VCs Continue Investing in Cryptocurrency Market Despite Downturn

IconCryptoNewsTerminal Staff03 Jul, 2024

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VCs Continue Investing in Cryptocurrency Market Despite Downturn

Venture capital (VC) investment in the cryptocurrency market continues, despite the recent downturn. According to a report from digital currency investment bank Galaxy Digital, VC investments in crypto and blockchain companies reached $3.19 billion in the second quarter of 2022. This is an increase from the $3.16 billion invested in the first quarter. Galaxy Digital's report indicates that the investment market is becoming increasingly competitive for crypto companies. The report predicts that if the current pace continues, this year's investment size could be the third-largest ever. Despite the recent market volatility, VCs remain bullish on the long-term prospects of the cryptocurrency industry. This is due to the increasing adoption of cryptocurrencies and blockchain technology, as well as the growing number of institutional investors entering the market.

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