Ever since the beginning of the year 2021, the cryptocurrency industry has gained so much adoption and investments. There were many analysts who had predicted a bright future for cryptocurrencies towards the end of the year 2020.
The analysts had predicted that the cryptocurrency industry would gain double the amount of investments and growth in the year 2021, but it seems that their predictions were wrong.
According to the recent reports, it is now clear that the industry will not just stay at double the increase compared to 2020 but will exceed it by a huge figure.
As per the latest report, the cryptocurrency industry has gained more funding than it did in the entire year of 2020 in the first quarter of 2021. This means that at least, the industry will go onto achieve five times more funding than the year 2020.
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There have been several companies and startups introduced by the beginning of the year 2021. The stats reveal that around 129 startups in the crypto-blockchain sector have managed to receive a total of $2.6 billion in the form of funding.
The on-chain data analyzing firm that has compiled and presented the above-mentioned information is CB Insights. CB Insights is one of the top business analytics firms that is famously known for gathering authentic data related to cryptocurrencies and blockchains.
The firm has revealed that in the overall year of 2020, the cryptocurrency and blockchain firms from the entire industry were only able to generate $2.3 billion in funding.
CB Insights has predicted that the year 2021 would be the first year that will be able to break the all-time high record that was set in 2018. Until 2021, the year that had brought the most amount of funding for the crypto-blockchain industry was 2018. The firm has revealed that in the year 2018, the funding that the crypto-blockchain industry achieved was $3.3 billion.
The firm has revealed that in the year 2021, the increased amount of funding came from several big funding rounds that were led by prominent companies from around the world.
Some of the major companies include Blockchain.com, which is a cryptocurrency wallet provider from United Kingdom, Dapper Labs, which is game maker on blockchain networks from Canada.
Then there is BlockFi, which is a cryptocurrency lending startup from the United States of America.
Just these three firms reportedly managed to generate a total of $1.1 billion through funding rounds in the running year. From the fund rounds, BlockFi alone managed to generate a total of $350 million for the further development of its platform in March 2021.
Then there is Dapper Labs that managed to generate a total of $305 million through the funding rounds from the investors in the beginning of the year 2021.
