KPMG, a global accounting giant, forecasts the cryptocurrency and blockchain markets to continue their explosive growth. In a recent report, the firm said the cryptocurrency market is likely to see a "more diverse range of investors" considering investments in the space.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The firm found that during the first half of 2021 a "significant amount" of institutional money flowed into the space.
"Investor awareness and knowledge of the sector is growing, with investors now having a much better understanding not only about cryptoassets, but also the operational and procedural side of crypto," the analysts say.
Laszlo Peter, Head of Blockchain Services at KPMG Australia, admits China could create a "real alternative to the supremacy of the US dollar over time." Despite the fact that the whole digital currency race is relatively small scale now it has a lot of potential, Peter added.
At the same time, analytical company CB Insights estimates that blockchain startups raised over $4.3 billion in funding in Q2, which is 30% more than in Q1. The amount of funding in Q2 quarter turned out to be an all-time record and Circle — the issuer of the USDC stablecoin — gained the most by raising $440 million.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.