For quite some years, cryptocurrency is a very hot topic. But the last several months have brought about a great deal of excitement. A flurry developments have shaped the future of cryptocurrency, from changes in regulation to new technological innovations. The most important cryptocurrency news in the last six months will be discussed.
Increased regulatory scrutiny of cryptocurrency was one of the biggest developments that occurred in its world. It is no secret that governments all over the world are grappling with how best to regulate cryptocurrency.
Securities and Exchange Commission, (SEC), has pursued aggressive enforcement against those involved in the crypto-space. Discussions have also taken place regarding the creation of a brand new regulatory structure that would be tailored specifically for cryptocurrency.
China’s government has taken an extreme stance against the mining and trading of cryptocurrency, resulting to a major drop in China’s share on the global market. These regulatory changes had an enormous impact on the landscape of cryptocurrency, and many companies were forced to adapt.
While cryptocurrency has been dominated by regulatory issues, it also boasts significant technological developments. Undoubtedly, the rise in popularity of non-fungible tokens has grabbed the attention of many.
They are stored as unique assets on the blockchain. Digital art, music and other types of media have all been created using NFTs. NFTs were the subject of a surge of interest over recent months. A number high-profile NFTs transactions captured public attention.
NFTs were not the first advancements. There have also been major advances in the underlying technologies that power cryptocurrencies. Ethereum is the second biggest cryptocurrency in the market by capitalization. The Ethereum 2.0 upgrade aims to enhance the network’s scalability.
Since the beginning of 2017, there has been a significant change in the market for cryptocurrency. Bitcoin, which is by far the most valuable cryptocurrency according to market capitalization has attracted institutional interest. Numerous major firms and investment companies are now adding Bitcoins to their accounts.
As a result, the number of altcoins (alternative currencies) has increased. These coins have grown in popularity as investors seek higher possible returns than Bitcoin, Ethereum and other more established cryptocurrencies.
It is also easier than ever for retail investors to invest in cryptocurrencies, using platforms like Robinhood or PayPal.
We are at a turning point in the history of the cryptocurrency industry. Technological advancements, along with regulatory changes, will determine which cryptocurrency will become the leader in this space.
The market for cryptocurrency is also likely to keep evolving. New trends and development will be shaping the industry over the years. Whatever the reason, it’s clear that cryptocurrency has never been more dynamic or exciting.