March 28, 2024

Report: Chinese blockchain startups raised $ 3.5 billion for 2019

In 2019, the Chinese blockchain sector was245 transactions were concluded, and the total investment amounted to about $ 3.5 billion. This is approximately 50% lower than in 2018, although significantly higher than in 2017. This is evidenced by the data of the report on investments in the blockchain industry last year of the National Information Agency of China "Xinhua" and the investment platform Rhino Data, reports Decrypt.

Traditional venture capitalists faded into the background in 2019, the study says. Most investments in the blockchain sector came from newly formed cryptocurrencies.

It is noted that investments in blockchain projects at an early stage have significantly decreased, and strategic investments have increased, especially in the second half of 2019.

The most popular among investors wereblockchain information platforms, market data platforms, exchanges and DeFi services. However, despite the popularity of decentralized finance in 2019, not a single DeFi startup was able to enter the list of companies that received the largest funding.

The defendants in this list are exchanges (including Bitfinex), mining companies and financial blockchain platforms.

The study also emphasizes that the Chinese blockchain market can wait for further rapid development in connection with the favorable attitude of the PRC authorities to this area.

Recall that in October, President Xi Jinping of China announced that China should become a leader in the field of blockchain.