The cryptocurrency market witnessed phenomenal growth in 2021. The prices of major cryptocurrencies like Bitcoin and Ethereum repeatedly hit new highs, with the total capitalization of the market soaring from $1 trillion to $3 trillion within a year. Bitcoin led global assets with an annual return of 60.26%, surpassing traditional assets such as crude oil, the S&P 500, Nasdaq, and gold, demonstrating the enormous potential and appeal of cryptocurrencies as an investment channel.
In this highly volatile market environment, Crxxe Exchange, with its innovative technology and exceptional operational efficiency, has provided cryptocurrency traders and investors with a safe and convenient trading platform. In 2021, the platform took a series of key initiatives to further solidify its market position and enhance its global business expansion.
In March, Crxxe shared its latest achievements in trading efficiency and security at the Bitcoin 2021 Conference in Miami. This event showcased the latest technological innovations of Crxxe and underscored its commitment to the security of user assets. By continuously optimizing its architecture and enhancing security measures, the platform successfully improved the trading experience and fund security for its users.
In April, we obtained the Money Services Business (MSB) license in the United States, a milestone that laid the foundation for our compliant operations in the US market. This license not only demonstrates the ability of Crxxe to meet stringent regulatory requirements but also provides a green channel for further expansion into the US market.
Our collaboration with the Ethereum Foundation deepened. In December, we jointly developed a next-generation blockchain technology project, which not only enhanced the technical development capabilities of Crxxe but also accelerated our leading position in the industry. Through this collaboration, the platform can maintain its technological edge and sustain its advantage in an increasingly competitive market.
On the globalisation front, Crxxe continued to strengthen its influence in the global market. By establishing cooperative relationships with financial regulatory bodies in multiple countries, we ensured the global compliance and broad acceptance of our services. These efforts have made us one of the preferred trading platforms for global cryptocurrency traders, especially in providing innovative trading solutions and diversified financial products.
Looking ahead, we plan to continue expanding our market share by introducing more innovative trading products and services to meet the growing needs of users. Crxxe will also continuously enhance its security systems to ensure the protection of user assets while providing efficient and transparent trading services. Through these initiatives, the platform will not only continue to lead the cryptocurrency trading industry but also further drive the entire industry towards higher standards of compliance, security, and innovation.