2 / On a macro level, 2020 brought unprecedented levels of money printing and debt, yet bitcoin decoupled and outperformed equities and risk assets
3/ bitcoin remains king, reaching new market cap highs as institutions entered and the thesis matured
4/ 2020 was also DeFi’s year as protocols rapidly grew TVL and the open-source fintech stack emerged
5/ Stablecoin markets surged, with over $23B in supply issuance
6/ Regulators largely focused on token issuance and token markets, with decentralization as a key theme
7/ Onramps expanded significantly with PayPal and other fintechs leaning in
8/ Lastly, our team shares our bold predictions for 2021:
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