A recent report from The Block Research has it that global blockchain venture funding plunged in the second quarter of this year.
Global blockçhain venture funding declined 22% from $12.5 billion raised in the first quarter to $9.8 billion in the second.
Meanwhile the amount raised by blockchain venture startups is up 25% in Europe compared to the previous quarter, according to The Block Research’s data.
Africa is the only other region to see gains, with an increase of 189% from the first quarter to the second.
Asia and the US saw declines of 43.4% and 23.8%, respectively.
Europe’s recent gains mean it surpassed Asia by a slim margin for second position in terms of global share of blockchain venture funding raised.
The US remained in the top spot with a total of $5.4 billion raised, compared to Europe’s $1.8 billion.
The recent turmoil in crypto markets, however, has also spurred mergers and acquisitions, which is another bright spot in the second quarter data.
