2020 has turned out to be a very fertile year for xx – that is, profit multipliers – in the world of cryptocurrencies.
This period is also notable for a sharp surge in the development of the sphere of decentralized finance and the emergence of a huge number of new promising projects.
Now you can take stock of the year and make a rating of the five most memorable investments among digital assets.
5th place – Ethereum
In 2020, Ethereum surpassed Bitcoin in many metrics, including profitability. Its price is up 470 percent YTD, compared to 274 percent for BTC. The market capitalization of ETH has grown from $ 14.4 billion to $ 81 billion, Decrypt reports.
This morning, the ETH rate surpassed the $ 720 level. That’s the equivalent of an 11 percent increase in a day.
And it’s not just the numbers. Ethereum developers have successfully “convinced” the community to invest more than a billion dollars worth of ETH in the Ethereum 2.0 deposit contract for another step towards the transition to Proof-of-Stake. That is, the progress of the main upgrade in the history of altcoin is going well. Also, do not forget about the rapid development of the DeFi sector: the amount of blocked funds in decentralized finance protocols soared to $ 15 billion in 2020.
4th place – Chainlink
LINK’s cost has risen from $ 1.70 to $ 13 over the year. The coin also hit a new all-time high at $ 19.90, a record that was reached back in August. Chainlink’s rapid growth is due to the hype around the aforementioned sphere of decentralized finance.
In addition, Chainlink is the main oracle in the cryptocurrency industry – that is, a platform that ensures the correctness of data from the outside world entered into the blockchain.
3rd place – AAVE
In the first days of the year, the project token with the ticker LEND was traded for only a couple of cents. When the project rebranded to AAVE in early October and paid the holders 1 AAVE token for every 100 LEND, the price for obvious reasons increased to accommodate the change in supply.
Between November and December, the cost of AAVE jumped from $ 26.50 to $ 92.
2nd place – USDC
It was not by chance that the stablecoin got into the rating, although its price constantly fluctuates around $ 1 – that’s why it is a stablecoin. USDC has been marked by rapid expansion beyond the Ethereum blockchain: now the coin also functions on the basis of Algorand, Stellar, and Solana. In addition, the capitalization of USDC increased from $ 516 million to $ 3 billion in just one year.
And although the USDC coin is still far from the same Tether USDT, the pace of its development is going very confidently.
1st place – Bitcoin
Bitcoin may not be the first in terms of profitability, and even in comparison with the stock market, but definitely the first in terms of “spectacular” growth in 2020. Recall that back in March, the value of BTC fell just below $ 4,000 amid panic over the spread of the coronavirus. However, at the time of this writing, the main cryptocurrency is already trading at $ 26,920.
And on the weekend, the BTC rate even exceeded the $ 28 thousand line.
Bitcoin price change in 2020
BTC did not break before the global crisis, but on the contrary, it fully revealed its potential as an excellent store of value in a critical situation. Additionally, Bitcoin has received a huge amount of attention from institutional investors who are now actively investing hundreds of millions of dollars in cryptocurrency.
We believe that, in general, 2020 for the crypto market is ending on a positive note. Bitcoin has pleased us with a new all-time high and continued steady growth. Let’s hope that in the coming year, the cryptocurrency will take a six-figure milestone in value and rush to new heights, and along with it will pick up the rest of the market.
So for now, the situation for investors remains positive. And although BTC has not become a full-fledged means of payment worldwide, the cryptocurrency industry has significantly strengthened its own position anyway. Now this is not just a sphere for speculation, as bankers and officials like to call it, but also full-fledged assets for preserving and increasing funds.