In addition to global events, which undoubtedly had a gigantic impact on the valuation of the cryptocurrency market, there were also somewhat smaller, but no less important events. More updates, ATH achieved, meme coins fashion – that is 2021 in a nutshell!
London Hard Fork and EIP-1559 on the Ethereum network
This is one of by far the most important events of the past year. The network of the second largest cryptocurrency, goes from a consensus Proof of Work to Proof of Stake. The procedure takes care of smaller updates. Among them, the London Hard Fork took place in August, and included a high-profile update called EIP-1559, triggering the process of burning some of the gas royalties that had previously fallen prey to miners. You can read more about it in the article titled “What EIP-1559 means for Ethereum (ETH)”.
Bitcoin network update
Bitcoin network events are rare. All the more the appearance of them aroused considerable interest. This time was no different. In November, we wrote about how “The long-awaited Bitcoin update called Taproot successfully went live. Privacy, security, scalability, and the introduction of smart contracts all implemented with it. There was a lot of controversy surrounding the event. There has been concern over the potentially negative attitude of governments towards increasing the confidentiality of the king of cryptocurrencies. However, these issues are not currently being addressed, which is another positive sign in the market.
Bitcoin’s next ATH
Bitcoin isn’t the only one reaching a new ATH in 2021, but it is the one that is most talked about. 69 thousand dollars to the current peak of its valuation. However, the year featured a number of events that were effective in breaking out new peaks, as well as scoring solid lows. We described all this in the analysis tab. Note, however, that the term ATH does not refer only to the price of the coin, but also, for example, to the strength of the network. This one ends 2021 with an excellent forecast for the near future. For more on this topic, read the article “Compute North predicts Bitcoin Hashrate will double in 2022”.
Meme coins fashion
Meme coins are undoubtedly controversial coins. However, they are hard to pass by indifferently. A wide range of speculators have claimed this category of the market as their favorite. As a result, 2021 was the year of Dogecoin, Shiba Inu, etc. “Should we take meme-tokens such as SHIB and FLOKI seriously?” – in this article we look for the right perspective.
The question remains what the coming year 2022 will bring us. Will it be as spectacular? We will all find out soon enough!