Digital Wallet Protector’s NFTs Are Live, Bringing Spiritual Protection to the Blockchain
March 23, 2022, Tallinn, Estonia: In 2021, cryptocurrency addresses associated with criminal activities accumulated over $14 billion, according to Chainalysis, a blockchain data and analytics platform. The booming cryptocurrency space saw the cumulative market cap of all cryptocurrency projects rise to over $2.3 trillion. Concurrently, the economic activity of all blockchains rose to over $15 trillion from $2.3 trillion in 2020, providing an opportunity for malicious elements to take advantage of blockchains’ immutability to steal assets or scam unsuspecting cryptocurrency holders. Out of the $14 billion, criminals stole $3.2 billion of digital assets in 2021. The majority was from DeFi exploits and rug pulls.
As of March 22, 2022, DeFi protocols have a cumulative total value locked (TVL) of $214 billion. While DeFi flourishes, another crypto innovation, Non Fungible Tokens (NFTs), is rapidly finding adoption, commanding huge valuations, and finding integration in DeFi and other blockchain sectors. NFTs are blockchain-based unique items allowing holders to total control assets. They derive their security from the underlying blockchain and are typically in limited supply.