{"id":17631,"date":"2021-11-29T12:59:21","date_gmt":"2021-11-29T12:59:21","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=17631"},"modified":"2022-09-20T09:57:58","modified_gmt":"2022-09-20T09:57:58","slug":"cryptocurrency-trends-in-2021-every-trader-should-know","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/cryptocurrency-trends-in-2021-every-trader-should-know\/","title":{"rendered":"Cryptocurrency Trends in 2021 Every Trader Should Know"},"content":{"rendered":"
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The total market cap of all cryptocurrencies is growing constantly. It has reached $2.4 trillion as of October 27, 2021, with over 700 million transactions performed over the blockchain. According to Gartner<\/a>, blockchain is projected to support an annual global movement and tracking of goods worth $2 trillion.\u00a0<\/strong><\/p>\n Let us dive into each trend that has made our lives simpler with the materialization of blockchain technology and its penetration into other businesses, according to News Spy<\/a>.<\/p>\n Blockchain metamorphosed into the realms of art and creativity through the NFT route. Non-Fungible Tokens (NFTs) are a non-replicated copy of a unique digital asset- an art masterpiece, or tangible and intangible assets that could be traded or collected by a crypto enthusiast.<\/p>\n This has involved many artists, sportspersons, film celebrities, and musicians, flooding the blockchains with unmatched token sales for astonishing sums of money. For instance, Popularly known as Beeple, Mike Winkelmann sold his \u201cEverydays: The First 5000 Days\u201d of artwork as an NFT token for a whooping sum of $69.3 million at Christie\u2019s.<\/p>\n First released in 2017 by CryptoKitties, an Ethereum based game, NFTs have had their share of popularity since.<\/p>\n It is a convenient cloud service to design and consequently manage using smart contracts and\u00a0decentralize its applications<\/a>\u00a0powered by blockchain technology. The main attractive features of the service include advanced protection by chip encryption technology, high stability utilizing highly reliable data storage, platform architecture management, modular networks and infrastructure, easy configuration, verifiable records, and a reliable dashboard to view chain code.<\/p>\n With its penetration into the real estate sphere of industry, blockchain invalidated the appearance of any third party for the transactions. Further to this, it has facilitated the fractional ownership to a property. With this, the investor can buy, sell, or tokenize the property, holding the sole ownership over its share.<\/p>\n The first deal came three years ago as part of a pilot program by Propy, a California-based property marketplace. Blockchain aids a property transaction by dealing in smart contracts where the users don\u2019t have to worry about getting involved in unnecessary hassle.<\/p>\n As the world struggled its way through the pandemic, blockchain offered its services with safe and effective vaccine distribution amongst the public. Supply chain management, transparency, accountability, enhanced security, trust, and distribution tracking were the attributes of the technology for the noble cause.<\/p>\n The first initiative was launched in the UK, where two NHS hospitals utilized blockchain to track and monitor the storage and supply of thermal-sensitive COVID-19 vaccines. This was welcomed by advancing its application further to track the delivery of other vaccines, drugs, and medical equipment.<\/p>\n It is a movement with the aim to revolutionize traditional financial products and services by relaying them over the blockchain network. Broadly speaking, DeFi products offer access to alternate savings, lending and borrowing services, rapid and cheap payments, secured staking, affordable insurance, currency exchange, and asset tokenization and management.<\/p>\n DeFi has enabled several investors to enter the financial realms through barrier-free entry points, making the markets accessible to a wider range of people globally. This has invalidated the existence of third parties, making peer-to-peer interaction more popular.<\/p>\n It is an efficient and regulated way of investment and capitalization, with a record of all the processes over the blockchain. The cryptographic tokens are backed by assets like corporate stocks, bonds, tangibles like cars, and real estate. These are subject to jurisdictions and are taxable according to the regional laws.<\/p>\nNFTs<\/h2>\n
BaaS (Blockchain-as-a-Service)<\/h2>\n
\nIt has been successfully implemented by biggies like Microsoft, Alibaba, IBM, SalesForce, and Amazon, and is being constantly explored by many startups.<\/p>\nReal Estate<\/h2>\n
COVID-19 vaccine tracking and distribution<\/h2>\n
DeFi (Decentralized Finance)<\/h2>\n
STOs (Security Token Offerings)<\/h2>\n