When we look back at 2021, we’ll recognize it as the year many began taking cryptocurrencies seriously for the first time. Bitcoin (CRYPTO: BTC) saw mainstream adoption from companies like Tesla (NASDAQ:TSLA) and Microstrategy (NASDAQ:MSTR), and celebrities such as Jimmy Fallon, Eminem and Snoop Dogg flexed NFTs on Ethereum’s (CRYPTO: ETH) network.
Hype aside, there was real building going on to get where we are today. According to a recent Electric Capital report, about 50% of developers working on building Web3 began doing so in 2021. Moreover, the DeFi industry grew to over $200 billion in total value locked inside of smart contracts. The clear leader in DeFi is Ethereum, but Solana, Avalanche, and Binance Smart Chain also saw astronomical growth last year.
