Encrypted financing faces a cold spell, here are 4 bear market high-value financing projects worth paying attention to:
4 high-value financing projects in bear market worth attention despite cold spell in encrypted financing.
Affected by the decline in BTC prices, the number and amount of cryptocurrency financing in May are both declining. Cryptocurrency KOL Ignas listed four projects that received large financing during the bear market, namely: zkLink, Dolomite, Asymmetry Finance, and Hourglass.
There were 120 cryptocurrency financings worth 1.2 billion USD in May, which is lower than the 130 deals in the previous month. DeFi is the smallest fundraising category, with only 20 DeFi projects successfully raising funds in May, accounting for only 59 million USD. The amount of financing is correlated with BTC prices, and when market sentiment/price rises, VC financing amounts will rebound.
4 potential projects that received financing during the bear market:
– zkLink is building a zk-SNARKS-based multi-chain transaction layer for DeFi and NFTs, connecting various L1 and L2 to a Zk-Rollup middleware to aggregate assets and liquidity. zkLink raised 10 million USD from Coinbase, Ascensive Assets, Big Brain Holdings, and other venture capitalists.
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– Dolomite is the next-generation currency market and margin trading market on Arbitrum. Currently, its TVL is 5 million USD and it does not have a token yet. Dolomite raised 2.5 million USD from Coinbase, NGC Ventures, and other venture capitalists.
– Asymmetry Finance aims to solve the centralization problem in the ETH market. safETH is composed of multiple LSTs, which disperses risks of holding a single LST. Asymmetry raised 3 million USD with a valuation of 20 million USD from Ecco, Republic Capital, and Ankr.
– Hourglass launched a market for time trading, with the key innovation being the Time-Bound Token (TBT). Hourglass raised 4.2 million USD from Electric Capital, Coinbase, Circle, and other venture capitalists.