Elon Musk, El Salvador, the Metaverse and a $69 million NFT all played a part in a breakout year for the crypto industry
2021 was a blockbuster year for crypto by almost every measure, growing into a trillion-dollar plus industry and causing a massive wave of financial disruption around the world.
Bukele has also shown a commitment to mining Bitcoin with renewable energy from volcanoes, as part of his plan to create a “Bitcoin City” financed by bonds tied to the cryptocurrency.In March, the digital artist known as Beeple sold his artwork ‘Everydays: The First 5000 Days’ for a staggering $69 million at an auction hosted by Christie’s.
For Dogecoin – a meme coin created in 2013 as a joke – it would launch from the margins into the stratosphere, soaring some 5,000 percent over the past year. Upon going public, shares of the exchange rose as high as $429, briefly giving it a market value of over $100 billion before it fell back in volatile trading.Decentralised finance is an umbrella term for financial services on public blockchains, primarily Ethereum, grew in popularity with more sophisticated crypto investors.
‘Rug pulls’, a scam where developers abandon a crypto project with investors’ funds, became the “go-to-scam” of the DeFi ecosystem and accounted for over $2.8 billion stolen in 2021, or 37 percent of all crypto scam revenue, compared to just 1 percent in 2020.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 ways NOAA helped make America climate-ready in 2021 | National Oceanic and Atmospheric Administration
Read more »
Variety’s International Breakout Stars of 2021Breaking out is the stuff of dreams for millions of aspiring actors. And for their managers or agents, too. For some performers, transformation follows years of treading the boards — hundreds of au…
Read more »
The Internet Did Too Much, Even for 2021It's been an especially chaotic year for online drama. kathrynfiona looks back at 2021's most controversial main characters and how they fared in the aftermath of their respective internet shitstorms
Read more »
The Best Documentaries of 2021We’ve never been too crazy about the phrase “embarrassment of riches.” Why the embarrassment? Can you really have too much of a good thing? When it comes to documentaries, we think you …
Read more »
The Best Kitchen Gear We Bought in 2021The right tools and gadgets make cooking, cleaning, and just general time spent in the kitchen *so* much better. These were some of our favorites.
Read more »
2021 becomes deadliest year for Palestinian children since 2014The odds that a Palestinian would see his or her complaint lead to the prosecution of a soldier who harmed them is 0.7 percent
Read more »