2021 Blockchain Year in Review
It has been an exciting year for the blockchain/crypto space so take a look back at 2021 with us…
Table of Contents
VegaX Year in Review
Year in Review: Growth in Assets Under Management (AUM)
Year in Review: New Strategies and Indices
Blockchain / Crypto Year in Review: 2021
Year in Review: Early 2021
Year in Review: NFTs Take Over and the Metaverse Emerges
Year in Review: DeFi Focuses on Blockchain Interoperability
Year in Review: Crypto Reaches the Mainstream Through Sports Sponsorships
Year in Review: Mid-2021
Year in Review: Fall 2021
Year in Review: End of 2021
The end of one year and the beginning of another is a time for both reflecting on the year’s accomplishments and looking forward to the new year ahead. The purpose of our 2021 year in review summary is to provide a recap of not only the achievements of VegaX this year but a look at the events that captivated the blockchain industry as a whole over the past twelve months.
VegaX Year in Review
2021 has been a year full of successes for VegaX. Here are some of the highlights:
Year in Review: Growth in Assets Under Management (AUM)
In 2021, we increased our assets under management by 7,500%+. In early 2021 we reached the milestone of $15 million of crypto assets under management, and now that number has increased to $182 million+ of crypto assets under management. This is a significant step forward for us, and we look forward to bringing in even more clients in 2022!
Year in Review: New Strategies and Indices
April 2021 was a busy month for our team. In April, we launched multiple indices, including the VegaX Bitcoin BuyWrite Index (VBXM), the VegaX Kimchi Premium Index (VBKI), the VegaX Non-Fungible Token (NFT) Index (VNFTX), and the VegaX DeFi Core Index (VDCX).
November 2021 was equally busy, with the team releasing multiple indices and strategies, including the VegaX NFT Market Index, the VegaX Solana Index (VSOLX), the VegaX Solana Investment Strategy Token (VSOL), and the VegaX Crypto 100 Index (VC100X).
In case you missed it, midway through the year we published an article on the performance of VegaX and the VegaX strategies in the first half of the year.
You can find a complete list of our active strategies and indices, including the latest numbers and links to one-page summary descriptions of them here.
Click on the following links for more information on how to actually purchase the VegaX strategies, how to use the VegaX dashboard, and our referral and rewards program. In case you would like to invest but don’t have enough funds at the moment, we have developed a crypto loan program as well. You can find our complete series of guide content on our website here or via our Medium profile.
Blockchain / Crypto Year in Review: 2021
Year in Review: Early 2021
Early 2021 was focused on the news that more and more institutions were adding Bitcoin to their balance sheets, with the biggest revelation coming from Tesla, which bought $1.5 billion worth of the cryptocurrency. We covered this as one of the key points in our Q1 Bitcoin Timeline published in March.
Back in February 2021, we anticipated that crypto ETFs were going to play a significant role in the development of the crypto space this year, and we were right (more on the development of crypto Exchange Traded Funds later). That same month, Canada became the first country to clear the launch of a Bitcoin ETF and Brazil followed soon after. Early 2021 also saw the resurgence of the Kimchi Premium as Bitcoin prices hit two year highs on Korean Exchanges.
Year in Review: NFTs Take Over and the Metaverse Emerges
Nothing had a bigger impact on the crypto market this year than NFTs. The growth of the non-fungible token market and NFT collectables packages offered by countless celebrities has helped push the crypto space further towards the mainstream. Crypto punks and NBA top shot became extremely valuable, but no NFT project gained more notoriety this year than the artist Beeple’s Everydays: The First 5000 Days which sold for $69 million in March.
Year in Review: DeFi Focuses on Blockchain Interoperability
The blockchain space’s attention continued to be centered on decentralized finance (DeFi) throughout 2021, and as the DeFi movement grew, focused turned to solving DeFi’s scaling and adoption issues with blockchain interoperability. Blockchain interoperability, or the ability of two blockchain to transmit information to each other, represents the next evolution in blockchain technology a can lead the way toward further adoption of blockchain and digital assets.
