2021 was a boom year for the crypto markets. It was the year that crypto, blockchain, and web3 took center stage. Facebook rebranded as Meta, banks moved into the space, and NFTs were on the tip of everyone’s tongue.
The 2021 crypto bull could be attributable to many things. Institutional adoption and acceptance of cryptocurrencies by major brands gave the sector a new sense of legitimacy. Low-interest rates during the COVID-19 pandemic led to inflation fears.
Hence, investors turned to alternative investments like cryptocurrencies. During the COVID-19 pandemic and subsequent lockdowns, most people spent more time online. That once-in-a-generation event also provided the perfect petri dish for crypto to gain momentum.