What’s new with crypto as of the second half of 2021
Cryptocurrencies are estimated to reach a new all-time high this coming year with Bitcoin (BTC) leading the charge at an impressive $44,320 in August. Every market is up by 2.75% on average for every coin and token. Ether (ETH) rose by 4-6% for several days in the same week ever since the London hard fork was announced.
That’s just a summary of events that have transpired as of the start of the second half of 2021. Here is some news that shows signs of bullish markets for all digital assets for the rest of the year. In summary: all cryptocurrencies are about to see bullish markets before 2022 starts.
Gambling tokens surge
Online gambling is one of the best outlets for adults around the world as the pandemic of COVID-19 caused people to stay indoors. It is also a great way to play for stakes using cryptocurrencies while some industries have yet to accept it as payment. Such circumstances made crypto casinos like Bitcasino grow exponentially successful in the past two years.
Some tokens are made specifically for gaming such as WINk (WIN), FunFair (FUN), and Decentral Games (DG). WINk is a gaming platform developed on the Tron (TRX) blockchain while FunFair is based on Ethereum (ETH). Both coins saw between a 720% to 1000% increase in the charts according to Cointelegraph Markets and TradingView since the beginning of 2021.
Decentral Games is a community-owned casino based on non-fungible token (NFT) technology. It is the first of its kind and currently the most valuable in the market. Their increase between December 2020 and March 2021 is a whopping 4,300%, reaching an all-time high of $621. Decentral Games began hiring in July 2021 which is going to further change the metaverse’s state in the immediate future.
Ethereum protocol update incites market boost
Ethereum received one of its biggest updates yet called the ‘London hard fork’. This new update ushers in the Ethereum Improvement Proposal (EIP) - 1559 which adds ETH burning and changes to how miners are incentivized.
Burning ETH allows the currency to prevent its potential for inflation without having to put a maximum supply cap. Thus, ETH prices are expected to soar before the year ends. Miners no longer receive transaction fees and users don’t need to bid for priority. The network’s algorithm automates fee calculation so fees are always fair and the process is faster.
NFT gaming explosion
Both CryptoPunk and Axie Infinity became some of the largest NFT games on Ethereum. CryptoPunk’s lowest item sells for 49.2 ETH while Axie Infinity’s AXS token reaches a $45 trading floor on the market. Thus, online casinos like Bitcasino are not the only crypto-based entertainment platforms to become popular this year.
Both games had low prices back in 2020 when almost anyone could participate quickly. Today, joining their ecosystem requires heavy investment. More play-to-earn and collectable NFT games on Ethereum are bound to see similar results before the year ends.