Binance reveals where cryptocurrency funds are investing. It seems that they are ready to invest the most funds in gaming projects, as well as in areas related to payment systems and trading platforms.
Despite the bearish trend that has dominated this year, venture investors continue to invest in projects from the crypto industry. The most popular area was related to Web3 games.
Over the past 12 months, it has raised more than $645 million. Other areas in demand among funds are projects focused on payments and trading platforms.
The most active funds in terms of the number of transactions were Coinbase Ventures, HashKey Capital, Shima Capital, Polygon Ventures and DWF Labs. For example, Coinbase Ventures allocated one third of its own investments to DeFi companies and almost 40% to infrastructure projects.
Six companies with valuations exceeding $1 billion have attracted investments. These include the Ramp payment platform, valued at almost $6 billion, the Copper project and the LayerZero protocol, whose valuations reach $3 billion.
It was recently announced that Andreessen Horowitz intends to invest $3.4 billion in early-stage startups, including crypto projects. The venture fund is preparing to attract financing for investments at the end of 2023. He plans to close all deals in the first half of next year.
Interestingly, last summer, K33 Research analysts stated that venture capital investments in the Web3 direction decreased markedly in the first quarter of this year, showing a drop of 80% compared to the same period in 2022.
According to Cryptorank, for the nine months of this year, venture investments in cryptocurrency projects amounted to $6.7 billion, which is more than 80% less than last year’s figure for the same period.
What do you think about promising crypto projects?