China’s investment in blockchain in 2019 decreased by 40%
Xinhua, the state-owned Chinese publication, conducted a study according to which last year, investment in blockchain in the country was reduced by 40%. The report says that if in 2018 in China 604 transactions were concluded to invest and finance blockchain companies, then in 2019 their number dropped to 245. Funding volumes also decreased from about $ 6 billion to $ 3.6 billion.
However, even despite a decrease compared to 2018, investment volumes increased significantly relative to 2017 results. According to the report, almost half of the investment volume (43.3%) of blockchain companies is received at the initial stage of fundraising – during the round of financing series A.
At the same time, the volume of strategic investments, mergers and acquisitions in the second half of 2019 increased. Blockchain financing was attended by 292 institutional investors. The most popular cities for starting a blockchain business are Beijing, Shenzhen and Hangzhou.
Recommended Related Articles:
- What’s New in Crypto – Crypto News
- Only 8% of Ethereum addresses are “profitable”
- Only 8% of Ethereum addresses are Uber signed blockchain launch agreement
- Zcash price analysis: where does ZEC / BTC make the bottom?
- Bitcoin exchange rate again rose above $ 8000 thanks to investors
- German central bank believes Bitcoin does not threaten financial stability