CB Insights’ research found that blockchain startups saw impressive growth last year. Venture capital funding increased in every quarter through 2021. According to CB Insights’ “Blockchain State of 2021” report, $25.2 billion worth of venture capital funding went to global blockchain startups last year, demonstrating a 713% increase from $3.1 billion in 2020.

According to the report, the United States accounted for the largest number of funding transactions in the fourth quarter of 2017, generating $6.26 Billion through 157 deals. Global growth is attributed to increasing demand from institutional and consumer consumers for cryptocurrency-related products.