- Crypto startups pulled just over $18 million from venture capitalists this week.
- But fundamentals are better than ever, VCs say.
Things are looking brutal.
The $2 trillion crypto industry wipeout has decimated market sentiment. Bitcoin is down 47% from its October peak — with market watchers expecting more pain to come.
Other top crypto assets have fallen even more, with Ethereum trading at a 60% discount and Solana 73%.
Indeed, crypto startups raised just $18.5 million this week, DefiLlama data shows.
That’s the worst week since the New Year holiday break and one of the leanest periods over the past two years.
Yet the massacre is not changing frontier investors’ minds about the fledgling industry, venture capitalists say.
“The…
