Happy New Years!
2020 has been a difficult year in many ways because of the Pandemic and the economic problems that have come with it. People have lost their jobs and businesses have closed down. At the same time it's been an exciting year for cryptocurrency and especially Bitcoin. In March Bitcoin had a low of about 5,000 USD and will close the year at about 29,000 USD. This is an incredible 6x gain in merely 9 months!
Besides Bitcoin's incredible bull run it's been an amazing year for Defi. Defi practically didn't exist in 2019 and was only worth millions, now Defi is a billion Dollar industry. Uniswap has closed this year as the leader in the Defi industry but experienced fierce competition from Uniswap and Compound started the Liquidity mining movement. To see some Defi highlights check out OKEx's article on The Top 5 Highlights from Defi in 2020.
Besides the Defi movement it's been an eventful year for cryptocurrency with many different ups and downs. The biggest downer of the year is the SEC's lawsuit with Ripple. Many different cryptocurrency exchanges have delisted it and the value of XRP is dropping accordingly. However, it's also been a great year for cryptocurrency; Paypal adopted Bitcoin, Ethereum 2.0 finally launched and institutional investors have gotten into Bitcoin and are driving up the price; read more about it at the OKEx Academy.
2020 has been the best of times and it's been the worst of times and I think everyone can say that we are glad this year is over. Happy New Year and may 2021 be the best year yet.
