Join the Trading Community: Learn & Earn with Bingbon.
According to Blockdata statistics, disclosed crypto company financing reached $6.586 billion during the third quarter of 2021, containing about 339 deals, while the second quarter continued to hit a record high. The first and second quarter figures were $3.83 billion and $5.131 billion, compared to just $3.802 billion raised in 2020. Venture capital has invested more than $10 billion in crypto companies this year, up more than 160% from 2018, the previous peak year, according to PitchBook.
Axie Infinity developer Sky Mavis raised $150 million at a $3 billion valuation, led by A16Z. ConsenSys, an Ethereum technology company, raised $65 million in April from investors including JPMorgan Chase, Mastercard, UBS and others. ConsenSys expects its incubated MetaMask could grow to $1 billion in annual revenue next year. It was also revealed that MetaMask already has more than 10 million monthly users.
Bitcoin is now less volatile, trading sideways in the $54,500 – $56,000 range. The narrow range indicates that Bitcoin price is likely to face larger gains or declines in the short term. Near-term pressure is around $58,000. Once BTC breaks through this position, it will continue towards the $60,000 target. Conversely, if BTC falls below $54,500, it will have to seek further support around $51,500. Any positive or negative news will further magnify price volatility.