The year 2021 has been great for Blockchain-based coins like Cryptocurrencies, particularly Bitcoin. We can see a roller coaster ride of the digital currencies from getting the coins like Bitcoin to move up and then go down. The previous year will be very vivid and loud in the coming future. In this article, we will be talking about the number of milestones we have witnessed the previous year. However, you can visit the bitcoin billionaire for a detailed analysis. In the meantime, we can check the five key Cryptocurrency market milestones in 2021. Let’s check them out as under:
1). The rise of Bitcoin – Cryptocurrency Market Milestones
Earlier in September, we saw the comeback of Bitcoin as it started gaining the lost price and reached finals at the whopping cost of around 70 USD in the recent past two months. Hence the rise of Bitcoin also helped many more essential milestones coming this year. In 2021 September, we saw the nations like El Salvador making Bitcoin its legal tender. Perhaps this was the time regulation in Bitcoin was the hot topic. Amid all this, the country made the coin as its legal tender. The clampdown of digital currencies seemed to come along as per the US tax rules, making things possible for everyone to trade. The financial market of Wall Street market seemed to be going ahead at a more excellent place. Now, we see the coin reaching around 69K USD getting a good hike last week.
2). The popularity of Meme Digital Coins – Cryptocurrency Market Milestones
Besides the coins like BTC and ETH, we have also seen several other coins and tokens making headlines in the media. We have many more such moments that can help grow tokens like DeFi and other Decentralized Finance. The meme coins like Doge and Shib made news for many more reasons. All thanks to the contribution of Elon Musk, who came forward to support the coin by tweeting. Soon, others joined, making the digital meme coin popular in 2021. In this way, we see these become the critical milestone in the country.
3). Exploding the interest in NFTs
We have seen a good growth of NFT in the primary market, and digital artists like Beeple was seen selling out NFT by March 21. The very sale was seen coming along with the NFT based artwork that was seen sold offered by the leading art and similar business in the said area. The luxury business that came in the 18th century did take the support of digital coins. Hence, this was the first time we saw auction groups accepting digital coins in any payment. So we have seen coming along with the district of the digital coins.
4). The Growth of DeFi
The year 2021 has given good recognition to the investors and groups in the market. Thus we see products like DeFi that came as an investment opportunity for all. In the early 21, we saw the group’s total value surging at around 300 per cent till the said date. Therefore, one can find the groups like TVL to be among the vital factors that further help in accessing the growth of these tokens. At the same time, it showcases the actual value of funds, and the users would further lock the DeFi based projects.
5). The birth of fans based tokens
The next and final milestone is the rise of the token. As the NFT was seen rising for the past few months, fan tokens’ birth occurred the previous year. Many fan tokens are seen coming along with digital currencies that will hold access for a wide range of fan-based membership and perks. Though one can find some similar ideas to NFTs, one can find it very fungible and thus can even be called interchangeable. The NFTs have become popular at various places, including selling away the merchandise and much more stuff.
Wrapping up
The year 2021 has been great for Bitcoin and other digital currency based lovers. The way things are around the digital coins, it was mandatory to see the coin becoming big last year. The above were some of the critical milestones of 21 in the perspective of Bitcoin.
