Enterprise Blockchain, Bitcoin Staking, and Web3 Capture Investors’ Interest

The recent rise in global interest rates may have dampened investors’ enthusiasm for cryptocurrency projects, yet new initiatives continue to emerge and secure crucial funding for growth. Data indicates that venture capital investments experienced a significant decline in June, dropping by 29.73% with a total of $779.32 million raised across 62 deals, compared to June of the previous year. Nonetheless, the overall trend for 2023 reveals an increase in venture capital activity. The latest summary showcases several projects thriving in this challenging and competitive landscape.

Orbital Secures $6.4 Million to Enhance Blockchain Services

The enterprise cryptocurrency platform Orbital has successfully raised $6.4 million in a funding round led by Golden Record Ventures. Other participating investors include New Form Capital, GSRV, and Luminous Futures. The funding will facilitate the growth of Orbital’s product development, focusing specifically on blockchain payment solutions for traditional businesses. The platform enables these businesses to accept cryptocurrency payments from customers and convert them into fiat currencies such as the U.S. dollar, euro, and British pound. Orbital claims to handle approximately $250 million in transaction volume each month for its clients.

Notable Funding Developments:

• unshETH: This decentralized finance protocol has raised $3.3 million in a seed funding round.
• ZTX: A Web3 creator platform that has attracted $13 million in funding.
• Stroom Network: This initiative aims to streamline staking and has successfully raised $3.5 million.
• Fxhash: A Web3 art platform that recently closed a $5 million funding round.

This investment activity reflects a resilient crypto market, as businesses continue to innovate and adapt despite challenges.