The global meltdown in blockchain venture funding has caused venture deals in the USA and Asia to rapidly decline in Q2. However, Europe is overseeing a reverse trend as they have catapulted to a 25% rise in venture funding for blockchain startups compared to the previous quarter.
The blockchain venture funding plunged up to 22% from $12.5 billion brought up in the first quarter to $9.8 billion in the second.
With an increase of 189 percent from the first to the second quarter, the African subcontinent is another region that has seen growth. While the US and Asia both experienced reductions of 43.4 and 23.8 percent, respectively.
With its recent achievements, Europe has just barely surpassed Asia to take second place in the amount of blockchain venture funding raised worldwide.
The United States maintained its lead with a total of $5.4 billion raised, contrasted to Europe’s $1.8 billion.
Probably the most active investors for European projects were Animoca Brands, Coinbase Ventures, GSR, Polygon Studios, and Jump Capital. The worldwide decrease in funding is the first in blockchain venture funding since 2020.
Nonetheless, the disturbances in crypto markets has likewise prodded mergers and acquisitions in the second quarter.
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