January 28, 2022
In 2021 we have seen astonishing developments in the cryptocurrency industry. Bitcoin and Ether prices reached historical highs and went through, for the first time, what is considered an extended bull market by traditional definition. The diversity of alternative coins and their market capitalization have increased dramatically and the dominance of Bitcoin as a percent of the total market capitalization declined from 70% at the beginning of 2021 to just over 40% at the end of the year. Given the size and global popularity of the industry, governments around the world have been forced to acknowledge and take a stance on the industry, whether it is to embrace, regulate, or ban. DeFi projects which offer decentralized lending and other financial services to average consumers were able to raise billions of dollars in liquidity, allowing the consumers to invest, lend, trade, or acquire leverage cost efficiently.
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