CandleFocus Graph Foundation Director: BTC Rally Fails to Rekindle Investor Interest in Crypto Startups
2024-09-09
Author: Content Editor
Investors' increasing interest in artificial intelligence (AI) may be causing a decline in funding for crypto startups, according to a director at The Graph Foundation. The director cites the larger amounts of money raised by AI firms in fewer funding rounds compared to crypto startups. Despite a slight increase in funding for crypto startups in Q2 2024, the number of funding deals has dropped by 12.5%. This decrease in investor enthusiasm for crypto projects coincides with a rise in the crypto market. The director suggests that investors may be unaware of recent developments in the crypto space, such as the success of crypto exchange-traded funds (ETFs) and the adoption of on-chain applications. The US continues to be a favorable hub for crypto startups due to factors like talent pool and access to capital, but the director acknowledges that other jurisdictions may eventually surpass the US in certain areas.
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