Posted 4/9/2024, 3:05:00 PM
Pandemic Crash Leads to Explosive Growth of Crypto and DeFi
- COVID-19 pandemic causes crypto market crash in March 2020, but leads to surge in interest and DeFi development
- Compound introduces yield farming in June 2020, sparking "DeFi Summer" bubble
- Third Bitcoin halving occurs in May 2020, reducing mining rewards to 6.25 BTC
- NFT market takes off in 2021 with projects like CryptoPunks and Bored Ape Yacht Club
- OpenSea dominates NFT market in early 2022 but trading volume falls 99% during the year
