Venture Capital Boosts Crypto Startups in Q2

In Q2 2024, crypto startups saw a slight rise in venture capital funding, despite fewer deals, according to Pitchbook.

The total investment increased by 2.5%, while the number of deals fell by 12.5% compared to the previous quarter.

Key funding highlights include Monad, which raised $225 million for its layer-1 platform; BeraChain, securing $100 million for its DeFi protocol; and Babylon, obtaining $70 million for Bitcoin restaking. Notable rounds also featured Farcaster, which raised $150 million, and Zentry, with $140 million.

Although funding is up slightly from Q1, it’s significantly lower than the $25.3 billion and $29.4 billion raised in 2021 and 2022. Total crypto investment in 2023 stands at $10.1 billion, with projections pointing to $10.8 billion by year-end.

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The competitive nature of early-stage funding has intensified, while later-stage investments are less competitive. Since 2014, the blockchain sector has attracted over $102 billion across 5,400 funding rounds.

This update comes after Pantera Capital and Paradigm’s attempts to raise significant funds for new crypto ventures, with Pantera aiming for $1 billion and Paradigm seeking $850 million.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.