Cryptocurrencies: new hopes, fears, and predictions for 2021

  • 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.

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