9M
...
A new wave of enthusiasm sweeps the crypto industry as venture capital investments spike in the first quarter of 2024, reveals a Crypto Koryo survey. Bucking a two-year downturn, investments hit nearly $2 billion, up 38% from the last quarter of 2023, and backed 250 crypto projects, a 49% jump. This resurgence, the most vigorous since the $14 billion peak in late 2021, hints at the dawn of an upturn after a slump triggered by high-profile crypto crises.
The landscape saw diverse funding interests, with major players like a16z and OKX Ventures leading the charge. Notable fundraisers included Hashkey and EigenLayer, each securing $100 million. Ethereum emerged as the favored platform, hosting over 50 VC-funded projects, while Solana gained traction from meme coin offerings. This period marks a significant recovery, particularly when contrasted with the modest 2.5% funding increase and a slight drop in deal volumes reported by Pitchbook for Q4 2023, signaling a potential rebound in the crypto venture capital scene.
