Venture capital financing for cryptocurrencies has exceeded $1 billion for the second consecutive month, reaching a total of $1.02 billion in April, distributed across 161 investment rounds. This marks a slight decrease from March, when $1.09 billion was reported from 186 rounds.
The last time the sector witnessed two consecutive months of funding surpassing $1 billion was in October-November 2022. Notable investments include a $47 million investment in Securitize, a company specializing in tokenizing real-world assets, led by BlackRock. Monad, a new layer-1 blockchain supported by Paradigm and Coinbase Ventures, received a massive $225 million investment.
Other beneficiaries of funding include the developers behind Berachain, a layer-1 blockchain built on Cosmos, and Auradine, a blockchain infrastructure firm, both receiving $100 million. The top two categories for venture capital financing in 2024 were blockchain infrastructure startups, with a total of $1.7 billion, and decentralized finance protocols, with $626 million.
Decentralized autonomous organizations (DAOs) were the least-funded group in 2024, having received only $3 million so far. However, the sector as a whole is on track to exceed the $9.3 billion received in 2023, with 604 fundraising rounds accumulating over $3.67 billion.
Since June 2014, the blockchain sector has attracted over $100 billion in investment across 5,195 funding rounds, according to DeFiLlama. Pantera Capital and Paradigm, two prominent venture capital firms, are currently seeking $1 billion and $850 million, respectively, for new crypto funds.
If Pantera Capital’s $1 billion funding round is successful, it will be the largest in the cryptocurrency sector since May 2022, when Silicon Valley-based venture capital company Andreessen Horowitz (a16z) raised a record-breaking $4.5 billion.
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