There were several significant events in the cryptocurrency market in 2020:

  1. The COVID-19 pandemic had a significant impact on the market, leading to a sharp drop in prices in March 2020. However, prices recovered quickly and reached new all-time highs later in the year.
  2. The U.S. Office of the Comptroller of the Currency (OCC) announced that national banks could provide custody services for cryptocurrencies, opening the door for more institutional investment in the market.
  3. Several major companies announced plans to adopt or invest in cryptocurrencies, including PayPal, Visa, and Tesla.
  4. The U.S. Internal Revenue Service (IRS) released guidance on the taxation of cryptocurrencies, clarifying the rules for individuals and businesses.
  5. The Ethereum 2.0 upgrade was launched, bringing significant changes to the Ethereum network.
  6. The DeFi (decentralized finance) sector saw explosive growth, with the total value locked in DeFi protocols reaching new all-time highs.

In summary, 2020 was a important year for the cryptocurrency market, with a range of key developments that have established a strong foundation for future growth.  These events and others helped to increase the mainstream acceptance and adoption of cryptocurrencies and set the stage for future growth in the market.