Web3 Startup Investment Sees Significant Drop in Q1 2023: Crunchbase Data

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Today’s Cryptocurrency Headline

According to data from Crunchbase, the amount of venture capital investment in Web3 startups in the first quarter of this year decreased by 82% compared to the same period last year, dropping from $9.1 billion in Q1 2022 to $1.7 billion, reaching a new low in Web3 company financing since Q4 2020. At the same time, the total number of transactions also saw a significant decline. The first quarter of 2023 recorded 333 transactions, a decrease of about 33% compared to the previous year. Additionally, in Q1 2022, Web3 completed 29 rounds of financing exceeding $100 million, while in the first quarter of this year, only two rounds of financing exceeded $100 million.

BingX’s Bitcoin Chart

Source: TradingView & BingX

In the past day, Bitcoin experienced a decrease of 0.24%, reaching a low of $27,311.25 during the day. The largest cryptocurrency was being traded at around $27,500 during the weekend, indicating a difficult battle between buyers and sellers. Technical indicators, such as the descending 20-day Exponential Moving Average (EMA) and the negative Relative Strength Index (RSI), suggest that sellers could have a stronger position. If BTC/USDT falls below $27,000, it could potentially slide further to $26,500.

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