Digital asset investment firms poured $2.7 billion into decentralized finance (DeFi) projects in 2022, up 190% from 2021 as investments into centralized finance (CeFi) projects went the other way — falling 73% to $4.3 billion over the same timeframe.
The staggering rise in DeFi funding was despite overall crypto funding figures falling from $31.92 billion in 2021 to $18.25 billion in 2022 as the market shifted from bull to bear.
According to a Mar. 1 report from CoinGecko, citing data from DeFiLlama, the figures “potentially points to DeFi as the new high growth area for the crypto industry.” It notes that the decrease in funding towards CeFi could point to the sector “reaching a degree of saturation.”
(By BRAYDEN LINDREA)
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