Cryptos brace for further adoption growth, price volatility in 2022, report says

Cryptocurrencies had a wild year in 2021, consisting of a significant acceleration in global acceptance amid major price volatility and a work-in-progress regulatory framework on the growing industry. These narratives are likely to only appreciate further in 2022, according to S&P Global's 2022 Global Credit Outlook. Still, on a technical analysis front, cryptos including bitcoin (BTC-USD), ethereum (ETH-USD), binance coin (BNB-USD), solana (SOL-USD), ripple (XRP-USD) and cardano (ADA-USD) - which make up the majority of the $2.3T global crypto market cap - trade deep in the red on a M/M basis, though still up substantially in the past year, as seen in the charts below. Meanwhile, "growing interest from institutional investors augurs accelerated expansion for cryptocurrencies as investment vehicles," the report says. For example, Galaxy Digital's (OTCPK:BRPHF) Founder and CEO Mike Novogratz recently highlighted his company's rapid growth in funded accounts due to the accelerating crypto adoption trends in the