Tiger Research: Bitcoin Rose 43% in Q3 but Venture Funding Recovery Stays Weak
- —Bitcoin gained 43% in Q3, its strongest third quarter since 2017
- —US spot bitcoin ETFs recorded $6.34 billion in net inflows
- —M&A deal counts held at 36–39 per quarter, but deal value fell 83%
- —Seed rounds dropped to 15% of deals, the lowest since 2024, while Series A–C funding rose 29% monthly
Why it matters: The market is shifting from betting on price gains to valuing real revenue and licenses, concentrating capital in payments and tokenization infrastructure.
Source: TokenPost
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