Interestingly, 90% of India’s private investor pool was added to itself this year as crypto investment became a hot topic in the town.
Raj A Kapoor, founder of the India Blockchain Alliance, said:
According to various reports and statistics, the market capitalization of cryptocurrencies reached $ 3 trillion during the year. VC funds have invested more than $ 30 billion worldwide. This is more than the total investment made in the last decade.
Despite skepticism and a deadly pandemic, crypto investment is skyrocketing in India. The Chainalysis Report ranks India in 11th place out of 154 countries in the adoption of cryptocurrencies.
2021 is remembered as the mainstream year Cryptocurrency Hitesh Malviya, founder of Itsblockchain.com, said recruitment has increased due to the significant increase in demand from individual investors, especially in India.
Thanks to Elon Musk’s tweet, Dogecoin dominated the first half of the year when Dogecoin succeeded in a large rally. In the second half, the second stage meme coins such as Shiba Inu and Floki dog followed.
“Retail investors are betting heavily on meme coins. In India, more than 60% of trading volume is spent on meme coins,” Malviya claimed. “”Memecoins They lack fundamentals so they won’t last long. Meme coins like the Shiba Inu can be expected to die in the next bear cycle. ”
Last but not least, the proliferation of NFTs was the biggest trend in 2021 supported by art lovers, athletes and celebrities around the world who digitized and tokenized art.
Dileep Seinberg, founder and CEO of blockchain and crypto consulting firm Thinkchain, said the implementation of NFTs and the future potential of Metaverse are the biggest trends of the year. He added that a world like The Matrix would become a reality.
“More than half of new investors are considering crypto assets and there is a large influx from institutional investors,” says Seinberg.
“Several high-value unicorns come from crypto space.”
The rise in NFTs was strong, with global NFT sales exceeding $ 10 billion this year and $ 60 million in 2021.
According to Seinberg, Web3 suddenly became a fad without a clear difference from the main Web. “People have adopted cryptography and there is a positive move around the ongoing debate,” he added.
The CBDC was another interesting trend that emerged among major economies after China began piloting the yuan. Interestingly, more than 80 countries, which account for more than 90% of the world’s GDP, are investigating the CBDC.
The crypto market is moving at an alarming rate of innovation, with new trends emerging every day. You need to invest more time than money to understand market trends and emerging technologies.
“Tokenization will be the key and the tokenized economy will evolve,” Kapoor said.
He believes that virtual wealth outweighs all physical wealth and that the development of blockchain technology will lead to a significant improvement in the standard of living in the world.
He added that in the future blockchain era, $ 1 trillion enterprises will be replaced by $ 1 trillion tokens that will support a decentralized ecosystem and together play the role of megacorporations.