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Bitcoin all-time highs, strong network activity and more
Posted by
William P. Eason on January 30, 2021 - 2:42am Edited 1/30 at 3:00am
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2021 crypto markets soar to new heights
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In the past few weeks bitcoin has broken through all-time high after all-time high. And while 2020 was arguably bitcoin’s best year ever, what does that mean for 2021? Our latest market report covers tough questions like this.
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Summary of what we talked about at the last Market Outlook
Market Movements
- Bitcoin continues to set new all time highs after closing out 2020 at just under the $29,000 for annual gain of 301%
- Ethereum lagged bitcoin in December but outperformed bitcoin 2020 (+477%)
- Asset markets in general had a strong 2020, with stocks (+16%), gold (+24%) and long-dated US treasuries (+16%) all registering double-digit gains on the years
- The US dollar was one of 2020’s biggest losers, -7% for the year
On-chain insights: Highlights from the Blockchain.com data science team
- Strong network activity in December
- Ethereum lagged bitcoin in December but outperformed bitcoin 2020 (+477%)
- Huge increase in mining revenue should eventually bring more mining hash power, but network security on a market value adjusted basis has recently deteriorated
Spotlight on Stellar (XLM)
- On the back of positive stablecoin regulatory developments and growing use, Stellar’s XLM has increased more than 2x to start 2021
- We profile what’s new with Stellar
What we’re reading
- The latest news from last month featuring articles from Bloomberg, Defiance, Financial Times and The Daily Gwei
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Missed last month’s live event? Listen to the podcast, watch the live recording or read the full report.
Best,
The Blockchain.com Team
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