- Ethereum-focused startups from 2022 were more successful than Solana-based projects.
- Entrepreneurs who chased popular narratives like web3 gaming ended up paying for it.
- VCs are expected to pour $12 billion into crypto startups in 2024.
In the contest to build DeFi projects, Etherem-based startups have the edge on their Solana counterparts.
About a fifth of Ethereum projects closed down over the last two years, according to a report from Lattice, a venture capital fund. That’s better than the 26% of Solana projects that foundered.
The researchers looked at blockchains with at least 15 crypto startups that raised funds during 2022.
BNB Chain-based projects were the least likely to remain active, with one-third of teams ceasing operations.
Speculative capital
Lattice said an influx of speculative capital during the bull market drove projects to over-extend themselves.
Many of those projects blamed the brutal market decline caused by events…
