Those who have not yet invested in cryptocurrencies will find it is an excellent time. Experts say the digital asset market has many upward trends and will be king for a long time to come. You will find out about a crypto casino, what modern technologies are available to use in the market.
What is the Cryptocurrency Market?
Cryptocurrency is an economic system with free enterprise and limited government intervention. There are presently myriad of assets and methods to hold them-cryptocurrencies, altcoins or tokens, futures contracts on crypto prices and NFTs not generated by humans but rather through AI Technologies.
Today, the cryptocurrency market has thousands of assets, and their total capitalization is over $ 300 billion. Cryptoeconomics is an objective fact. It began with the arrival of just one cryptocurrency--Bitcoin, and became a massive industry.
The unique thing about the crypto market is that it develops in parallel with, but not as part of the traditional financial system. That means crypto investors can make money even if the entire global economy is tanking. There is only the need to correctly understand current trends and popular cryptocurrencies.
Current Trends
The cryptocurrency market has always developed rapidly. Over the past few years, many new projects have been launched and old ideas that have proven their viability have taken hold. Let's look at the main trends in the cryptocurrency market that will dominate in the near future.
Emergence of New Platforms
The active development of the industry entails the emergence of more and more new platforms for working with cryptocurrencies and making money on them. Among the new projects, the Bitcoin Investments exchange, which was opened on October 1, 2020, attracted our attention. This platform can rightfully be called the cryptocurrency exchange of the future. It was designed specifically for highly efficient stock trading.
Unlike other platforms, Bitcoin Investments operates on a trust management system. Using the service, investors can place their assets at the disposal of a team of professional traders who will not only be able to profitably invest every dollar, but will also competently develop a system of risk diversification.
DeFi
Last year could definitely be called the year of DeFi. Just as ICO fever gripped the industry in 2017, decentralized finance has taken over the market in 2020.
In 2021, the DeFi market continues to develop further. The concept of decentralized finance is broad and covers various aspects – lending, monetary and banking services, decentralized markets. Currently, more than $43 billion is locked in decentralized finance smart contracts, according to DeFi Pulse.
Stablecoins
Since 2020, stablecoins – cryptocurrencies whose value is backed by the dollar or other traditional assets – have become increasingly used. Over the past year, the use of such coins has increased by more than 500%. Industry experts continue to predict growth in this area of the industry and even, looking ahead, call stablecoins “the most commonly used payment system in the world.”
A Step Towards Settlement
2021 will most likely be the year when cryptocurrencies receive tax regulation. Changes are indicated by the massive introduction of personal identification procedures, the development of a protocol with the ability to track transactions, and the gradual adoption of legislation on cryptocurrencies in various countries.
This trend is understandable. The capitalization of the digital asset market continues to grow, and central banks and government agencies are paying more and more attention to this area of the economy. The crypto market is becoming mature and the government sees potential (and even threat) in it.
On the one hand, the emergence of legislation regulating the circulation of cryptocurrencies could provide entrepreneurs and investors with some clarity. On the other hand, this may lead to government restrictions.
Anonymous Cryptocurrencies
Anonymous cryptocurrencies and their users resist regulation. Not everyone is happy with the trend toward government control over cryptocurrencies. Therefore, anonymous cryptocurrencies are also actively developing in parallel.
Tax regulation of the digital economy will also make it attractive to open legal projects that resist this. In other words, you can expect the emergence of unique crypto-offshore zones. And, most likely, such zones will be countries with well-developed IT technologies. For example, Japan, Korea, Singapore, Switzerland. NFT or tokenization of everything
In implemented DeFi protocols, you have already seen the tokenization of traditional assets: such as national currencies or precious metals. The new NFT technology allows you to tokenize literally any asset, be it property rights, a piece of art or a gaming item.
Non-fungible tokens have become one of the main trends of this year. And, since almost all areas of human activity can be digitized using NFT, it is expected that this area of cryptoeconomics will only develop in the future.
It is always difficult to make forecasts for cryptocurrency, since the situation on the market can radically change the vector at any time for many reasons. But the main cryptocurrency of the market so far shows only confident movement forward, and as you know, the value of Bitcoin is usually followed by the entire market.
The reason for the recent sharp growth of Bitcoin was another halving, which reminded society that the number of coins is limited. This gave rise to a new fever in the pursuit of military-technical cooperation, the cost of which has increased several times against the backdrop of a shortage.
