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With the DeFi frenzy in 2020, many popular cryptocurrencies were born. The crypto industry continued to leap from DeFi to Chain Games to NFTs in 2021, giving birth to the NFT bull market. We briefly review the most popular in the cryptocurrency industry over the past two years and share the lessons we’ve learned from them, before predicting the industries to invest in in 2022.
NFT Madness in 2021
As we look at the evolution of NFTs in 2021, from old NFT projects like Cryptopunks, CryptoKitties to all kinds of high-priced NFT avatars, artworks, celebrities and cultural IPs, and finally Metaverse and games, NFT has become indispensable. It’s part of the current Blockchain world, and 2021 can truly be called the year of the NFT craze.
As of December 31, 2021, NFT’s total market cap reached $11.152 billion, which is 181 times its total market value at the beginning of the year ($61.74 million). When we look at 2021, especially since July, the market has entered an explosive growth with 1,454,000 NFT owners, with 882 whale addresses, NFTs with a value exceeding $ 1 million, which has increased sevenfold since the beginning of the year.
In 2021, the market trend continued, and the funds continued in DeFi, animal-themed cryptocurrencies, NFTs, GameFi, etc. flows into various sectors such as It’s not hard to point out that in 2021 MEXC Global is still reaping the benefits of exploring various industries. That’s why users will always find high quality and trending products at MEXC Global.
According to MEXC Research, the increase in TOP10 currency in 2021 mainly concentrated on NFT/Gamefi/Metaverse/Public Chains (Infrastructure). Three of the most popular GameFi tokens this year were GALA, AXS, and SAND. GALA took second place with an increase of 31,444%. Other lower earning tokens are SHIB, AXS, SAND, MATIC, LUNA, FTM, SOL, ONE, MANA.
Most in 2021 Top 10 winners Crypto Money
First Year of DeFi in 2020
In 2020, also known as the first year of DeFi, which is the most active area of the crypto world, the vast majority of trending legendary cryptocurrencies were included in the market.
The DeFi market expanded rapidly in 2020 and thousands of DeFi projects emerged in the market to compete. These DeFi projects can broadly be divided into lending, decentralized exchanges, stablecoins, oracles, and derivatives. Almost all of these categories have stellar items such as pools from Yearn.Finance, collateral loan from Compound, decentralized exchange Uniswap, stablecoin USDT, ChainLink oracles, Synthetix Derivatives and other projects.
DeFi’s user base has also grown significantly in 2020. As of December 2020, the total number of independent addresses has exceeded 1 million, which is about ten times more than at the beginning of the year. But the number of daily active addresses for each DeFi platform has increased by more than 97 percent year-on-year.
DeFi asset prices have also seen serious increases in 2020. On January 1, 2020, TVL (total locked assets) reached $630 million, according to DeFiLlama website data. It started to rise sharply again in June 2020. It exceeded $1.9 billion on July 1, $4 billion on August 1, and $8 billion on September 1, 2020. By the end of 2020, TVL in DeFi was up 2,789% year-on-year, reaching more than $18.2 billion.
According to MEXC Research, the value of the top 30 DeFi-based cryptocurrency by market cap increased by an average of 191.33% in 2020. In addition, YFI and BAND were recorded as the two best performing DeFi-based assets of the year. Among them, YFI increased by 2.407% and BAND increased by 2.224%.
DeFi was the trending investment industry in 2020. In this wave of DeFi, MEXC Global showed the sharpness of listing as the first company to list popular DeFi projects and was the first station to launch well-deserved quality projects.
Prospects in 2022
After 2021, which cryptocurrencies are worth looking forward to in 2022? This article has the following estimates:
Web3.0
The Internet has been upgraded from Web1.0 to Web2.0, from a simple static desktop web page to an interactive experience, user-generated content, and market economy. Web 3.0 is an open, encrypted metadata store democratically owned and controlled by users worldwide. Unlike the traditional Internet world, the value of data in Web 3.0 will fall back into personal property. Web3.0 has five key features: decentralization and partial centralization, decentralized autonomous organization (DAO), content viewing, personal digital identity, and ownership of digital assets.
cross chain
With the growing blockchain ecosystem, the needs for cross-chain interaction between different Blockchain networks and application protocols are becoming more and more evident, and cross-chain issues deserve attention. DeFi products based on protocols such as Polkadot and Cosmos focus on beneficial attempts by high-performance public chains such as Conflux and Algorand to address performance bottlenecks in DeFi transactions, while unlocking inactive assets and users on BTC through cross-chain technology.
NFT Music Platforms
Today, the two largest dividends in the blockchain market are the technology dividend and the capital dividend. What’s missing is high-quality content productivity and creativity, as well as a broader streaming market. Looking at the music industry, from sheet music to records and the Internet Web2.0, there is no solution to the music dilemma posed by monopoly: there is a huge gap between big record labels and complaining musicians.
In fact, what the music industry needs most is high-quality content output and fan streaming. Blockchains, with their decentralization, traceability, and tamper-evident features, can enable the automated distribution of decentralized and fragmented copyrights, which complement each other and are a great tool for the music industry to overcome its monopoly problems.
Today, the two biggest dividends in the blockchain market are the technology dividend and the capital dividend. What’s missing is high-quality content productivity and creativity, as well as a broader streaming market. When we look at the music industry, from music scores to records and the Internet Web2.0, there is no solution to the music dilemma that monopoly creates: There is a huge gap between big record labels and complaining musicians.
In fact, what the music industry needs most is high-quality content output and fan streaming. Blockchain networks, with their decentralization, traceability, and tamper-evident features, can enable the automated distribution of decentralized and fragmented copyrights, which complement each other and are a great tool for the music industry to overcome its monopoly problems.
The explosion and growth of the arts and games markets on Blockchain makes the combination of Blockchain and the music industry inevitable. Led by the continuous development and improvement of the blockchain ecosystem, it seems imperative to create a blockchain-based global NFT music ecosystem that can be the internal driver of front-line funds and mainstream market to invest in NFT. In 2022, NFTs could be one of the key development directions in music in the future.
Summary
The best investment for investors actually comes from their own perception. In retrospect, choosing the right investment sector may result in the greatest gains, but knowing this individually has always been limited. From DeFi to NFT, NFT to GameFi, GameFi to Metaverse, and Metaverse to Web3.0, we’ve seen MEXC Global focus on “exploring trendy industries with high-quality projects.” MEXC Global has become the first stop for high-quality projects due to a whole range of exchangeable cryptocurrencies with faster project listing. Almost every quality asset has been found to be marketed at MEXC. Since 2020, hundreds of quality projects have been listed on MEXC before being listed on Binance and Coinbase. Looking ahead, following the MEXC Global sectors and selecting high quality projects from them can be a quick way to profit.
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