“Cryptocurrency values experience grounding in 2023, with VC anticipation of resurgence in 2024”
Crypto valuations ‘came back to earth’ in 2023, but VCs expect them to rise again in 2024The past couple of years have proved to be a turbulent time for the crypto industry.
But a recent spike of interest in crypto, driven by rising Bitcoin and Ethereum prices, is rebuilding momentum, and many think that next year could be promising for crypto startups’ valuations.
Fundraising was difficult for both startups and venture capitalists in 2023, according to Lydia Chiu, VP of business development at Ava Labs.
In 2022, the crypto venture capital deck “saw a complete reshuffling,” with “many tourist VCs in retreat and their weaker portfolio investments bleeding out,” he added.
“Anyone should’ve expected venture funding to dry up in 2023, and it did,” said Will Nuelle, general partner at Galaxy Ventures.
