Crypto VC Funding Surges in Q1 2024, Breaking 2-Year Downtrend
Venture capital (VC) funding in the crypto space has experienced a surge in the first quarter of 2024, breaking a two-year downtrend.
Both the total amount invested and the number of projects receiving VC funding have seen substantial increases since Q4 2023, according to data gathered by crypto analysis platform Crypto Koryo .
The data shows a notable 38% rise in funds invested during the quarter, indicating a renewed investor confidence in the crypto industry.
Moreover, there has been a remarkable 49% increase in the number of projects securing funding, a level not witnessed since Q4 2021.
Crypto Koryo believes that the crypto positive trend could signify the beginning of a new wave of investments.
The analysis platform draws parallels between the recent uptick and patterns observed in Q4 2020, which preceded a massive influx of VC investments into the crypto sector.
Notably, this quarter witnessed a higher interest from crypto-focused venture firms, in contrast to previous periods where banks and non-crypto VCs dominated investments.
Prominent crypto-native VCs such as Andreessen Horowitz Crypto, OKX Ventures, Multicoin Capital, Paradigm, and Polychain have emerged as dominant players in the funds invested during the quarter.
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