Key Takeaways:
- Memes that took hold of the crypto world in 2021.
NEW DELHI (CoinChapter.com) — 2021 was a roller coaster of a year for the crypto world. From Bitcoin and other cryptos’ ATH to crashes that wiped out billions of dollars.
Amidst all this, there were gains of meme coins that made many rich beyond their dreams and made crypto alluring for an entirely new generation of investors and traders. The internet and Twitterati celebrated each gain and mourned each loss with memes.
A meme is a virally transmitted image with text that makes a pointed commentary on social ideas or recent events. With that out of the way, here are some of the best memes of 2021.
5. The Gas Effect
What gave birth to the so-called Ethereum killers? Ethereum’s slow transaction speeds and the huge gas fee. The problem led Ethereum to implement the London hard fork in August, but the transaction fees are still high, especially for small transactions.
The Thanos analogy pretty much sums up the issues that Ethereum users face. A recent tweet by the cofounder of CoinGecko Bobby Ong highlights the absurdity of Ethereum’s gas fees.
4. Missed Out On Getting In Early On Bitcoin
One of the biggest regrets of every crypto enthusiast who got in on the crypto bandwagon a bit late, around 2018, is missing out on the young days of Bitcoin. From $0.0008 in 2010, BTC reached $69,000, resulting in gains of almost 8.6 billion percent in 11 years.
Bitcoin is alluring enough to make John Connor send the famous T-800 back in time to get some BTC, probably for the resistance, or bribe the machines. Bitcoin is a digital currency, after all.
3. Crypto Volatility In Full Swing
Financial markets are volatile, cryptocurrencies even more so. The famous crypto volatility was on full display in 2021. From the crypto market crash in May to Sept’s Bitcoin-led crash, crypto investors had a rough ride in the markets.
The meme aptly describes what investors felt when they saw their wallets after the crash in May 2021.
2. NFT’s Are The Rage
2021 is also the year of the NFTs. The global NFT market boomed this year, with a current market cap of over $65 billion. NFTs also entered the mainstream auction market, with Christie’s auctioning off a Beeple NFT for $69.3 million in March.
NFTs are easy to create, which means many would-be artists are queuing up to create the next million-dollar art.
1. Regulations And Bans
As cryptocurrencies gained mainstream, governments worldwide decided on regulating the market, which led to bans and regulations.
The meme pokes fun at Chinese investors’ predicament. Although India’s crypto law is still not passed or has any clarity, Indian investors remain anxious. However, the crypto world is not likely to accept binding regulations or bans without a struggle, as they believe regulations take away the decentralized nature of cryptocurrencies.
