Looking forward to 2021, there are some interesting, famous and important trends. One of them is related to trends of digital assets circulating throughout the world famously called Cryptocurrency. Crypto has followed several trends till its birth from being an unknown entity to the people around the world to the most famous digital currency now used by some of the most influential and famous authorities in the world. Now as the year 2020 has passed in several crises but the market of crypto doesn’t fall in back hands neither the transactions related to it went in downfall, rather we saw a major surge in the transactions related to it in the previous year.
This article will help you understand the recent important trends in the field of cryptocurrency.
- Halving: As the word suggests it means that the reward that the block chain miner was getting first will get halved. Though the trend of halving happened in the past as well but this trend in the present scenarios around the world is an important one. According to the studies done in 2020 the event of halving occurs every four years. In the year itself the price growth in the bitcoin supply made the commodity expensive. The present latest trend will surely attract the investors and also the miners to get enough earnings.
- New entries in the market: Cryptocurrency being the leading entity in transactions has attracted many giants to come up with their own digital currencies. The year of 2020 was the crypto friendly year and it tempted the companies like Libra, JPM, Mastercard and Visa to launch their own Digi currencies. If you are interested in bitcoin trading then you should read more details here
- Introduction of Laws governing trade of cryptocurrencies: Many countries after legalizing the digital currencies have found a dire need of law preferably an international law that can govern and regulate the payables and receivables in the form of crypto in the market. The fluctuations that the market saw in the recent years regarding the rates and their value made the governments go aware about the safety during transactions. It is justified that the cryptocurrencies will not experience any downfall but the laws will be there and that too different for different regions and continents. Many countries have legalized their currencies after consulting their regional law-making bodies. Like in Canada they have FinTRAC that came into existence on june1 2020 to regulate the country based digital transactions dealing in the cryptos.
- Survival the fittest: Adoption is always good and beneficial for survival. According to the studies the adoption has always defeated the one that stuck to the theory of non-adoption. Similarly, the adoption of the prices of crypto will make a massive difference. The crypto market has the capability to evolve without the key driver and it’s pretty sure that it will go for it. XRP being an exception because its adoption can make a difference. XRP has the tendency to transact from one currency to the other. Collaborated with Ripple and MoneyGram it has raised $200 million to boost the adoption process. At present there are 99% cryptocurrencies that have no sign of adoption but as the time will pass, they will also come to the pipeline like that of XRP.
- Artificial intelligence to combine the blockchain: This year the AI can be seen combining with the blockchain to refine the total number of cryptocurrency transactions. The AI blockchain is more secure and it provides more flexibility and security making the traders to trust digital trading.
The bottom line
In 2021, the cryptocurrencies will slowly and surely will integrate into the financial ecosystems. The year has brought new expectations, excitements and more speculations in this field. So, get ready for the future developments in this world of digital currencies.