The bear market is still in full swing, with large cryptocurrencies losing more than 80% in value compared to their highest values at the end of 2017. However, the ‘crypto winter’ proves to be beneficial for companies that focus on the blockchain infrastructure. technology.
Konstantin Richter, the CEO of Blockdaemon, a company that develops and hosts computer nodes, said for example that this is “the most productive stage ever”, and continued:
Projects must now show their true nature. The time in which they could easily raise a lot of money is over.
With the ever-decreasing price values, investors are becoming increasingly nervous. That is not surprising, since the technology behind cryptocurrencies, blockchain, is new and virtually untested. Sheri Kaiserman, co-founder of the investment firm Maco.la, says that her company chooses not to invest so much more in ICOs:
We felt that the best way to make money is to buy the infrastructure companies – the picks and shovels – that help build the foundation. They decrease considerably in value, which for us is an ideal result of the crypto-winter.
The development of blockchain technology is still at an early stage, but has enormous potential in the long term. Since the technology deals with transactions and data in a revolutionary way, companies can save billions in the future.