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Crypto Venture Capital Funding Sees Second Consecutive Month of $1B+

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Crypto Venture Capital Funding Sees Second Consecutive Month of $1B+

  • This is a little decrease from March, when $1.09 billion was reported from 186 rounds.
  • The least-funded group in 2024 was decentralized autonomous organizations.

For the second month in a row, venture capital financing for cryptocurrencies has exceeded $1 billion. According to RootData, the total financing for April amounted to $1.02 billion, spread over 161 investment rounds. This is a little decrease from March, when $1.09 billion was reported from 186 rounds.

Two consecutive months of funding topping $1 billion have not been seen in the sector since October–November 2022. Securitize, a company that tokenizes real-world assets, received a $47 million investment led by BlackRock. Monad, a new layer-1 blockchain supported by Paradigm and Coinbase Ventures, received a colossal $225 million investment.

Substantial Progressive Increase

Also receiving money were the developers behind layer-1 blockchain Berachain, which is built on Cosmos, and blockchain infrastructure firm Auradine, which got $100 million. The top two categories for venture capital financing in 2024 were blockchain infrastructure startups ($1.7 billion) and decentralized finance protocols ($626 million).

The least-funded group in 2024 was decentralized autonomous organizations (DAOs), which had received only $3 million so far. With 604 fundraising rounds totaling over $3.67 billion in 2024, the sector is well on its way to surpassing the $9.3 billion received in 2023.

Since June 2014, more than 100 billion dollars have been invested in the blockchain sector in 5,195 funding rounds, as reported by DeFiLlama. Pantera Capital and Paradigm, two venture capital companies, are now seeking $1 billion and $850 million, respectively, for new crypto funds.

Pantera Capital’s $1 billion funding round would rank as the biggest for the cryptocurrency sector since May 2022, when the record-breaking $4.5 billion was raised by Silicon Valley-based venture capital company Andreessen Horowitz (a16z).

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