Crypto VC investments rise 26% YoY amid market fluctuations in 2024

Crypto venture capital investments grew 26.1% in 2024 compared to the previous year, with 1,535 projects publicly disclosed, according to a report by Wu Blockchain citing RootData statistics.

The report highlighted a total of 102 publicly disclosed crypto VC investment projects in December, reflecting a 7.4% month-on-month (MoM) increase from 95 projects in November. However, this marked a 6.4% year-on-year (YoY) decrease compared to 109 projects in December 2023.

Total funding for December reached $740 million, a 60.9% MoM increase from $460 million in November but an 18.7% YoY decline from $910 million in December 2023.

For the full year, disclosed funding amounted to $9.33 billion — slightly surpassing 2023’s $9.28 billion by 0.5%.

Sector breakdown

Sector-wise, DeFi led with 24.4% of total projects, followed by NFT/GameFi at 15.1%, Layer 1 and Layer 2 solutions at 11%, and artificial intelligence (AI) projects at 9.6%.

Centralized finance (CeFi) made up 5.7%, with real-world assets (RWA) and decentralized physical infrastructure (DePIN) projects accounting for 8.8%. Tools and wallet infrastructure represented 7.3% of the total.

Among the largest funding rounds of 2024, Stripe’s $1.1 billion acquisition of Bridge in October stood out as the largest in the crypto industry.

Australian crypto mining firm Iris Energy raised $413.4 million through stock issuance during the first half of the year, while Avalanche secured $250 million in December through a token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital.

Other deals

Monad Labs raised $225 million in April to develop an Ethereum Virtual Machine-compatible Layer 1 blockchain, and Blockstream secured $210 million in October to expand its Layer 2 technologies.

Meanwhile, Robinhood announced plans to acquire crypto exchange Bitstamp for $200 million, with completion expected in the first half of 2025.

Other notable deals included Bitfarms’ $175 million acquisition of Stronghold Digital, CleanSpark’s $155 million merger with GRIID Infrastructure, and Hut 8’s $150 million strategic investment to develop AI infrastructure.

Additionally, the decentralized social protocol Farcaster raised $150 million in May, pushing its valuation to $1 billion.

The post Crypto VC investments rise 26% YoY amid market fluctuations in 2024 appeared first on CryptoSlate.

  • Related Posts

    Trump-backed DeFi project WLFI closes raise surpassing goal reaching $590 million

    President Donald Trump’s family DeFi project, World Liberty Financial (WLFI), has officially concluded its WLFI token sale, which raised approximately $590 million, according to details shared on its website. According…

    Continue reading
    Russian oil firms use Bitcoin, Ethereum, USDT for cross-border payments with China and India

    Russia has started using crypto for oil trades with China and India as it seeks to bypass Western sanctions, Reuters reported on March 14, citing sources familiar with the matter.…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Trump-backed DeFi project WLFI closes raise surpassing goal reaching $590 million

    Trump-backed DeFi project WLFI closes raise surpassing goal reaching $590 million

    Russian oil firms use Bitcoin, Ethereum, USDT for cross-border payments with China and India

    Russian oil firms use Bitcoin, Ethereum, USDT for cross-border payments with China and India

    Vermont withdraws action against Coinbase, awaits SEC’s regulatory clarity

    Vermont withdraws action against Coinbase, awaits SEC’s regulatory clarity

    BlackRock’s BUIDL fund breaks $1 billion in tokenized RWAs, up 56% in a month

    BlackRock’s BUIDL fund breaks $1 billion in tokenized RWAs, up 56% in a month

    Deep liquidity cushioned Bitcoin’s price during March volatility

    Deep liquidity cushioned Bitcoin’s price during March volatility

    Bolivia turns to crypto for fuel trade amid US dollar shortage

    Bolivia turns to crypto for fuel trade amid US dollar shortage