New KPMG Report Suggests Potentials for Increased Maturation of the Cryptocurrency Space
Godfrey Benjamin Aug 13, 2021 09:10
The latest bi-annual report released by KPMG highlights the growth of the crypto ecosystem and postulate the possibilities of trend sustenance.
Big four auditing firm KPMG has released a bi-annual report on digital technology advances dubbed the Pulse of Fintech H1’21. It dedicated a section to blockchain technology and cryptocurrencies.
Per the report, the firm unveiled that the total investments into the blockchain world were more than double the record achieved in 2020.
The blockchain ecosystem journey into the year 2021 with increasing aspirations, not just with the possibilities of firms going public, but for these continuations of a bull cycle that was ignited toward the end of 2020.
Amongst the major highlights in the report is the investors' outlook. The industry's growth has also notably rubbed off on those who invest in the space as they now do so with an adequate understanding of how the entire terrain functions.
“In H1’21, a significant amount of institutional money flowed into the crypto space, highlighting the broadening of the investor base. Investor awareness and knowledge of the sector is growing, with investors now having a much better understanding not only about crypto assets but also the operational and procedural side of crypto — from custody and storage to storekeeping and the competitiveness and maturity of service providers,” The KPMG report highlighted.
As Bitcoin (BTC) met the public expectation, stirring the global market cap to a high above $2.5 trillion atop an All-Time High (ATH) of $64,500. According to the KPMG report, this growth trend permeated all aspects of the ecosystem, including Non-Fungible Tokens (NFTs).
The continued maturation of the crypto ecosystem is bound to continue in the second half, as postulated by the auditing firm. Many hurdles, including those bordering on regulations, are also bound to increase in the year's second half. In all, the report noted that the remaining half of the year would witness a “stronger separation between cryptocurrencies and the use of blockchain technologies.”
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