2020 is a tough year because of the COVID-19 outbreak. However, this year, it is an important history for Bitcoin and Ethereum because the price soaring sharply. Then, what will the crypto and blockchain asset trends look like in 2021?
This time Indodax.Academy will discuss the trend of crypto and blockchain assets in 2021. There are several predictions that the price of Bitcoin, Ethereum, and other crypto assets will continue to peak.
The popularity of blockchain technology exploded in 2020. This is marked by the Decentralized Finance (DeFi) system which is loved by crypto asset lovers around the world.
2020 is also an important history for DeFi. Because the largest network, Ethereum, has already started its early stages of evolution in December 2020. The Ethereum network will be wider without bugs and more efficient.
In addition, Bitcoin recorded a record high in history. The highest Bitcoin price is currently past US $ 23,000 or Rp. 330 million.
What else will happen?
1. Blockchain is Getting More and More Interest
With these important histories, people will be increasingly familiar with blockchain technology. Apart from cryptocurrency, blockchain can also be applied in other systems, such as corporate work systems and others.
In 2021, the popularity of blockchain will increase. The size of the global blockchain market is expected to grow from USD3 billion in 2020 to USD39.7 billion in 2025.
The year 2021 is considered to be a beginning. It is predicted that at least 25% of the top 2000 companies in Forbes Global will implement a blockchain system.
2. COVID-19 will Accelerate Blockchain Transition
People will increasingly need the blockchain system as a stimulus measure to rise from the COVID-19 pandemic. This is because the blockchain system is transparent, efficient and safer.
This system is believed to be a solution to the downturn during the COVID-19 era. In this case, licensing of crypto assets is also made easy. More countries will use the blockchain system.
3. Private Blockchain Will Be Widely Used
Because they want to rise from the pandemic, companies will implement private blockchain for their systems. This is because large corporations and startups need acceleration or efficiency.
Later, people will no longer doubt the blockchain system. Previously, there were still many people who didn’t want to implement a blockchain system.
Because transparency or openness is not desirable. In fact, transparency is the enemy of many corporations.
4. Bitcoin Increasingly In Demand
People will be increasingly interested in Bitcoin. This is because Bitcoin has touched a record past US $ 23,000 or Rp330 million, by the end of 2020. More and more people will understand Bitcoin.
The king of cryptos has successfully been seen as an asset to a good investment. Not only as a safe haven asset, Bitcoin is also considered capable of being a good inflation hedge.
The increased purchase of Bitcoin also increases its price. Analysts predict Bitcoin will touch its highest level again past US $ 55,000.
5. Reduced mining activity
After the emergence of the decentralized finance (DeFi) trend, there were fewer miners. This is because mining requires a lot of money or energy.
To mine, a miner can spend hundreds of millions of Rupiah for the purchase of a computer unit along with VGA and other devices. Not to mention, the electricity costs are not cheap.
In order to acquire crypto assets, miners prefer staking. No need for expensive tools and expensive monthly fees, staking only requires a regular laptop and an internet connection.
This trend will also start when Ethereum 2.0 fully evolves. To get Ether, there is no need to mine anymore. Only need staking.
6. DeFi will be more and more loved
The DeFi trend will continue even more and more in 2021. This is also the impact of the evolution of Ethereum 2.0. ERC20 network will be enlarged.
There will be no more obstacles such as bugs and expensive gas fees when staking. So, it is more efficient to get crypto assets as rewards when staking on platforms on the ERC20 network.
7. Crypto Asset Players and Developers will Increase
Not only players or investors in crypto assets, the developers will also increase. There will be many crypto asset companies that will emerge.
They will issue products such as tokens or coins, both for means of payment and others. The DeFi platform will also increase.
As the need for private blockchain will also increase, private blockchain developers with products such as consulting services will also mushroom around the world.
