2020 was a spectacular year in the crypto sphere with fresh record-breaking token prices and unparalleled industry developments. With wider adoption, the digital assets and blockchain industry are on the fast track to greater growth in 2021. Here are five trends to keep an eye on in 2021.
1. The Inclusion of More Institutional Players in the Digital Assets Market
Digital assets saw increased adoption in 2020, indicating increased institutional interest in Bitcoin and other digital assets in 2021. In this competitive market, promoting your product is a difficult task. Cryptocurrency and fintech ads are the best solution.
Paypal enabled customers to buy and sell Bitcoin and other virtual currencies using their Paypal accounts in the fourth quarter of 2020, in addition to accepting Bitcoin as a payment option from over 26 million merchants.
The groundwork is set for other institutional entities to obtain a piece of the crypto pie in 2021, with renowned multinational corporations like Paypal and Square leading the way.
2. CBDCs’ Further Development
In 2020, Central Bank Digital Currencies were hotly debated. Several central banks around the world are considering launching their own central bank digital currencies.
The Central Bank Group will invest in a collaborative effort to evaluate CBDC and its use cases, including economic, functional, and technical design considerations, as well as cross-border interoperability.
3. Blockchain Solutions Accelerated Demand Beyond Financial Use
The demand for contactless transactions increased considerably when the global pandemic hit. If you’re concerned about reaching your target audience with your company news, Blockchain press releases are the best place to go.
Many industries have accelerated their digital processes to increase their business processes and face new challenges. The demand for technology solutions has increased, one of which is blockchain technology.
4. Development of DeFi industry
DeFi was without a doubt one of the most talked-about subjects in the crypto world in 2020. The total value locked (TVL) in DeFi surpassed $1 billion in February 2020, causing the Ethereum community to rejoice.
With more investors dabbling in yield farming and a growing demand for DeFi tokens, top crypto exchanges have increased their support for DeFi tokens in response to the growing interest.
5. Bitcoin and other digital assets will reach new heights.
Bitcoin’s market capitalization surpassed $500 billion, surpassing Visa, Walmart, and Samsung. Cryptocurrency prices were extremely volatile this year, as many people have noticed. At the time of writing, Bitcoin and Ethereum had made 1-year gains of roughly 290 and 447% respectively, putting the year on a high note.
Bitcoin and other digital assets may experience even more spectacular growth in 2021 as a result of increased governmental support, wider adoption, and institutional interest.
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You can also read my other articles,
- The Effect of Cryptocurrency on Fintech- https://elenarcrypto.tumblr.com/post/650174106039468033/the-effect-of-cryptocurrency-on-fintech
- When Is the Best Time to Send a Press Release for the Best Results- https://telegra.ph/When-Is-the-Best-Time-to-Send-a-Press-Release-for-the-Best-Results-05-03