Several VC-backed crypto projects now trade at market capitalizations well below the valuations assigned during their last private funding rounds.
Several blockchain startups once valued near $1 billion now have market capitalizations that are only a fraction of those figures, as tighter liquidity forces valuation resets.
This is evident across several high profile projects, according to data compiled by CryptoRank.
Humanity Protocol, which carried a venture valuation of around $1 billion, now has a market capitalization of about $285 million. Fuel Network, also previously valued near $1 billion, is trading closer to $11 million, while Bubblemaps, once assigned a similar venture capital (VC) valuation, has a market cap of about $6 million.
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