Cryptocurrency Deal Financialย resources Investments Increase by 20% in August
The cryptocurrency deal financialย resources sector experienced a slight uptick in funding during August, regardlessย of the ongoing bear market. Althoughย while the number of projects securing funds hasย dropped, the total amount of funding hasย beenย growing. According to a report by Wu Blockchain, deal financialย resources investments in the cryptocurrency space reached $660 Million in August, a 20% increase from July. Nonetheless, this figure is still significantly lower compared to the same period aย yearย ago, down by 57%.
Preference for Webย 3.0, DeFi, and Infrastructure Projects
Webย 3.0 projects received the highest share of investments in August, followed closely by DeFi projects and infrastructure projects.
It isย worthย mentioningย that different sources present varying figures. Forย example, DeFiLlama reported lower funding rounds and a smaller number of investment projects compared to RootData. Notable funding rounds in August included Ramp, BitGo, Pendle Finance, and Maple Finance.
VC Investments Continue Regardlessย of Slump in Q2 2023
Regardlessย of a decrease in deal financialย resources investments for digital asset corporations in Q2 2023, recent developments, such as the successful funding round of decentralized exchange Brine Fi, indicate a gradual recovery and brighter future for the cryptocurrency industry.
Hot Take
Regardlessย of the overall downward trend, the increase in cryptocurrency deal financialย resources investments during August suggests resilience and probable for future growth in the industry.
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