20 Charts & Tweets that Describe Crypto 2021
Crypto had a smashing 2021, yet again with overall market rising around 200% to about $2.5 trillion
Highlights
Covid eased off, but FED printing did not, thereby helping all assets including crypto
China banned crypto for nth and the FINAL time and BTCV hashrate plunged. It’s all good now. It’s all back online.
Elon buys crypto, Elon sells crypto, Elon brags, Elon apologises and starts to promote Dogecoin which rallies some 1000’s of percentage and then lands where it should
NFTs were all the rage since February and made several new crypto millionaires and new influencers and millions of new users (mass adoptions part 1)
NFT’s led to gaming tokens that rallied 100’s of percentage points (SAND, AXS, MANA etc) and made further new crypto millionaires (mass adoption part deux). Gaming is going the Web 3 way eventually
Meta and Metaverse became hotter and so did the Web 3.0 leading to further new users (mass adoption part 3)
DAO’s were on fire as no one wants centralised overlords to control your data and destiny
El Salvador made Bitcoin legal. Others became envious as it planned a Volacano driven Bitcoin city mining.
ETH started the process of deflation with EIP-1559 (1.2M ETH has been burned, that is around $5bn) and we all await the ETH 2.0 PoS beginnings & its effect on gas fee
ETH gas still continues to kill users but ETH killers (aka other L1s) just went flying off the charts
EVM compatibility is pushed not just by L1s but by DApps and bridges as well - a trend that we believe should continue
Real revenue started to pour in as well for many protocols - a sign that market is mature enough
Institutions came pouring in and billions of dollars raised by funds that are going to be invested in 2022 (around 25bn plus). MicroStrategy & Saylor continue to buy even into last days of December 2021
Coinbase went public and market tanked right after. Who would’ve predicted that? :)
BTC was up by 165% and ETH Defi underperformed the entire universe, while SOL / LUNA / AVAX did very well
Cobie started writing again and its been a delight along with our OG Arthur Hayes with his brilliant pieces her
As for predictions for 2022 - Darren has complied everything under his meta thread from everyone
Our telegram channel continues to publish alpha everyday so that you don’t have to read these end of year reports :). You an subscribe here or click below
Memes Continue so that you can have all gm’s and hny so that wagmi