2021 was a watershed year for cryptocurrency — a period of explosive growth, mainstream breakthroughs, and technological leaps that redefined what digital assets could achieve. From A-list celebrities embracing NFTs to entire nations adopting Bitcoin as legal tender, the crypto ecosystem surged into public consciousness like never before.
This wasn't just another year of incremental progress. It was a cultural and financial revolution unfolding in real time, fueled by innovations in DeFi, Web3.0, and the Metaverse. While volatility remained a constant companion, so did opportunity — for investors, developers, and early adopters willing to navigate the chaos.
Below, we revisit the 10 most defining moments of 2021 that shaped the future of crypto — and take a look at how CoolWallet evolved alongside this rapidly changing landscape.
CoolWallet’s Standout Achievements in 2021
The momentum of the crypto world in 2021 was undeniable, and CoolWallet rose to meet it with innovation and precision. As Bitcoin hit new all-time highs and DeFi protocols attracted millions of users, our team at CoolBitX focused on delivering secure, user-friendly solutions for an increasingly sophisticated market.
Our flagship achievement? The launch of the CoolWallet Pro in May 2021 — a next-generation hardware wallet designed for the modern crypto user. Built as the worthy successor to the popular CoolWallet S, the Pro model caters to advanced users who demand more than just cold storage.
Key features of the CoolWallet Pro include:
- Support for high-demand blockchains like Polkadot, Cosmos, and Tron
- Native integration with leading NFT marketplaces and DeFi applications
- Enhanced security powered by an EAL6+ certified secure element
- Seamless staking and DApp interaction directly from the mobile app
In addition to launching the Pro, we expanded support across multiple ecosystems:
Blockchain & Token Additions
- Binance Smart Chain (BSC): Full support for BNB and BEP-20 tokens
- Tron Network: Integration of TRC-20 assets including USDT, SUN, and JUST
- New Official Tokens: CRO (Crypto.com), BCNT, ORE, APENFT, WOO, CREAM, and more
NFT and DeFi Ecosystem Growth
- In-app access to OpenSea and Rarible via the Marketplace tab
- Dedicated Ethereum NFT Wallet to view and manage digital collectibles
- Integration with 1inch for optimized token swaps across DEXs
These upgrades ensured that CoolWallet users could participate fully in the booming NFT and DeFi scenes — securely and conveniently.
10 Defining Crypto Moments of 2021
1. Elon Musk Ignites the Meme Coin Craze
It all started with a tweet. In early 2021, Elon Musk — already a cultural force — publicly endorsed Dogecoin, sending its price from fractions of a cent to a peak of $0.73. His influence didn’t stop there: Tesla’s $1.5 billion Bitcoin purchase sparked a rally that pushed BTC to new highs.
However, Musk’s reversal — citing environmental concerns over Bitcoin mining — triggered a sharp correction. Still, his ability to move markets underscored a new reality: crypto sentiment is now intertwined with celebrity influence.
👉 See how top investors stay ahead of market-moving news before volatility hits.
2. Beeple Sells NFT for $69.34 Million
In March, digital artist Beeple made history when his collage “Everydays: The First 5000 Days” sold at Christie’s for $69.34 million — the first purely digital artwork sold by a major auction house.
Minted on Ethereum, this sale legitimized NFTs beyond speculation. Suddenly, digital ownership had real-world value, paving the way for NFTs to represent identities, memberships, in-game items, and even intellectual property rights.
3. Coinbase Goes Public
April marked a turning point: Coinbase listed on Nasdaq via direct listing under the ticker $COIN. With Q1 2021 profits exceeding $1.8 billion — more than its entire 2020 revenue — the IPO signaled institutional confidence in crypto infrastructure.
Its market cap briefly touched $100 billion, offering traditional investors a regulated gateway into the space without holding crypto directly.
4. China Cracks Down on Mining
In September, China banned all cryptocurrency transactions and mining activities — its harshest crackdown yet. While initially causing panic, the move accelerated global decentralization.
Miners relocated en masse to countries like the U.S., Kazakhstan, and Russia. Today, the U.S. leads Bitcoin mining with nearly 40% of the hash rate — a silver lining that strengthened network resilience.
5. The Summer of NFT Trading
From June to August, NFTs dominated headlines. Celebrities like Snoop Dogg, Paris Hilton, and Elon Musk showcased their digital art collections online. Projects like Bored Ape Yacht Club (BAYC) and CryptoPunks became status symbols in Web3.
