The market crash wiped most of the gains that cryptocurrencies accumulated during 2021. Still, blockchain start-ups raised a record $25 billion in 2021, and the figure seems like it’s going to grow even more in 2022.
“If we are entering ‘crypto winter,’ it’s unlike the bear markets we’ve seen before,” said Konstantin Richter, CEO, and founder of Blockdaemon. “The crypto market today has institutional adoption. They see the promising crypto holds. Many institutions are long-term bullish on the tech.”
“We could head towards a crypto winter — and I think, honestly with any market, that’s not a terrible thing,” he added.