The cryptocurrency market is down by over 82%. This is down from its all-time high at $813 billion. The market is neck-deep and it has been 15 months since the bear market began. This started in January but over the last few months, it seems as though there has been a significant amount of support from some of the biggest financial institutions around. The currency market has seen a huge increase and this is especially the case when you look at adoption, institutionalization and more. This week, there have been a lot of reports that state that two major funds are now finalising a deal. This is between the Pantera Capital company and XRP. They have a $175 and a $100 million fund as well. This is going to be done with freshly raised capital and this is especially interesting to say the least. During a bear market, activity of companies, asset classes and even developers are often slumped and the interest in the sector declines. Indicators are coming in from places like Google Trends and they are stating that the cryptocurrency is an asset and it has dropped significantly in the last year. This is to be expected when you look at the scale of the bull market. This is a frenzy and it has really been fuelled by investors at the time. Of course, it’s important to know that when interest levels do drop, the inflow of funds drop as well. This leaves a ton of projects at risk and some of them may even shut down as well. This has been true for a ton of projects and investors are also declining, leaving many projects at risk of shutting down.
Sure, this has been true for a huge majority of projects but it is also safe to say that investment firms and even companies have worked hard to try and raise a significant amount of new capital. They are also trying to expand and they are also trying to handle even the worst of bear markets. The inflow of capital and even the effort that has been made in the currency space drop over the last 15 months but that being said, the increasing capital has been allocated to various quality projects and the teams are executing work that is better than ever before.
Investment firms such as Pantera Capital have been the first billion-dollar fund in the sector and they have been successful in raising a ton of money even through the steep correction. This is because investors are confident that the projects they are working on have survived the harsh cryptocurrency winter. In an investor letter, they have come out to say that they have managed to raise over $160 million of the $175 million target. This is for the Venture Fund III and they are also wrapping up a close for this month as well. The Pantera Capital team have also noted that in the coming months, the firm are going to work hard to try and help investors to target the businesses that are opening in this day and age. They are also going to try and help any emerging markets too. They also hope to help any developing jurisdiction and they are also trying to show an exponential increase in adoption too. One out of ten adults in the Philippines are said to be using Coins.PH and this is the biggest exchange around. The team are stating that they know the market incredibly well and this is because the institutional grade cannot go up after every single market. So the second exchange is going to be used to try and get traction, and they are also trying to gain a ton of volume as well. Some of the exchanges are not going to be developing loads in this day and age, but it is safe to say that they show a lot of promise for the future. They are also trying to stray away from the market so that they can create their own path. Michael Arrington who is the founder of Tech Crunch and even XRP Capital has come out to say that even though the exchange isn’t full of volume, a lot more needs to be done in order to try and give people the support that they need. They have also stated that they have had a $30 million round this week and that they have long-surpassed their target of over $100 million. Of course, more needs to be done to try and take this to that next stage, but in this bear market it’s normal to see companies drop to a very reasonable level. Sure, it’s compelling to see that investors feel as though they have missed out on the Bitcoin fever, but that being said, it does help to provide a ton of new acquisitions and it even helps people to invest in companies who might be more effective in dealing with compliance.