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Corporate Giants Building During Crypto Bear Market

by Carolina Lynch

The crypto market has been in a bear market since its peak in November 2021, and the market has not seen much movement over the weekend. However, several prominent corporations have made moves into the sector recently, indicating that they are confident that the market will turn bullish again. Crypto YouTuber Lark Davis recently summarized the ten biggest companies getting into the crypto game, including BlackRock, MasterCard, Visa, Meta, Amazon, and Microsoft. BlackRock has launched a private spot BTC fund and partnered with Coinbase to offer crypto trading services. MasterCard has partnered with Australian crypto firm Immverse to enable crypto payments from Web3 wallets. Visa is offering a crypto card in 40 countries through a partnership with Wirex. Meta is working with Ethereum layer-2 solutions provider Polygon on its Instagram NFT marketplace, and Amazon has integrated Avalanche into its web services platform. Microsoft has teamed up with Web3 infrastructure provider Ankr and will offer a node service to its clients through the Azure cloud marketplace.

The crypto market has been relatively flat this weekend, with the total capitalization at $1.07 trillion and BTC and ETH remaining immobile. Altcoins, such as XRP, Dogecoin, Polygon, Litecoin, and Avalanche, have dropped a couple of percent on the day. Despite the bear market, these corporate giants are taking advantage of the situation and building their presence in the crypto space. This indicates that they are confident that the market will turn bullish again, and that the bear market is a good time to make moves and prepare for the future.

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