Cryptocurrencies Bagged Largest Investment So Far in 2021, Beating Previous Records: Report


Quadruple the previous all-time high recorded in 2018, the crypto space managed to collect over $30 billion (about Rs 2,27,617 crore) in 2021. In 2018, the venture capital fund amounted to $8 billion (about Rs 60,704 crore). was seen in the crypto market. Per a report by Pitchbook Data, sentiment towards the cryptocurrency has gone beyond viewing it as “digital gold” this year. The major surge in the crypto market comes against the backdrop of bitcoin recording a breakout of 1,300 percent.

As reported by Pitchbook (via bloomberg), investors are funding around “anything” and “everything”. cryptocurrency,

“We have gone beyond just digital gold. We have non-fungible tokens (NFTs), Web 3.0, decentralized social media, financial services, art, gaming as a subcategory of play-to-earn – all of which got investors thinking ‘we have enough exposure’ Not there. ‘” The Bloomberg report quoted Spencer Bogart, general partner at investment venture firm Blockchain Capital, as saying.

Significant funding that the crypto space has secured in 2021 includes fundraising by crypto-related firms: Robin Hood And vice versa.

In the US alone, nearly $7.2 billion (about Rs 54,628 crore) was poured into crypto-related deals, making for a four-fold increase since 2018.

Earlier in December, crypto investment platform stacked Raised $35 million (about Rs 263 crore) in a funding round led by quantitative cryptocurrency trading firm Alameda Research and crypto-start-up investment firm, Mirana Ventures.

In October, crypto exchange platforms Woo Network Received $30 million (approximately Rs 223 crore) from various investors in a Series A funding round.

In the same month, a US-based NFT the company is called candy digital It also secured $100 million (about Rs 747 crore) in a Series A funding round co-led by private equity firms Insight Partners and SoftBank Vision Fund.

Other findings showed that the NFT sector has grown somewhat out of niche, an observation that coincides with previous reports highlighting the growth of this digital collectibles sector.

According to Market Tracker data, in the third quarter of 2021, the sales volume of NFTs increased to $10.7 billion (about Rs 79,820 crore), an increase of eight times from the previous quarter. DappRadar,

Despite the decentralized nature and reluctance to adopt due to volatility, the crypto space is flourishing in many parts of the world.

El Salvador Adopted bitcoin as legal tender in September.

The crypto market in Nigeria, Kenya, Tanzania and South Africa together saw a growth of 1,200 percent, reaching a market valuation of $105.6 billion (approximately Rs 775 crore) in one year, a report good Claimed by Chainalysis in September.

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Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.