The cryptocurrency market is in a bear trend that seems not to have an end. Since December 2017, Bitcoin lost more than 80% of its value and it remains close to the bottom.
However, there are some firms that are starting to place their funds in the market and are helping the space to be more mature and developed.
Crypto Market Keeps Expanding
There are several financial institutions that are showing interest in the cryptocurrency space. A few days ago, two major funds, Pantera Capital and XRP Capital announced they are finalizing a $275 million fund with money that they were able to raise from investors.
During the last bear market, several companies and projects had to stop operating in the space. Many projects fired personnel and many others stopped developing their ideas. This decrease in activity in the market can also be seen in Google Trends, that suggests that the interest for Bitcoin (BTC) plummetted from its highest point.
Although many projects have shut down their operations, those with funding from larger companies, or the most profitable ones are those that did not stop operating. Clearly, capital invested in crypto projects dropped substantially, but the most competitive firms continue to receive large amounts of funding from other companies.
Pantera Capital is one of these participants in the market that continue with their operations in a very positive way. Pantera Capital manages its own billion-dollar fund and was able to raise hundreds of millions of dollars. Investors remain bullish about the quality projects that remain in the space.
The team behind Coins.ph, commented:
“There is an additional opportunity for players who know a certain market really well because the institutional-grade exchanges can’t go after every market all at once. So, the second type of exchange we are investing in are ones in developing jurisdictions, where crypto is just starting to get traction.”