Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021

The cryptocurrency industry has come a long way in the last few years, and many of its most promising projects are still developing and working hard to be noticed. Though these 10 cryptos may not necessarily be top-tier coins by the end of 2021, they have been key factors that shaped our understanding of what is possible with blockchain technology at this point in time.

The “Top 10 Crypto Stories of 2021” is a list of the top ten cryptocurrency stories that will take place in 2021. The annual report from Footprint Analytics also includes information on the top crypto influencers and events that will happen in 2021. Read more in detail here: top 10 cryptocurrency 2021.

Finally, in 2021, the cryptocurrency market expanded beyond only BTC and ETH to become a multidimensional sector with a large number of exciting chains, tokens, projects, and applications.  

Some of these initiatives, particularly in GameFi, ceased being directly related to the price of bitcoin and started to be seen as significant advancements in and of themselves. BTC had a fantastic year as well, however, as it saw institutional acceptance in the form of ETFs and legal tender status.  

Footprint Analytics – Accumulated Growth of Token Price in 2021 ( BTC vs. ETH vs. BNB) – BNB Outperforms ETH & BTCTop 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Footprint Analytics – Accumulated Growth of Token Price in 2021 ( BTC vs. New Chains) – New Chains outperform ETH & BTCTop 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Footprint Analytics – Accumulated Growth of Token Price in 2021 ( BTC vs. DeFi) – Top DeFi Projects BNB Outperform ETH & BTC

These are the ten most significant news items from 2021. 

  1. What to Expect in 2022 Following BTC’s Big Rally in 2021

In 2021, BTC experienced a big transition after existing for the previous 10 years and mostly being exchanged by novice investors and cryptocurrency enthusiasts. Temporarily accepting BTC payments for its goods, Tesla’s announcement resulted in a sharp price increase and increased public awareness of BTC. BTC reached a record high of $67,674 due to the introduction of institutional investors, the recognition of BTC as legal cash in El Salvador, and the US’s first approval of a Bitcoin futures ETF.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021BTC price according to Footprint Analytics for 2021

  1. Will ETH Deflate After the London Upgrade?

Ether created the groundwork for its switch to PoS in 2022 after going through four hard forks in 2021. With ETH values increasing more than four times in the last 12 months, the London upgrade underlines to the crypto community that Ethereum is a solid, dynamic economic system.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Footprint Analytics: Price of ETH

  1. 2021 Public Chain Development: From the Ideal to the Real

The crypto community has not been discouraged from investigating more varied public chain alternatives by Ether’s ambitious London upgrade and development plans for 2.0. 86 public chains were created in 2021 with blockchain users and developers in mind.

By the end of the year, Ether’s market share had dropped from 96 percent to 62 percent, making these new chains—which both compete with and work with the Ether ecosystem—the key topic going into 2022.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Market Share of TVL by Chain – 2021 VS 2020 – Footprint Analytics

  1. Stablecoin Market Expansion at a Rapid Pace

Stablecoins are essential to the functioning of the blockchain because they act as a link between the physical world and Web 3.0. Over 100 billion stablecoins were issued on Ethereum in total in 2021, and stablecoin regulation is formally on the agenda.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Top 5 Stablecoins According to Footprint Analytics’ Market Cap

  1. Growth of NFTs

Similar to how DeFi attracted investors to the bitcoin market, NFTs are luring users in with intriguing artwork, rewarding games, and even some practical applications.

Another vastly unexplored area with almost limitless promise is the metaverse.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Top 10 NFT Projects by Trading Volume in 2021, according to Footprint Analytics

  1. Will GameFi 2.0 Start to Emerge in 2022?

The DeFi ecosystem was replaced by GameFi as the trendiest segment of the cryptocurrency industry in the second half of 2021. Virtual games are attracting more players than ever before, especially in light of Facebook’s name change to Meta and the resurgence of the metaverse idea.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Top 8 GameFi Projects According to Footprint Analytics for 2021

  1. Where Did Blockchain’s Capital Inflow Go?

Although the investing sector as a whole is now going through a capital winter, blockchain fundraising is still going well. The total money produced in 2021 was $30.27 billion, a 790 percent increase from $3.4 billion in 2020.

Investors continued to appreciate the mature architecture and growth of the CeFi business in 2021, which was followed by the NFT and infrastructure sectors.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Footprint Analytics – Monthly Funding Amount of Each Area in 2021Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Footprint Analytics – Top 10 Funding Projects in 2021

  1. In 2021, almost 600 projects received a REKT, costing $2.2B.

In 2021, more than 600 programs were REKT (attacked), and a third of them had total financial losses of $2.2 billion. The Poly network was the target of the largest hack in 2021, losing $602 million as a consequence of a breach assault in August. The most well-known flash loan assault resulted in a total loss of $130 million and targeted Cream Finance.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Attacks That Lost More Than 50M, According to Footprint Analytics

  1. Can 2021 Predict This Year’s Gains in Tokens?

In 2021, there were more tokens on the market than anybody could count thanks to a number of exciting ventures like DeFi, NFT, and GameFi. While the majority of people followed the price of BTC and ETH, certain new tokens deviated from this trend for the first time. While several tokens saw enormous profits, some projects were compromised and went bankrupt.

Top 10 Crypto Stories of 2021 | Footprint Analytics Annual Report 2021Top Tokens by Growth Multiplier according to Footprint Analytics

  1. What can we anticipate for the blockchain industry in 2022?

Considering the year 2022

Interoperability across chains and projects is now required as a result of the growth of a multi-chain ecosystem. More initiatives supplying a standard architecture for blockchain interoperability will be launched in 2022.

Alongside advancements in DeFi development, more DeFi lending platforms will accept metaverse land as loan collateral. Large game firms joining the GameFi bandwagon provide NFTs, which have broader application possibilities, access to more powerful communities. Additionally, we anticipate that DAOs will be implemented into GameFi and NFTs.

To sum up

Investors are starting to move away from the FOMO mindset of currency speculation as the blockchain sector matures and toward a more logical evaluation of the inherent economic worth of projects. Value investing will emerge as the new fashion in the cryptocurrency industry by 2022, along with an increase in institutional investment.

Date & Author: Jan 14th, 2020, [email protected]

Source of the Data: Footprint Analytics

Footprint: What is it?

An all-in-one analytical tool to display blockchain data and unearth insights is called Footprint Analytics. Users of any expertise level may rapidly begin exploring tokens, projects, and protocols because to its cleaning and integration of on-chain data. Anyone may quickly create their own personalized charts using the drag-and-drop interface and over a thousand dashboard designs. Discover the value trend driving the project by exploring blockchain data.  

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The “is cryptocurrency legal” is an interesting question. The answer depends on where you live. If you live in the US, then yes it is legal. If you live in Europe, then no it is not.

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