The historic total amount invested in crypto and blockchain-related companies has exceeded $90 billion, according to The Block Research.
More than 50 transactions so far this month have helped project financing surpass the $90 billion mark, also according to Block Research datawhich tracks capital flows into this relatively new sector since 2017.
“Observing the current state of venture funding in the blockchain sector, it is evident that while we have not seen a substantial increase in funding numbers, there are encouraging signs,” said John Dantoni , research director of The Block.
The Block Research separates new funding announcements into distinct categories: web3, infrastructure, DeFi, NFT/gaming, crypto financial services, trading and brokerage, data and analytics, and finally, enterprise. Since the start of the year, more than 230 transactions have been reported so far totaling nearly $1.3 billion, according to data from The Block Research.
So far for 2024, the vast majority of funding has been allocated to DeFi, infrastructure, NFT/gaming and web3 projects. Venture capitalists and investors participating in the funding rounds include Animoca Brands, Polychain Capital, Framework Ventures and Shima Capital. In one of this month’s highest-profile investments, Tether, alongside Solana co-founder Anatoly Yakovenko, participated in a $25 million Series A investment in crypto mobile payments company Oobit .
“The increase in transaction activity over the past few months, particularly visible in pre-seed/seed investments and risk-taking behavior displayed by Asian VC firms, coupled with the growing interest in DeFi and DePIN, profiles investors strategically positioning themselves for what could be. the start of a new digital asset cycle,” Dantoni also said.
Total investment in crypto and blockchain related companies. Image: Block research.
Stable number of transactions but lower amounts
Outside of the Oobit deal, most funding announcements were for capital injections of less than $10 million, the data showed. The number of new deals closed each month has remained relatively stable for several months, although the dollar amounts are considerably lower than the investment levels seen in 2021 and 2022.
Since 2017, more than 9,500 industry investments have been announced, according to data from The Block Research.
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