| Dessription |
Since the creation of bitcoin in 2008, cryptocurrencies have been the subject of uncertainty, scepticism, hype and disillusionment. While still early as a technology category, cryptocurrencies are now maturing and have demonstrable utility. As of this writing, cryptocurrencies in aggregate are valued at over $2 trillion in market capitalization. Cryptocurrency-based lending applications and decentralized trading venues currently command $65 billion in on-boarded assets. Just in the first quarter of 2021, over $1 billion worth of digital collectibles and digital art traded hands, underpinned by cryptocurrency networks. This is not to mention the areas that are still in exploratory phases: community governance, file storage, and cross-border payments, among others. |
