Cryptocurrency prices peaked in 2021 at $68,789 per Bitcoin (BTC). This marked a turning point for the whole industry. Between January 1 and November 10, the price of Ether (ETH) climbed by 565 percent, reaching a record high of $4,859 per token. But lately, there are lots of lost cryptos, read this to know more on the truth about lost Bitcoin.
During 2018, the Altcoins market surpassed the large-cap cryptocurrency industry in terms of growth and adoption of blockchain technology and cryptocurrencies, especially in the areas of decentralized finance (DeFi) and Non-Fungible tokens (NFTs).
The following is a list of the top Altcoins projects that made a significant influence on the cryptocurrency ecosystem in the year 2021.
By removing the hurdles to entry prevalent on centralized exchanges, DEXs like Uniswap, which launched in the summer of 2020, have helped hundreds of new crypto companies get off the ground.
In the course of the year, Uniswap was the most often used DEX, as determined by Dune Analytics. Second half of 2021 saw an increase in volume due to activity on the decentralized exchange Uniswap.
Even though Uniswap version 3 had been launched in March of 2021, its inventors indicated they were working on an updated version of the protocol at the time. Reduced transaction costs and processing times are possible with the inclusion of layer-two scaling solutions like Optimism and Arbitrum in Uniswap.
AAVE is a DeFi lending mechanism that allows you to invest your tokens and get a return on your investment (AAVE). As the DeFi sector began to gain pace in early 2021, AAVE soon gained popularity as a preferred option due to the availability of a broad selection of crypto assets and the assistance of numerous well-funded players. In addition to Polygon and Avalanche, which are both prominent cross-chain blockchain networks, AAVE v2 has been a scaling solution for layer two since 2016. (AVAX). First and foremost, AAVE has topped the DeFi protocol rankings in terms of total locked value for the first time ever (TVL).
Curve Finance is able to maintain liquidity on the platform and across the DeFi ecosphere via the use of an automated market maker. This year, stablecoins will be a need since they offer a safe refuge for traders during instances of extreme volatility. Stablecoins have been more popular in recent years, and the Curve protocol and its native stablecoin, CRV, have been able to take advantage of this trend.
According to DeFi Llama’s figures, Curve has overtaken AAVE as the second most used protocol in terms of TVLs (total volume of transactions). With the addition of Ethereum, Avalanche, Harmony xDAI, Polygon Arbitrum and Fantom to its stablecoin network, Curve has shown that it intends to become the primary stablecoin liquidity provider for all of the crypto market.
- Axie Infinity
Axie Infinity, a P2E trading and fighting game, allows users to purchase, breed, train, and battle NFT-based monsters known as Axies and to trade them, among other features. Since the P2E model enables gamers to generate money while they play rather than relying on a traditional pay-to-play model, it has become the new standard among gamers.
As interest in Axie Infinity has grown, so has the price of the AXS token. A high of $17.55 million in daily revenue was reached on August 6. After Ethereum’s high costs and slow transactions, Axie Infinity was the first project to leave. After moving to Ronin sidechain in January, the project launched its own decentralized exchange (DEX) in November, which it dubbed Katana.
It is certain that Dogecoin (DOGE) is a well-known “meme” cryptocurrency that has been generating headlines since its launch in early 2021.
Doge’s price has risen from $0.0031 on January 1 to an all-time high of $0.74 on May 8, despite the fact that the project has received no technical or development aid from celebrities such as Tesla CEO Elon Musk and Shark Tank star Mark Cuban, among others.
Because of SpaceX’s announcement that it would utilize Dogecoin to aid in funding the launch of a lunar spacecraft, the meme-coin movement exploded, resulting in the creation of a swarm of copy-cat efforts such as Shiba Inu (SHIB) and Dogelon Mars. As a consequence, the value of the token increased significantly (ELON).