Because the finish of Could 2014, greater than $100 billion has been raised for cryptocurrency startups.
Trying again, there have been ups and downs amid regulatory uncertainty and market volatility. However previously 4 years, the ceiling and the ground have risen, regardless of steady peaks and troughs.
Information obtained from TVL aggregator DefiLlama exhibits that as of June 16, 2024, the full funding of the cryptocurrency business was $101.35 billion. Again in Could 2014, simply 5 years after Bitcoin’s creation (and one other yr after Ethereum’s launch), the cryptocurrency’s first month of funding was a relatively paltry $17.14 million.
Quick-forward 10 years to Could 2024, and business funding reached $280.25 million for the month — effectively above a decade in the past, however effectively beneath the earlier month’s $777.11 million.
Funding for cryptocurrency startups reached its zenith in October 2021, when greater than $7 billion was raised. No different month comes shut, as February 2022’s $3.67 billion was the second highest ever.
Analysis as lately as 2023 exhibits that almost half of all cryptocurrency funding comes from buyers in america. The remainder is break up between quite a few nations, with the UK (7.7%) and Singapore (5.7%) taking second and third place, in keeping with Q2 2023 knowledge.
As Cointelegraph lately reported, a collection of high-profile funding offers befell between the tip of 2023 and the primary half of 2024.
Collectively.AI and cross-chain protocol Wormhole each raised $225 million in late 2023 funding, whereas open-source cloud storage firm Totter and Eigenlayer added $101 million and $100 million, respectively.
Extra excessive worth will increase included Swan Bitcoin’s $165 million improve and Blockchain.com’s $110 million improve.
On the subject: A Bloomberg analyst believes that spot Ethereum ETFs may begin by July 2nd