Ethereum

Global Cryptocurrency

BUSD

In the world of cryptocurrency, 2023 was an interesting year. Even though most cryptocurrency investments saw a drop, a few projects didn&#39;t just survive – they thrived. These projects did well because they had smart ideas, strong plans, and clear goals that got the attention and trust of investors. Let&#39;s take a look at <a href="https://tradedog.io/why-these-5-projects-thrived-despite-crypto-vc-funding-dip-in-2023/" rel="noopener noreferrer nofollow">five</a> such projects that did great despite the tough times.<ol><li>Pendle Finance Pendle Finance helps people earn money from their cryptocurrency. They have a platform where you can earn money without locking it up for a long time. You can also choose to bet on whether the money you earn will go up or down.</li></ol>What they offer:<ul><li>You can earn 5.37% on stETH.</li><li>You can earn 2.93% on USDT.</li><li>You can earn 6.55% on sfrxETH.</li></ul>What makes them special:<ul><li>Pendle Earn: You can make money from cryptocurrencies without locking them up.</li><li>Pendle Trade: You can bet on whether your earnings will go up or down.</li></ul>In August 2023, Binance Labs invested some money in Pendle Finance to help them grow and serve more people. Before that, they raised $3.7 million in April 2021 from Mechanism Capital, Crypto.com Capital, Hashkey Capital, Spartan Group, the CEO of DeBank, Taiyang Zhang, and others.What makes them unique:<ul><li>They let you trade the money you earn from cryptocurrencies.</li><li>They offer new ways to make money with cryptocurrency.</li><li>They work with many other cryptocurrency platforms to make things better for users.</li></ul>2. Maple Finance Maple Finance is like a place where big companies can lend their money to other big crypto projects and make more money from it. It&#39;s not just a regular lending place; it&#39;s managed by experts who make sure everything is safe and profitable.On Maple, they take the money from different big lenders and give it to big companies that need it for their business. It&#39;s a special place on the internet that only lets important people and companies use it.So far, they&#39;ve given out over $2 billion in loans, and people have put in more than $54 million.They recently got $5 million in funding from important investors like Tioga Capital, Blocktower Capital, GSR Ventures, Cherry Ventures, Veris Ventures, and The Spartan Group.What makes them special:<ul><li>They help big companies lend money to other big crypto projects.</li><li>They let people lend money to each other without anyone in the middle.</li><li>They work with other crypto places to make everything work even better.</li></ul>3. Ellipsis Labs Ellipsis Labs is a company that&#39;s all about making the decentralized finance (DeFi) world work better. They&#39;re doing this by creating something called Phoenix, which is like a special computer program on the Solana blockchain. Phoenix helps people trade cryptocurrencies in a safe and open way. What&#39;s cool is that it&#39;s all on the internet and you don&#39;t need a middle person to make it work.They got some money to make Phoenix even better. Important people and companies, like Electric Capital, Robot Ventures, and others, gave them $3.3 million to keep going.What makes them special:<ul><li>Phoenix helps people trade cryptocurrencies safely on the Solana blockchain.</li><li>Everything they do is on the internet, so it&#39;s open and safe.</li><li>You don&#39;t need anyone else to make it work, which makes it easy to use.</li></ul><ol><li>Stroom Network Stroom Network is like a special tool for the Bitcoin Lightning Network. It helps people earn more Bitcoin while still being able to use their Bitcoin whenever they want.</li></ol>They also got some money to make their tool even better. Important companies like Greenfield, Lemniscap, No Limit Holdings, and others gave them $3.5 million.What makes them special:<ul><li>Stroom Network helps people earn more Bitcoin while still being able to use it.</li><li>You can use your Bitcoin whenever you want, even if you&#39;re earning more.</li><li>They want to make the Lightning Network even better by adding more Bitcoin to it.</li></ul>5. Tako Protocol Tako Protocol is like a special tool for the internet that helps you find things you might like. It&#39;s all about making the internet a better place for people to share stuff and find interesting things. This tool helps computer programmers create things like suggestions, ads, and other cool stuff that works on different parts of the internet. The main idea is to make the internet more fun and useful for everyone.Some important people and companies gave them $2 million to make their tool even better. These include Mask Network, DWF Ventures, UOB Venture, Signum Capital, AC capital, SmrtiLab, HashBrown Research, RSS3, and other angel investors.What makes them special:<ul><li>They make the internet a better place by helping people find cool stuff.</li><li>Their tool works on different parts of the internet.</li><li>They want to make the internet more fun and useful for everyone.</li></ul>Conclusion: In 2023, we saw projects like Pendle Finance, Maple Finance, Ellipsis Labs, Stroom Network, and Tako Protocol succeed even when the crypto world was a bit shaky. They showed us that if you have good ideas, can change and adapt when things get tough, and make things that people like, you can do well in the crypto world. These projects teach us that even when things are uncertain, the crypto world is still a great place for new ideas and growth.

Navigating Stormy Waters: How These 5 Projects Thrived Amidst the 2023 Crypto VC Funding Dip

tradedog

Other articles published on Sep 12, 2023

Synapse Launches Testnet for Synapse Interchain Network and Synapse Chain

SBF’s Legal Team Requests Prison Release Over Internet Access Issues

FTX Sues LayerZero for Alleged Unauthorized Fund Withdrawals

Alert: CoinEx Faces $27.8 M Attack; ETH, TRON And Polygon Compromised

Bitget launches $100 million fund to boost its ecosystem

Bitcoin Bears Tighten Grip as RSI Plunges and Whales Sell Off

Join our free newsletter for daily crypto updates!