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Can crypto’s recent wins resurrect venture interest?
Like a tenacious balloon, no matter how hard crypto gets knocked down, it tends to float back up again. But the current crypto bust looks a bit different.
After a lengthy downturn — a crypto winter, if you want — blockchains and their constituent tokens and services seem to be on a rebound. Data paints the picture: Spot trading volumes reached a 12-month high earlier this month, the total value of crypto tokens has appreciated materially in recent months, and even NFTs are showing signs of life. Yet, despite the run of positive news, venture capitalists’ interest in web3 startups continued to decline in Q4 2023, dipping further underneath a severely depressed third-quarter figure.
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