Cryptocurrency market capitalization now stands at US$3 trillion! Another feather was added to the crypto market’s cap on Tuesday, November 9, 2021. As a result of this surge, the total value of cryptocurrencies has become more remarkable than the GDP of countries like the UK, France, India, and Italy.
Over the past few months, Cryptocurrency adoption has skyrocketed by 880%. Cryptocurrency adoption is on the rise in countries like India, Vietnam, and Pakistan, where investors, retailers, and financial institutions accept crypto as legitimate payment forms.
According to Shivam Thakral, CEO of BuyUcoin, the surge in trading volumes on our exchange shows that investors are joining the crypto revolution at an exponential rate. “Crypto has emerged as the first choice of investors to beat inflation,” he said. According to crypto analysts, investors are bracing themselves for any future economic inflation.
Decentralized finance and non-fungible tokens are gaining traction. With meme coins like DOGE and SHIB offering low-cost entry to investors, the market is expected to grow even further.”
He remains optimistic that Bitcoin will reach the US$100,000 mark by the end of the year. We are witnessing the largest financial revolution in modern history, which will forever alter the way monetary transactions are conducted.
According to Netero Dai, Asia CEO of OKEx, the price rally of bitcoin and ether has contributed significantly to the overall growth of crypto assets worldwide. He says,” Inflation is the biggest enemy of investments and crypto assets provide a strong hedge against Inflation.”
Institutional and retail investors now realize that crypto as an asset class is the best way to create sustainable, long-term wealth that is not bound by traditional growth markets. Known as the Taproot upgrade, bitcoin’s much-awaited upgrade will introduce a more efficient system and is expected to boost investor confidence further.
Also, governments and policy-making agencies are taking a positive stance on digital currencies by making bitcoin and other cryptos legal tender in their respective countries.