The cryptocurrency and blockchain industry grew by leaps and bounds in 2020. The top two assets, Bitcoin (BTC) and Ether (ETH), gained 303% and 469%, respectively, which can be considered extraordinary in comparison with the 25% return of gold. While the precious metal is often considered a safe-haven asset, the two digital assets outperformed gold during the uncertain market scenarios that persisted due to the pandemic.
Joshua Frank, co-founder and CEO of The Tie — a firm providing crypto insights based on social media analytics — told Cointelegraph: “Across the largest 100 assets by market cap, the average cryptocurrency experienced an 87% increase in average tweet volume — with Bitcoin surging by 95%.”
Frank added that even though this current rally is driven by institutional interest, retail interest seems to be rising as well. All this will ultimately lead to a rise in interest in altcoins: “It is worth monitoring which mid-cap assets continue to see surging social activity