Bobos & Wojaks

Get rich or die tryin

Crypto Highlights 2021

    • Cryptocurrency market cap hits 3T+.
    • El Salvador makes BTC legal tender. An absolute landmark event for Bitcoin
    • The NFT mania begins earlier this year, and hits a peak in August. The NFT.NYC event in particular sees an attendance of over 5000 people. Beeple’s “Everydays”is currently the most expensive one sold, at 69.3m USD.
  • crypto-currencies
    • Dog coins see plenty of noobs buying in. Floki goes as far as even getting advertisements in airports.
    • Layer 2 protocols blow up in the light of extremely high ETH gas fees: SOL, AVAX, FTM, MATIC and BSC in particular do well.
    • Saylor does what Saylor does and has stocked up on Bitcoin throughout the year.
    • Tesla buys and accepts bitcoin, then sells a portion and stops accepting bitcoin citing environmental issues.
    • More regulations from various governments, but still the end goal is still unclear. The EU’s proposal seems to be the only one that seems well researched, thus far.
    • goes ballistic on marketing, and also buys naming rights to Staples stadium.
    • Paypal accepts bitcoin for transactions.
    • Kusama and Polkadot auctions are a grand success.
    • Germany leads the way for EU with their Spezialfonds law
    • China bans crypto – AGAIN. This leads to miners moving to more miner-friendly countries, leading to a US based mining pool (Foundry) achieving 17% of global bitcoin mining power.
    • Cardano launches smart contracts.
  • Bitcoin ETF – still a no go, but seemingly likely in 2022.
  • Several newbie investors fomo in on meme/shitcoins in hopes of getting rich quick. Safemoon and Shiba in particular stand out. And then we have the Squid game token, which no one was able to sell.
  • Defi hacks: Several billion dollars were stolen in public defi hacks. Among the most popular are Snowdog, Cream, Finance and Poly. Poly in particular being something that could end up being a series, with the hacker returning the stolen funds.
  • Mini bear market preview in the summer, with everything going down about 50% or so. Those who loaded up on solid coins/tokens at this time have at the least 2x’d their investments.
  • DeFI becomes more mainstream. Almost 300b in TVL at the moment.
  • ETH continues to push to a PoS system.
  • USDT comes under fire several times over the year, but the bubble is yet to burst.
  • The Turkish Lira loses over 40% of its value, and Turks consider using crypto as a means to hedge against inflation.
  • MOONs hit ATH of $0.39.
  • The Metaverse mania is here. My own take aside, this is the current hype machine.

And a quick take away of the current top 5 and their performance (YTD, as of 2 December):

  1. BTC: 107.03%
  2. ETH: 526.81%
  3. BNB: 1596.88%
  4. SOL: 14941.56%
  5. ADA: 866.02%

In the top 50, Shiba is the undisputed winner with an increase of a staggering 5548371%, followed by GALA at a modest 48278%.