The top ten Web3 projects in 2023 raised a total of US$1.78 billion, a year-on-year decrease of 70%

According to research conducted by Binance, a total of $1.78 billion was raised by the top ten Web3 projects in 2023, representing a significant decrease in venture capital investment compared to the $5.87 billion raised in 2022, a 70% decrease.Most of the major funding occurred in the second half of the year, with 6 out of the top 10 largest funding rounds taking place during this period. Among them, Bitcoin mining service provider Phoenix Group and non-custodial payment infrastructure company Ramp led the way with funding rounds of $370 million and $300 million, respectively.The research results show that Web3 projects attracted a total of $9 billion in investment, with infrastructure projects accounting for 36.5%, while centralized finance (cefi) and decentralized finance (defi) platforms accounted for 13.3% and 8.6%, respectively. Decentralized autonomous organizations (DAOs) received the least capital investment, accounting for only 0.47% of the total.

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