Beyond art, NFTs evolved into utility tokens — granting access to exclusive communities, virtual events, and play-to-earn games like Axie Infinity, which paid players in cryptocurrency.
6. Layer 1 & Layer 2 Networks Surge
Ethereum’s scalability issues led to sky-high gas fees — sometimes over $50 per transaction. This opened the door for "Ethereum killers":
- Binance Smart Chain (BSC)
- Solana
- Avalanche
- Cardano
- Polkadot
Meanwhile, Layer 2 solutions like Polygon (MATIC) offered faster, cheaper transactions while maintaining Ethereum’s security — setting the stage for cross-chain interoperability.
7. Ethereum’s EIP-1559 Upgrade
In August, Ethereum implemented EIP-1559, a major upgrade that transformed how gas fees work. Instead of bidding wars, users pay a base fee that is partially burned.
Result? Over $5 billion worth of ETH burned since activation — making Ethereum deflationary during periods of high usage. This upgrade also laid groundwork for The Merge, Ethereum’s transition to proof-of-stake in 2022.
8. El Salvador Adopts Bitcoin as Legal Tender
In a world-first move, El Salvador made Bitcoin legal tender in September. President Nayib Bukele purchased BTC for national reserves, distributed $30 in Bitcoin to citizens, and even launched volcano-powered mining operations.
While controversial, it sparked global debate about monetary sovereignty and financial inclusion — especially in underbanked regions.
9. Facebook Becomes Meta; Square Becomes Block
Mark Zuckerberg rebranded Facebook as Meta, committing $10 billion to build the Metaverse. Meanwhile, Jack Dorsey renamed Square to Block, signaling deeper investment in decentralized finance.
These shifts validated the long-term vision of Web3 — where identity, economy, and social interaction live on blockchain-based platforms.
10. Polkadot Launches Parachain Auctions
Polkadot introduced its parachain slot auctions in late 2021, allowing projects like Acala and Moonbeam to secure dedicated chains on its network. With only 100 slots available, competition was fierce.
This marked the beginning of Polkadot’s role as a multi-chain interoperability hub, enabling seamless data and asset transfers across blockchains.
What Lies Ahead for Crypto in 2022?
While Bitcoin ETF hopes were dashed with only futures-based products approved in the U.S., the foundation for broader adoption has been laid. Institutional interest is growing, infrastructure is maturing, and use cases are expanding into gaming (GameFi), social platforms (SocialFi), and virtual worlds (Metaverse).
At CoolWallet, we’re committed to evolving with these trends — enhancing security, expanding multi-chain support, and integrating emerging DeFi protocols seamlessly into our ecosystem.
We’re also listening closely to our community. Expect exciting updates in 2022 that will benefit both CoolWallet Pro and CoolWallet S users alike.
Frequently Asked Questions
Q: Why was 2021 such a pivotal year for crypto?
A: 2021 saw unprecedented adoption by institutions, governments (like El Salvador), and celebrities. Major milestones included Coinbase’s IPO, Ethereum’s EIP-1559 upgrade, and NFTs entering mainstream culture.
Q: How did China’s mining ban affect Bitcoin?
A: While it caused short-term disruption, it ultimately decentralized mining power globally — strengthening Bitcoin’s network resilience and boosting mining operations in North America and Europe.
Q: Are NFTs more than just digital art?
A: Absolutely. NFTs now serve as access keys to exclusive clubs, in-game assets in play-to-earn games, concert tickets, domain names, and even fractionalized real estate ownership.
Q: What makes CoolWallet Pro different from other hardware wallets?
A: It combines military-grade EAL6+ security with mobile convenience and direct support for DeFi apps, staking, and NFT marketplaces — all within one compact card-sized device.
Q: Will Ethereum’s transition to proof-of-stake reduce gas fees?
A: The Merge improves scalability but doesn’t eliminate high fees alone. However, combined with Layer 2 solutions like Polygon and zk-rollups, transaction costs are expected to drop significantly.
Q: Is meme coin speculation sustainable long-term?
A: Most meme coins lack fundamentals, but some — like Dogecoin with active development or Shiba Inu with its ecosystem plans — may retain value if they deliver utility beyond hype.
The journey through 2021 proved one thing: crypto isn’t a passing trend — it’s the foundation of a new digital economy. Whether you're securing assets with a hardware wallet or exploring decentralized identities in the Metaverse, the tools and opportunities have never been greater.
👉 Stay prepared for the next wave of innovation — explore secure crypto management solutions today.