Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Without question, the biggest story of 2020 has to be Bitcoin’s dazzling return to $24,000 and beyond. Who would have thought this was possible back in March when BTC suffered an almighty flash crash that took it down to just $3,600?
Major altcoins were also basking in the glow of stellar returns this year. At one point this year, ETH was up 417% on where it started the year — outshining BTC in percentage terms, even though it’s some way off record highs.
Litecoin investors will also be popping open the champagne after prices managed to treble in 2020 — not bad considering it started the year at $40. And with all of these altcoins supported by PayPal’s crypto service, it’s very possible that their user bases will expand even further in 2021.
And who could forget DeFi — an industry that barely existed 12 months ago. Over the course of 2020, the total value locked in these protocols has leaped up by about 2,000%.
But as this festive edition of Hodler’s Digest was being written, one altcoin was suffering a rather spectacular fall from grace. The U.S. Securities and Exchange Commission announced it is taking legal action against Ripple — alleging that the XRP token is an unregistered security. After achieving highs of $0.76 in late November, the altcoin’s value has plummeted, and on Dec. 23, it fell below $0.30.
The history books will describe 2020 as a watershed moment for cryptocurrencies, but which companies, governments and organizations made the greatest contribution to adoption?
PayPal naturally makes the list. In October, it…