In the past year, some companies, start-ups, and projects have been key promoters and changemakers in the crypto field. Many mainstream companies have entered the blockchain field. At the same time, crypto startups and projects have also made amazing progress and launched bold new attempts. Bitcoin and cloud mining bitcoin 2021 is also returning to a high level not seen in three years this year.
Affected by the new crown epidemic in 2020, the economies of various countries have been hit, and governments have introduced monetary easing policies. Cloud mining bitcoin 2021 and other cryptocurrency digital assets have begun to show their advantages as safe-haven assets. At the same time, the trade war between China and the United States prompted them to compete in the field of cryptocurrency in the fight for currency sovereignty, and this has also strengthened the legitimacy of the cryptocurrency industry as a whole. In addition, institutional investors continue to flock to Bitcoin, which has also triggered a wave of price movements, boosting the top cryptocurrency to increase by 480% during the year.
In the past 12 months, not only mainstream companies but also large companies have entered the blockchain field. At the same time, emerging crypto startups and projects have consolidated their positions, boldly launched new products, broke transaction records, and created the most dynamic year in the crypto field.
PayPal finally gave in and integrated cryptocurrency
PayPal's integration to support cryptocurrency was hailed as a watershed in the industry in October. The digital payment giant has 346 million active users worldwide. (In contrast, the Cash App developed by Square, another company in this article, accounts for only a small portion of PayPal's user base, with 30 million monthly active users.)
PayPal began providing these services to US users in November. According to a survey, more than one-fifth of users have already traded cryptocurrency on its app.
Its move was praised by many people as "legalizing" Bitcoin, including MicroStrategy CEO Michael Saylo. In addition, in 2021, PayPal will also plan to extend its encryption services to other parts of the world. However, PayPal’s embrace of cryptocurrency has not been generally praised in the crypto circle; many Bitcoin advocates pointed out that since the cryptocurrency purchased on the platform cannot be transferred to other accounts, it is "mastered by Bitcoin". The spirit of "taking ownership of your money" (taking ownership of your money) is contradictory.
Breakthrough in the service of cryptocurrency
Enterprise software company MicroStrategy has also become a major institutional investor in cloud mining bitcoin 2021. Previously, its CEO Michael Saylor revealed in October that he holds nearly $800 million worth of digital assets in the company and personal accounts.
Since then, Saylor has become one of the biggest cheerleaders in cryptocurrency. Earlier this month, he also added more bitcoins to Microstrategy's asset library. In addition, he also posted a series of pro-Bitcoin remarks on Twitter, describing cryptocurrency as "a group of Internet hornet serving the goddess of wisdom" and "avoid the ark that drowns in the currency torrent". Compared with 2013, Saylor has changed a lot. You must know that at that time, he pointed out that the life of cloud mining bitcoin 2021 is "a handful".
At current prices, this Virginia-based company has made considerable profits in buying Bitcoin, and it is also encouraging other institutional investors to get involved in the field.
BlockFi’s good growth
The lending platform BlockFi allows cryptocurrency holders to lend assets at an interest rate of up to 8.6% and provide trading services.
This start-up company based in Jersey City was founded in 2017. In 2019, before the popularization of decentralized finance (DeFi) for encrypted loans, it had already begun to provide lending services and generated $4.5 million in revenue that year.
In addition, BlockFi has also raised more than $100 million in funds from venture capital firms such as Galaxy Digital and Winklevoss Capital. This year, its revenue is also expected to reach 120 million U.S. dollars, and it is also preparing for the IPO.
Square continued support for Bitcoin
Bitcoin's tireless supporter, Twitter CEO Jack Dorsey, did not follow his plan to open up the African market this year. On the contrary, he has been busy with his payment company Square's increase in bitcoin and cloud mining bitcoin 2021 development funding and investment.
Square invested a total of $50 million in Bitcoin in October. In addition, the company also stated: “We see Bitcoin as a tool for global economic empowerment. It is a way for individuals around the world to participate in the global currency system and protect their financial future. This investment is to further advance our mission. An important step."
Uniswap Ushered in the prosperity of DeFi
The decentralized cryptocurrency exchange (DEX) Uniswap launched its second version in May, realizing the direct exchange of ERC20 to ERC20 tokens for the first time. At the same time, it also added Tether and other previously incompatible tokens and a series of technology Improve. This also prompted the DeFi boom to continue throughout the summer, and the daily trading volume of DEX surpassed that of the established exchange Coinbase.
With the rapid increase in liquidity mining and income farming platforms, Uniswap has become a platform for launching new tokens and making money by increasing the liquidity of the token market. This, coupled with its low fees (0.3%), brought it to a total lock-in value (TVL) of more than $3 billion in November.
Uniswap can resist the so-called "vampire attack" from its competitors and clone SushiSwap, which is the consumption of its liquidity. In September 2020, cloud mining bitcoin 2021 and the DEX also launched the network's governance token UNI, and airdrops rewarded long-term users of the platform. Soon after the launch of UNI, the number of Ethereum locked in Uniswap doubled. Since then, Coinbase Pro has also raced to launch this new token.
Rarible make encryption technology more beautiful and build a bridge between NFT and DeFi
Since the NFT market Rarible was launched in November 2019, about 40,000 artworks have been created on the community-owned platform, and its total transaction volume has reached nearly 10 million U.S. dollars.
Rarible allows anyone to create a non-fungible token (NFT) representing a tradable digital collectible and provide proof of provenance, allowing the work to be sold on its market at almost zero cost.
Although other crypto art markets such as SuperRare, Nifty Gateway, MakersPlace, and OpenSea are also very popular, Rarible is still in the leading position, with more than $1 million in weekly trading volume.
In July, it also became the first NFT project to launch a governance token $RARI that can be used on its platform. Recently, yInsure, which can be traded as an NFT on the Rarible platform, has also proved to be popular with users, who can earn RARI through trading. These features also make Rarible an early pioneer of new synergies between NFT and DeFi.
Glassnode - Interpret the data.
Glassnode, a Swiss-based blockchain analytics company, provides on-chain market intelligence and exchanges data for institutional and retail crypto investors. It has 250 actionable information indicators, including transaction data, wallet holdings, miner data, and the number of derivatives. This year, cloud mining bitcoin 2021 encryption and blockchain analysis startups, such as Chainalysis, Elliptic, and Glassnode (founded in 2017 by data scientist and software developer Rafael Schultze-Kraft), have provided industry (and government agencies) with increasingly accurate and reliable Operational data.
Aave - DeFi innovation
Switzerland-based Aave is a lending agreement that has also been successful this year, which also highlights the importance of the new and booming DeFi field. Like other lending protocols Maker and Compound, Aave allows users to borrow cryptocurrencies instantly, and often large loans, if it can prove that you can repay the loan in one transaction.
In 2020, Aave popularized the concept of "flash loans" in the DeFi field, allowing users to obtain tens of millions of dollars in funds at a very low fee, but only a few seconds. If the payment cannot be repaid in the same transaction, the loan will not be issued. In October, the startup also received US$25 million in investment from companies such as Blockchain Capital and Standard Crypto to fund further innovation and expansion.
These developments of cloud mining bitcoin 2021 have also been reflected in the price of the protocol token AAVE. According to data, its increase this year has exceeded 4000%.