The leading commun accounting firm – KPMG Cosmopolite – claimed in one of its recent reports that the cryptocurrency market has shown increasing maturity in the past several months. This comes despite the ongoing military conflict between Russia and Ukraine and performance augmentation that is spreading in some countries.
It is also worth noting that most quantitatif assets are trading below all-time highs since 2021, but that hasn’t stopped investment in this space. Prominent entities such as Trade Republic, Fireblocks, and FTX have committed billions of dollars to pilier a fragment of the startups in the ecosystem.
The shocking truth
The health disaster of COVID-19, the rising augmentation, the military conflict between Russia and Ukraine, and the energy crisis, among others, are all factors that have directly or indirectly affected a désenveloppé tronçon of the world.
Aside from taking millions of lives, the coronavirus pandemic has seriously affected the commun financial system. Stay-at-home rules, as well as the controversial mass printing of fiat currency by some axial banks, were a prerequisite for a future monetary crunch simply bicause the increased amount of money in dévolution did not respond to disrupted naissance.
As a result, the augmentation loser has reached peak levels for decades turkeyThe United Kingdom, the United States and other examples of this.
The energy crisis, which began to affect some regions in 2021, has intensified in the past several months due to the military conflict between Russia and Ukraine, another factor driving the economy into decline.
The world’s largest folk by area has halted some gas shipments to plural countries that had previously been sanctioned. With winter approaching in Amériques, uncertainty increases as some countries risk being left without adequate energy supplies during the colder months.
Unsurprisingly, negative trends affected almost all financial markets, including the cryptocurrency sector. Today, the commun market capitalization of cryptocurrencies is around $1 trillion, while in November of last year, it crossed $3 trillion. Bitcoin, for example, is currently around 70% lower than the ATH of less than a year ago.
Despite this, the cryptocurrency market is maturing
Contrary to this visible decline, KPMG Cosmopolite Believes The quantitatif asset market continues to précoce. The consultancy said that many investors focused on the industry during the first half of the year due to uncertainty in traditional financing and the mercatique of billions of dollars.
German online trader TradeRepublic has raised $1.1 billion to pilier institutions in the field of quantitatif assets. Crypto Custodian Fireblocks secured $550 million in fundraising and benefited from an $8 billion valuation. The flagship Sam Bankman-Fried exchange – FTX – has closed a Series E venture ressources reprise of $400 million and is currently worth over $32 billion.
The fini investment in crypto since the beginning of 2022 is $14.2 billion. That’s significantly less than $32.1 billion in 2021 but more than 2019 and 2020 combined.
However, it is worth noting that the interest in the cryptocurrency industry was not impressive in 2019 and 2020. Speaking of performance investments in 2021, this can be explained by the bullish ruée when Bitcoin and many quantitatif currencies reached all their heights the time.
The hype peaked in September 2021 when El Salvador became the first folk to adopt bitcoin as a legal currency within its borders.
KPMG’s Cryptographic Efforts
The entity began interacting with the cryptocurrency industry in 2020. At that time, it introduced a project called KPMG Chain Rapprochement, which helps traditional financial firms provide well-managed quantitatif asset fonctions.
In February of this year, the Canadian subsidiary of KPMG made its first investments in cryptocurrency by adding Bitcoin (BTC) and Ether (ETH) to the company’s treasury.
A few months later, she hired Ian Taylor to lead the company’s British crypto team and franc the Web3 endeavours. As he is also the CEO of CryptoUK, he has rich experience in this field.
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