In the context of extreme volatility in the global cryptocurrency market in 2020, a deeper trend emerged beyond price fluctuations: the industry began transitioning from its early, fast-paced experimental phase toward institutional construction. The pandemic-induced global easing, the first clear moves by mainstream institutions into crypto asset allocation, and several high-profile exchange security incidents significantly increased
In 2019, the crypto industry experienced a rebuilding of confidence and a reversal of trends. Bitcoin prices rebounded from early-year lows, and market funds gradually returned. Facebook launching Libra drew international regulatory attention, accelerating the process of cryptocurrency compliance. The introduction of Bitcoin futures provided institutional investors with more mature trading channels, and several countries designated blockchain