Big four auditing firm KPMG has released a bi-annual report on digital technology advances dubbed the Pulse of Fintech H1’21. It dedicated a section to blockchain technology and cryptocurrencies.

Per the report, the firm unveiled that the total investments into the blockchain world were more than double the record achieved in 2020.

The blockchain ecosystem journey into the year 2021 with increasing aspirations, not just with the possibilities of firms going public, but for these continuations of a bull cycle that was ignited toward the end of 2020.

Amongst the major highlights in the report is the investors’ outlook. The industry’s growth has also notably rubbed off on those who invest in the space as they now do so with an adequate understanding of how the entire terrain functions.

“In H1’21, a significant amount of institutional money flowed into the crypto space, highlighting the broadening of the investor base. Investor awareness and knowledge of the sector is growing, with investors now having a much better understanding not only about crypto assets but also the operational and procedural side of crypto — from custody and storage to storekeeping and the competitiveness and maturity of service providers,” The KPMG report highlighted.

As Bitcoin (BTC) met the public expectation, stirring the global market cap to a high above $2.5 trillion atop an All-Time High (ATH) of $64,500. According to the KPMG report, this growth trend permeated all aspects of the ecosystem, including Non-Fungible Tokens (NFTs).

The continued maturation of the crypto ecosystem is bound to continue in the second half, as postulated by the auditing firm. Many hurdles, including those bordering on regulations, are also bound to increase in the year’s second half. In all, the report noted that the remaining half of the year would witness a “stronger separation between cryptocurrencies and the use of blockchain technologies.”

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Bitcoin (BTC) seems not to be relenting in its quest to scale the heights, given that its upward momentum is still life days after breaching the psychological price of $40K. The top cryptocurrency was up by 2.15% in the last 24 hours to hit $46,159 during intraday trading, according to CoinMarketCap.

As 16.4% of the total BTC supply is back to profits, Crypto analytic firm Glassnode explained:

“Between the low of $29.7K, and the current price at $45.4K, a total of 16.4% of total Bitcoin supply returned to profit. This indicates that approximately 3.08M BTC were last spent, and thus have an on-chain costs basis in this price range.”

Furthermore, the latest surge has given short-term Bitcoin holders a reason to smile because their investments are back to positive values.

In May, BTC became the talk of the town after it nosedived from an all-time high (ATH) of $64.8K recorded in mid-April to lows of $30K. Nevertheless, the leading cryptocurrency is regaining lost grounds.

Bitcoin daily addresses eye the 1 million level

According to on-chain metrics provider Santiment:

“Address activity continues to be a very important metric to watch for hints on whether Bitcoin will cross $50K or fall below $40K. Currently 720K to 930K addresses use the BTC network daily, and we’re looking for a spike above 1m as a bull run signal.”

Therefore, a notable number of participants has been using the Bitcoin network., as acknowledged by on-chain analyst Lex Moskovski.

Significant on-chain resistance stands between $45.6K and $46.9K

IntoTheBlock believes that Bitcoin should shutter on-chain resistance between the $45.6K and $46.9K before getting the green light and heading towards the $50K level. The data analytic firm explained:

“As demonstrated by the high amount of trading activity, the biggest level of on-chain resistance for BTC in order to reach $50k is located between $45.6k and $46.9k, where 763k addresses bought 428k BTC.”

With an uptick in daily Bitcoin activity being recorded, whether this will trigger a surge to the psychological price of $50,000 remains to be seen.

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The selling pressure in the global crypto market was stumped on Friday as several coins began paring off their losses from the previous day.

Bitcoin’s market strides were visible as the largest cryptocurrency surged 1.72% to $46,146.24 at the time of writing. Ethereum (ETH) is also favoured by the bulls, inching a 3.04% gain to $3,237.66, according to CoinMarketCap.

Amidst the broader rise in price, here are the top gainers and losers for today, August 13.

Top Gainers

The Graph (GRT) is leading the altcoin surge today after the coin’s buyers pushed the price to $0.9413, atop an 18.30% gain. At this pace, The Graph is on track to break the $1 resistance level and journey down toward its 90-day high of $1.42. The Graph’s use case permits an increased embrace. It plays a role as an indexing protocol for querying data for networks like Ethereum and IPFS, supporting many applications in DeFi and the broader Web3 ecosystem.

Meanwhile, Cardano (ADA) has also shifted its price to its highest price gains of all time, surging above the $2 psychological level for the first time in 3 months. With several test nets deployed, the coin has enjoyed increased sentiment from buyers as the broader digital currency ecosystem prepares for the arrival of the Alonzo upgrade that will aid the emergence of smart contracts and DApps on the Cardano blockchain. The token has been tagged as undervalued. However, we may begin to see the coin’s true worth come to life with the new upgrade.

Top Losers

The majority of the tokens are paring off their losses. However, meme token Shiba Inu (SHIB) is the biggest loser amongst the altcoins topping the chart after inking a 0.50% slip in price to $0.00000795. IoTex (IOTX) was down 3.36% to $0.1102 during the intraday.

The momentum in the market may drive in such buying volatility that will stir these coins off the red zones. The global crypto market is currently on track to re-register a $2 trillion market cap to cover the weekend.

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