Every process has some important landmarks that happen at some point in its journey. Be it in traditional life or organization, these key points determine some accomplishments equally important for the organization and the individuals associated with it. These landmarks are called milestones and these are termed key events in the life of a process. This was the thing of the physical world. Similar is the case with the digital world and related digital platforms. The digital platform of exchanges that is cryptocurrency helps every investor to grow multi-folds and as a result, this adds to the popularity of the platform and the process as a whole. Connect to the official website of this Software for cryptocurrency trading to simplify trading.
In recent times, cryptocurrency has developed as a subject and there are a lot of crowds that are currently engaged in its processes and many are in the pipeline to get associated. This is due to some milestones achieved by the platform that lured customers throughout the world. These milestones were witness to the multifold development of the platform and thus are the topic of discussion. In this article, we are going to discuss these milestones that made their entry into the digital world. So, let us start the journey!
The popularity of the prime
The prime cryptocurrency of all time is none other than bitcoin itself. The heights achieved by bitcoin are high and due to these the aspirations of investors from bitcoin always remain high. In 2020, history made a remarkable decision to the entitlement of bitcoin as an official form of currency. El Salvador was next to nod a yes to this currency and this was an important milestone in the journey of bitcoin. The popularity also increased due to covid pandemic that shut down almost every physical market around the globe but the digital market went unaffected.
The rise of meme coins
The popular source of entertainment on digital platforms called memes got another role. This role is quite important cause a monetary value got associated with it. The meme coins came into existence and the value of these coins rose with the increase in the popularity of the memes. The first meme coin came in the form of DOGE which was an output of a meme containing a smiling dog launched by the market giant Elon Musk. following this, many other meme coins came into existence and became quite popular with time.
The rise of nonfungible tokens aka NFTs helped decentralized technology to grow out of nowhere. Every asset be it in physical forms or a record digital form can be converted to this format and the price of these assets is no less than a bounty in hand! From games to music, from art to smilies, anything can be converted to NFTs and monetarily valued. The market cap of NFTs has risen to a record-breaking $22B which marked tremendous interest in people in this new field of tokenization.
The decentralized applications were the next milestones in the timeline of cryptocurrency. The value of DeFi-related projects increased to almost 300% to its previous value and as a result popularity and human engagement increased. The growth in the digital market was no less than exponential and as a result, many people started investing in these decentralized applications.
The advent of Metaverse
Meta referred to the new branding of Facebook made new doors open to new opportunities. These are wider and more scalable which were related to social media content before. The experience of virtual reality is possible in Meta and currently, many new developments are being taken up with Meta and associated technology giants to make it a big success.