Cryptocurrency 's been around for ten years now, and it's experienced its great amount of ups and downs. From the highs of Bitcoin's all-time high in 2017 to the lows of 2018's bear market, cryptocurrency has received 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 taking a look at global trading volume. By April 2021, daily global crypto trading volume reached an all-time most of $68.6 billion USD — an enormous increase from 2020's average daily volume of $12 billion USD. This surge in activity shows that folks are still thinking about cryptocurrencies, especially once they can be used as investments or traded on exchanges. Additionally, this increase in trading volume could possibly be attributed to an influx of institutional investors entering the space. These investors have brought using them large sums of capital and a standard fascination with cryptocurrencies that will have catalyzed this growth in trading activity.
The Rise Of DeFi & NFTs
Another sign that cryptocurrency is definately not dead could be the rise of decentralized finance (DeFi) protocols and non-fungible tokens (NFTs). DeFi protocols enable users to gain access to financial services such as 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 artwork, music, or virtual collectibles like CryptoKitties. The truth that those two technologies have exploded onto the scene shows that there is still plenty 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 anytime soon keeps growing adoption and awareness amongst everyday people. Based on 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 a 100% increase over just four years! Additionally, more businesses are beginning to just accept cryptocurrency as payment for goods and services - another sign that crypto is becoming mainstream. As more folks become alert to what crypto can do for them financially - from investing opportunities to low transaction fees - it's likely we will have a lot more adoption over time.
Conclusion:
All signs point towards cryptocurrency being definately not dead — quite the alternative actually! With increasing levels of trading activity coupled with growing adoption and awareness amongst everyday people plus innovative new technologies such as for example DeFi protocols and NFTs entering the scene — it appears like crypto is here to stay! Provided that blockchain technology continues to advance so too will cryptocurrency markets; rendering it an increasingly attractive choice for savvy investors around the world.