Binance News
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2023 Q3 crypto market financing overview: Binance Labs leads the infrastructure, DeFi and gaming fields
Original author: Chase Devens
Original compilation: Deep Chao TechFlow
Crypto’s performance in the ongoing bear market is perhaps best exemplified by funding data in the space. Q3 2023 did not break away from the sequential quarterly downward trend we have seen since early 2022 - Q3 hit new lows in both total funding and deal count since Q4 2020. The quarterly total was just shy of 297 transactions totaling $2.1 billion, down 36% from the prior quarter.
Financing in stages
From the transaction stage analysis of the third quarter, we can see that most of the transactions are concentrated in the early rounds. Seed funds accounted for the largest total funding raised, with $488 million raised across 98 rounds. Trends in the number of deals show a clear shift from later-stage projects to earlier-stage projects compared to three years ago.
Original compilation: Deep Chao TechFlow
Crypto’s performance in the ongoing bear market is perhaps best exemplified by funding data in the space. Q3 2023 did not break away from the sequential quarterly downward trend we have seen since early 2022 - Q3 hit new lows in both total funding and deal count since Q4 2020. The quarterly total was just shy of 297 transactions totaling $2.1 billion, down 36% from the prior quarter.
Financing in stages
From the transaction stage analysis of the third quarter, we can see that most of the transactions are concentrated in the early rounds. Seed funds accounted for the largest total funding raised, with $488 million raised across 98 rounds. Trends in the number of deals show a clear shift from later-stage projects to earlier-stage projects compared to three years ago.
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