Blockchain startups raised an aggregate of billions of dollars through the bull market, but it’s no secret those days are at least temporarily halted. For most DeFi protocols and almost every NFT project, this is the 1st bear market these companies must conquer.
As evidenced by the 2018 cryptocurrency bear market, very few projects survive through the bear. Liquidations were rife and insolvencies plagued the market. It’s often the projects with their heads down building that make it out alive.
