This 2020 wasn’t the easiest year for humanity, but, ironically, it was very good for the Fintech industry and the cryptocurrency world. That’s because in these times of need people have encountered a safe haven in technology.
Bitcoin and cryptocurrencies have worked as effective methods of investments, store of value, remittances, and financial inclusion. At least, they represented a light amid the darkness, and a bright future is going ahead for them.
Given these good results and other trends, we already have some fears, hopes, and forecasts for 2021. But something is sure: more crypto is coming!
- Facebook will (probably) launch its own digital currency, now renamed Diem instead of Libra. Apparently, it’ll be a stablecoin backed on USD, and it’s pending regulatory approval [Diem].
- Stablecoins can grow even more. Its total market capitalization increase this year surpassed 400% and, with DeFi on the table, the increase is promising to go further. Tether, USD Coin, and DAI lead the market [CoinGecko].
- Speaking of crypto-laws, the U.S. Securities and Exchange Commission sued Ripple Labs for allegedly having carried out a “$1.3 Billion Unregistered Securities Offering”. XRP price has lost 60% and some exchanges are delisting it as a direct consequence, but this legal battle is barely starting. Sadly, the next year could even bring more crypto-companies being sued by SEC and several others abandoning the United States because of it.
- Privacy coins like Monero (XMR) or Zcash (ZEC) could be banned in some countries since they’re considered a financial threat (i.e. used for money laundering or terrorism financing) by certain authorities.
- Crypto is everywhere. We surpassed 101M cryptocurrency users in 2020, and there are more to come.
- Since the prices are going up and the adoption is clearly growing, cybersecurity firm Kaspersky Lab considers that the Bitcoin thefts will increase by 2021.
- Joe Biden’s victory for the United States presidency and the hopes for an effective vaccine might drive up stocks, oil, and Bitcoin, according to Reuters.
- On Alfacash, we’ll have a new Visa program, more discounts, benefits, and new features.
Now it’s time to leave the bad things behind and move on to a brighter future. Keep calm and trade cryptos, because they’re going up! And don’t forget to check our December and 2020 summary of the crypto-world this year.
From the Alfacash Team, we wish you a Happy New Year and a lot of good trades this 2021!
Originally published at https://blog.alfa.cash on December 31, 2020.