China tried to stymie bitcoin's hashrate. But in 2021, $BTC showcased its resilience through its recovery. CambridgeAltFin’s data suggest China is no longer the dominant geographic player in hashrate.
in 2017. Taproot was a reminder that Bitcoin is a technology that can change in order to improve usability and user experience. Taproot’s success in the future will stand as a demonstration that Bitcoin can adapt.With ether’s superior asset price performance compared with bitcoin, it’s no surprise that bitcoin dominance, the measure of BTC market capitalization compared with the market capitalization of all digital assets, fell during 2021 from 70.2% to 40.1%.
Inside the world of institutions and regulation, capital poured into blockchain and crypto companies. According to data from Blockdata, $23 billion of funding reached these companies in 2021, which is more than the total amount raised from 2017 to 2020. We even saw a $1 billion capital raise in December for crypto financial services firm NYDIG, and crypto exchange FTX raised more than $1 billion across two funding rounds.
The word “crypto” even echoed in the halls of Congress as a $1 trillion infrastructure bill was held up in part due to a crypto tax-reporting provision. Regulators’ involvement in and discussion of crypto is indicative of the widespread belief that crypto is here to stay and therefore should be regulated to “keep citizens safe.”
Overall, 2021 was an extraordinary year for the cryptocurrency and blockchain industry. Read the full reportThe leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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