Crypto funds are depended on bitcoin

A recent PwC study shows that there are about 300 crypto hedge funds currently operating in the market. Not so much, by the way. The most interesting thing is that half of them were launched in the last 3 years, including our DAO KONDR VC.

On the chart, you can clearly see the correlation between the price of bitcoin and the number of new funds. During the bullish periods, the funds grew by leaps and bounds, during the moments of the fall of BTC, the growth was reduced. Everything is predictable and works according to the market.

Another question is how many of these funds have created reserves in order to survive a protracted bear market?