“The Future of Cryptocurrency: Trends and Predictions for 2021”

**🌟 Exciting News Alert! Web3 VC Funding Sees a Dip: Crunchbase Data Reveals 76% Drop! 📉**

**🚀 Wow, the funding for Web3 firms from VCs has taken a bit of a dive! In the second quarter of 2023, there was a 76% drop compared to the same period in 2022, according to Crunchbase data.** 💸

**💡 Web3 firms managed to raise a little over $1.8 billion in the Q2 of 2023, a significant difference from the $7.5 billion raised in the same quarter last year.**

**📊 For the first half of 2023, Web3 startups raised $3.3 billion, which is a 78% decrease from the $16 billion raised in the first half of 2022. Only $720 million was raised by ten new crypto VC funds in the second quarter of this year.**

**📈 Crunchbase defines cryptocurrency and blockchain-based startups as part of the Web3 industry, and the data shows that these startups are still feeling the effects of the crypto winter that hit the industry last year, leading to the collapse of several major firms. 😔**

**🌍 The United States led the way, accounting for 45% of all crypto VC funding in Q2 2023, followed by the UK at 7.7%, Singapore at 5.7%, and South Korea at 5.4%.**

**Keep an eye out for more updates and let’s see how the Web3 industry bounces back! 💪** 🌟

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