News
Steaker Monthly Report (2020.12.11~2021.01.10)
Jan 12, 2021
Focus of December:
- Bitcoin Continues Its Climb, Soars Above $40,000 For The First Time
- Crypto Economy Spikes More Than 11%. Entire Market Cap Captures Over $800 Billion | Market Updates
- DeFi Quietly Breaks Record as Investors Lock Up $15 Billion
- Coinbase IPO: Initial public offering announcement is key milestone for crypto industry
The 2021 “Year of the Bull” Market Takes Off, Moving Towards a New Currency Standard
The world in 2020 was filled with uncertainty and rapid change, whether related to the epidemic or the economic environment. Everyone has strived to bring stability to their lives in a rapidly changing environment. Among these tumultuous changes, the cryptocurrency market has gone from the slump in March to reach an ATH (All-Time-High) at the end of 2020. Additionally, Bitcoin has continued to set new record highs in January 2021, allowing coin holders to happily witness the market reaching a total cap of over USD $1 trillion.
Alongside the brilliant development of the cryptocurrency market, Steaker has also achieved many impressive milestones within the past year. Even when suffering the impact of a bear market, we still yielded an average annual return rate of 23%. Also, we achieved a customer growth rate of over 626% with active participation in promotional activities during last year, and our Asset Management Scale (AUM) surpassed 50,000,000 USDⓢ.
This year Steaker believes that the value of the cryptocurrency market will only grow faster. The recent surge in cryptocurrency prices has allowed the market cap of Bitcoin to exceed USD $600 billion, and the TVL (total value locked) in DeFi has increased from USD $700 million to USD $15 billion in only one year. As more companies begin to allocate their investments to cryptocurrency, traditional financial markets and governments have gradually started to pay attention to this industry. The biggest industry news has recently been the planned IPO of Coinbase (the largest digital currency exchange in the United States). Moreover, the governments of various countries will also begin formal supervision of cryptocurrencies.
With reliable risk control in place, more institutions and investors will be willing to participate in this market. Does this mean that 2021 will be the year we accelerate towards a “cryptocurrency standard”? We shall keep observing closely.