According to research by crypto market intelligence firm Messari, cryptocurrency funding in the third quarter of 2023 dropped to levels seen in the last quarter of 2020. 📉
Total funding in Q3 was just under $2.1 billion across 297 deals, a 36% decline in both categories compared to Q2 2023. 😮
Most of the deals in Q3 were concentrated in early-stage rounds: pre-seed, seed and series A investments. Seed funding was the largest round, with approximately $488 million in 98 rounds.
Chain infrastructure, gaming and decentralized finance (DeFi) sectors stood out as the most funded sectors in Q3. Investors are strategically positioning for the bull market by investing in projects that can yield larger profits when the crypto market moves in a positive direction.
Total funding in Q3 was just under $2.1 billion across 297 deals, a 36% decline in both categories compared to Q2 2023. 😮
Most of the deals in Q3 were concentrated in early-stage rounds: pre-seed, seed and series A investments. Seed funding was the largest round, with approximately $488 million in 98 rounds.
Chain infrastructure, gaming and decentralized finance (DeFi) sectors stood out as the most funded sectors in Q3. Investors are strategically positioning for the bull market by investing in projects that can yield larger profits when the crypto market moves in a positive direction.