After a tough time for cryptocurrency new businesses, there was a notable surge in VC (Venture Capital) funding in the year 2024.
Based on Bloomberg’s latest updates, venture capital funds experienced a significant growth of approximately 30% since the end of last year. Between January and March 2024, investments in crypto startups amounted to $2.5 billion, representing a substantial 32% surge from the previous quarter and reminiscent of the same period in 2023. Notably, top cryptocurrencies such as Bitcoin and Ethereum recorded impressive gains of over 50% during this timeframe.
A revival is occurring as cryptocurrency businesses obtain bigger investment amounts and venture capital firms establish fresh funds specifically for digital currencies.
In 2023 and the second half of 2022, venture capitalists were hesitant to use the funds they had accumulated during the crypto market’s previous surge. However, there has been a change in this pattern so far in the current year. Signs of an extended bull run are emerging in the market, including renewed popularity of meme coins.
Venture capitalists recognize the maturing trend in the industry, marked by a rise in efforts to involve larger investors. Nevertheless, according to industry insiders, significant improvements are essential for strengthening the crypto framework and drawing in greater investment.
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2024-04-08 19:22