The usage of Cryptocurrencies soared to new heights in 2020, and the trend will continue in 2021 also. This year began with Bitcoin touching a record of $41,000 due to increased demand from institutional investors.More Participation from Professional Traders \u2014 A significant rise in trading volume and liquidity would be witnessed with the participation of traders who deal in high-volume purchases and sales of crypto. This will lead to greater credibility and boost investors\u2019 confidence. The halving of Bitcoin, which led to a reduction in supply, has also been one of the main reasons for its massive price rise. Institutional investors will divert their money from pension funds, mutual funds, hedge funds, and corporate investments to Cryptocurrencies.Stablecoins will Grow Faster \u2014 Stablecoins are highly appealing to investors due to their low volatility and utilization for efficient portfolio diversification. The circulation of Stablecoins increased by a massive 500% in 2020. It can be either fiat-backed, crypto-backed, commodity-backed, or seigniorage-share-backed. The market cap for Stablecoins is a whopping $34.65 billion with a huge trading volume of $144.43 billion.The demand for Stablecoins like USDT, USDC, DAI, BUSD, and TUSD have skyrocketed now due to extreme fluctuations witnessed in the Cryptocurrency market. It can be used as a store of value, a unit of account, provides sufficient liquidity, low risks, is widely accepted in the market, and can be traded 24×7. Facebook\u2019s Stablecoin named Diem is expected to launch this year and will compete with the likes of PayPal, Mastercard, and Visa. Diem can also be traded with Bitcoins and Altcoins with ease.More Clarity in Regulations and Taxation \u2014 Authorities are expected to pass progressive guidelines regarding the recognition of digital currencies. It will become more streamlined and organized. By paying taxes, Cryptocurrency exchanges can become a legal business, and it will also fetch\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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