The cryptocurrency world is growing exponentially. In this new article, we’ll share the biggest cryptocurrency trends in 2021. In 2020, both blockchain and cryptocurrencies generally witnessed a huge risen in popularity, while multiple industries expressed an interest in finding applications for the technology to enhance business operations and processes. This credit could also be attributed to the Covid-19 pandemic, which generally accelerated digital transformation across the world, including investment in cryptos.
In 2021 and even beyond, the size of the global blockchain market is now expected to rise from $4 billion in 2020 to a whopping $39.7 billion by 2025, growing at a CAGR of 67.3% during the 5-year period. Considering the rise in the cryptocurrency market, as the year progresses, 2021 is likely to be another favorable year for the crypto market.
DeFi Projects
To start with, decentralized financial services for the much-talked-about DeFi projects could be one of the biggest trends in the crypto space in 2021. These projects have established the use cases of cryptocurrencies in the financial sphere quite effectively. DeFi projects have proved how successful smart contracts can be and not just for financial services. They are likely to be the next big trend for all of fintech
Bitcoin Exchange Traded Fund
Furthermore, Crypto enthusiasts have long yearned for a Bitcoin Exchange Traded Fund, similar to ETF available for mainstream investors. But the US SEC has rejected or delayed its decision on such ETFs for a long time now. If crypto ETFs do receive approval, it could open up the cryptocurrency world to a huge population of investors who are eager to participate in the market but unwilling to take the risk of buying and selling coins directly on exchanges.
Ethereum Future
Also, the future of ETH in 2021 seems incredibly bright, given that Ethereum is the platform on which smart contracts are executed. It is also the basis for dApps. So, real-world use cases of cryptocurrencies are likely to stem from the Ethereum ecosystem. Its growth is also one of the trends that shape the 2021 cryptocurrency scene.
Conclusively, 2021 is certainly an exciting time for the entire cryptocurrency scene and it also appears to be another year of firsts for the digital asset class.
Also Read
