2021 has been an eventful year for Cryptocurrency and its allied technology as the industry’s tremendous growth this year saw its total market cap surpass $3 trillion at its peak.
Fielding a growth spurt that had no rival all through the year, the industry’s growth was accompanied by many notable events that had far-reaching effects that extended past the industry boundaries.
Some of these events will be summarily discussed, ranging from social media wars to exciting press releases and cyber warfare.
Bitcoin Proponent And Twitter CEO Jack Dorsey Resigns From His Corporate Position
Post Twitter exit, the crypto whale raised a storm on Twitter when he accused web 3.0 backers of ulterior motives that aimed to centralize the decentralized protocol.
Crypto Billionaire Drowns In Costa Rica
In June, Mircea Popescu, a Bitcoin gospel preacher based in Costa Rica, died in his pool in his residential home. A $2 billion crypto portfolio was reportedly left behind.
Bitcoin’s Taproot Upgrade
The primary coun is the most consecutive Cryptocurrency in the industry. Compared to its counterpart altcoins, it enjoys dominant stability, which is perceived as a strength and a weakness in the industry.
However, in 2021 the primary coin made waves in the industry that saw it feature an upgrade for the first time in half a decade, the Taproot upgrade.
SHIB Overtakes DOGE By Market Capitalization
Dogecoin killer Shiba Inu sang true to its appellation as it shortly overtook the number one meme coin in the industry in October.
A $600 million DeFi Exploitation
Exploitation attacks have become a norm in the crypto industry; however, it becomes extraordinary when a hacker steals over $600 million worth of crypto from Poly networks. Negotiations saw the attacker return all the crypto stolen after a few weeks.
Coinbase Launches Crypto Profile
The United States’ largest crypto exchanger made headlines globally on mainstream media with its phenomenal public listing that many had anticipated for over a year. The launch took place in April, and it set a precedent in the industry.
Beeple’s NFT Auction Sucess
Digital artist and photographer Mike Winklemann auctioned his non-fungible token at a record tag of $69 million, which stunned the community globally. The successful sale of his ‘Everyday’ series silenced critics and skeptics alike.
Cardano’s Smart Contract Goes Online
After promotion campaigns and tallies that lasted for months, Cardano dispensed its smart contracts. The smart contracts that leveraged ether networks faced a lot of controversies post-launch.
$6 Billion SHIB Exhumed By Ethereum Co-founder
Vitalik Buterin, the co-founder of Ethereum, burnt over 90% of his SHIB tokens and donated the rest to charity. The tokens were a gift by SHIB’s anonymous creator, and they were reportedly forced on the billionaire.
Dogecoin Crashes Miserably Post Elon Musk’s ‘Hustle’ Joke
The number one altcoin crashed as fast as it rose after its promoter, billionaire Elon Musk joked that the meme could be considered a ‘hustle’ for him in May. The meme coin hasn’t regained its price value since.
Bitcoin’s Market Cap Hits $1 Trillion
The year 2021 was a particular year for the primary coin; it breached the $1 trillion market cap mark this year for the first time earlier I’m February. However, its market cap has dropped below the mark and now seats at $887 billion at year-end.
El Salvador Adopts Bitcoin As Legal Tender
The Central American country shocked the world when it adopted Cryptocurrency as its second legal tender earlier in May. However, the radical move received a backlash from El Salvadorians as the nation saw unrest and protests that lasted a while.
SEC Inaugurates New Chairperson
The United States Securities Exchange Commission (SEC) inaugurated a new chair in the person of Gary Gensler, who was sworn in in April. The regulator has adopted an anti-crypto stance in the country which resulted in many critics in the industry.
China Clampsdown On Crypto Miners
The outlaw of crypto in the Asian country is nothing new in the global crypto community. However, the government took things to the next level when it closed down all crypto mining operations within its border in 2021.
Tesla Acquires Bitcoin
Tesla’s move that saw it acquire over $15 billion worth of BTC stunned the members of the crypto community and beyond. The adoption of Cryptocurrency increased the industry’s relevance in the traditional finance sector globally.