Crypto projects have received over $90 billion in all-time funding

The Block Research claims that over $90 billion has been invested in cryptocurrency and blockchain-related businesses overall.

The investment for projects has crossed the $90 billion milestone thanks to more than 50 deals completed this month, according to data from The Block Research, which has been monitoring capital flows into the relatively nascent industry since 2017.

"When observing the current state of venture funding in the blockchain sector, it’s evident that while we haven’t seen a substantial uptick in funding figures, there are encouraging signs," John Dantoni, director of The Block Research, stated. 

The Block Research divides announcements of fresh funding into the following categories: enterprise, trading and brokerage, web3, infrastructure, DeFi, NFTs/gaming, crypto financial services, data and analytics, and finally, web3. According to data from The Block Research, more than 230 acquisitions totaling close to $1.3 billion have been announced since the year's beginning.

The great bulk of money for 2024 has already gone toward DeFi, infrastructure, NFTs/gaming, and web3 initiatives. Investors and venture capitalists such as Framework Ventures, Polychain Capital, Shima Capital, and Animoca Brands have taken part in fundraising rounds. One of the more well-known investments of the month was a $25 million Series A investment made by Tether and Solana co-founder Anatoly Yakovenko in the cryptocurrency mobile payment company Oobit.

"Increased deal activity in recent months, particularly noticeable in Pre-Seed/Seed investments and the risk-on behavior exhibited by Asian VCs, coupled with the growing interest in DeFi & DePIN, paints a picture of investors strategically positioning themselves for what could be the onset of a new digital asset cycle," Dantoni also said.

Total investment into crypto and blockchain-related companies. Image: The Block Research.

Stable number of deals but lower dollar amounts

The data indicates that, except from the Oobit deal, the majority of investment announcements have been for capital injections under $10 million. Even if the monetary amounts of the deals signed each month have fallen well short of the investment levels observed in 2021 and 2022, the number of new transactions struck each month has remained reasonably consistent for several months.

The Block Research data shows that over 9,500 announcements of investments have been made in the industry since 2017.

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