I don't think the pandemic had much to do with it. I think it had more to do with the politics seeping in and causing people to rethink about whether or not they want to stay on centralized mediums.
We saw Twitter, Facebook and others ban people. We also have been seeing more people get cut off from systems like PayPal so people want an alternative. Then finally we have people concerned about the mass printing of money caused by the pandemic so it may be indirectly caused by the 1st point. But I don't think it is a major reason why.
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@jfang003 valid points. I appreciate ya!