Category: Cryptocurrency News

Bitcoin has had a favorable year in 2021 but the altcoins have dominated the market. The advent of the alt seasons this year had seen multiple altcoins rally towards new highs even when market-mover bitcoin had remained stagnant at times. This move, coupled with the growth and adoption that rocked the crypto space this year, has proven that the altcoins dominated the market on a large scale. Altcoins Rule 2021 So many new things came out of the altcoin industry this year and have found success at the same time. Basically, the year 2021 has been one long alt season when we look at the performance of some of these assets. Related Reading | The Year In Review: An Emotional Rollercoaster For Crypto Investors A lot of this growth has been driven by decentralized finance (DeFi), NFTs, and most recently, the metaverse gaining popularity among investors. These have brought to the forefront some interesting projects that have had their tokens rally because of it. Most of the time, they followed the growth of bitcoin. While at other times, these assets broke free and rallied on their own accord. Altcoins market cap at $1.32 trillion | Source: Altcoins Total Market Cap on TradingView.com This has led to bitcoin losing a significant portion of its market dominance to altcoins. Starting the year out at about 75% of total market dominance, it has now fallen to 38% where altcoins have continuously eaten into the pioneer cryptocurrency’s market share. Ethereum was, as always, leading this charge as it took the largest chunk of the market share. Memecoins also found favor in the market this year. Coins like Dogecoin and Shiba Inu grew into the thousand and million percentile, as well as “ETH killers” also making a play in the market. Mid-Caps Take The Lead Altcoins always showed out in the indexes with triple-digit gains for the year. Bitcoin which had a tremendous run of it this year still recorded the lowest gains being the only index that returned double-digit gains. All other indexes, the small, mid, and large cap indexes enjoyed the majority of the gains. Related Reading | Bullish Signal? Ethereum Market Dominance Sitting Above 20% Bitcoin’s returns for the year only came out to 73%. While this is still vastly ahead of top investment vehicles like gold, the S&P, and NASDAQ, it still performed poorly in comparison to the other indexes. Mid Cap Index records highest returns of 2021 | Source: Arcane Research The Large Cap Index saw the second-lowest returns with 179%, but even it saw returns over 100% higher than that of bitcoin. The Small Cap Index made a splash with returns reaching as high as 485% for the year. Finally, the Mid Cap Index came out as the winner for 2021 marking returns of 830%. This index consists mostly of Layer 1 tokens which had seen some of the most gains for the year, outperforming even ethereum despite its massive 485% returns for the year. Featured image from Investment U, charts from Arcane Research and TradingView.com

Nasdaq-listed Microstrategy has bought more bitcoin for its corporate treasury. The latest purchase for 1,914 coins has raised the company’s total cryptocurrency holdings to 124,391 bitcoins. CEO Michael Saylor recently said that he expects the price of the cryptocurrency to eventually reach $6 million. Microstrategy Has Purchased More Bitcoin The pro-bitcoin Nasdaq-listed company Microstrategy has […]

Cardano (ADA) experienced a major downtrend in the past months as the crypto market took another swing for the lows. The sixth cryptocurrency by market cap has seen a year in the green as it managed to complete several upgrades on its mainnet. Related Reading | Biggest Cardano Based Cross-Chain NFT Marketplace Verlux kicks Off Pre-sale First, Cardano successfully transitioned to a Proof-of-Stake consensus in 2020, shortly after the D parameter reached “0” signaling the full decentralization of block production. The network went from a federate consensus to a community-based consensus as the latter control most stake pools producing blocks on the network. Later, the start of a new era with the first of 3 major Hard Fork Combinator (HFC) events with the implementation of “Allegra”, followed by “Mary”. These upgrades brought new capabilities to the Cardano mainnet which were completed with “Alonzo” that introduced smart contract capabilities into the blockchain. This ecosystem has already seen a surge in projects, as developers and users rush in to build and leverage the benefits of its UTXO model. In that sense, community member ADA Whale shared his top predictions that could boost another rally for the underlying cryptocurrency of the Cardano network. 1/Ten Cardano predictions for 2022. They’re imo simultaneously conservative, achievable yet ambitious In a year I will review how right or wrong I have been. Not expecting full accuracy but maybe 50-75%? Note: no price talk, if the following happens, price will follow naturally — ADA whale (@cardano_whale) December 30, 2021 ADA Whale mentioned the potential increase in the number of transactions and active addresses for Cardano. The investor believes these fundamentals could increase by a factor of 5 leading into a massive wave of adoption in 2023. Cardano remains one of the most actively used networks. Scaling happens via different streams, first gradually to keep up w growth, exponentially in 2023. This new wave of adoption for this network could translate into more projects. The investors estimated that by the end of 2022, there could be more than 250 decentralized applications, DeFi platforms, launchpad and more on the network. The investor added: Cardano DeFi starts slowly but TVL >$10bn eoy. Dapp store with levels of certification goes live. Ease of use sees people replace banking stack with Cardano DeFi. Digital Identity projects thrive connecting DeFi w/ real world. UTXO DeFi will be different, and better Cardano And Its Potential For The Coming Years In addition to its security, according to ADA Whale, Cardano offers low fees, energy efficiency with a green footprint, and has been adopted by companies and projects with a global impact. This includes World Mobile, Singularity, and others. The aforementioned collaborations place the ecosystem in different sectors with close deals with governments in growing economies. Cardano will strengthen its partnerships in the coming years as it attempts to provide people with an open, decentralized, and accessible network to manage and support a variety of basic services. In the meantime, the network develops interoperable capabilities. ADA Whale mentioned Milkomeda, a second layer solution for Cardano with EVM compatibility. This types of solutions will help onboard more users and developers. Related Reading | Cardano Project Flickto Surpasses 1.5 Million ADA Staked One Month After Launch As of press time, ADA trades at $1,36 with sideways movement in the past day.

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Question as posed. Prefer hardware wallet but open to software wallet if there's a good one that can handle both BTC and ETH. TIA. submitted by /u/LordShinRee [link] [comments]

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Although crypto prices didn’t live up to their lofty expectations in 2021, the outlook on the blockchain economy is as strong as ever.

For those that don't know, there are services out there that offer to calculate the Crypto taxes that you owe. This is great because the end of the year is coming and people are likely to be figuring out their tax situation for the incoming tax season next year. Assuming of course you’re not trying…
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