THE VC ACTIVITY CHART SHOWS US WHICH STAGE OF THE CYCLE WE ARE IN?

Venture capital in crypto is starting to come back, but the number of deals is still low.

This means that money hasn't disappeared. It's just being more cautious.

Funds are no longer rushing into every token or trend like in the previous cycle. They are writing fewer "checks", taking more time, and investing genuinely in teams they believe can survive in the coming years.

Typically, this happens after the excess has disappeared — not at the peak, not when the market is euphoric. This is the market state when builders are still persistent, and the flow of capital becomes patient.

Most people still assess the market based on prices.

But VCs are clearly focused on who is building, who will survive, and who deserves support before the crowd realizes.

#TRADOOR #TA