CoinGecko has published its 2020 annual report on the cryptocurrency sector.
It's a comprehensive analysis of the market and the key dynamics that shaped it last year.
CoinGecko describes 2020 as a "stimulating" and "exciting" year for the cryptocurrency sector, and suggests that 2021 could be just as exciting.
2020 was marked by the beginning of the massive entry of institutional investors in this market, such as Square and MicroStrategy, who began to adopt Bitcoin as part of their hedging strategies.
According to CoinGecko calculations, Institutional investors would now have a total of approximately 1,172,065 bitcoins, or almost 6% of all existing BTC in the world.
But the year was also marked by the rise of decentralized finance (DeFi), which saw the emergence of new protocols and a TVL that soared to several billion dollars. Unfortunately, however, this growing popularity also attracted the attention of many malicious actors who caused total losses of about $ 121 million.
He has also seen various airdrops, such as those from Uniswap, 1inch, The Graph, and many others.
The 5 points of the report on the cryptocurrency sector in 2020
According to the CoinGecko report, there were five 2020 highlights for the crypto markets.
The first concerns the capitalization of market total of the 30 largest cryptocurrencies, which closed the year at an all-time high of around $ 732 billion.
One of the main reasons for this growth would be the massive influx of institutional investors into this market, including Paul Tudor Jones and Stanley Druckenmiller.
The second is related to the bitcoin price rally, which somehow echoed the one from late 2016 / early 2017.
During that cycle, it had finally risen 4.527%, as of December 2017, while for now it has more than doubled than in 2016. However, according to CoinGecko, this time the cryptocurrency market may maintain high ratings.
The third was DeFi, which ended 2020 with the highest market capitalization in history, with $ 20.4 billion.
The fourth is the growth in the volume of operations on the stock exchanges, which increased to $ 403 billion in 2020.
Finally, the fifth is the record volume for Bitcoin Perpetual Swap futures contracts, which rose to a new all-time high of $ 3.5 trillion.
Therefore, 2020 was a year marked by several historical records in the cryptocurrency sector, in addition to the price of bitcoin, with figures that reveal a sector that is experiencing tremendous growth and expansion.