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Summing-up 2021: Year Of Cryptocurrency

Summing-up 2021: Year of cryptocurrency
Author: Admin
31-Dec-2021
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Wassup?

We hope you are as amazing as 2021 have been for cryptocurrency. 

Cryptocurrencies lately have been the hottest talk of the town these days, and surely you too have participated in those trendy gossips. Didn’t you?

If not, don’t worry! We are here, to sum up, all the crypto moments of 2021 that you missed gossiping about. 

Let’s start from the top coins and tokens that have shown outrageous performance in the year 2021:

  • Solana (SOL) gained about 4500% of its value from the year start, and Now, It is at the edge of exceeding Ethereum mainly due to its high transaction speed and low fees.
     
  • SHIBA INU is the favourite cryptocurrency of Investors and has experienced 1000% price growth, leaving many millionaires in 2021. 
     
  • Many meme coins have made their roots in crypto culture. People have depicted utmost interest in meme coins like SHIBA INU, Dogecoin and Squid game.
     
  • Bitcoin hits an all-time high of about $68000. Provoking people’s interest to invest more. Check out why Bitcoin is so valuable?
     
  • A lot of people’s attention has been grabbed by cryptocurrencies such as Babydogecoin, Floki and Safemoon. The high demand has influenced Flitpay to list these coins on its app.

Almost all cryptocurrencies have been a boon to cryptocurrency investors in 2021. 

After knowing the above statistics, did you too feel? “Ahh…… I should have also invested”…..haha…It’s alright! Just remember, It’s never too late.



 

Apart from price gains, the year 2021 has offered many crypto revolutions and emerging technologies as well.

  • Web 3.0, a decentralised next-generation internet technology hyped this year, the idea of the technology is to create an environment where apps have no third party control, and people can pay for services using crypto. Well, this sounds interesting but still has a long way to go.
     
  • NFTs (Non-fungible tokens) became another earning source for many people, where people introduced and sold their creativity digitally through videos, photos and graphics. This revolution has exposed the love of people for art. The most expensive NFT sell in 2021 was “The merge by PAK”, sold for $91.8 million. Many celebrities like Melania Trump, Amitabh Bachchan and Yuvraj Singh joined the NFT craze and came up with their own NFT’s.
     
  • Metaverse is another emerging technology; it is a virtual platform, which aims to build a virtual environment where people can be avatars and payments can be done through cryptocurrency like MANA, Sandbox, Axie etc.
     
  • El Salvador became the first county to accept bitcoin as a legal tender. This was out of the box decision taken by Nayib Bukele, the president of the country.

These positive aspects were accompanied by:

  • China banned crypto mining, trading and investment, which impacted the crypto market with an ongoing bearish trend. Following this, the U.S. is becoming the top destination for crypto miners, and many countries are taking advantage of China’s crypto ban.
     
  • The rumours of India putting a ban on cryptocurrency We think the Indian government have changed their mind looking at the positive side of cryptocurrency because now the government has announced reconsideration of cryptocurrency bill to regulate it.  Nirmala Sitaraman, the Finance Minister of India, states that crypto has a lot of potential to boost the fintech industry and provide people with a window to use and experiment with crypto. Still, people are withdrawing money from crypto in the fear of losing it.

However, many investors are taking advantage of the bearish trend and investing large sums of money because “crypto is the future.” 2021 has witnessed a significant hike in the number of crypto investors worldwide. The numbers are unimaginable.

It takes a lot of courage to take risks, but, at times, risks can pay you much more than you can imagine. So, keep taking risks. Here are a few trading strategies that can help you to trade efficiently.

We wish 2022 to be better than 2021 for you and as well as for cryptocurrencies. Keep trading, happy trading!

 

 

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