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Bitcoin, hitting new ATH in 2021, is fueling mainstream adoption of cryptos

2021 was a busy year for the crypto industry, with Cryptocurrencies Reached record highs, stablecoins made a name for themselves, regulators cautiously came on board, and several other exciting developments. Block Research’s Digital Asset 2022 Outlook provides a snapshot of all the major developments the industry has seen over the year, and shows notable progress since last year.

Most of the industry’s total market cap growth is due to the leading Bitcoin hit new ATHs of nearly $ 67,000, returning nearly 100% profits that year. This helped make digital assets more attractive and led more private and institutional investors to Bitcoin and many other cryptocurrencies. It’s interesting how the report Solana highlights and Avalanche as Breakout Winner of the Year, along with the Memecoins Shiba Inu and Dogecoin.

Growing interest in cryptocurrencies and digital assets has also led venture capitalists to rush to companies in the sector, with companies receiving around $ 24.7 billion in investments to date in 2021. This is far more than the combined investments of $ 14.4 billion by the crypto companies over the past six years. The outstanding growth in investment has helped at least 65 companies achieve unicorn status – valued at $ 1 billion or more.

While DeFi saw increased interest and growth, other key sectors that exploded in 2021 were NFTs and GameFi. Around 42% of all VC investment deals in the crypto market were focused on companies that work with NFTs or gaming.

Meanwhile, DEXs recorded their trading volume up to 522% year over year through 2021, hitting a high of $ 163 billion in May. The demand for DeFi has resulted in nearly 2% of all BTC supply on the market in packaged form Ethereum Network. The total amount of Bitcoin wrapped on Ethereum has increased from 140,000 in 2020 to 317,000 BTC, which is roughly 1.7% of the total supply.

Source: Crypto News Deutsch

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