European DeFi startups saw 120% increase in VC investment in 2022: Data
Despite the ongoing tumultuous market conditions, VC investments in European crypto startups hit an all-time high of $5.7 billion in 2022. 2022 was a turbulent year for the crypto space, to say the least; from an ongoing bear market and crash for LUNA to the downfall of FTX one of the industry’s most prominent players. Despite the setbacks, VC investors continued to show support for crypto startups. According to a new study released by European investment firmRockawayX, VC investment in crypto startups based in Europe reached its all-time high in 2022 with $5.7 billion invested European DeFi Startups hit $1.2 billion in 2022, which is a 120% increase from the previous year’s Investments of $534 million Viktor Fischer, the CEO of RockawayX, pointed out that the crypto market is cyclical and during the 2018 winter, “the total digital asset market cap fell by 80%, but startup funding activity held steady.” “Investments made when digital asset prices were depressed materialized in tech