# Market data

`kaal:entity:market-data`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `market-data`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

4 claims across 3 works, 2019 to 2021.

**2019**

- [3409548-032](https://wulfkaal.github.io/claims/3409548-032) [empirical/evidenced] -- ICO funding collapsed as a share of blockchain startup fundraising, falling from 80% to around 35% by August 2018, recovering only marginally to 40% to 50% between September 2018 and February 2019, and dropping to 20% in March 2019.
  > The percentage of ICOs in relation to total fundraising of blockchain startups dropped from 80% to around 35% in August 2018 and only marginally recovered between September 2018 and February 2019 at around 40% to 50% before dropping to 20% in March 2019.
  Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548

**2020**

- [3606663-008](https://wulfkaal.github.io/claims/3606663-008) [empirical/evidenced] -- ICO issuance exceeded venture capital financing of startups for the first time in the second quarter of 2017, with $210 million invested through ICOs against $180 million invested through traditional venture capital funds.
  > In the second quarter of 2017, ICO issuances exceeded venture capital financing of start-ups for the first time,56 with $210 million invested in ICOs versus $180 million invested into start-ups via traditional venture capital funds.
  Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663
- [3606663-025](https://wulfkaal.github.io/claims/3606663-025) [empirical/evidenced] -- The DeFi lending market is highly concentrated: MakerDAO alone accounts for almost ninety percent of the total USD value locked in DeFi projects.
  > MakerDAO accounts for almost ninety percent of total USD value locked in DeFi projects.
  Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663

**2021**

- [3808852-022](https://wulfkaal.github.io/claims/3808852-022) [empirical/evidenced] -- The ICO share of blockchain startup fundraising collapsed from 80 percent to around 35 percent by August 2018, recovered only marginally to 40 to 50 percent between September 2018 and February 2019, and then fell to 20 percent in March 2019.
  > The percentage of ICOs in relation to total fundraising of blockchain startups dropped from 80% to around 35% in August 2018 and only marginally recovered between September 2018 and February 2019 at around 40% to 50% before dropping to 20% in March 2019.
  Wulf A. Kaal, Decentralization and Feedback Effects (2021). SSRN: https://ssrn.com/abstract=3808852

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/market-data.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.