CryptoQuestion Bulletin — January 2021

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An Overview

2020 was one hell of a year for cryptocurrency, but there was one stand out cryptocurrency that increased its dominance over all others, bitcoin. Not only did bitcoin smash all previous highs, a feat few thought possible at the beginning of the year, but bitcoin’s market dominance is up to 70% at the time of writing. Combined with Ethereum, both coins represent over 80% of the total market cap of all listed cryptocurrencies.

In 2020 bitcoin finally achieved mainstream investment status gaining respectability among blue chip companies and institutions. The biggest news was PayPal entering the market. They recently announced that some 20% of the limited number of customers who have been offered the service have bought. Their crypto platform was opened to all its US customers in November. Considering the 350 million PayPal users there could be some huge pent up demand waiting to hit the market. According to a recent survey there are now over 101 million owners of cryptocurrency. With this…