In the year 2021, Cryptocurrencies broke away from being just BTC and ETH into a multifaceted industry with dozens of promising chains, projects and applications.
Some of these projects, particularly in GameFi, stopped being tied directly to the price of Bitcoins and began to be appreciated as major developments in their own direction. BTC had an incredible year as it saw institutional adoption in the form of ETFs and legal tender status.
Here are the 10 most important stories from 2021.
BTC, which has existed for the past ten years and is mainly traded among small investors and crypto believers, underwent a major change in 2021. A surge in price and bringing BTC into the public eye caused by Tesla's acceptance in BTC payments for its products temporarily. The entry of institutional investors, the inclusion of BTC as legal tender in El Salvador and the approval of a BTC futures ETF in the US drove BTC to a new high of $67,674.
Ether laid the foundation for its transition to PoS in 2022 after experiencing four hard forks in 2021, after experiencing four hard forks in 2021. The London upgrade confirms thatEthereum is a sound, dynamic economic system, with ETH prices growing more than 4 x in the last 12 months.
In 2021, there was no Public Chain Development - from Ideal to Reality.
The ambitions of London upgrade and development plans for 2.0 have not deterred the world from exploring more diverse public chain solutions. There were 86 public chains geared towards developers and users of the digital ledger by the year 2021.
These new chains have become the big story heading into 2022, with Ether s market share declining from 96% market dominance to 62% by the end of the year.
As a bridge between the real world and Web 3.0, stablecoins play a crucial role in the operation of the blockchain. The issuance of over 100 billion stablecoins onEthereum was officially on the agenda in 2021, and the regulation of stablecoins is also on the agenda.
Just as DeFi brought capital into the market, NFTs are bringing people into it with puzzling artwork, lucrative games, and even some actual use cases.
The metaverse is a huge unknown with nearly unlimited potential.
Is there any chance that GameFi 2.0 will come to an end in 2022?
GameFi took over the DeFi ecosystem in the second half of 2021, as the hottest area of the criptocurrency market. With Facebook changing its name to Meta and the concept of metaverse re-emerging again, virtual games are showing unprecedented appeal.
How did the influx of capital toBlockchain go?
The overall investment industry is experiencing a capital winter, and fundraising in the blockchain continues to be unabated. The funding for the year was $30.27 billion in 2021, up 790% from $3.4 billion in 2020.
In 2021 investors still favor the CeFi industry, which has mature architecture and development, followed by the NFT and infrastructure sectors.
None of over 600 projects got REKT in 2021, $2.2 B lost.
In 2021, more than 600 programs were attacked by REKT, with one-third of them suffering financial losses of $2.2 billion. The Poly network was the biggest victim of hacking in 2021, with a breach attack in August that resulted in $602 million in losses. The most well-known flash loan attack was on Cream Finance, which resulted in a loss of $130 million.
In 2021, dozens of promising projects from DeFi, NFT, and GameFi brought more token to the market than anyone could notice. While most people were watching the price of BTC and ETH, we saw some new tokens deviate from this trend, while others saw astronomical gains, while others were hacked and went to zero.
Interoperability between chains and projects is necessary with the development of a multi-chain ecosystem. In conjunction with innovations in DeFi development, more DeFi lending platforms will support metaverse land as collateral for loans. As big gaming companies jump on the GameFi bandwagon, NFTs get access to more influential communities with more application scenarios. We expect the DAOs to be incorporated into NFTs and GameFi.
With the growing maturity of the industry, investors are beginning to shift from the FOMO mentality of coin speculation to a more rational assessment of the intrinsic business value of projects. Value investing will become the new trend of the criptocurrency world in 2022, along with the entry of more institutional investors.
Footprint Analytics is a one-in-one analysis platform that can be used to visualize data and discover insights. Users of any experience level can quickly start researching tokens, projects and protocols because it cleans and integrates on-chain data. With over a thousand dashboard templates and a drag and drop interface, anyone can build their own customized charts in minutes. Uncover the data and discover the value trend behind the project.