Year in Review: Crypto Reaches the Mainstream Through Sports Sponsorships
This year, crypto entered the mainstream with a series of high profile sports sponsorships. Crypto derivatives exchange FTX sponsored Major League Baseball and secured the naming rights of the home of the Miami Heat. Then Crypto.com bought the naming rights to the Staples Center, the home of the LA Clippers, LA Lakers, LA Kings and more. These sponsorship and naming rights deals are expected to bring even more notoriety to the crypto space in the coming years.
Year in Review: Mid-2021
As the year approached its halfway point, the focus of the media, both in crypto circles and in mainstream news sources turned toward the ongoing discussion surrounding Bitcoin’s perceived negative impact on the environment.
Around the same time, as the crypto space gained in influence, countries around the world began to layout frameworks for regulating cryptocurrencies, while at the same time announcing plans for and development of their own central bank digital currencies. As government regulation talks intensified, discussions turned to what the regulation of cryptocurrencies might look like in different countries.
In June, the Bitcoin price crashed, likely influenced by the fear and uncertainty caused by China’s crackdown on Bitcoin mining. However, the price didn’t stay down for long. Due to increased government spending and the excessive printing of money in some countries due to the impact of the pandemic, fears of inflation began to rise. This has caused some people to begin to put more money into Bitcoin, viewing it as a hedge against inflation due in part to its reputation as ‘digital gold’.
In early August, the Ethereum London upgrade (EIP-1559) was implemented to alter Ethereum’s transaction fee calculator mechanism. The upgrade was anticipated due to its introduction of gas fee burns on every transaction, which will curb ETH’s inflation and increase its scarcity.
Also in August, the crypto community in the U.S. became concerned about the wording in the U.S. infrastructure bill. It included an amendment that would make all crypto service providers register as broker-dealer entities and report filings to the IRS. The crypto community lobbied the government, and it was the first time that crypto showed its influence and lobbying power in the U.S.
Year in Review: Fall 2021
In September, the crypto and stock markets fell due to a mass sell-off over concerns related to a well-known property developer in China. Evergrande, one of the largest property developers in China, but also the most indebted property developer in the world, acknowledged it was unable to sell property and other assets fast enough to to meet repayment deadlines for more than $300 Billion in debt.
Due to its potential impact on China’s economy, and China’s status as one of the largest economies in the world, any negative impact from Evergrande on China’s economy could spread to the world economy as well. Fear over this potential blow to the world economy caused the mass sell-off, which caused the crypto and stock markets to fall.
Also in September, crypto exchanges in South Korea, one of the most crypto-focused countries in the world, were required to obtain licenses by September 24th in order to remain in operation, and the inability of some of the smaller Korean exchanges to meet the requirements in time caused them to be forced to close. However, South Korea still remains one of the most crypto-friendly countries. This was representative of the increased regulations of cryptocurrencies around the world.
In October, a Bitcoin ETF was finally allowed to trade in the U.S., and this among other factors caused an increase in the price of Bitcoin, eventually leading to the cryptocurrency reaching a new all-time high in early November. Shortly after, on November 10th, Ethereum also reached a new all-time high of more than $4,850.
Also in November, Bitcoin’s first upgrade in four years, Taproot, went into effect. Taproot was designed to strengthen Bitcoin’s smart contract capabilities and improve security.
Year in Review: End of 2021
In December, virtual land sales in the Metaverse began to dominate NFT sales. Also Vitalik Buterin outlined the Endgame Roadmap for ETH 2.0 and the networks switch to Proof-of-Stake.
This year has not only been good for BTC and ETH, but many other altcoins as well. Projects like Solana and others have seen substantial growth over the past year.
Overall, it has been an exciting and rewarding year for the digital asset landscape and for VegaX Holdings. We look forward to even more developments in 2022. To conclude our review of the year’s events, we would like to wish you a very…
🎇Happy New Year!🎇
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