According to The Block Research, the total amount ever invested in cryptocurrency and blockchain-related companies has exceeded $90 billion.
So far this month, more than 50 deals have helped fund projects, topping $90 billion, according to data from The Block Research, which has been tracking capital flows into the relatively new sector since 2017.
“Observing the current state of venture funding in the blockchain sector, it is clear that although there has not been a significant increase in funding figures, there are encouraging signs,” said John Dantoni, Head of Block Research.
Block Research divides the new funding announcements into distinct categories: web3, infrastructure, DeFi, NFTs/gaming, cryptocurrency financial services, trading and brokerage, data and analytics, and finally enterprise. More than 230 transactions have been reported since the beginning of the year, totaling nearly $1.3 billion, according to data from The Block Research.
Most funds so far in 2024 have been allocated to DeFi, infrastructure, NFTs/gaming, and web3 projects. Venture capitalists and investors participating in the funding round include Animoca Brands, Polychain Capital, Framework Ventures, and Shima Capital. In one of this month’s notable investments, Tether joined Solana co-founder Anatoly Yakovenko in a $25 million Series A investment in cryptocurrency mobile payments company Oobit.
“The increased trading activity in recent months, particularly the notable increase in Pre-Seed/Seed investments and the risk-taking behavior of Asian VCs, coupled with the growing interest in DeFi and DePIN, illustrates where investors can strategically position themselves. .The beginning of a new digital asset cycle,” Dantoni said.
Total investments in cryptocurrency and blockchain-related companies. Image: Block Study.
The number of transactions is stable but the amount is low
Outside of the Oobit deal, most funding announcements involved capital injections of less than $10 million, according to the data. The number of new deals concluded each month has remained relatively stable for several months, even though dollar amounts remain well below the levels of investment seen in 2021 and 2022.
More than 9,500 investments in the industry have been announced since 2017, according to data from The Block Research.
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