Mapping out investors in the crypto ecosystem

The cryptocurrency space in 2019 has continued to trend downward with bearish sentiment, coined “crypto winter.” Despite much enthusiasm when it comes to price, many institutions and investors have been hedging their bets that value will accrue and the industry and blockchain technology as a whole is here to stay.

JPMorgan announced release plans for its own “stablecoin”, pegged to $1. The influential investment bank is currently recruiting more blockchain positions than any other financial firm. Other consulting firms hiring for blockchain-related positions include Deloitte, Accenture, EY, and KPMG. Tech firms, such as IBM and Cisco, have also been increasing their blockchain staff. Facebook has been quietly building a team dedicated to blockchain, and like JPMorgan, it also plans to launch a stablecoin sometime this year. This year we have also seen Fidelity, one of the largest asset managers, go live with its Bitcoin custodial service. These are a few examples of the underlying fundamentals that have been driving the crypto ecosystem despite the bear market.