2021 was another great year for crypto. There were some important newsworthy events that happened during the year. So here is a list of the top 5 crypto news of 2021 that got most of us excited.
Top 5 Crypto News of 2021
Some crypto exchanges have had explosive growth over the years since their inception. It was inevitable that at some point one of them would want to be listed on a stock exchange.
As a result that moment finally came back in April when Coinbase got listed on the Nasdaq.
The Coinbase reference price before it started trading was set for $250. However the stock had a good start and climbed up to $429.54 before it went down to $310. For the rest of 2021 Coinbase stock traded mostly sideways.
Growing Global Crypto Adoption
As cryptocurrency gets more attention people consequently tend to adopt it at a greater rate. Crypto adoption is spread across retail and institutional markets. However Chainalysis analysed what ordinary people are doing as opposed to looking at trading and speculation.
In October Chainalysis published an article called the 2021 global crypto adoption index. They pointed out that worldwide adoption jumped over 880%.
NFTs have existed since 2014, but this year has been a fantastic year for them. There has been growing awareness and interest in NFTs. This is partly thanks to Beeple who sold an NFT artwork back in March 2021 at Christie’s.
As a result of NFTs growing popularity they reached a total of $23 billion in market cap.
In fact NFT trades in 2021 surpass market caps of Nissan and domino’s pizza.
El Salvador Makes Bitcoin Legal Tender
Without any doubt one of the most important top crypto news of 2021 was El Salvador making Bitcoin legal tender. To clarify El Salvador has both the US Dollar and Bitcoin as legal tender at this point.
The President Nayib Bukele of El Salvador is optimistic for the future of El Salvador. He believes El Salvador needs to break away from old paradigms which are not working for the country. That is to say he wants to bring El Salvador into the First World. President Bukele believes Bitcoin is the way to do it.
El Salvador Volcano Bonds
El Salvador was in the news quite often in 2021. President Bukele embraced Bitcoin and the Bitcoin community. On the other hand the Bitcoin community were helping the President by and supporting him any way they could.
In fact the President announced El Salvador is offering volcano bonds. Samson Chow is the main advisor, additionally he is the Chief Strategy Officer of Blockstream.
The bonds are issued using a service of Blocksteam called Liquid. However El Salvador’s central bank and the Bitfinex exchange are in full control of the bonds.