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KPMG specialists noted the maturation of the crypto industry

The cryptocurrency and blockchain sector continues to show signs of maturity despite global and ecosystem challenges. This is stated in the fintech report for the first half of the year from KPMG. The Block.

Experts noted the stability of sentiment in the market. According to their calculations, the level of investments by the middle of the year reached $14.2 billion, which is lower than last year ($32.1 billion), but significantly exceeds the figures for previous years.

Specialists identified investment rounds of Trade Republic ($900 million), FTX ($400 million) and ConsenSys ($450 million).

According to Alexander Stachchenko, director of blockchain and crypto assets at KPMG France, some startups, in the absence of other options, may have to lower their valuations to raise funds.

“Not everyone will be able to survive – especially if there are no clear and strong value propositions. From an ecosystem perspective, this will be beneficial as it removes some of the turmoil created during the bull market euphoria.”he explained.

The report talks about the change in the structure of the cryptocurrency market. Retail investors are giving way to institutional and corporate players in the influx of funds. In this regard, digital assets are beginning to show similarities with traditional financial instruments.

Experts noted the growing interest in the legalization of bitcoin from developing countries. The impetus for this was the decisions of the authorities of El Salvador and the Central African Republic.

Experts predicted increased interest in stablecoins. According to them, corporations view such assets as a tool to reduce transaction costs and delays, increase transparency, and also because of ease of use.

Recall that the US Congress has postponed consideration of the bill on “stable coins”.

Earlier, Messari and Dove Metrics analysts estimated the amount of funding for blockchain startups in January-June 2022 at $30.3 billion.

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