Key Takeaways:
- Venture capital funding in the cryptocurrency sector surpassed $1 billion for two consecutive months, with April seeing $1.02 billion across 161 rounds and March $1.09 billion across 186 rounds.
- Significant investments included $225 million in new blockchain platform Monad, termed a “Solana killer,” and $47 million in Securitize by BlackRock for tokenizing real-world assets.
- The year 2024 has already seen over $3.67 billion raised through 604 funding rounds, with blockchain infrastructure companies leading with $1.7 billion, though DAOs lag significantly with only $3 million.
For the first time since late 2022, the cryptocurrency venture capital funding has once again topped $1 billion for two consecutive months.
In April, the industry witnessed $1.02 billion in investments distributed across 161 funding rounds.
CRYPTO VENTURE CAPITAL FUNDING SOARS PAST $1B FOR SECOND MONTH STRAIGHT: WHO ARE AT THE TOP?
— BSCN (@BSCNews) May 6, 2024
– In April, the crypto venture capital scene continued its impressive streak, surpassing the $1 billion mark for the second consecutive month.
– RootData's latest report reveals that a… https://t.co/vuO7VZzVhJ pic.twitter.com/4rb2JdLwk9
This followed a slightly higher amount of $1.09 billion raised in March through 186 rounds, as reported by RootData.
April’s key investments include a notable $47 million round led by BlackRock into Securitize, a firm that focuses on tokenizing real-world assets.
Additionally, a significant $225 million was invested into Monad, a new blockchain platform that is gaining attention as a potential “Solana killer.”
Monad Labs is excited to announce a $225M fundraise, led by @paradigm pic.twitter.com/cRchQd506k
— Monad ⨀ (@monad_xyz) April 9, 2024
This project has garnered support from major entities like Paradigm and Coinbase Ventures.
Other significant funding events include the blockchain infrastructure startup Auradine and the Cosmos-based blockchain Berachain, which secured $80 million and $100 million respectively.
2024 has seen blockchain infrastructure companies receiving the most venture capital, totaling $1.7 billion. Decentralized finance (DeFi) protocols followed, raising $626 million.
However, decentralized autonomous organizations (DAOs) received minimal funding, totaling only $3 million this year.
Overall, the industry has raised over $3.67 billion across 604 funding rounds in 2024, setting a pace that might surpass the $9.3 billion amassed in 2023.
Since June 2014, the blockchain sector has attracted more than $100 billion through 5,195 funding rounds, according to DeFiLlama.
As the year progresses, prominent VC firms like Pantera Capital and Paradigm are reportedly seeking substantial new funds targeted at the cryptocurrency sector, aiming for $1 billion and $850 million respectively.
Notably, Pantera Capital’s planned $1 billion fund would be the largest in the crypto industry since Andreessen Horowitz’s record-setting $4.5 billion fund in May 2022.
Interestingly, despite their broad investment portfolio that includes AI and gaming, Andreessen Horowitz has decided not to increase their crypto-focused fund this year.
🚀 For the second month in a row, crypto venture capital funding has exceeded the $1 billion mark, highlighting continued investor interest.#Crypto #Fundinghttps://t.co/0oBCCFKmbn
— Cryptonews.com (@cryptonews) May 6, 2024
This ongoing investment surge reflects sustained confidence in the potential of blockchain technology and its myriad applications, despite the volatile nature of the market.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
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