Bitcoin Wallets Transferring Funds to Crypto Exchanges have Doubled Since January

Glassnode, an on-chain market analytics firm, has disclosed that addresses sending Bitcoin to crypto exchanges have doubled since January 2020.

The number of Bitcoin transactions to crypto exchanges stands at nearly 100,000 each day, and this is a notable change given that the majority of funds were being withdrawn in droves as the year started.

Bull Trend Pattern

Glassnode tweeted that the last time Bitcoin wallets making transfers to exchanges stood at around 100k unique addresses was during the peak bull market of 2017. 

The firm asserted that this trend had not been witnessed in recent times because what followed the bullish run in 2017 was a steep decrease in Bitcoin price.

Keeping a watchful eye in 2020

The crypto community’s expectations were high as 2020 kicked in because of the much-anticipated Bitcoin halving event that happened in May. Pundits, investors, and traders kept a keen eye on this event because mining rewards were slashed from 12.5 BTC to 6.25 BTC.

However, the coronavirus (COVID-19) pandemic took the world by storm, and measures like lockdowns and social distancing were put in place. The American administration resorted to printing over $6 trillion and pumping it to the economy as a bailout to the economic turmoil triggered by COVID-19. In turn, this has constantly increased the U.S. Dollar inflation rate, and it is anticipated to worsen if printing continues indiscriminately.

Therefore, investors seem to be looking for alternatives, and Bitcoin is coming in handy as depicted by the doubling of Bitcoin addresses making deposits to crypto exchanges. Additionally, fiat currencies like the dollar are inflationary because their value decreases with time-based on the printing of more money. In contrast, Bitcoin is deflationary as its supply is fixed at 21 million coins. As a result, its value is expected to increase with time. 

Collins Dictionary Names "NFT" as the Word of the Year

2021 is coming to an end, “NFT” has now been named the word of the year by Collins Dictionary. 

The dictionary said the word as a short form of Non-Fungible Tokens, representing an offshoot of blockchain technology that lets creators tokenize digital collectables and artwork. The word was accorded the most popular word as its usage has increased by 11,273% in 2021. Collins Dictionary lexicographers said the NFT word demonstrates a “unique technicolour collision of art, technology, and commerce” that has “broken through the Covid noise’ to become ubiquitous throughout the year.”

Other blockchain-related words, including “Crypto” and “Metaverse”, also made the Top 10 list of popular terms, with the former seeing a 468% increase in usage in the year-to-date period. 

Alex Beecroft, Managing Director of Collins Learning, said:

“It’s unusual for an abbreviation to experience such a meteoric rise in usage, but the data we have from the Collins Corpus reflects the remarkable ascendancy of the NFT in 2021. Its unique technicolour collision of art, technology, and commerce has broken through the Covid noise with dramatic effect.

“NFTs seem to be everywhere, from the arts sections to the financial pages and in galleries and auction houses and across social media platforms; whether the NFT will have a lasting influence is yet to be determined, but its sudden presence in conversations around the world makes it very clear our Word of the Year,” Beecroft added.

Earlier this month, Blockchain.News reported the popularity of the word NFT in the Chinese region, according to Google Search Trends, in remarkable growth.

In addition, the growth of the NFT word in China is considered an attempt from the Chinese investing community to embrace an alternative opportunity in crypto as Bitcoin-related transactions where it remains being banned, the global growth of the word highlights a broader factor fueling the popularity.

Top 5 Technology Trends that Might Shape in 2022 and Beyond

One word that has been on the tip of the tongue of almost every second person on this planet especially since the last decade, and that has completely revolutionized the world in which we are currently living, is none other than technology. 

Under the umbrella of technology, there are several terms with which might be already familiar, such as artificial intelligence, machine learning, deep learning, blockchain technology, cognitive technology, Data processing, data science, big data, and the list is endless. 

Isn’t it giving you goosebumps wondering how fast the technology is advancing? Let’s flick through some jaw-dropping statistics first. Did you know that there are more than 4.88 billion mobile phone users all across the world now? 

According to the technology growth statistics, almost 62% of the world’s population own a smartphone device. The number of mobile phone users has grown by 0.1 billion as compared to last year, leading to the fact that the figure is going to evolve more in approaching years. Statista predicts that there will be 75 billion connected devices (or even more than that) by the year 2025. Moreover, the Google Translate algorithm has enhanced its efficiency from 55% to 85% following the implementation of machine learning into its translation services. Thus, technology is evolving by leaps and bounds over time. 

