Crypto Investment Surge: Fewer Rounds, Bigger Bets
The last month saw a significant trend in the crypto investment landscape, with $1.15B raised across 75 rounds. This represents a 15% increase in funds raised but a 25% decrease in the number of rounds compared to the previous month. In July, $1B was raised in 100 rounds, while June saw $911M in 120 rounds. May had $780M in 90 rounds, and April recorded $520M in 59 rounds. March saw $790M in 92 rounds, February had a peak of $1.5B in 120 rounds, and January had $1B in 102 rounds. December recorded $900M in 120 rounds, November had $645M in 132 rounds, October saw $560M in 88 rounds, September had $840M in 140 rounds, and August recorded $730M in 67 rounds.
The current month continues the upward trend in funds raised, despite a decrease in the number of rounds. This could be interpreted as a sign of larger, more significant investments being made in fewer projects. The broader market situation, influenced by macroeconomic factors, news events, and investor sentiment, suggests a cautious yet optimistic approach by investors. The news background, including Ethereum's challenges with Layer-2 interoperability and the increased profile of TON, indicates a dynamic and evolving market. This trend may signal potential future movements and market stability, with investors focusing on high-quality projects and infrastructure development.
Biggest Rounds
Polymarket, a DeFi platform, raised $74M from Founders Fund, Strangelove Ventures Crypto Fund, and Piers Kicks. Polymarket is a decentralized information markets platform where users can trade on highly-debated topics such as coronavirus, politics, and current events. Users can build portfolios based on their forecasts and earn returns if they're correct. Market prices reflect traders' views on future event odds, providing actionable insights for decision-making.
Crestal, another DeFi platform, raised $25M from Brotherhood Crypto Fund, M31 Capital Crypto Fund, and Paradigm. Crestal is a platform for modular services, enabling developers to discover, deploy, and upgrade services on the Crestal Blockchain. It connects decentralized providers to a verifiable Proof of Performance (PoPTM), rewarding high-quality infrastructure support for web3 developers.
Airstack, a CeFi platform, raised $12.16M from Moonwalker Capital. Airstack is a key player in centralized finance, aiming to streamline and secure global financial transactions. It integrates various financial services into a single platform, enhancing operational efficiency and user experience.
Kiosk, an NFT marketplace, raised $7.1M from Sora Ventures and The Spartan Group Crypto Fund. Kiosk is an innovative NFT marketplace that emphasizes transparency and user empowerment, leveraging advanced technology to enhance the NFT experience.
Hylé, focused on Blockchain Infrastructure, raised $2.6M from Framework Ventures Crypto Fund, Delphi Digital, and Vitalik Buterin. Hylé builds out the Hylé network, which uses zero-knowledge proofs (ZKP) for scalability and privacy. Hylé aims to be the core layer for the modular ZK tech stack. The Hylé network runs its own consensus mechanism and is purpose-built for ZKP verification, offering developers and users options for what suits their systems.
Most Interesting Categories
The most funded category was Blockchain Infrastructure with $120 million raised in 32 rounds, compared to $40 million raised in 10 rounds last month. The second most funded category was CeFi, with $102 million in funding and 26 rounds raised, compared to $140 million raised in 50 rounds last month. DeFi, which raised $98 million in 17 rounds, rounds out the top three, compared to $10 million raised in 5 rounds last month.
Most Active Investors
Coinbase Ventures participated in 6 rounds, making it the most active investor in this space. Their focus last month was on categories such as DeFi, CeFi, and Blockchain Infrastructure. In second place is Pantera Capital with 4 rounds, focusing on DeFi and Blockchain Infrastructure. Finally, Circle invested in 3 different rounds, focusing on CeFi and Blockchain Infrastructure.