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The long Krypton winter has put the brakes on venture capital interest and investment in the sector. However, some projects are still attracting the attention of VC firms and institutions.
Venture capital firms have slowed down their crypto investments this year due to bearish market downturns.
Crypto VC will end in 2023
Ethereum advocate Evan Van Ness said on Sept. 1 Said“You’ve probably seen posts that “crypto VC” activity is down,” before adding that it’s not a demand-side problem.
“Although there are many zombie funds, there is still a lot of money. The problem is that there are not enough good startups. This is where we are in the cycle.
According to DeFiLlama, crypto funding dropped to $283 million in August. There is a 75% drop in investment from the same month in 2022 when investors pumped $1.15 billion into the market.
Moreover, at the peak of the last bull market in November 2021, investors pumped in over $7 billion into the market in just one month.
crypto fundraising. Source: Defilama
Crypto researcher ‘Samrat Osmo’ agreed, saying that “the bears have outdone the frothy valuations.” couple Today allocations are more carefully chosen. Researcher takes a look at five projects that are still garnering attention.
Pendle Finance is a project that provides tokenized yield and real-world assets (RWAs). Binance is a major investor, and the total value locked on the platform has increased by 850% since the beginning of the year.
Maple Finance is another tokenized real world asset marketplace for institutional investors. In August, it raised $5 million to facilitate market expansion in the APAC and LATAM regions.
Read more: What is the relationship between venture capital investment and crypto market prices?
In favor of NFT and bitcoin staking
NFT marketplace Drip Haus raised $3 million in August amid a sharp drop in NFT volumes. The platform allows users to receive free NFTs from their favorite creators and track NFT airdrops.
Ellipsis Labs is the team behind Phoenix, the first instant settlement DEX and liquidity center on Solana. On 17 August, it announced a $3.3 million seed round led by Electric Capital.
Bitcoin liquid staking platform Stroom also raised $3.5 million in August, joining the list of projects that are still attracting venture capital.
According to DeFiLlama, several protocols including Taco Protocol, DeForm, FirstMate and Raleon have raised seven-figure sums in the past few weeks.
disclaimer
In compliance with The Trust Project guidelines, BeInCrypto is committed to fair, transparent reporting. The purpose of this news article is to provide accurate, timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content.
Source: beincrypto.com
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