The focus on Bitcoin has affected many other areas of cryptocurrency positively – but also negatively. Among the latter is the field of blockchain, which has been a booming one and a hot topic in our latest cryptocurrency news. However, a new report suggests that blockchain investments could drop by as much as 60% this year alone as the attention continues to focus on Bitcoin (BTC).
The new data has been carried out by one fintech research bureau, CB Insights, and was featured on Bloomberg on July 18. As it mentioned, companies in the blockchain space are drawing in a lot less support this year.
The report shows that blockchain investments and deals have netted the space $784 million in funding so far. If that momentum continues, by December the figure will be $1.6 billion in total. By contrast, in 2018, companies received $4.1 billion which means that this year’s number may represent a 61% reduction.
The CEO of CB Insights was featured in the altcoin news for stating that ““It took a little bit for the enthusiasm to wear off,” pointing out to the hype around Bitcoin and how it affected the blockchain investments market.
The data also showed that for the five years to July this year, 40% of the blockchain investments focused on the United States, whereas China was the second biggest single country with 15% of the total.
Another aspect, which was highlighted by many best cryptocurrency news sites and Reuters, showed that even projects which had gained funding, had less than optimal success rates. As it showed, out of 33 projects, only 12 had made significant progress. Overall, these are “bad signs for the blockchain but not the Bitcoin crowd” according to the NY Times reporter named Nathaniel Popper who wrote the piece.
As per the report featured on Bloomberg, the number of blockchain investments is declining but the largest cryptocurrency has done all but regained its losses from the 2018 bear market, while the analysts remain split about its next move.
Since it reached a high of $13,800 last month, the BTC/USD pair then fell to almost $9,000 and is currently recovering to challenge $10,000 at press time. The market is stable but lost a lot over the past couple of weeks.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
DC Forecasts - Newsletter and get recent news directly to your inbox! Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
DC Forecasts provides a comprehensive source of the latest news about cryptocurrency news daily. Read more on our about us page for details.