Cryptocurrency has existed for almost 12 years, and it has created a lot of attention from a lot of individuals from different walks of life. Back in 2009, when Bitcoin was first launched, only a few people knew about it, and we’re aware of what it is all about. Basically, the computer nerds and tech-savvy are the ones who showed the first interest in it. As the years pass by, cryptocurrency has shown a lot of potential and utilisation in solving real-world problems. Ever since cryptocurrency started to experience fluctuation, individuals have started investing and exploring the possibilities.
This year has been a great one for the cryptocurrency industry, considering that it is continuing to grow. Market value for some of the cryptocurrencies had also been highly fluctuating, and a single Bitcoin actually reached $68,000 by November in 2021, while it started trading by $30,000 in January 2021. There were also a lot of new projects offered by different cryptocurrencies and even the cryptocurrency exchange platforms, which were highly engaged by the new and even the old investors. Most importantly, the cryptocurrency industry grew its community, and there were a lot of new investors trying to explore the cryptocurrency industry, a lot of those before who were not aware of what cryptocurrency even is. There are a lot of external factors and exposure that might cause fluctuations in the cryptocurrency market. Since a lot of groups, communities and industries have been interacting and collaborating in the industry.
Millennials are one of the most highly engaged with cryptocurrency as of now. Being the forward technology generation, understanding cryptocurrency might be easy for them. Individuals on the younger side of the community were eager to know and explore what cryptocurrency is and, most especially, how they can gain profit from it. Since most of the millennials were also being swayed by trends, and nowadays, cryptocurrency has been featured almost everywhere, in the mainstream media, from famous people in social media, and a lot of hearsay from different individuals. They are the main trend makers as of now, and even the older generations have been following most of the trends.
However, aside from the eagerness, this generation is also considered to be easily fooled or gullible. That’s why a reliable cryptocurrency platform, like Bitcoin Evolution, can help traders manage their cryptocurrency investments. These kinds of platforms and applications would be the best tool for them since this generation is also relying heavily on their devices. With that, the app could be the most convenient option for them since they can access it anytime and anywhere on their device.
The sports industry is one of the biggest industries in the world; it is being supported by almost everyone in the world. The sports industry also has a massive community, and now cryptocurrency exchange and their projects, as well as the blockchain-based businesses, have been collaborating with the sports industry to reach potential investors and bring in new audiences for the market. Apparently, almost 47% of sports fans are aware of the cryptocurrency industry, and 27% of sports fans have already invested in cryptocurrency, so there is still a large percentage to be a potential investor.
In fact, as of now, some of the biggest cryptocurrency companies have been signing deals with the biggest names in the sports industry as well. Like what a crypto website did, they signed a $20 million deal to have the naming rights for the Los Angeles arena, which is the home for one of the biggest names in NBA, the Lakers.
Art and Music industry
Both the art and the music can be digitally created, which can be highly engaging to most. With the developments made on cryptocurrency, it can be associated with almost everything. It seems that nowadays, digital art is being associated with NFT or non-fungible tokens which can be purchased using cryptocurrency. A lot of digital art with NFT would have a unique address and a rare value which can be an attention grabber for most of the investors.
Justin Blu, a recording artist and a producer to singers like Rihanna, Ariana Grande and more, had already sold numerous NFT’s for his album Ultraviolet in which he actually made $11.7 million in sales. Besides this, Blue believes cryptocurrency and blockchain technology could actually change the music industry using smart contracts, which can basically remove the middle man on transactions.
Still, on the developments with NFT’s, big designer companies have been launching digital collections with NFT a lot recently. Collectors and buyers of sole designer companies like Givenchy, Dolce and Gabbana, DKNY and Jimmy Choo had been highly anticipating the collections on the auctions. This year really highlighted the potential of cryptocurrency even in this kind of industry since the projects of these designer companies have been a success and are booming right now. It is a win-win situation for both since the consumers of these designer brands would be aware of cryptocurrency and might be potential investors as well. Likewise, cryptocurrency investors are most likely to buy, collect and participate in the projects and collections with NFT.
Tesla, the leading electric car company owned by Elin Musk, is also famous for being influential in the cryptocurrency industry. Tesla actually bought $1.5 billion worth of Bitcoin to prove its liquidity and improve the financial system of the company. This kind of exposure actually makes some of the cryptocurrency values have high value; this also improves cryptocurrencies reliability to the social and financial systems.
There are still a lot on the list who have cryptocurrency on their balance sheets, like Square Inc, Galaxy Digital Holdings, to name a few.
Cryptocurrency has gained a lot of new investors for the past few years, especially in 2021. It seems like people are becoming more and more aware of the industry. This might indicate that there is a great future ahead for the cryptocurrency market. Nevertheless, it is still important to consider that cryptocurrency is still highly volatile and might experience dips in its value from time to time.