Recent crypto and blockchain investments confirm bear market is over

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August 25, 2021 4 min read

This story originally appeared on ValueWalk

Cryptocurrency and blockchain companies continue to garner a lot of attention in recent months. Even though it looked like the industry was recently subjected to another bear market, that sentiment evaporated. The following companies have secured significant capital to expand the wider ecosystem for adoption by the general public.

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The bear market is over

While cryptocurrency market prices underwent a 50% correction earlier this year, momentum now appears to be resuming its uptrend. The prices of assets like Bitcoin and Ethereum are slowly recovering, fueling increased demand for cryptocurrencies. In addition, external companies, such as PayPal, now offer support for cryptocurrencies outside of the United States, making exposure easier. All of these developments are great, but they would not be possible without the right infrastructure.

Speaking of infrastructure, several companies and projects obtain significant funding. A sign of good health for the entire industry, as there are still many areas for improvement. Whether it’s decentralized finance, Web3 advertising, non-fungible tokens or anything else, there are still plenty of opportunities. Investors and venture capitalists pay close attention to these procedures, which have resulted in several recent successful funding rounds.

As the global interest in non-fungible tokens (NFTs) grows, there is a huge opportunity for service providers. For example, ENVOY Network, a project to build various products and services to accelerate widespread adoption of DTVs, has raised $ 2.5 million in funding. Additionally, the team can create NFT oriented solutions for businesses and individual users. Some features to look forward to are trade, staking and farming discounts, governance voting perks.

DeFi remains a popular industry

The concept of decentralized finance brings economic equality to every citizen of the planet. However, the current generation of solutions are primarily aimed at existing users of cryptocurrency. There is a lot of room for improvement in this regard. It is essential to bridge the gap between traditional finance and the needs of the masses.

Scallop, a project positioning itself as a DeFi neobank, bridges the gap between fiat and crypto in the retail banking segment. With $ 2.5 million in strategic funding secured, the project can focus on its B2C approach. Bringing digital assets to the real world is a big step forward. The widespread adoption of decentralized financial solutions may require the use of a “one-for-all” banking-type solution.

OpenSwap, a DeFi project that focuses on cross-chain compatibility and increasing cash flow for merchants, got $ 1.5 million in its last round. As the OpenSwap team rolls out new technology upgrades, funding will help fuel this process. The concept of interchain exchanges and hybrid intelligent routing are just two examples of what this protocol brings to the table.

For the first digital asset investment bank Greengage, the 2.5 million financing from IOVLabs will prove beneficial. The funds will help the team expand their operations, create new technologies and more. As the company is still awaiting its banking license in Gibraltar, it is time to focus on other aspects that are crucial to becoming a digital asset investment bank. The Greengage Project connects traditional fiat money banking with digital asset and cryptocurrency trading.

Web objective 3 is tangible

Beyond DeFi, the focus is on Web 3, or the Internet’s next evolution. Removing centralized data silos from the equation is a daunting task. However, several service providers aim to decentralize all aspects of the Internet and empower users.

ReSource Finance, a decentralized credit protocol for providing sub-guaranteed credit to Web 3 businesses, is a good example. The team raised $ 1.7 million in financing to boost customer acquisition and improve its reputation-based credit lines for SMEs. Providing credit without middlemen is a popular concept but gets a bit trickier when real world businesses are involved. Despite this, the ReSource team will bring the best web 3 business lines of credit in the world.

Parami, a Web3 advertising platform, sealed a $ 3 million funding round a few days ago. The money is used to create privacy protocols on blockchains and to give users more control over their data and identity. The team also intends to fund blockchains that preserve privacy.

Closing thoughts

The large amounts of funding circulating in this industry confirm that the bear market is over. New generation infrastructure construction projects for current purposes are attracting attention and have enormous potential. Whether they all succeed is another matter. Blockchain and cryptocurrency are still relatively new industries where success is never guaranteed.

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