Market Consolidation: Fewer Rounds, Bigger Investments in Blockchain and Crypto
The last month saw a total of $1.15B raised across 75 rounds, marking a 15% increase in funds raised but a 25% decrease in the number of rounds compared to the previous month. This trend suggests a consolidation in the market, with larger investments being made in fewer projects. The broader market situation, influenced by macroeconomic factors and investor sentiment, indicates a cautious yet optimistic approach from investors. The largest round this month was in the Social category, with Story Protocol raising $124M from Balaji Srinivasan and Hashed Fund.
Biggest Rounds
Story Protocol raised $124M from Balaji Srinivasan and Hashed Fund. The project aims to revolutionize the management and licensing of intellectual property online.
XRP raised $200M from Pantera Capital. XRP is an open payment system designed to minimize the role of banks in transactions.
Polymarket raised $74M from Founders Fund, Strangelove Ventures Crypto Fund, and Piers Kicks. Polymarket is a decentralized information markets platform for trading on highly-debated topics.
Categories
Blockchain Infrastructure
Hylé raised $4.6M from Framework Ventures Crypto Fund, Delphi Digital, and Vitalik Buterin. Hylé builds a network using zero-knowledge proofs for scalability and privacy.
Chainbound raised $2.3M from cyber Fund Crypto Fund, Maven 11 Capital, and Chorus One. Chainbound focuses on optimized infrastructure and network tools for blockchains.
Blockchain Service
Edge Matrix Chain raised $20M from Candaq and Bochsler Finance. EMC Protocol offers smart contracts, decentralized storage, and consensus mechanisms.
Space and Time raised $5M from OKX Ventures and SamsungNext. Airstack aims to streamline and secure global financial transactions.
CeFi
Airstack raised $12.16M from Moonwalker Capital. Airstack integrates various financial services into a single platform.
Arch raised $2.16M from Kenetic Capital and Tribe Capital. Arch provides financial services for crypto asset holders.
Chain
Quai Network raised $15M from Polychain Capital and Jets Capital. Quai is a scalable, EVM-compliant blockchain network.
Ark Labs raised $2.5M from Fulgur Ventures. Ark is a Bitcoin Layer 2 payment network.
Currency
XRP raised $200M from Pantera Capital. XRP is an open payment system designed to minimize the role of banks in transactions.
Sentz raised $64M from Coinbase Ventures and Blocktower Capital. Sentz is a cryptocurrency with a market capitalization of $33.88M.
DeFi
Polymarket raised $74M from Founders Fund, Strangelove Ventures Crypto Fund, and Piers Kicks. Polymarket is a decentralized information markets platform.
Crestal raised $25M from Brotherhood Crypto Fund, M31 Capital Crypto Fund, and Paradigm. Crestal is a platform for modular services on the Crestal Blockchain.
GameFi
Double jump.tokyo raised $64M from Circle. Double jump.tokyo helps game developers create blockchain games.
Nectar AI raised $3.9M from Maelstrom and Synergis. Nectar is a generative AI platform for creating AI companions.
Meme
SHIBA INU raised $12M from Animoca Brands. SHIB is a decentralized community experiment inspired by Dogecoin.
Milady Meme Coin raised $6M from DWF Labs. Milady Coin is a meme token on the Ethereum blockchain.
NFT
Kiosk raised $7.1M from Sora Ventures and The Spartan Group Crypto Fund. Kiosk is an innovative NFT marketplace.
Mintify raised $5M from Amber Group. Mintify is an advanced trading platform for NFT trading.
Social
Story Protocol raised $124M from Balaji Srinivasan and Hashed Fund. Story Protocol aims to revolutionize intellectual property management online.
Soulbound raised $6M from Genblock Capital. Soulbound combines social networks and GameFi to improve player engagement.
Stablecoin
Level raised $3.6M from Polychain Capital Crypto Fund. Tier is a stablecoin based on USD re-stake tokens.
StablR raised $1.1M from Global Coin Research. StablR issues EurR to provide liquidity to DeFi and CeFi markets.
Most Active Investors
Coinbase Ventures participated in 6 rounds, focusing on DeFi, CeFi, and Blockchain Infrastructure.
Pantera Capital participated in 4 rounds, focusing on DeFi and Blockchain Infrastructure.
Circle participated in 3 rounds, focusing on CeFi and Blockchain Infrastructure.