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CryptoRank Presents: Crypto Fundraising Recap, October 2023 3w ago by

Fundraising activity has reached its lowest level in the past three years. This can be attributed to the tightening monetary policy and the lack of new disruptive protocols. The limited variety of existing solutions has resulted in the emergence of numerous similar protocols. Consequently, the size of funding rounds has decreased as money has become more expensive and similar projects have proliferated.

For more insights and a detailed analysis of October’s investment trends, we invite you to read our new Crypto Fundraising Recap.

Executive Summary:

Crypto fundraising is currently experiencing a downturn, but the recent price rally and the potential approval of a Bitcoin ETF could stimulate fundraising activity.

The tightening monetary policy in the US has resulted in smaller round sizes and reduced overall investment.

A total of 112 deals worth $430 million were closed.

The highest funding amounts were received by Blockchain Service ($161.7M) and DeFi ($128.7M).

Fundraising Round Size Decreased, While the Number of Rounds Increased

The number of projects attracting investments continues to rise, with 112 projects raising investments in October, c…

The post CryptoRank Presents: Crypto Fundraising Recap, October 2023 appeared first on Coin Edition.