Going forward, we anticipate that smart contract networks like Ethereum and Solana will continue to grow in transaction size and notional value, as the network of participants and use cases continue to grow.Įxplosive Growth in 2021: Total Value of Transactions on Ethereum Networkīitcoin begins to realize its full potential as a fiat currency disruptor, especially for emerging markets countries. 2021 saw massive growth in Ethereum network transactions on the back of widespread proliferation and adoption of Ethereum-based projects (like NFTs). The Ethereum network is used for a wide variety of applications, from NFT ownership to smart-contracts. As Mexican crypto-remittance firm Bitso illustrates, offering money transfer solutions at a cheap price can lead to immediate market share gains over incumbent financial firms like Western Union.īlockchain transaction usage and smart contract adoption explode, reaching $3.5T in volume on ETH.
In 2021, PayPal, Venmo, Mastercard and even Twitter began allowing customers to transact in Bitcoin.
In 2018, Square established itself as an early crypto adopter by allowing users to buy and sell Bitcoin on the app. We believe blockchain technology is inherently deflationary because it introduces higher degrees of efficiency and transparency, which immediately lower transaction costs. It’s widely accepted that the financial services industry is a primary disruption target of blockchain upstarts. 2021 Crypto Highlights: Disruption and the Rise of Crypto Enablersįintech and traditional payments embrace blockchain and co-opt crypto solutions. Here we take a look at five of the biggest stories in the crypto sphere for 2021 and share our top predictions for what we anticipate may be the biggest stories in 2022. 2021 was a huge year for crypto adoption and breakthroughs, and we expect this momentum to continue through 2022.
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