Earlier this week, research firm CB Insights said that investment in blockchain startups dropped significantly in 2019. However, CB Insights found that enterprise applications were thriving and dominated capital raised in the last quarter. In Q4, Ripple raised the most cash, and yesterday its CEO hinted at an IPO.
Total equity funding in blockchain technology fell over 30% in 2019, while mentions of the technology in financial releases also dropped significantly.
CB Insights said the slip could be attributed to a lack of product and market fit.
Year on year, dollar funding for blockchain initiatives was down 28% in 2019 from 2018’s peak of $4.3 billion. Meanwhile, the deal activity remained flat.
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