A report by Wu Blockchain using RootData statistics shows that crypto venture capital investments have grown 26.1% compared to last year.
In December 2018, there were 102 public crypto VC investments projects, which represents a growth of 7.4% from November’s 95 projects. This marked a decrease of 6.4% compared with 109 projects from December 2023.
The total funding in December was $740 millions, an increase of 60.9% MoM from $460 in November. However, this is a decline of 18.7% YoY from the $910 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
DeFi projects accounted for 24.4% total of all projects. NFT/GameFi projects accounted for 15.1%. Layer 1 and Layer 2 projects accounted 11%. Artificial intelligence (AI), on the other hand, amounted to 9.6%.
The centralized finance project (CeFi), which accounted for 5.7% of the total, was followed by real-world assets projects (RWA) at 8.8% and Decentralized Physical Infrastructure (DePIN) Projects (which accounted for 8.8%). Total tools and wallets infrastructure accounted for 7.3%.
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.
Iris Energy is a cryptocurrency mining company based out of Australia. It raised over $413.4M through stock issues in the first half year. Avalanche received $250M through the token sale that was led by Galaxy Digital Dragonfly and ParaFi Capital.
Other deals
Blockstream raised $210 million to expand Layer 2 technology in October. Monad Labs, meanwhile, secured $225 million to create a Layer 1 Blockchain compatible with the Ethereum Virtual Machine in April.
Robinhood has announced its plans to purchase Bitstamp crypto exchange for $200,000,000. Completion is anticipated in the second 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.
Farcaster’s decentralized social protocol raised an additional $150 million in the month of May. This pushed its value up to $1 billion.
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