{"id":175425,"date":"2023-05-13T11:32:33","date_gmt":"2023-05-13T11:32:33","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175425"},"modified":"2023-05-13T11:32:33","modified_gmt":"2023-05-13T11:32:33","slug":"crypto-vcs-dabble-in-2-6-billion-worth-of-deals-in-q1-2023","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/crypto-vcs-dabble-in-2-6-billion-worth-of-deals-in-q1-2023\/","title":{"rendered":"Crypto VCs Dabble In $2.6 Billion Worth Of Deals In Q1 2023"},"content":{"rendered":"

Despite the prevailing bearish trend in the crypto market, venture capital firms consummated several deals worth billions in the first quarter of 2023.<\/span><\/p>\n

Data from <\/span>PitchBook\u2019s Crypto Report for Q1 2023<\/span> disclosed that crypto firms generated $2.6 billion through 353 investment rounds.\u00a0<\/span><\/p>\n

Though the level of deals from the companies indicated the viability of the crypto space, there’s still evidence of its weakness.<\/span><\/p>\n

Report Highlights Declines In The Number And Value Of Investment Deals<\/h2>\n

According to the report, the first quarter of 2023 had the lowest amount of capital invested in the crypto space since 2020.<\/span><\/p>\n

The total deals declined by 12.2% from the last quarter, while the quarter-on-quarter deal value dropped by 11%.<\/span><\/p>\n

The report highlighted that Q1 2023 marks the fourth consecutive quarter of dipping investment activity for VCs.\u00a0<\/span><\/p>\n

Notably, the number and value of VCs deals decreased by 64.4% and 78.0%, respectively, from the same quarter in 2022.<\/span><\/p>\n

Further, the report indicated a mix in the valuation trends. Seed and late-stage rounds grew by 33.3% and 209.2%, respectively, compared with the full year of 2022. But early-stage rounds plummeted by 16.7% during the same period.<\/span><\/p>\n

Also, the report noted that the crypto bearish trend could continue. But the space still has some positive outlooks currently.\u00a0<\/span><\/p>\n

For instance, layer 2 scaling solutions have been doing great, maintaining their growth from last year.<\/span><\/p>\n

The data highlighted a blockchain-based firm, Blockstream, that raised $125 million for funding a Bitcoin mining infrastructure.\u00a0<\/span><\/p>\n

Also, another company committed to developing zero-knowledge Ethereum Virtual Machine scaling solutions, Scroll, has done well. The firm raised $50 million in a late-stage VC round.<\/span><\/p>\n

Overall Decline In The Crypto Market<\/h2>\n

The crypto market has continued to show red charts as prices of most assets witness more losses. Subsequently, the cumulative crypto market cap <\/span>declined<\/span> over the past 24 hours. Also, the total crypto market volume plummeted 8.10% within the past 24 hours to $42.75 billion.<\/span><\/p>\n

The primary crypto asset Bitcoin has been struggling within the past few days. According to data from <\/span>CoinMarketCap<\/span>, Bitcoin’s price has continuously declined for the past week.<\/span><\/p>\n

The token dropped from the $29,000 region to the $26,000 level. The seven-day price action shows that BTC plummeted by over 9%.<\/span><\/p>\n

At the time of writing, Bitcoin is trading at <\/span>$26,759<\/span> after losing minor gains over the past 24 hours. Its market cap now sits at $511 billion, with a market dominance of 46.30%.<\/span><\/p>\n

<\/p>\n

The altcoins are also seeing a declining price trend. Ethereum plummeted by 0.21% in the past 24 hours as the price moved to $1,800. Its seven-day active price shows a dip of over 7.40%.<\/span><\/p>\n

-Featured image from Pixabay and chart from TradingView.com<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the prevailing bearish trend in the<\/p>\n","protected":false},"author":3,"featured_media":175424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCrypto VCs Dabble In $2.6 Billion Worth Of Deals In Q1 2023 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/crypto-vcs-dabble-in-2-6-billion-worth-of-deals-in-q1-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto VCs Dabble In $2.6 Billion Worth Of Deals In Q1 2023 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Despite the prevailing bearish trend in the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/crypto-vcs-dabble-in-2-6-billion-worth-of-deals-in-q1-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-13T11:32:33+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Crypto-VCs-Dabble-In-2.6-Billion-Worth-Of-Deals-In-Q1-2023.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/crypto-vcs-dabble-in-2-6-billion-worth-of-deals-in-q1-2023\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/crypto-vcs-dabble-in-2-6-billion-worth-of-deals-in-q1-2023\/\",\"name\":\"Crypto VCs Dabble In $2.6 Billion Worth Of Deals In Q1 2023 - 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