-time highs, and we have the highest rate of institutional buy-in from major companies than ever before. Users are clearly excited about and starting to use Ethereum alternatives like Solana and Polkadot, which will only force the Ethereum ecosystem to accelerate its evolution and address scaling and pricing issues. This is all great for the ecosystem.”

CoinList, which earlier this year announced a $100 million Series A funding round at a $1.5 billion valuation, is a full-stack crypto platform that allows its 6 million users across 170+ countries to buy, trade, and store Bitcoin, Ethereum, and many other popular crypto assets.

CoinLisit has become the global leader in new token issuance, helping blue chip projects like Filecoin, Solana, Celo, Algorand, Dapper, and others connect with hundreds of thousands of new token holders.

The platform supports the full lifecycle of crypto projects, from token sales through token distribution, trading, lending, and crypto-specific services such as staking, access to decentralized-finance opportunities, and participation in on-chain governance.