Considering the technological innovations and advancements, here are the top 5 technology trends that will shape in 2022 and you should not miss out on staying competitive in this evolving tech-oriented world. 

So buckle up and let’s dive right into the article: 

5G Technology 

5G technology is highly expected in 2022 to outpace 4G. 5G technology will set the foundation for the connected and intelligent environment, not because of its superior speed benefit over 4G, but because of its low latency and reliability. The reliable bandwidth connectivity will help developers to work anytime anywhere. While various companies have already come up with 5G capable smartphones and devices, the semiconductor industry is the most likely to attain an advantage. 5G technology will reshape the mobility and high-tech landscapes over the upcoming decade, regardless of whether the technology companies are riding the 5G wave or not. 

Blockchain and NFTs

Even though a massive amount of people cryptocurrencies and blockchain technology, this revolutionary technology offers security that offers several benefits. You will notice more and more blockchain developers utilizing this technology in financial institutes’ audit trails, risk analysis, and several other validation services. Blockchain as a Service (BaaS) is a new trend that several companies are already adopting and several developers are already working on. Amazon and Microsoft are two giants building blockchains that offer BaaS service, hence revamping the future of blockchain technology. 

Intelligent TWS Earphones

Despite the coronavirus outbreak, the global True Wireless Stereo (TWS) Headsets market evolved by 78% over years and was expected to evolve year-on-year in 2021, reaching 310 million units. Since work from home is becoming the new normal and dependency on smartphones for different purposes is increasing, the demand for TWS earbuds is also increasing, resulting in a massive transformation in the personal audio space. Not only this, with the progressing maturity of machine learning and artificial intelligence, there is an opportunity for a more audible and richer audio experience.  With the widespread application of improved analysis, ML sensors, and accurate environmental noise detection, there is a high possibility that TWS earbuds with release functions such as physical health adjustment, etc. 

Tech for Remote work 

Organizations all across the globe implemented work from home as a quick response to the pandemic outbreak. Without a doubt, remote work is here to stay as enterprises across the globe acquire a hybrid work culture. While the globe retrofitted tech from the pre-pandemic era to fit their requirements, 2022 will see technology leaders innovate to achieve continuous business success, and support the productivity of their developers and employees using technology specifically designed for remote or hybrid work. Moreover, people who are working from home or are a part of a hybrid work environment want to have a touchless and hands-free mobile/computing experience just like the rise of TWS. Perhaps, 2022 will probably see technology being driven in that rut with artificial intelligence and connected device advancements. 

Enhanced Security Practices 

Without the shadow of any doubt, the world has experienced a plethora of cyberattacks especially during the past couple of years. Cyberattacks are evolving in parallel to technological innovations and advancements. Organizations all across the globe are striving and developers are working day and night to enhance the cybersecurity protocols. With that being said, organizations all around the world will increase focusing on cyber-physical systems, privacy laws, ransomware attacks on individuals, and corporate intellectual property. Moreover, AI and ML-powered remote identity verification tools via smartphones, digital passports, etc will play a pivotal role in fighting a strong battle against cybersecurity threats, chargebacks, and illicit activities in 2022. 

Unpredictable Future is on Our Way  

There would be no doubt in saying that 2022 will be the year in which the era of “Virtual Living” will come into being. Most of the developers and businesses will pay attention to technology that will help them to bring a better customer experience and value. We will notice more collaboration solutions and digital transformations, alongside the enhancement of computer capabilities. Robotic process automation, quantum computing will automate several complicated processes.  While present Internet of Things (IoT) has been designed and developed to be a reactive tool – spin into the action right after an event has been encountered, Artificial Intelligence of Things (AIoT) lies in being a proactive tool that can study as well as to detect events, providing predictive actions that can broadly influence consumer lifestyle – become as smooth as butter. 

The future lies in its convergence, as Artificial Intelligence of Things (AIoT) will impact every industry vertical in 2022 and in the approaching years. 

At the heart of it all, developers, regardless of which technology they are experts in or which industry they are working in, should always stay up to date with the latest technological trends to keep up their competitive edge in this ever-evolving world. They should keep their skill set updated to benefit the organizations they are a part of. 

Hence one thing is confirmed, technology evolution is never going to stop anyway.

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