2022 will go down as a tough year for the cryptocurrency space and bleak market conditions were mirrored by a downtrend of venture capital funding flowing into blockchain and crypto activities.

A report from Blockdata highlights consecutive drops in funding through all four quarters of 2022, following booming venture capital funding into the wider Web3 space through 2021.

Analyzing data from CB Insights, Blockdata rounded off 2022’s final quarter of venture capital funding value noting a 34% decline from Q3 2022. The last quarter of the year was down drastically in funding value in contrast to Q1 and Q2, dropping by 67% and 53% in comparison to the two quarters.

The subsequent drop in venture capital investment dropped every quarter from an all time high of $11 billion in investments from a cumulative 692 deals in the first four months of 2022.

(By GARETH JENKINSON)

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