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Get to Know About Current State of Crypto Market – Crypto News Today

The bitcoin industry is expanding at a potential rate. The combined market capitalization of all cryptocurrencies has already surpassed $2.2 trillion. Furthermore, cryptonews today projected that there are over 300 million cryptocurrency users globally.

In this new research, we’ll discuss the most important developments in the crypto industry right now (in 2021). And those that are expected to last until 2025 or beyond.

Institutional Adoption and Expanded Terms of Crypto Ecosystem

Historically, financial institutions and huge organizations have approached the bitcoin environment with mistrust. Many institutions are now actively allocating funds to this sector.

Nowhere is this more evident than in the asset management business. By the end of 2020, the crypto asset class has received $15 billion in institutional assets under management. This compares to little more than $2 billion at the end of 2019. (a 5x increase).

Furthermore, assets in the Grayscale Bitcoin Trust (the sole route for many institutions to gain bitcoin exposure) increased by 900 percent in 2020.

Multiple Bitcoin All-Time Highs

BTC had a 103 percent price return in the first quarter of the year, and it repeatedly reclaimed its all-time high price peaks. The following are the key driving reasons propelling forex liquidity pool to new highs:

  • Bitcoin’s inclusion in exchange-traded funds (ETFs), providing institutional and ordinary investors with new investing options.
  • Institutional investors are joining the market, and public corporations purchase BTC as an inflation hedge (public companies hold 0.95 percent of the total supply). The IPO of Coinbase and the growing adoption of the cryptocurrency industry
  • Visa, Mastercard, and PayPal are embracing cryptocurrency and accepting crypto payments.
  • Increasing inflation. The United States central banking system has printed two-thirds as much money in the last six months as it has in the previous 11 years.

These considerations show that demand for Bitcoin is increasing, but supply remains constrained at 21 million units.

Growing Crypto Market and the Rise of DEX Coins

Since the beginning of the year, the DeFi market value has increased 382 percent, reaching a new all-time high of $95.7 billion. Total Value Locked (TVL) on Ethereum and the Binance Smart Chain has surpassed $72 billion.

The continuous expansion of DeFi in Q1 is connected with an increase in other DeFi sectors. During this time, Ethereum’s stable currency supply nearly quadrupled, the DEX volume grew 2.5 times, and the total amount of outstanding loans climbed three times.

DEX native tokens such as UNI, SUSHI, and CAKE account for over half of the total DeFi market cap. These three coins had a significant increase in Q1. For example, on January 1, the cost of one CAKE was around $0.64, then at some moment, the price rose to $44.18.

Final Verdict:

The multi-chain concept is becoming increasingly prevalent. As a result, projects are fleeing the escalating expenses of the Ethereum network in search of alternatives and a new audience. Many businesses are getting ready to start on Polkadot.

A project’s multi-chain nature is frequently regarded as the future of blockchain technology. cryptonews today believes that as a result, initiatives that enable interoperability and the free movement of liquidity across several blockchains will continue to flourish and acquire consumers.

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