2018-2020: Bear Market and Institutional Interest

a. Crypto Winter (2018-2019):

• After the 2017 bubble, cryptocurrency markets entered a “crypto winter” in 2018. Bitcoin’s price fell drastically, and many altcoins lost significant value. This period was marked by skepticism and regulatory scrutiny.
• However, institutional interest in blockchain technology and cryptocurrency began to grow, with major financial firms exploring how to integrate digital assets into traditional finance systems.

b. Rise of DeFi and NFTs (2020):

• In 2020, DeFi (Decentralized Finance) projects began to explode, with platforms like Uniswap, Aave, and Compound offering decentralized lending, borrowing, and trading services.
• Non-fungible tokens (NFTs) became widely popular, allowing artists and creators to sell unique digital assets on blockchain platforms like Ethereum. NFTs gained attention in 2021, with high-profile sales of digital art and collectibles.