In 2021, the crypto industry broke records in almost all indicators. 

New Crypto Industry Records in 2021

The Block’s analysts have summarized the results of the outgoing year, announcing new record-breaking figures for the crypto industry. These include a record trading volume on centralized cryptocurrency exchanges and a record amount of funds raised by crypto custodians from institutional investors. 

In 2021, the total volume of digital asset transactions made by users of centralized cryptocurrency exchanges exceeded $14 trillion, which is a 689% increase over 2020. The largest platform at year-end is Binance, which accounts for about 67% of total transactions, or ~$9.5 trillion. 

Institutional investors invested more than $3 billion in crypto custodians, which was also a record in the industry. NYFIG, Fireblocks, Ledger and Anchorage were the largest custodial projects by investment volume. 

According to The Block’s analysts, the growth of investments in crypto custodians will affect the development of the cryptocurrency industry as a whole. In particular, we can expect the emergence of new technologies and services for the storage of digital assets, as well as increased attention towards cryptocurrency custodians by members of the traditional financial market. 

As a reminder, the total volume of investments in cryptocurrency projects in 2021, according to various estimates, amounted to between $25 and $30 billion.

Author: Mark Wallerstein