VCs Made Billions of Dollars From These Small Altcoins: Data

1. Venture capital firms made huge profits from smaller-known altcoins, not from BTC or ETH.
2. Best-performing altcoins in their portfolio include Lido Dao (LDO) and Polygon (MATIC).
3. Ironically, Andreessen Horowitz did not have a stellar portfolio with Uniswap (UNI) and Maker (MKR).

Despite looks, venture capital firms actually made billions of dollars of profit from crypto. However, these are not from leading coins such as Bitcoin (BTC) and Ethereum (ETH). Instead, they are from smaller altcoins, some of which are lesser known.

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According to on-chain data provided by Defi Mochi, some VC firms even made 1,000-percent gains from these altcoins.

Dragonfly Capital made a profit by buying Lido DAO (LDO) early on, contributing to its 39% portfolio increase last month. In fact, this token alone comprises almost half of Dragonfly’s total crypto portfolio.

Succeeding tweets also mentioned Wintermute, which holds a significant amount of LDO alongside other well-known tokens like Polygon (MATIC) and GALA. Given that MATIC has become the 8th largest crypto by market cap at almost $13.4 billion, Wintermute’s portfolio is expected to increase further.

Ironically, Silicon Valley legend Andreessen Horowitz (a16z) lost its bet in decentralized finance (DeFi) tokens Uniswap (UNI) and Maker (MKR). Currently, these tokens are not performing as a16z hoped them to.

Jump Crypto made remarkably well with its investment in LDO, MATIC, Hashflow (HFT).

By and large, the most noteworthy tokens being held by venture capitals are LDO and MATIC. At the time of writing, MATIC is changing hands at $1.49, which is a 7-day gain of 21.1%. Meanwhile, each LDO is worth $3.21, a 7-day jump of 39.7%, according to CoinGecko.

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