The number of unique crypto investors dropped to 651 in the second quarter of 2026, down from a record 2,564 in 2022, marking the lowest level in six years. Only 2020 recorded lower quarterly participation, with 250–450 investors. The decline suggests venture capital activity in the crypto sector is becoming more concentrated among a smaller group of specialized investors. Market participants will watch whether investor participation recovers as funding conditions and market sentiment evolve.
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