PitchBook Predicts Strong Cryptocurrency VC Investment This Year
CryptoNewsTerminal Staff20 May, 2024
PitchBook Predicts Strong Cryptocurrency VC Investment This Year
PitchBook, a capital market research firm, predicts that cryptocurrency venture capitalists (VCs) will invest $12 billion in blockchain and cryptocurrency projects this year. This represents a significant increase from the $2.4 billion that cryptocurrency startups raised in VC investments in the first quarter of this year. Robert Le, an analyst at PitchBook, said that in the previous bull market, VC investment was focused on Coinbase and startups developing the application layer. However, in this cycle, blockchain applications are attracting unprecedented investment. Infrastructure projects, such as Layer 1 blockchains, are particularly attracting attention. This is because these projects are essential for the development of the cryptocurrency ecosystem. PitchBook's prediction is a sign of the growing interest in cryptocurrency and blockchain technology. As more investors become aware of the potential of this technology, we can expect to see even more investment in the coming years.
