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{"id":5384,"date":"2023-09-26T09:27:32","date_gmt":"2023-09-26T09:27:32","guid":{"rendered":"https:\/\/lunu.io\/news\/?p=5384"},"modified":"2023-09-26T09:27:34","modified_gmt":"2023-09-26T09:27:34","slug":"is-the-bear-market-over-crypto-firms-raise-115m","status":"publish","type":"post","link":"https:\/\/lunu.io\/news\/is-the-bear-market-over-crypto-firms-raise-115m\/","title":{"rendered":"Is the Bear Market Over? Crypto Firms Raise $115M!"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">A Week of Prosperous Funding<\/h2>\n\n\n\n<p>Last week, crypto startups witnessed a significant influx of capital, with a collective raise of over $115 million. Leading the pack was blockchain game studio, Proof of Play, which secured a whopping $33 million in a funding round spearheaded by Andreessen Horowitz. This studio has grand plans for its invite-only, on-chain pirate role-playing game, Pirate Nation, aiming to pioneer a decentralized &#8220;Forever Game&#8221; that stands independent of creator interventions or external servers.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Crypto Startups raised $115 million across various verticals last week :<br><br>\u2666\ufe0f Proof of Playan, an on-chain game studio, raised $33 million.<br><br>\u2666\ufe0f Bastion raised $25 million,which is aiming to offer crypto custody, wallet management and digital asset trading mostly to corporations\u2026 <a href=\"https:\/\/t.co\/QnSrz06302\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/QnSrz06302<\/a><\/p>&mdash; Hercules | DeFi (@Hercules_Defi) <a href=\"https:\/\/twitter.com\/Hercules_Defi\/status\/1705961460831289726?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">September 24, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Delving into the Details<\/h2>\n\n\n\n<p>Several other crypto ventures also celebrated substantial funding rounds. Bastion, a crypto firm with a focus on enterprise, bagged $25 million. Founded by two ex-executives from a16z&#8217;s crypto wing, Bastion&#8217;s vision is to seamlessly merge Web3 infrastructure with prevailing enterprise technologies. Meanwhile, Jiritsu garnered $10.2 million to enhance its innovative blockchain solutions, spotlighting its flagship product, Tomei RWA, a novel asset tokenization platform. Fuse Finance and Briya weren&#8217;t far behind, raising $14 million and $11.5 million respectively, for their unique crypto services. CoinScan, too, secured a commendable $6.3 million for its crypto data and analytics platform. Other noteworthy mentions from the past week include Orb, Essential, BeWater, Freatic, GRVT, and Bubblemaps. However, it&#8217;s crucial to note that despite the impressive $277 million raised in September, the general trend for crypto venture funding has been on a downward trajectory since late 2021.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">October, the most feared month of the year with the Bank Panic of 1907, Stock Market Crash of 1929, and Black Monday 1987 all during October<br><br>Economic data<br>Currency crisis<br>Russia \/ Ukraine escalation<br>China economy<br>FSB report proposing global rules on crypto<br>SEC LBRY case decision <a href=\"https:\/\/t.co\/uxK8byrlgy\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/uxK8byrlgy<\/a> <a href=\"https:\/\/t.co\/LYg0TMx9su\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/LYg0TMx9su<\/a><\/p>&mdash; Seq (@CryptoSeq) <a href=\"https:\/\/twitter.com\/CryptoSeq\/status\/1574013609713324034?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">September 25, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">My Take on the Situation<\/h2>\n\n\n\n<p>From my point of view, the crypto market&#8217;s resilience is evident in the face of a bearish phase. While venture firms remain eager to invest in promising crypto startups, this optimism isn&#8217;t mirrored in the broader market. Over the past weekend, the total capitalization dipped by around $10 billion, settling at $1.04 trillion by Monday morning in Asia. Bitcoin&#8217;s value slid to a 12-day low of $26,000, marking a 2% drop, and Ethereum wasn&#8217;t spared either, recording a 1% decline to $1,580. The crypto community on social media platforms seems to be bracing for a turbulent October. However, as I see it, the robust funding activity underscores the enduring faith in the potential of blockchain technology and crypto ventures, even amidst market fluctuations. On the flip side, it&#8217;s essential to approach these numbers with a pinch of caution, as the broader market sentiment remains bearish.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Week of Prosperous Funding Last week, crypto startups witnessed a significant influx of capital, with a collective raise of over $115 million. Leading the pack was blockchain game studio, Proof of Play, which secured a whopping $33 million in a funding round spearheaded by Andreessen Horowitz. This studio has grand plans for its invite-only, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5385,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[53,54],"tags":[],"class_list":["post-5384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-crypto"],"_links":{"self":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/comments?post=5384"}],"version-history":[{"count":1,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5384\/revisions"}],"predecessor-version":[{"id":5399,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/5384\/revisions\/5399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/media\/5385"}],"wp:attachment":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/media?parent=5384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/categories?post=5384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/tags?post=5384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}