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The Amazing Things of Cryptocurrency in 2021

The Amazing Things of Cryptocurrency in 2021

Cryptocurrency is the fastest appreciating asset class in human history, it's also one of the fastest ways to lose your money, but which coins are the good ones today I want to put six cryptocurrencies on your radar and well I don't know what the prices are going to do tomorrow and neither do you nobody can see the future. 

Today into 2021 they're doing some pretty amazing things.

1. Historical Volume

The first coin you need to know about is bitcoin, it is the most censorship-resistant it's the most decentralized, and we are seeing historic volumes come from publicly traded fund institutional on-ramp bitwise. 

So just as a reminder bitwise is a way for financial advisors or anybody that trades stocks to be able to take out a position in bitcoin.    

In fact, in a direct quote from their CEO as more and more financial advisors and investment professionals looking to establish an allocation to crypto in their portfolios a professionally managed index fund, Bitwise is offering, but something like this is a familiar and important tool and they just launched a few days ago under a public ticker symbol.

Crypto fund bitwise asset management today announced that traders shifted more than 67 million dollars into them, worth of shares of its new crypto index fund in the first three days of trading. 

so if you're questioning where this demand for bitcoin for the cryptocurrency is coming from.

This should answer that question bitwise claims that this three-day opening volume number, beat rival greyscale's record for the grayscale ethereum trust, which traded a little over nine million dollars in its first three days last June, and for a while, the grayscale was one of the only games in town now more are popping up.

They're getting competitive if you ever want to check any of this the ticker is bitw and there are actually 10 cryptocurrencies in this fund but bitcoin is weighted in there the most it's composed of 75 bitcoin 13 ethereum and 12 scattered around xrp litecoin chain-link tezos and a few more.

This is probably going to be how most people get exposure to their first piece of bitcoin or crypto as financial advisors allocate some of their client's portfolios into this as we get more information we'll make an article that keeps you updated let's keep going bitcoin was actually.

2. Used by Circle

Tie between urine finance and ave, this is major circle the company behind ethereum's usdc is launching high-yield digital dollar accounts with 8.5 to 10.75 apy, that's a huge amount of yield of interest.

now, where does the high yield come from funds that borrow usdc the stablecoin at 8.5 % from the circle.

This off-chain arbitrage will be a liquidity vortex for d5 protocols, what do you think? I guess my main takeaway and no other crypto channel seems to be reporting this but reputable company circle is offering their customers high-yield digital dollar business accounts.

Here are the terms here's the interest and they're using relatively newer protocols urine finance and ave, to do that this is a huge sign of support circle given the green light to these two newer defy coins/protocols.

and if you're asking well wait, circle bank is depositing user funds into urine and ave not directly per disclosures in their site genesis and other institutional borrowers I guess would be depositing their funds so I guess it's not the user funds, but it's other institutional borrowers.

3. Joins Google, IMB, Microsoft Initiative

By 2021 is band protocol, they have become the first blockchain project to join the open API initiative and the reason that is such a big deal is that they will join an initiative alongside big names such as google eBay IBM, and Microsoft.

Now all working together to do the same thing what will they do they will help the project create a common API standard enabling blockchain applications to easily leverage APIs and data an API as a reminder is a software intermediary allowing applications to access data and in effect talk to each other and that's what band much like chain link is doing with blockchains.

But the oracles so what is the benefit to google to IBM to Microsoft to ban protocol the potential benefits of the work are said to include new revenue streams for tech firms who can sell their data in price feeds to smart contracts better data security and thus less hacks and creating decentralized apps that can interact with centralized technologies.

So obviously a big deal in a direct quote from the CEO of banned protocol our mission is to define a common API standard for blockchain applications by collaborating with prestigious partners to bridge the gap between centralized data APIs and smart contracts on n the blockchain.

Band protocol now has a seat at the table, what do you think? uniswaps token because it looks like uniswap protocol passed 50 billion dollars in all-time volume last week. this is split across over 26000 unique trading pairs of different coins on the exchange.

As a unit swap holder just how potentially big this could be this exchange this dex into next year who is nipping at uniswap's heels according to dune analytics uniswap represents about 60 % of the weekly dex volume followed by zero x surprisingly with almost 13%.

It’s going to be an interesting 2021

Of course, predictions are just that – predictions. No one could have foreseen that the likes of Bitcoin, not to mention all of the altcoins we’ve just mentioned, would enjoy such a surge as 2020 drew to a close. 

Traditionally, these cycles tend to take place every four years, meaning that we’re about a year earlier than usual. Does this mean that fireworks are in store for the next 12 months?

Yulina Firmansyah
Yulina Firmansyah Hi, I am a wife who really loves crypto and blockchain technology, I am a writer for this blog.

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