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“The fundraising flow from investors to blockchain startups got escalated after bitcoin broke its previous all-time high of $20,000 in December 2020. It was the manifestation of the upcoming bull cycle in the market which global investors didn’t want to miss out,” said Siddhartha Jain, co-founder of DefiDollar, a meta stablecoin index. The surge in the prices of cryptocurrencies escalated the adoption pace in India. Meanwhile, the capital flow by foreign funds also increased which helped startups in building projects.
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