Opportunities and risks in 2021. What is the crypto industry looking like this year?

As we move into mid-December, we have reached the final stage of 2021 for the digital asset market. However, we can still see that the market as a whole has always maintained dynamic growth.

So, in this article, Digital Assets in 2021 is a broad overview of the digital asset market, the two historic developments that led to Bitcoin and Ethereum, and what is this important data that needs to be paid for in the NFT and GameFi industry. this year?

All the details of the heritage industry in 2021

First, let's take a look at the evolution of the total market value of digital assets. According to statistics from the third-party Coingecko Data website, the total market value of the digital real estate market as of January 1, 2021 is estimated at $ 787.1 billion, just 7.2% of the highest total market value in the States. -United. 848.6 billion dollars in transactions before 2017.

Full Conversion of Market Commodity Market Prices in 2021, CoinGecko Data Source

However, soon after that, the digital asset industry hit the sidelines, and only four days later, on January 5, 2021, the investment asset market. The digital assets industry set a new all-time high of $ 864.1 billion, breaking all records. . Then the shock rally began over the next four months, breaking through the $ 1,000 billion mark on January 7, breaking the $ 2,000 billion mark on April 6, and finally crossing the marked $ 25,600 mark. for May 12. half a year. After about two months, it entered a downward curve and the market capitalization of the digital asset market fell more than 50% to at least $ 1.25 trillion, and the market was filled with pessimism.

However, after bottoming out as the internal and external market environment stabilized in the third quarter, private equity has started to rise further since July. 14, although the total market value of digital assets has declined, it still stands at $ 2.38 trillion, slightly below the first half peak (total market value of digital assets). The above quotes are mentioned by Coiningecko).

Bitcoin and Ethereum are starting to look different

According to data from the Ouyi platform, on January 1, 2021, the price of Bitcoin closed at US $ 29,185.7, and on April 14, it reached US $ 6,486.9, crossing the new one for the first time. biannual summit. up 122.3%, then down. The lowest in-store price was $ 28,808, down slightly from the price of $ 29,000 at the start of the year. Then it extended into the first half of the year and rose again to $ 69,040 on November 10. At the same time, it was close to a total of $ 70,000, the largest increase of 136.6% for the year. Changes in market value are caused by exchange rates.

According to statistics from the qkl123 website, Bitcoin's market cap at the start of this year was $ 566.7 billion in July from $ 566.6 billion, but it returned from quarter to quarter. As of October 11, the increase to $ 1.28 trillion (October 11) was 127.9%, almost identical to the increase in inflation.

Bitcoin Market Price Difference in 2021, qkl123 data source

From a different perspective, let's compare the exchange rate of Bitcoin's market value to the total market value of digital assets. As of January 1, 2021, the Bitcoin market is typically around 70%, but on the 11 of the same month, it rose to 77.11%, which remains the highest market for Bitcoin this year since December 14. As of May 16, this rate had fallen from over 50% to 38.13%. Since then, it has traded in a 40% to 50% range, and as of December 14, the Bitcoin market was typically 42.1%.

In comparison, the price of Ethereum has been the highest over time, up 495%, from $ 735.42 at the start of January of this year to $ 4,371.96 in May 12th. year it is still up 131%, and the market again smoothed its high of US $ 4,871.42 on November 10, recording the highest growth of 562.7% or 127.9% for Bitcoin. .

Regarding the market value of the exchange, according to statistics from qkl123, the total market value of Ethereum at the start of the year was only $ 84.03 billion, only 14.82% compared to the Bitcoin's market value at the time. later.

Ethereum Market Price Comparison in 2021, data source qkl123

As of December 14, Ethereum had the highest revenue of the year at $ 571.66 billion (November 10), up 780.6% from the start of the year. Relative to the market value of Bitcoin at the same time, the market cap of Ethereum is 44.66% of the market value of Bitcoin, which is more than three times the exchange rate.

On another level, we can see a lot of speculation about the differences between Ethereum and Bitcoin in the secondary market.

From the ETH / BTC exchange rate point of view, it can be seen that the exchange rate of the two at the start of this year is around 0.025, but next year it changes to around 0.08. first in mid-May; And since last October, the hectic times have resumed, and on October 8, the ETH / BTC exchange rate hit a new high of 0.08836 in the past three years. .

ETH / BTC exchange rate 2021, Ouyi data source

A deeper reason for the above difference between Bitcoin and Ethereum in the secondary market is that most digital asset investors differ in the two different ways they develop, Bitcoin and Ethereum. Strategies like DeFi, NFT, GameFi, DAO, and WEB3.0 are at an advanced stage.

The popularity of NFTs and GameFi

Last year DeFi was the undisputed dark horse of the digital heritage industry, but this year it can be said that the market is stronger and more flourishing. In the first half of this year, there was a brief highlight in the NFT trading market with the support of the Olympics and various local sports, including many famous companies and images from the world of theater and sports.

Daily market share and price difference of NFT market in 2021, data provided by Ouke Yunchain Master

Looking at the statistics provided by the owner for Ouke Cloud Chain above, it can be seen that on February 26, the daily market share of the NFT market reached $ 205 million and the value of the average exchange rate was over 80. $ 000. The market that day was around 2,400 pens. After several months of consolidation, the NFT market finally crossed the highs between August and October, and in particular the volume, average price of trades and number of trades set a new record. When it comes to data, the largest modern trading volume in the NFT market at that time was over $ 580 million and the highest trading volume was over 80,000. It is an honor to have been successful.

Finally, let's take a look at GameFi, the GameFi-inspired peer-to-peer model not only brings new gameplay to digital products, but also has an unprecedented impact on businesses and still brings endless thoughts to the meta. -world. According to statistics from the owner of Ouke Cloud Chain, GameFi entered a period of rapid growth in April of this year, reaching a one-month high of $ 3.365 billion with over 200,000 businesses and over 5 million dollars. industries. Level 2.

GameFi Market Snapshot in 2021, Ouke Cloud Chain Master Data Source

Since then, the packaging industry has declined, but it has shown a daily increase in terms of commodities and commodities. As of December 14, the number of modern users participating in GamePie was over 680,000 and the number of transactions was over 24 million, showing features such as expanding the user base, increasing the frequency and reduction of a volume operation.

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There are only ten days left until the end of 2021. Although the performance of most digital assets represented by Bitcoin is still a bit slow, current contents such as Metaverse and GameFi are still very popular in the market. As Facebook changes its name to Meta and invests and funds business relationships, we expect digital marketing products to see positive results by 2022.