Q3 was a negative quarter for blockchain startups, as investments fell by 20%

Specialists from Galaxy Digital conducted an in-depth analysis and found that in the third quarter of this year, the volume of venture investments in blockchain startups decreased by an impressive 20%, reaching $ 2.4 billion.

In the previous quarter, investors focused on memecoins and bitcoin, which led to financial difficulties for mid-level projects. The number of startup funding deals decreased by 17%, amounting to 478. However, total investments increased by 21.5% compared to the previous quarter.

Researchers noted that the long-term correlation between the bitcoin rate and crypto fund funding was broken. Most of the funds were attracted by crypto exchanges, developers of decentralized applications and services based on L1.

In the third quarter, startups offering projects based on artificial intelligence became more attractive to investors. The leaders in terms of venture investment volume were the USA, Singapore, Great Britain, the UAE and Switzerland.