The crypto industry in 2023 witnessed a significant reduction in venture capital (VC) funding, experiencing a 68% drop compared to the previous year. Despite this downturn, the $10.7 billion invested in 2023 surpassed the amounts recorded in previous bear markets.
The year’s total investment notably exceeded $3.1 billion in 2019 and $3.2 billion in 2020, according to a report, signaling that while the landscape has cooled, it remains more active than in past down periods.
The Recorded Shift In Crypto VC Investment Trends
2023 witnessed venture capitalists directed their focus towards crypto and blockchain startups, contributing $10.7 billion, a stark contrast to the $33.3 billion boom in 2022. The majority of these investments were made in Q1 of the year, with a noticeable slowdown in the second half of the quarter.
However, according to the report, November marked an unexpected increase in funding. Interestingly, the year saw a shift in the allocation of deals, with increased suppor
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