Cryptocurrency 's been around for ten years now, and it's been through its great amount of ups and downs. From the highs of Bitcoin's all-time saturated in 2017 to the lows of 2018's bear market, cryptocurrency has had both its believers and its skeptics. So, artificial intelligence directory or alive?
Crypto Trading Volume Is Thriving
One way to gauge whether crypto is alive or not is by looking at global trading volume. At the time of April 2021, daily global crypto trading volume reached an all-time a lot of $68.6 billion USD — a huge increase from 2020's average daily level of $12 billion USD. This surge in activity shows that folks continue to be thinking about cryptocurrencies, especially if they can be utilized as investments or traded on exchanges. Additionally, this escalation in trading volume might be attributed to an influx of institutional investors entering the space. These investors have brought with them large sums of capital and an overall interest in cryptocurrencies which could have catalyzed this growth in trading activity.
The Rise Of DeFi & NFTs
Another sign that cryptocurrency is definately not dead is the rise of decentralized finance (DeFi) protocols and non-fungible tokens (NFTs). DeFi protocols enable users to access financial services such as for example loans, borrowing, and insurance without having to use traditional financial institutions like banks. NFTs are digital assets stored on blockchain networks that represent physical objects such as for instance artwork, music, or virtual collectibles like CryptoKitties. The fact that these two technologies have exploded onto the scene shows that there surely is still a lot of innovation happening within the crypto space despite its perceived slump during 2018-2020.
Growing Adoption & Awareness
Finally, one major indicator that crypto isn't going anywhere any time soon is growing adoption and awareness amongst everyday people. In accordance with a survey published by Finder in 2020, 16% of Americans report having owned Bitcoin at some point – up from 8% just 36 months earlier in 2017! That is clearly a 100% increase over just three years! Additionally, more businesses are beginning to just accept cryptocurrency as payment for goods and services - another sign that crypto is now mainstream. As more individuals become aware of what crypto may do for them financially - from investing opportunities to low transaction fees - it's likely we will see much more adoption over time.
Conclusion:
All signs point towards cryptocurrency being definately not dead — quite the opposite actually! With increasing quantities of trading activity along with growing adoption and awareness amongst people plus innovative new technologies such as for example DeFi protocols and NFTs entering the scene — it appears like crypto is here now to keep! As long as blockchain technology continues to advance so too will cryptocurrency markets; rendering it an increasingly attractive choice for savvy investors around the world.