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Cryptocurrency projects obtained 42.5% less funding in 2022 compared to what they received in 2021.
Still, last year’s capital was significantly higher than the figures in 2018, 2019, and 2020.
Funding in 2022
The crypto winter that hit the digital asset industry in 2022 has triggered a major market decline, an outflow of investor interest, and halted the expansion plans of some companies. According to a CoinGecko study, such firms had raised $21.26 billion last year, and almost half was secured during Q1, when the sector was in much better shape.
The numerous collapses of cryptocurrency projects by the middle of the year, such as the Terra crash and the bankruptcies of Three Arrows Capital (3AC), and Celsius Network, affected the investors’ sentiment and the raised capital in Q3 was just $3.61 billion.
The doom of FTX in November also played a role, as the fundraisers during the last three months of 2022 were worth less than $3 billion.
Cryptocurrency projects obtained 42.5% less funding in 2022 compared to what they received in 2021.
Still, last year’s capital was significantly higher than the figures in 2018, 2019, and 2020.
Some Leading Fundraisers Last Year
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