In 2021, the world witnessed the explosion of the value of cryptocurrencies. The total value of the crypto market, which was slightly more than $775 billion on January 1, 2021, jumped 275 percent in mid-November to a record close to $3 trillion.
Bitcoin and Ethereum performed well, up 68% and 436%, respectively, over the past year. In addition, countless new coins and tokens were introduced to the market and some of them were able to consolidate their position well. As of May 2021, the total number of crypto assets was 10,115 coins and tokens, up from 15,309 in early December, according to the Coin Market Cap website. In the meantime, some of these projects, such as SafeMoon, Internet Cumputer (ICP) and Chia Network, have gained considerable reputation since their launch.
2021 was also the year of the MemeCoin, and the different breeds of “dogs” entered the cryptocurrency market. Among the most significant and newsworthy MemeCoins of this year, we can mention Dogecoin, Shiba Inu and Floki Inu.
Also, last year we saw a rare increase in NFTs and blockchain-based games. According to DappRadar, NFT trading volume reached more than $23 billion, which is an astonishing figure compared to the $100 million volume in 2020.
The official announcement of the renaming of Facebook to Meta in late October sparked an explosive growth in Metavars-based projects, $3.6 million was invested in this sector.
according to the Coin Market Cap website, Gala, Oxy Infinity, Sandbox, Terra, Polygan, Phantom, Solana, Harmony and Decentral tokens were introduced as the best assets of crypto market. We also mentioned the strange growth of MemeCoin, Shiba Inu; A currency that in 2021 surprised everyone.
In addition, we saw that among the top 100 assets on the market, only NEM tokens, Internet Computer, Celsius, Bitcoin SV and Zilliqa ended 2021 with poor performance and even unexpected.
This year should be considered one of the most fruitful in history for cryptocurrencies; An opportunity that could be a powerful launching pad for the further development and adoption of these crypto assets in the coming years.