Bitcoin

<ul>
 <li>297 crypto companies raised $2.1 billion in Q3 2023, down 36% from Q2 2023.</li>
 <li>Only 1.4% of transactions featured firms raising a Series B or later.</li>
</ul>
As the bearish sentiment prevails, startup financing in the cryptocurrency sector has returned to Q4 2020 lows. <a href="https://thenewscrypto.com/pepe-coin-outpaces-shiba-inu-in-growth-rate-highlights-messari/" target="_blank" rel="noopener noreferrer nofollow">Messari</a>, a blockchain analytics business, said on October 5 that 297 crypto companies raised $2.1 billion in Q3 2023, down 36% from Q2 2023 and roughly 70% from Q3 2022. Overall, $488 million was raised over 98 arrangements, with the majority coming from seed capital.
The researchers stated:
<blockquote class="wp-block-quote">
 “Trends in deal counts show a significant shift away from later-stage projects and into early-stage projects over the last three years.”
</blockquote>
<h3 class="wp-block-heading" id="h-banking-on-blockchain">Banking on Blockchain</h3>
Only 1.4% of transactions featured firms raising a Series B or later. However, between Q4 2021 and Q3 2023, the proportion of deals funded via strategic financing rounds jumped from 0.2% to over 22%. During the quarter, family office Alpha Blue Ocean’s ABO Digital invested $200 million in <a href="https://thenewscrypto.com/the-islamic-coin-controversy-scam-or-innovation/" target="_blank" rel="noopener noreferrer nofollow">Islamic Coin</a>, located in the UAE.
The U.S was home to 54% of all engaged venture capital investors, more than the rest of the world put together, despite regulatory uncertainties. In addition, investor focus has changed from consumer-facing apps to blockchain infrastructure, with the latter receiving much more funding over the previous three months.
The researchers further added:
<blockquote class="wp-block-quote">
 “However, this trend may not last for long as more investors are beginning to realize that without successful user-facing crypto applications, infrastructure investments are less likely to generate their desired returns.”
</blockquote>
Bitcoin (BTC) may be setting itself up for a potentially positive month in October, according to historical statistics. This time of year often brings bullish moves to BTC, giving investors renewed optimism after a rough few months.
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Crypto VC Funding Dips to Q4 2020 Levels Amid Bear Dominance

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