Big Companies Pour Their Money Not BTC: These Altcoins!


This year has not been very good for the cryptocurrency markets. Bitcoin (BTC) has dropped as much as 70 percent from its all-time highs. It recorded a 60 percent loss on an annual basis. It was the same with altcoins. However, these projects still managed to receive investment from big names. In this article, we will talk about the crypto money projects that have collected the biggest funds. Here are the details…

BTC and altcoins fell: Capitals still flowed into the space

This year, the largest amounts of investment were made in NEAR and Mysten Labs. This investment mostly came from names such as FTX and Alameda. As we reported, FTX and Alameda Research filed for bankruptcy protection in early November. But before that, both companies were participating in most fundraising rounds in the field. Thus, many crypto money projects have traces of their investment. However, following the latest development of bankruptcy, some of the companies they had funded were also in trouble.

On the other hand, NFT-oriented projects attracted attention. The most popular among them were OpenSea and Yuga Labs. As it is known, OpenSea is known as the most popular NFT marketplace. Daily trading volume surpasses most other NFT marketplaces. This platform managed to raise $300 million from the investors in 2022.

Yuga Labs is the company behind Bored Apes Yatch Club (BAYC), one of the largest NFT collections. Outside of BAYC, it is behind Mutant Ape Yatch Club and CryptoPunks. Yuga Labs also played a big role in the launch of ApeCoin (APE) this year. He also drew attention with a metaverse project called Otherside. In total, Yuga Labs managed to raise $450 million.

Most investments came from these companies.

On the other hand, apart from FTX and Alameda Research, there are many companies that are transferring money to the market. Chief among them is a16z. Next comes Galaxy Digital. Animoca Brands, which made a big splash in the metaverse area, supported NFT and GameFi projects. The investment arms of Binance and Coinbase, which are among the largest cryptocurrency exchanges in the market, were also among the most invested.


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