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Wu learned that according to data platform CryptoRank, in the second quarter of 2026, the number of globally active unique cryptocurrency investors dropped to 651, far below the all-time high (ATH) of 2,564 in 2022. This figure is only higher than the same period in 2020 (when quarterly participants ranged between 250 and 450), hitting a new low in nearly six years. Analysis indicates that this trend suggests venture capital in the cryptocurrency space is increasingly concentrating among a small group of professional investors, while overall market participation remains far below the peak levels of the previous cycle.