BlockArabia.com, blockchain companies raised $30.4 billion in total funding, a massive 44% increase in a year.
According to data presented by BlockArabia.com, the increasing number of organizations accepting cryptocurrency and the growing interest in blockchain technology continue to drive the entire sector’s impressive growth.
However, recent years have also witnessed a surge in the number of venture capitalists pouring money into blockchain companies.
In 2019, blockchain companies raised $4.3 billion, with the cumulative funding amount going up to $20bn that year. However, statistics show 2020 brought even less fresh capital, with companies raising only $2.4 billion.
The Crunchbase data showed 2018 was a record year for investment activity in the blockchain market, with companies getting funding of around $10.7 billion that year. However, the next two years brought a significant slowdown in venture capital funding.