CoinVoice has recently learned that according to Bloomberg, venture capital in the cryptocurrency field fell sharply in the third quarter before the election enthusiasm of US President-elect Trump revived industry sentiment. PitchBook data shows that in the three months ending September 30, cryptocurrency startups attracted $1.7 billion in investment, down 31.3% from the previous quarter. The number of transactions reached fell 25.3% to 392.
"We believe this correction is a natural and necessary part of a healthy cryptocurrency market," PitchBook senior analyst Robert Le wrote in the report. Le attributed the decline in cryptocurrency venture capital deals to macroeconomic factors, including increased market volatility and concerns about a U.S. recession. As in the previous quarter, infrastructure projects such as new blockchains continued to be favored by venture investors in the third quarter. Le said he expects to see further consolidation between cryptocurrency exchanges, custodians and infrastructure companies in the future. [Original link]