Crunchbase recently published a report that claimed that investor enthusiasm for all things crypto and blockchain has decreased as compared to last year. The report shows a downward trajectory for both ICOs and venture rounds for crypto companies.
According to Crunchbase data so far in 2019, investors have put an estimated $3.38 billion in ICOs and private fundings. And in 2018, investors put an estimated $12.86 billion in the companies.
Combined crypto market cap is around $264 billion, out of which 70% belongs to Bitcoin. The report suggests that the interest of investors have also gone down in blockchain-backed businesses. So far this year there has been around $2 billion worth of investment in blockchain and crypto businesses, not including ICOs, which is less than half of 2018.
The report showed that prominent venture capital firm Andreessen Horowitz has cut down on its investment as compared to last year. In 2018 the company participated in 14 funding rounds with an aggregate value of nearly $850 million. And this year the company has backed five deals valued at a little over $75 million.
This year two major fundings were secured by South Korean based Bithumb and San Francisco-based Kraken, both the companies secured fundings worth $200 and $100 million respectively.