Crypto Industry Struggles Despite Bitcoin’s Resilience

The crypto industry, led by the flagship cryptocurrency Bitcoin (BTC), is going through a highly uncertain period and is striving to stay afloat despite the bad news. Although there have been many negative developments in 2023, the fact that the industry still holds a significant position promises a bright future. The fact that Bitcoin, especially the leading cryptocurrency, managed to stay above $30,000 is an important signal. However, funding rates do not indicate the same for BTC and other cryptocurrencies. Crypto Industry Hits a Funding Drought One of the most negative news of 2023 has been the funding situation. According to DeFiLlama, funding for crypto companies in the first half of 2023 remained at $3.7 billion. This is less than a quarter of the funding amount during the same period in 2022. The significant decrease in funding is not surprising considering the period when Gary Gensler and other US regulators […] The post Crypto Industry Struggles Despite Bitcoin’s Resilience appeared first on COINTURK NEWS.