Funding for Crypto projects is even lower right now than during the 2018 bear market. We are -98% down from 2021 levels too. Seems like shitcoins don‘t get the money anymore.

Not every project in Crypto is backed by billionaires in the first place or has millions at its disposal. There are also many legitimate Crypto startups that try to develop completely new technicals for all of Crypto or just have some interesting ideas. For any industry it is of vital importance to have such startup projects that dare to think of something new and refreshing.

Now of course it is no secret that they usually get millions of dollars in funding because they need to hire people and have other capital costs, that money usually comes from Venture Capitals. Those are interested in every risky trade and leverage, they do kind of enslave the company, but there is just no other way for start-ups.

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Chart showing monthly funds flowing into Crypto through Venture Capitals, from DefiLlama

Here we can see a chart that may be one of the best to show how flipping brutal this bear market actually was. Down from nearly $7B monthly funding through VCs for Crypto, we are now at just $109M, that is a massive 98% decline. In fact that has now been an even worse month fr VC funding at Crypto, than any month in 2018. That is quite disastrous and just shows how this bear market on many levels was worse than in 2018.

This makes it even more applaudable for those Crypto startups that will actually survive this bear market, a huge respect for them to withstand the biggest test of resilience they will probably ever have to endure. Just similar to how we had to show our endurance, they did too.