[PDF] Crypto Market Report 2020 by Coin98 Analytics
2020 was a year full of emotions and fluctuations in the crypto space. We believe that most of us already gained unforgettable memories and lessons for ourselves.
This 2020 report is presented by Coin98 Analytics, providing you with significant events, numbers, and useful insights into the whole crypto space.
We hope that this report will be one of your powerful tools and support you with the 2021 journey ahead.
This report is translated into both Vietnamese and English. Feel free to download it with the link below.
Highlights of the Crypto Market in 2020
Many major events have happened in 2020, namely Bitcoin Halving, Bitcoin Cash Halving, etc., followed up with essential developments of Ethereum (i.e., ETH 2.0), Polkadot, and the rising concerns about regulation. In general, our market has reached a higher maturity compared to years ago.
Large Cap
Bitcoin in 2020
Let's start with “The King of Crypto,” Bitcoin.
For those who believe in Bitcoin’s future, congratulations! Your belief has been paid off well (really well). Market Cap of BTC surpassed $500B, reached ATH, and brought an ROI of +300% from the beginning of the year.
This year has seen the FOMO phenomenon from some of the most prominent institutions and companies to Bitcoin attracted a large amount of money into the market.
There has been a massive demand for Bitcoin recently. Financial institutions that public their buy and sell activities have bought 2.5 times the amount of Bitcoin mined in 2020, not to mention other funds and retail investors.
Ethereum in 2020
ETH has been exploded with +450% growth this year, yet the transaction fee is the real problem to the “Queen of Crypto.” Gas fees on Ethereum sometimes spoke to $200, leading to frustration of DApps users. Probably in 2021, Ethereum can overcome this significant hurdle with Ethereum 2.0.
Stablecoins in 2020
Another critical lego is definitely stablecoins. The market cap of stablecoins has grown +500% this year, reaching $27B. We also witnessed the rise of DAI - a crypto-backed stablecoin. With the explosion of DeFi space, the demand for DAI has grown exponentially. In just one year, stablecoins rank third in terms of market cap.
DeFi in 2020
The developments of DeFi in 2020
2020 is undoubtedly the year of Decentralized Finance.
The total value locked in DeFi projects reached over $21 billion, 24 times higher than the beginning of the year. Transaction volume reached over $110 billion, 36 times higher than last year. Those specific numbers prove the remarkable development of DeFi.
Thanks to DeFi, some projects have snowballed (YFI, UNI, MKR, etc.), some projects have received numerous benefits (LINK, BAND, etc.), and some have been revived ( AAVE, SNX, etc.).
Yield Farming in 2020
It is impossible not to notice yield farming, the token incentives program provides APY up to hundreds or thousands of percent. As a result, projects using this strategy have successfully attracted thousands of yield farmers to use financial services such as brokerage, exchanges, insurance, derivatives, etc., on the decentralized finance ecosystem.
ROI YTD of sectors in DeFi
Centralized Exchanges in 2020
2020 is a winning year for the centralized exchange sector. Trading volume on all CEXs increased significantly, from 5 times to 15 times compared to the beginning of the year.
In addition to major players such as Binance, Coinbase, Huobi still holding their positions, in 2020, FTX Exchange has had a strong move with 60 times growth in trading volume.
NFTs 2020
Finally, let's take a look at Non-Fungible Tokens (NFTs), one of the hottest trends in 2020.
The year 2020 witnessed strong growth in many aspects, especially in the average price of a NFT, which is almost 4 times higher than the previous year, drawing many artists' and traders' attention to the NFTs market. Some outstanding projects of the year include Axie Infinity, Aavegotchi, etc.
Predictions for 2021
Read the full version of the report below.
Crypto Market 2020 Report (Vietnamese): http://c98.link/MarketReport_2020_Coin98_VN
Crypto Market 2020 Report (English): http://c98.link/MarketReport_2020_Coin98_Eng
This report is only for crypto market insights providing purpose and not considered as financial advice.