Blockchain Investment Hits $90 Billion Milestone
The cumulative investment in companies associated with crypto and blockchain has now exceeded $90 billion, as reported by The Block Research.
The funding landscape has been vibrant this month, with over 50 deals contributing to crossing the $90 billion milestone, a trend meticulously tracked by The Block Research since 2017.
John Dantoni, Director of The Block Research, remarked, “Upon examining the current state of venture funding within the blockchain sector, it becomes apparent that although there hasn’t been a significant surge in funding figures, there are promising indicators.”
The funding announcements are categorized into various segments by The Block Research, including web3, infrastructure, DeFi, NFTs/gaming, crypto financial services, trading and brokerage, data and analytics, and enterprise. As of this year’s commencement, over 230 deals have been disclosed, totaling nearly $1.3 billion.
Throughout 2024, the lion’s share of funding has been directed towards DeFi, infrastructure, NFTs/gaming, and web3 projects. Notable participants in these funding rounds include Animoca Brands, Polychain Capital, Framework Ventures, and Shima Capital. In a recent high-profile investment this month, Tether and Solana co-founder Anatoly Yakovenko jointly invested in a $25-million Series A round for Oobit, a crypto mobile payment company.
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Dantoni also noted, “The heightened deal activity in recent months, particularly evident in Pre-Seed/Seed investments, and the risk-on approach adopted by Asian VCs, alongside the increasing interest in DeFi & DePIN, suggest that investors are strategically positioning themselves for what could potentially mark the beginning of a new digital asset cycle.”
Despite the consistency in the number of new deals struck monthly, the capital injections, aside from the Oobit deal, have mostly fallen below the $10 million mark, according to the data. Although the number of deals has been steady for several months, the dollar amounts have notably decreased compared to the levels witnessed in 2021 and 2022.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
