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Crypto Milestones of 2021

Last look at 2021

Hello everyone! In the final article of this year, we want to remind you about all the most important and remarkable events in the crypto industry in 2021.

2021 has become a kind of turning point for cryptocurrencies and blockchain technology. The popularity of the projects grew at a rapid rate: according to Google search queries, “Dogecoin” and “Ethereum Price” entered the top 10 search queries in the news category. Cryptocurrency has also been an extremely popular topic on Reddit with about 6.6 million mentions. In general, the entire sector grew exponentially. This year, the capitalization of the crypto market for the first time exceeded the $ 3 trillion mark, and venture financing reached the amount of $ 30 billion.

This is more than all the funds raised over the previous 10 years combined. Almost every investment round this year has set new records. Also, according to the Cambridge University Bitcoin Electricity Consumption Index, the annual energy consumption of Bitcoin miners is 123.02 terawatt-hours, which is equal to the entire energy consumption of Colombia, Argentina, Norway, Sweden and Ukraine combined during the year.

Let’s recall the main events of 2021:

1. ATH of Bitcoin and Altcoins. The price of Bitcoin rose to its all-time high of $68,000 (about $1.08 million) in November 2021. The first cryptocurrency also reached 11% of the market capitalization of gold at that time. Also, altcoins have shown rapid growth. We were especially pleased with the projects whose validators we are. These are Solana, Polygon, Celo, Oasis.

2. Bitcoin recognition and cryptocurrency regulation. Salvador’s recognition of Bitcoin as a legal tender was a real breakthrough for cryptocurrencies. Following El Salvador, a movement to regulate cryptocurrencies has begun in Panama, Brazil, Argentina, Ukraine, Cuba and many others. There is serious eyeing to Bitcoin and even have plans or are already working on its adoption.

3. CBDC. The regulation of cryptocurrencies has led to the fact that states are thinking about creating their own digital assets. They are actively developing their Central Bank Digital currencies (CBDC) in South Africa, China, Ukraine, Russia and many other countries.

4. Bitcoin-ETF. On October 15, the SEC approved the first Bitcoin-ETF from ProShares, and on October 19, the fund was listed on the NYSE (New York Stock Exchange) under the ticker BITO.

Subsequently, Bloomberg senior ETF analyst Eric Balchunas stated that the ProShares ETF became the most successful instrument in terms of “natural” or “mass interest”, and also took second place in terms of indicators among all exchange-traded funds in history (the Blackrock US Cardon ETF was in first place). It was a big event not only for cryptocurrencies, but also for the traditional financial market.

5. Involvement of major players and companies. Fidelity, Goldman Sachs and JP Morgan and many other major financial players began to enter the crypto market. Microstrategy continued to buy additional Bitcoins throughout the year and now owns assets worth about $6 billion. Fintech and traditional payment providers have begun to implement blockchain and crypto solutions, and the giants PayPal, Venmo, Mastercard and even Twitter have allowed customers to make transactions in bitcoins. Tesla and Square also keep reserves in Bitcoins. In addition, the entry into the Coinbase exchange had a positive impact on the industry. Its debut was the largest listing of digital assets in history, as the price of its entry into the market was twice the value of Nasdaq. The presence of a public company of this size demonstrates that the business associated with cryptography and the class of crypto assets should be taken seriously, and it has also increased trust in it.

6. NFT. The NFT boom occurred at the end of 2021, when the base price of a monkey from the Bored Ape Yacht Club, one of the most popular and recognizable NFT collections, was $233,276. NFT began to attract stars and large companies: Adidas, Nike, Snoop Dogg, Jay-Z, Mila Kunis, Melania Trump and many others.

7. GameFi and Play-2-Earn. In the last few months of 2021, the trend for P2E has begun to develop rapidly and attract more and more new users who are interested in making a profit. The number of games has already exceeded 200, while they occupy up to 45% of the traffic of all decentralized applications. Now this trend is being singled out in a separate direction of GameFi (Game Finance).

8. Metaverse. Metaverse is part of the next evolution of the Internet, combining virtual reality with the capabilities of the Internet. This year, the metaverse concept has attracted about $12 billion in capital. Crunchbase, a venture capital data site, has registered more than 700 closed transactions related to the metaverse, from online games to augmented reality.

In our opinion, these are the main trends of the outgoing year. Some of them will flow into the next year. In 2022, we are waiting for the continued growth of the trend for metaverses and GameFi. We are waiting for the next wave of cryptocurrency recognition, which means there also would be new price records. Bitcoin mining is expected to grow rapidly in 2022, and some leading mining companies intend to add hundreds of thousands of new computers to their networks. In addition, finally, the transition of Ethereum to the PoS consensus mechanism should happen.

We are very pleased that the projects we support have also achieved impressive results. For example, Solana has expanded to 5,145 projects, and the number of its validators has exceeded to 1,300.

The Graph has grown to 160 indexers, more than 7,400 delegates and more than 2,200 curators. Oasis Labs launched the $ 160 million Oasis Ecosystem Fund, and Celo launched Celo Euro (cEUR). Dock completed the token migration, switched from Proof of Authority to the Proof of Stake network, and Regen Network launched Regen Ledger 2.0 and the Eco Credit module. Sentinel announced their first hackathon.

In addition, there were a lot of cool new integrations. For example, Polygon announced their collaboration with Opera Browser and Uniswap v3. Celo and Regen Network announced a partnership called “The Climate Collective”, which is aimed at combating climate change. Oasis Labs has also entered into more than 20 new partnerships with companies such as Nebula, Cryptosafe Alliance from Binance, BMW, Genetica, Meta AI and others.

We also had a productive year. This year we have launched our updated website, written a lot of useful manuals and review articles for you. In addition, we have started to introduce you to new promising projects that are just emerging (Neon, Umee). We searched and published the most interesting and latest news for you in our Telegram and Twitter channels. And also enlightened you every day in our heading Betting Definition. Next year we will continue to work for you, provide you with comfortable staking, introduce you to crypto terms and new projects. Thank you for this year!

We wish you a Happy New Year and happy holidays! See you soon!



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Stake Service StakeService is an experienced Proof-of-Stake validator for Celo, Graph, Solana, Plasm, Avalanche, Sentinel, Bitsong